Public Health Investment, Human Capital Accumulation, and Labour Productivity: Evidence from West Africa

Ohikhuare Obaika, Oyewole Oluwatomisin and Adedeji Adedayo
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Ohikhuare Obaika: Federal University of Agriculture, Abeokuta, Nigeria.
Oyewole Oluwatomisin: department of Economics, Federal University of Agriculture, Abeokuta (FUNAAB), Nigeria.
Adedeji Adedayo: department of Economics, Federal University of Agriculture, Abeokuta (FUNAAB), Nigeria.

Zagreb International Review of Economics and Business, 2022, vol. 25, issue 2, 139-163

Abstract: The study of public health investment, human capital accumulation, and labour productivity are essential in formulating policies that drive economic development. This study examines the individual and interactive effects of public health investment and human capital accumulation and the interactive effect of human capital accumulation and financial opportunity on labour productivity in West Africa from 1992 to 2020, respectively. The interactive effect of human capital accumulation and financial opportunity has not been given any attention in the literature. The following findings are apparent in the study: One, public health Investment and human capital accumulation positively affect labour productivity in the short and long run. Two, the interactive effect of human capital accumulation and public Health Investment positively and significantly affect labour productivity in the short and long run. Lastly, the interactive effect of human capital accumulation and financial opportunity positively and significantly affects labour productivity in the short and long run. Hence, we suggest that economic policy be formulated to ensure that affordable healthcare and financial opportunity are available, together with human capital accumulation, to fast-track the normalization of the economy.

Keywords: Interactive effect; human capital accumulation; financial opportunities; public Investment; West Africa; Augmented Solow Model (search for similar items in EconPapers)
JEL-codes: C23 C87 H51 H52 J08 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:zirebs:v:25:y:2022:i:2:p:139-163:n:1008

DOI: 10.2478/zireb-2022-0019

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