Human capital and economic growth in Nigeria

Abstract

The study empirically examines the nexus between human capital and economic growth in Nigeria between 1981 and 2017. This is predated by poor policy impact across the key sectors of the economy, such as education and health that would have transformed productivity to economic in Nigeria. In order to address this ugly happening, the study therefore employed vector autoregressive and Johansen techniques. The results disclosed that the estimated coefficients of human capital have long-run significant impact on economic growth in Nigeria. Also, the diagnostic tests were used to check the validity of the techniques adopted in the study. Interestingly, results from normality test, VEC residual serial correlation LM tests and VEC residual heteroskedasticity tests confirm the justification and validity of the estimated results obtained in this research. Drawing way forward, this study therefore recommends the need to sustain economic in Nigeria through increase budgetary allocation to education and health sector to boost human capital skills needed to drive knowledge-based economy. Also, government should establish special agencies with the responsibility of improving the skills and capabilities of human capital across all educational levels of the federation so as to sustain growth in the long run.

Do technological innovation, foreign investment, trade and human capital have a symmetric effect on economic growth? Novel dynamic ARDL simulation study on Bangladesh

“…It was found that there is a significant positive evidence of spatial spillover effects of higher education and technological innovation on industrial structure upgrades when using the spatial Dubin model and the paper is occupied in learning the spatial effects of higher education and technological innovation. Nigerian human capital and economic growth nexus in between 1981 and 2017 are empirically examined in the study of Keji ( 2021 ). The cause is poor policy impact across the key sectors of the economy, such as education and health, which would have transformed productivity into economic growth in Nigeria.…”

“…In order to achieve higher economic growth, institutional quality differences can be explained by the mixed evidence on the human capital–growth relationship, and the findings suggest that better governance contributes to the productive use of human capital. According to Keji ( 2021 ), economic growth in Nigeria is correlated with human capital between 1981 and 2017. Keji used vector autoregressive and Johansen techniques to analyze the relationship.…”

Integration into regional or global value chains and economic upgrading prospects: an analysis of the East African Community (EAC) bloc

“…Quality and human resources would imply more specialization in manufacturing activities than in primary activities within the value chains as well engaging in capital intensive production, especially when skilled labor and capital complement each other in the production process [61,62]. Keji [63] shows that a country's level of human capital is positively related to economic growth. In this sense, economic upgrading among EAC member states will be possible if the people with the necessary skills and experience are there.…”

Empirical Analytics of SAARC vs ASEAN in Perspective of Economic Growth and Capital Accumulation

“…From the perspective of Nigeria, Keji (2021) constructed the nexus between human/physical capital and economic development. The study employed the VAR, VECM, and LM tests to measure the short-run/long-run relationship by considering the data set from 1981 to 2017 and predicted a significant and positive relationship between human/physical capital and economic growth.…”