Human Capital, Fixed Capital Formation and Economic Growth: An Empirical Analysis of Endogenous Growth Drivers in Uganda

Benjamin Musiita, Frederick Nsambu Kijjambu and Ruth Nyiramahoro

Journal of Economics and Behavioral Studies, 2025, vol. 17, issue 1, 82-95

Abstract: This research aimed to look at the effect of key endogenous variables such as GNI, Human Capital, FDI, Inflation, and GCF, which have impacted the economic growth in Uganda. This study adopted a time-series research design. Data from the study were obtained through secondary sources, including government publications, international financial databases, and reports obtained from UBOS. The econometric methods the study adopted included the ADF test for stationarity, the VIF test for multicollinearity, and the ARDL model in testing both the short-run and long-run relationships. The study found that in the long run, human capital, GCF, and inflation significantly contributed to economic growth at favorable rates, while FDI negatively influenced economic growth. In the short run, GNI, Human Capital, FDI, and Capital are significant determinants of economic growth, with an adverse short-run effect for GNI and FDI. The results emphasize that capital formation and human capital development are important for sustainable economic growth in Uganda. The study concludes that different aspects of fashion affect Uganda's economic performance, indicating the need to stabilize major macroeconomic indicators to achieve long-term growth, focusing on human capital, capital formation, and managing inflation.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ojs.amhinternational.com/index.php/jebs/article/view/4457/2952 (application/pdf)
https://ojs.amhinternational.com/index.php/jebs/article/view/4457 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rnd:arjebs:v:17:y:2025:i:1:p:82-95

DOI: 10.22610/jebs.v17i1(J).4457

Access Statistics for this article

More articles in Journal of Economics and Behavioral Studies from AMH International
Bibliographic data for series maintained by Muhammad Tayyab ().