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Human Capital Development and Economic Growth: Empirical Evidence from Nigeria

Author

Listed:
  • Wakeel A Isola
  • R. A Alani

Abstract

The study examined the contribution of different measures of human capital development to economic growth in Nigeria. It used data from Nigeria and adopted the growth account model which specifies the growth of GDP as a function of labour and capital. The model also included a measure of policy reforms. Based on the estimated regression and a descriptive statistical analysis of trends of government commitment to human capital development, it was found that though little commitment had been accorded health compare to education, empirical analysis showed that both education and health components of human capital development are crucial to economic growth in Nigeria.

Suggested Citation

  • Wakeel A Isola & R. A Alani, 2012. "Human Capital Development and Economic Growth: Empirical Evidence from Nigeria," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 2(7), pages 813-827.
    • Handle: RePEc:asi:aeafrj:v:2:y:2012:i:7:p:813-827:id:933
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    Citations

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    Cited by:

    1. Adeyemi A. Ogundipe & Olasinde Mobolaji & Oluwatomisin M. Ogundipe, 2021. "An Analysis of the Effect of Human Capital Investment on Economic Development in Nigeria: Does a New Indicator Alter Existing Evidence?," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(1), pages 17-29, January.
    2. Ehigiamusoe Ehigiamusoe, 2013. "Education, Economic Growth & Poverty Rate in Nigeria: Any Nexus?," Journal of Social and Development Sciences, AMH International, vol. 4(12), pages 544-553.
    3. Adenike Mosunmola Osoba & Sheriffdeen Adewale Tella, 2017. "Human Capital Variables and Economic Growth in Nigeria: An Interactive Effect," EuroEconomica, Danubius University of Galati, issue 1(36), pages 131-143, May.
    4. Ady Soejoto & Hendry Cahyono & Ni'matush Solikhah, 2017. "Effect of Solow Variable to the Economic Growth in Southeast Asia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 277-282.
    5. Adeeba Sarwar & Muhammad Azmat Hayat, 2021. "A Nexus among Institutions, Education and Economic Growth: An Analysis of Developing Countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(1), pages 30-42, January.
    6. God’stime Osekhebhen Eigbiremolen & Uchechi Shirley Anaduaka, 2014. "Human Capital Development and Economic Growth: The Nigeria Experience," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(4), pages 25-35, April.
    7. Oluwatoyin A. Matthew & Christian U. Ede & Romanus Osabohien & Jeremiah Ejemeyovwi & Fagbeminiyi F. Fasina & Doris Akinpelumi, 2018. "Electricity Consumption and Human Capital Development in Nigeria: Exploring the Implications for Economic Growth," International Journal of Energy Economics and Policy, Econjournals, vol. 8(6), pages 8-15.
    8. Anthony Orji & Jonathan E. Ogbuabor & Chikaodinaka Iwuagwu & Onyinye I. Anthony-Orji, 2020. "Analysis of Human Capital Development and Output Growth Nexus in Africa’s Most Populous Country: A New Evidence from ARDL Approach," Journal of Infrastructure Development, India Development Foundation, vol. 12(2), pages 105-118, December.
    9. Maku Olukayode E. & Ajike Emmanuel O. & Chinedu Solomon, 2019. "Human Capital Development and Macroeconomic Performance in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach," Valahian Journal of Economic Studies, Sciendo, vol. 10(1), pages 51-64, July.
    10. Funda Hatice Sezgin & Yunus Budak, 2022. "The Growth Impact of Human Development: A Developed- and Developing-Country Comparison," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 72(72-1), pages 81-104, June.
    11. Masagus M. Ridhwan & Peter Nijkamp & Affandi Ismail & Luthfi M.Irsyad, 2022. "The effect of health on economic growth: a meta-regression analysis," Empirical Economics, Springer, vol. 63(6), pages 3211-3251, December.
    12. Olawunmi Omitogun & Adenike M. Osoba & Sheriffdeen Adewale Tella, 2016. "An Interactive Effect of Human Capital Variables and Economic Growth in Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 12(5), pages 108-119, OCTOBER.
    13. Ettah Bassey ESSIEN, 2016. "Population Growth and Economic Growth Performance in Nigeria (1981 – 2014)," Turkish Economic Review, KSP Journals, vol. 3(1), pages 143-159, March.
    14. Abdalali Monsef & Abolfazl Shahmohammadi Mehrjardi, 2015. "Investigation Development Degree of Esfahan Province of Iran in Terms of Educational Indices," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 5(1), pages 37-44, January.
    15. Chinwuba Okafor & Ibrahim Shaibu, 2016. "Modelling Economic Growth Function in Nigeria: An ARDL Approach," Asian Journal of Economics and Empirical Research, Asian Online Journal Publishing Group, vol. 3(1), pages 84-93.

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