An Interactive Effect of Human Capital Variables and Economic Growth in Nigeria

The study examines the interactive effects of the relationship between human capital investment components and economic growth in Nigeria for the period of 1986 – 2014. Although,various studies have focused on the relationship between human capital and economic growth all over the world but there is...

Full description

Saved in:
Bibliographic Details
Published in:Acta Universitatis Danubius. OEconomica 2016, Vol.12 (5), p.108-119
Main Authors: Omitogun, Olawunmi, Osoba, Adenike M, Tella, Sheriffdeen Adewale
Format: Article
Language:English
Subjects:
Capital distributions
Causality
Developing countries
Economic growth
Economy
Growth factors
Human capital
LDCs
Nigeria
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The study examines the interactive effects of the relationship between human capital investment components and economic growth in Nigeria for the period of 1986 – 2014. Although,various studies have focused on the relationship between human capital and economic growth all over the world but there is still a missing gap on the joint influence of human capital investment components on economic growth particularly in Nigeria. The study employs secondary annual data on education expenditure; health expenditure; real gross domestic product and gross capital formation obtain from the Central Bank Statistical bulletin, 2014 and analyze using Fully Modified Ordinary Least Squares (FMOLS) technique. The results of the study show that there is positive and significant relationship between the interactive effects of human capital components and growth in Nigeria. The study educates the government and policy makers on the importance of policy mix in terms of how human capital development enhances growth in Nigeria than embarking on the use of one policy instrument. The paper therefore contributes to knowledge by providing information on the interactive effects of education and health on growth in Nigeria.
ISSN:2065-0175
2067-340X