ABSTRACT
There can be no significant economic growth in any country without adequate human capita... more ABSTRACT There can be no significant economic growth in any country without adequate human capital development. In the past decades, much of the planning in Nigeria was centred on the accumulation of physical capital for rapid growth and development, without due attention recognition of the role played by human capital in development process. The paper examines empirically the relationship between economic growth and human capital development using Nigerian data. The basic macroeconomic variables of concern derived from the literature review are: Growth rate of real gross domestic product, capital expenditure on education, recurrent expenditure on education, real gross capital formation was used to proxy physical capital formation, enrolments into primary school, post primary and tertiary education institution were used to proxy human capital development. With the aid of Econometric views, the model was estimated using annual data from 1990 -2015. The application of co-integration theory incorporating the error correction mechanism was explored. It is found that investment in human capital, through the availability infrastructural requirements in the education sector accelerates economic growth. The physical capital formation proxy by real gross capital formation is correctly signed and statistically significant at 1% level of significance. It indicates that it has a significant impact on Nigeria’s economic growth. The study recommends among others, that the Government should continue to encourage primary and post-primary enrolments as this would add up to improve the low adult literacy level which remains at 57.0%. Also, teacher’s salaries and improved working conditions in educational institutions should be accorded high priority by the Government.
The new modern technology in the financial sector, how good and its positive and negative effect ... more The new modern technology in the financial sector, how good and its positive and negative effect to the society. For academic purpose
ABSTRACT
There can be no significant economic growth in any country without adequate human capita... more ABSTRACT There can be no significant economic growth in any country without adequate human capital development. In the past decades, much of the planning in Nigeria was centred on the accumulation of physical capital for rapid growth and development, without due attention recognition of the role played by human capital in development process. The paper examines empirically the relationship between economic growth and human capital development using Nigerian data. The basic macroeconomic variables of concern derived from the literature review are: Growth rate of real gross domestic product, capital expenditure on education, recurrent expenditure on education, real gross capital formation was used to proxy physical capital formation, enrolments into primary school, post primary and tertiary education institution were used to proxy human capital development. With the aid of Econometric views, the model was estimated using annual data from 1990 -2015. The application of co-integration theory incorporating the error correction mechanism was explored. It is found that investment in human capital, through the availability infrastructural requirements in the education sector accelerates economic growth. The physical capital formation proxy by real gross capital formation is correctly signed and statistically significant at 1% level of significance. It indicates that it has a significant impact on Nigeria’s economic growth. The study recommends among others, that the Government should continue to encourage primary and post-primary enrolments as this would add up to improve the low adult literacy level which remains at 57.0%. Also, teacher’s salaries and improved working conditions in educational institutions should be accorded high priority by the Government.
The new modern technology in the financial sector, how good and its positive and negative effect ... more The new modern technology in the financial sector, how good and its positive and negative effect to the society. For academic purpose
Uploads
Papers
There can be no significant economic growth in any country without adequate human capital development. In the past decades, much of the planning in Nigeria was centred on the accumulation of physical capital for rapid growth and development, without due attention recognition of the role played by human capital in development process. The paper examines empirically the relationship between economic growth and human capital development using Nigerian data. The basic macroeconomic variables of concern derived from the literature review are: Growth rate of real gross domestic product, capital expenditure on education, recurrent expenditure on education, real gross capital formation was used to proxy physical capital formation, enrolments into primary school, post primary and tertiary education institution were used to proxy human capital development. With the aid of Econometric views, the model was estimated using annual data from 1990 -2015. The application of co-integration theory incorporating the error correction mechanism was explored. It is found that investment in human capital, through the availability infrastructural requirements in the education sector accelerates economic growth. The physical capital formation proxy by real gross capital formation is correctly signed and statistically significant at 1% level of significance. It indicates that it has a significant impact on Nigeria’s economic growth. The study recommends among others, that the Government should continue to encourage primary and post-primary enrolments as this would add up to improve the low adult literacy level which remains at 57.0%. Also, teacher’s salaries and improved working conditions in educational institutions should be accorded high priority by the Government.
Thesis Chapters
There can be no significant economic growth in any country without adequate human capital development. In the past decades, much of the planning in Nigeria was centred on the accumulation of physical capital for rapid growth and development, without due attention recognition of the role played by human capital in development process. The paper examines empirically the relationship between economic growth and human capital development using Nigerian data. The basic macroeconomic variables of concern derived from the literature review are: Growth rate of real gross domestic product, capital expenditure on education, recurrent expenditure on education, real gross capital formation was used to proxy physical capital formation, enrolments into primary school, post primary and tertiary education institution were used to proxy human capital development. With the aid of Econometric views, the model was estimated using annual data from 1990 -2015. The application of co-integration theory incorporating the error correction mechanism was explored. It is found that investment in human capital, through the availability infrastructural requirements in the education sector accelerates economic growth. The physical capital formation proxy by real gross capital formation is correctly signed and statistically significant at 1% level of significance. It indicates that it has a significant impact on Nigeria’s economic growth. The study recommends among others, that the Government should continue to encourage primary and post-primary enrolments as this would add up to improve the low adult literacy level which remains at 57.0%. Also, teacher’s salaries and improved working conditions in educational institutions should be accorded high priority by the Government.