This makes nigeria s balance of payments and government budgets vulnerable to volatilities in oil. In carrying out the study three theories which relating to human capital. The study examines the impact of human capital development on economic growth in nigeria. Findings also showed that investment in human capital in the form of education and capacity building at the primary and secondary levels impact significantly on economic growth, while capital. In the absence of substantial investment in the development of human capital in any country, sustained economic growth and development would only be a mere. This study employs the augmented solow humancapitalgrowth model to investigate the impact of human capital development on national output, a proxy for economic growth, using quarterly timeseries data from 19992012. Development planning process of economic growth and structural. Economic growth, human capital, education, health and gross fixed capital formation.
Pdf human capital investment and economic growth in nigeria. Pdf public investment in human capital and economic. Human capital formation and economic growth in nigeria. Human capital investment and economic growth in nigeria. Human capital formation and economic growth in nigeria eric. The nigeria biannual economic update is a product of the staff of the world bank and has three broad aims. Dauda 2010 examined investment in education and economic growth in nigeria using annual time series data from 1977 to 2007. Public investment in human capital and economic growth in nigeria. Pdf investment in human capital and growth in nigeria. It was revealed that 1% fall in human capital investment led to a 48. Researches on this topic being carried out over the years have not really achieved its prior objective. The impulse response function confirmed that a shock to cehci and rehci has a positive effect on economic growth in nigeria.
The study sought to find out how human capital development education and health contributes to economic growth gdp, unemployment and employment rate in nigeria. Human capital investment, economic growth, education. Pdf investment in human capital and growth in nigeria 1980. First, it reports on the key developments in the nigerian economy in the recent past. Plan, human capital investment and economic growth in nigeria. Impact of human capital development on economic growth in. Investing in human capital for nigerias future english the nigerian economy remains dependent on the small oil sector under 10 percent of gdp for the bulk of its fiscal revenues and foreign exchange earnings. Pdf human capital investment and economic development. Human capital investment and economic growth in nigeria african. Impact of human capital development on economic growth in nigeria free download as pdf file. No economy develops without skilled human resources to drive that growth, hence, nigeria must prioritise human capital development for its economic growth.
The role of human capital in the growth process of any nation is crucial. Pdf the study examined the impact of human capital investment on economic development of nigeria. The study of this nature is prompted by the slow rate of nigerias economic growth despite the huge contribution of the government. Accumulation accumulation of human capital is perhaps the most important determinant of productivity in nigeria. In the absenteeism of sizeable investment in the development of human capital in any country, sustained economic growth and development is only be a mere.
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