The Human Capital Development and Economic Growth: Nigerian Experience

Abstract

The impact of human capital development on economic growth in Nigeria has been a subject of discussion with most authors emphasizing its significance to economic development. The study, using secondary date between 1980 and 2015, autoregressive distributed lag to co-integration, results noted presence of a long run co-integrating relationship among the variables and that capital education expenditure contributes negatives to growth. The study therefore recommends that government should improve on her human capital development drive and also channel her expenditure on education to areas where they are necessary so that it can contribute positively to growth.

Keywords: Human Capital, Economic Growth, Education Expenditure, Capital Formation and School Enrolments