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Human Capital Development and Macroeconomic Performance in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach

Author

Listed:
  • Maku Olukayode E.

    (Olabisi Onabanjo University, Nigeria)

  • Ajike Emmanuel O.
  • Chinedu Solomon

    (Babcock University, Nigeria)

Abstract

While developed and most developing nations have seen the need and continue to invest heavily in the development and training of her manpower as shown by huge budgetary allocations to education and health, Nigeria continues to play politics with her human capital development policy which has been poor and only been effective on paper despite the huge outlay of human capital available at our disposal. This study therefore examined the impact of human capital development on the macroeconomic performance of Nigeria. Using autoregressive distributed lagged model, the study proxied human capital development using government expenditure on education, government expenditure on health, secondary school enrolment rate, and school enrolment rate at tertiary level, while per capita GDP was used as proxy variable for measuring macroeconomic performance.

Suggested Citation

  • 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.
    • Handle: RePEc:vrs:vaecst:v:10:y:2019:i:1:p:51-64:n:5
    DOI: 10.2478/vjes-2019-0005
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    School enrolment; health; education; per capita income; Nigeria;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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