To What Extent Does Human Capital Development Impact Economic Growth? Empirical Evidence From Nigeria.

Abstract

This study examined the effect of human capital development on the economic growth of Nigeria. In achieving this, the human capital variables of education and health care were included in the study. The study employed the Autoregressuve and Distributive Lag (ARDL) model to annual series covering the period 1983 to 2018 for analysis. The findings of the study revealed the presence of a long-run association among the stuady variables. Further, it was discovered that in both the short and long run, both components of human capital development produce a positive effect on economic growth, although the effect of education appeared to be larger. The study emphasized the need for policymakers to enhance both access to and quality of health care and education with a view to stimulating the economic growth of Nigeria.

Human capital interaction on foreign aid-growth nexus: evidence from South Asia and sub-Saharan Africa

“…The negative effect of ODA on economic growth corroborates and lends credence to earlier studies (Adedokun, 2017;Mustafa et al, 2019;Hussain et al, 2018;Niyonkuru, 2016;Pohwani et al, 2019;Quy, 2016;Tang and Bundhoo, 2017;Weerasingha and Mustafa, 2019), which established that foreign aid had a negative or insignificant impact on economic growth. Nevertheless, the result shows that the coefficient of HCD is À0.0742, with a probability value of 0.9196, which is statistically insignificant, which is in line with earlier studies (Abubakar et al, 2020;Omankhanlen et al, 2014;Tsaurai, 2017). The result indicates that the current stock of human capital in South Asia and Africa does not stimulate economic growth.…”

“…Using enveloping data test, Omankhanlen et al (2014) found that between 1990 and 2011, the HCD variable impeded economic growth. The findings of Tsaurai (2017) and Abubakar et al (2020) for developing economies further deepen the argument that HCD is growth-inhibiting.…”

“…Despite the dominance of a positive relationship HCD effect of economic growth, a growing number of studies had found contradicting evidence, when they concluded that HCD had either a negative or an insignificant role in economic growth (Abubakar et al, 2020;Mehrara and Musai, 2013;Omankhanlen et al, 2014;Orisadare et al, 2018;Tsaurai, 2017). Mehrara and Musai (2013) analysed the relationship between HCD and economic growth in developing economies and concluded that economic growth was not driven by HCD over the period 1970-2010.…”

Sectoral Allocation of Deposit Money Banks’ Credit and the Growth of Nigerian Real Economy: A Disaggregated Analysis (2008Q1 – 2017Q4)

“…Bakare et al [63] examined the extent to which banks' credit affects economic growth in Nigeria. The data used was collected from the Central Bank of Nigeria statistical bulletin for a period of 24 years from 1990 to 2013.…”

Knowing Ahead Mathematical Determinant of Bank Customers Credit Worthiness: A Safe Strategy for Funding Loan in a Critical Economy

“…A loan default occurs when the borrower does not make required payments or in one way or the other way does not adhere to the terms of a loan [11]. The study, the Extent that Bank Credit Stimulate Economic Growth revealed that the lagged value of credit to the private sector is positively and significantly influencing economic growth in Nigeria while the lagged value of credit to the public sector shows a positively insignificant relationship with GDP [12]. Also in a research, "perceived loan risk and Ex Post Default" the outcome showed that the banks screening criteria was limited by the presence of information asymmetry [13].…”