OGUNSANWO, A.O and OYELEKAN, A.A (2019) PREDICTIVE INFLUENCE OF HUMAN CAPITAL FORMATION ON ECONOMIC GROWTH IN NIGERIA. In: International Conference of the University of Lagos(UNILAG),Lagos State Nigeria, 8th –10th May, 2019, UNIVERSITY OF LAGOS, AKOKA..
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Abstract
This study examined the predictive influence of Human Capital Formation (HCF) on Economic Growth (EG) in Nigeria, using Gross Domestic Product (GDP) to proxy for economic growth and government expenditure on both health and education to proxy for human capital formation. An ex-post-facto research design was adopted for thestudy. Secondary data (timeseries) sourced from both CBN and NBS statistical bulletins and reports was used for analysis conducted. The sample covered 37 years period, 1981-2017. The data collected were analyzed applying E-view. Augmented Dickey-Fuller test was conducted and it was discovered that the series consisted of random work at level and these were eliminated at the first difference. Cointegration test was equally conducted making use of Johanson cointegration test and it was confirmed that the series were free from cointegration. Subsequently, multiple regression analysis was conducted by means of OLS estimation technique. Consequently, the following were established: F-statistics value of 570.0899, which implies that the model is of good fit; the probability of the t-statistics value p<0.05(p= 0.000) indicating a significant relationship between HCF and EG; the R2 value of 0.971044, denotes that 97% of the total variation in the dependent variable (EG) is explained by the independent variable (HCF); The result also indicates a positive but insignificant relationship between education and GDP evidenced by LNEDU probability value p>0.05 (p=0.1900) and the coefficient (0.295112). Furthermore a positive and significant relationship is revealed between investment on health and GDP, evidenced by LNHLT probability value P< 0.05(P = 0.0108) and the coefficient (0.547753). The study therefore recommends that Nigeria government should simultaneously increase her budgetary allocation, streamline and monitor its implementation in both health and education sectors to prevent misappropriation of funds so that therequiredgrowthcouldbefostered
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Miss Ayomikun Ogunbadejo |
| Date Deposited: | 02 Jun 2020 15:27 |
| Last Modified: | 02 Jun 2020 15:27 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/327 |
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