AFOLAYAN, O.T (2017) THE RELATIONSHIP BETWEEN HUMAN CAPITAL INVESTMENTS AND ECONOMIC DEVELOPMENT IN NIGERIA. In: 9TH ANNUAL NATIONAL CONFERENCE OF THE SCHOOL OF MANAGEMENT STUDIES, 28TH – 30TH NOVEMBER, 2017, The Federal Polytechnic Ilaro.
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Abstract
Economic development is attainable through the reduction in poverty, a reasonable rate of employment, equality in distribution of national resources and wealth; which all culminate to enhanced standard of living in general. For the past four decades, the role of human capital in the achievement of economic development has been at the centre stage of discourse amongst the development economists. This study therefore empirically investigates the short run and long run relationships between human capital investment and economic development in Nigeria using GDP per capita as proxy, within the framework of new growth model (specifically Lucas endogenous growth model). Adopting autoregressive distributed lag (ARDL) technique using E-Views 9, the dynamic relationships between GDP per capita and indicators of human capital development such as gross enrolment ratios at the three levels of education subsisting in Nigeria are examined. Also due to the imperative of government policies in the development of human capital as recognized by the Lucas model, measures such as total government expenditure on education and health are relevant in Nigeria context and are therefore incorporated into this research. The results of the study indicate mixed relationships between measures of human capital development adopted and economic development. Following the findings, it is suggested that measures that will enhance quality human capital formation through skills acquisition in order to ensure labour productivity, job creation and sustainable development should be encouraged by the stakeholders. Furthermore, proper institutional framework which ensures effective, quality and efficient utilization of government resources allocated to both the education and health sectors should be pursued with vigour and put in place.
| 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: | 09 Jun 2020 16:35 |
| Last Modified: | 09 Jun 2020 16:35 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/438 |
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