Foreign Portfolio Investment And Human Capital Development In Nigeria 2005-2019

2020 ◽  
Vol 8 (10) ◽  
pp. 83-101
Author(s):  
James Ese Ighoroje ◽  
Akpokerere Othuke Emmanuel
Keyword(s):  
Human Capital ◽  
Developing Economies ◽  
Control Variable ◽  
Unit Roots ◽  
Least Square ◽  
Portfolio Investment ◽  
Domestic Investment ◽  
Human Capital Development ◽  
Foreign Portfolio Investment ◽  
Capital Development

Following the saving – investment gap resulting from shortfalls of savings suffered by developing economies it has become fashionable to embrace foreign capital inflow as an essential complementing alternative supply of funds for domestic investment. This study investigates the effect of foreign portfolio investment on human capital development in Nigeria covering the period 2005-2019. Foreign portfolio investment, the explanatory variable is disaggregated intoforeign portfolio equity (FPIE) and foreign portfolio bonds (FPIB), while exchange rate is included as the control variable. The Human Capital Development – the dependent variable is represented by the Human Development Index (HDI). Econometric techniques,including Descriptive Statistics,Augmented Dickey Fuller tests for unit roots, Error Correction Model (ECM), and Ordinary Least Square (OLS) Regression analysis were used. The study showed foreign portfolio investment in equity has positive and significant effect on human capital development while foreign portfolio investment in bonds has positive but insignificant effect. The study thus concluded that foreign portfolio investment has positive effect on human capital development and has helped to improve human capacity necessary for economic development in Nigeria. The study reiterated the need for eye-catching polices that will attract greater foreign portfolio investment in both equity and bonds in the stock market which could be achieved by greater openness.

scholarly journals Human Capital Development and Economic Growth in BRICS Countries: Controlling for Country Differences

2019 ◽  
Vol 11 (4(J)) ◽  
pp. 1-17
Author(s):  
Awolusi D. Olawumi
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Human Capital ◽  
Developing Economies ◽  
Generalized Method Of Moments ◽  
Pairwise Comparison ◽  
Least Square ◽  
Human Capital Development ◽  
Country Differences ◽  
Capital Development

This paper investigates the effect of human capital development on economic growth, as well as controlling for country differences, in the BRICS economies – from 1990 to 2017. Ordinary Least Square (OLS) and Generalized Method of Moments (GMM) were used as the estimation techniques. We use one-way ANOVA and Scheffe pairwise comparison tests to understand how human capital development differed between each pair of countries. Findings suggest that the effect of human capital development on economic growth, though significant, was limited in these countries. A comparative analysis of results showed that China, Brazil and Russia were able to utilise their human capital to enhance economic growth more efficiently than South Africa and India. Consequently, this study observed that a 1% increase in government expenditure on education would result in a 0.13% increase in GDP for China, a 0.06% increase in Russia, a 0.07% increase in Brazil, a 0.04% increase in South Africa, and a 0.01% increase in GDP in India. In addition, the study concluded that human capital development practices differ in all the countries. Although this result was previously implied in the literature, comparison of a comprehensive list of human capital development practices among countries was lacking. Overall, the paper argues that the classical theory of economic growth, in combination with the new theory, and also the theory of market value, will not only help sustain a strategy tripod, but also shed significant light on the most fundamental questions confronting human capital development and economic growth in many developing economies.

scholarly journals Corruption practices and government effectiveness on human capital development in Nigeria

2021 ◽  
Vol 11 (2) ◽  
pp. 88-97
Author(s):  
Oluwatobi O Omotoye ◽  
Zaccheaus, O. Olonade ◽  
Olumide, O. Omodunbi
Keyword(s):  
Human Capital ◽  
Least Square Method ◽  
Least Square ◽  
Human Capital Development ◽  
Persistent Problem ◽  
Government Effectiveness ◽  
Development Indicators ◽  
Capital Development ◽  
The Impact ◽  
The Relationship

The study assessed the impact of corruption practices and government effectiveness (GE) on human capital development (HCD) in Nigeria between the years 2003 and 2020, Panel data from 2003 to 2020 were obtained from the database of United Nations Development Programme, World Development Indicators and CIP and were analysed using the ordinary least square method which is suitable for the dataset. The study found that corruption has a significant relationship with HCD in Nigeria while the relationship between GE and HCD is not significant. The research implication is that the persistent problem of slow and sometimes stagnant HCD and growth in Nigeria can be reversed by improving GE and by reducing corrupt practices in the country. The paper concluded that corruption practices have a very strong influence on HCD in Nigeria, while the relationship between GE and HCD is insignificant. It was recommended that Nigeria should institute stiffer punishments for offenses bothering on corruption practices.   Keywords: Corruption, human capital, development, government effectiveness, Nigeria.

scholarly journals EMPIRICAL ANALYSIS OF THE IMPACT OF KADUNA STATE GOVERNMENT EXPENDITURE ON EDUCATION ON HUMAN CAPITAL DEVELOPMENT

2016 ◽  
Vol 4 (4) ◽  
pp. 542-546
Author(s):  
Yunana Titus Wuyah ◽  
Muhammad Dahiru Ahmad
Keyword(s):  
Human Capital ◽  
State Government ◽  
Primary Schools ◽  
Capital Expenditure ◽  
Government Expenditure ◽  
The State ◽  
Least Square ◽  
Human Capital Development ◽  
Capital Development ◽  
The Impact

This study empirically examine the impact of government expenditure on education on human capital development in Kaduna State over the last 15 years (2000-2015) using econometrics model with Ordinary Least Square (OLS) technique.The paper test for presence of stationary between the variables using Augmented Dickey Fuller (ADF) and autocorrelationusing Durbin Watson statistics. The results reveals all the variables were not stationary in levels except capital expenditure (CE) and Primary schools enrolment (PE) while the rest were stationary at second difference. DW shows presence of serial correlation. The regression results indicated that government expenditure on education have significant impact on human capital development in Kaduna State. It could therefore be recommended that the state government should increase its capital and recurrent expenditure on education, ensure proper management and monitory of funds made for the teachers, constant payment of teachers salaries and allowances in a manner that it will raise the state production capacity. The state should construct addition primary and secondary schools across the state, with modern facilities, and employ more teachers.

Human Capital Development and Economic Growth in Developing Economies

2018 ◽  
Author(s):  
Alexander Ayertey Odonkor ◽  
Kwaku Asiedu-Nketiah ◽  
Eric Oyemam Ato Brown ◽  
Mohammad Mamun Miah
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Developing Economies ◽  
Human Capital Development ◽  
Capital Development

Trade and Human Capital in Global Value Chain in Developed and Developing Countries

2021 ◽  
pp. 1-15
Author(s):  
Wenxiao Wang ◽  
Shandre Thangavelu
Keyword(s):  
Developing Countries ◽  
Human Capital ◽  
Value Chain ◽  
Developing Economies ◽  
Value Added ◽  
Human Capital Development ◽  
Development Policies ◽  
Capital Development ◽  
Positive Effect

Abstract This paper investigates the effects of human capital on bilateral domestic value-added trade in global value chains (GVCs) for 43 countries and 56 sectors. In contrast to previous studies, this paper estimated an approximate gravity model of value-added trade to capture the role of human capital in determining the cross-border production linkages via value-added trade. The results show that the domestic value-added trade flows depend critically on human capital development in both exporting and importing countries. The results indicate a positive effect of skilled intensity on bilateral domestic value-added trade in GVCs. We also observe a larger positive effect of skills on the GVC value-added trade for the developing economies. The paper highlights the importance of trade liberalization and forward-looking human capital development policies for the competitiveness of the developing countries in the value-added trade in GVC.

scholarly journals Advancing Sustainable Development Goals (SDGs): An Analysis of How Non- Financial Services of Microfinance Insitutions Facilitate Human Capital Development of Clients in Ghana

2018 ◽  
Vol 11 (4) ◽  
pp. 257
Author(s):  
Ernestina Fredua Antoh ◽  
Albert A Arhin
Keyword(s):  
Sustainable Development ◽  
Human Capital ◽  
Financial Services ◽  
Sustainable Development Goals ◽  
Least Square ◽  
Human Capital Development ◽  
The Sustainable Development ◽  
Microfinance Institution ◽  
Development Goals ◽  
Capital Development

In 2015, the United Nations General Assembly adopted the 2030 Agenda for Sustainable Development, together with seventeen goals that are collectively called the Sustainable Development Goals (SDGs). This study examined the effects of non-financial microfinance services on human capital development of clients and discusses its implications on the achievement of the Sustainable Development Goals. The case is drawn from Sinapi Aba Trust (SAT), which is a microfinance institution of Ghana. Primary data were collected from 361 clients in seven districts of the Ashanti Region, Ghana. The results of the ordinary least square (OLS) regression showed that non-financial services offered by SAT had positive significance on human capital development of the clients. This finding shows how additional services from microfinance institution could help clients to maximise the value of loans offered to support income-generating economic activities. For clients, the study also draws attention to the need for them to take non-financial services offered by microfinance institutions seriously to improve on their own human capital development in the context of the SDGs.

scholarly journals Government Antipoverty Programmes and Small and Medium Enterprises Performance in Nigeria

2017 ◽  
Vol 13 (19) ◽  
pp. 371
Author(s):  
Tonna, D. Edoko ◽  
Chigbo D. Ngige ◽  
Ikechukwu M. Okoli
Keyword(s):  
Human Capital ◽  
Skill Acquisition ◽  
Small And Medium Enterprises ◽  
Least Square ◽  
Policy Framework ◽  
Small Scale ◽  
Human Capital Development ◽  
Lending Rate ◽  
Capital Development ◽  
Medium Enterprises

Over the years the Nigerian government has come up with a number of antipoverty programmes aimed at fighting poverty by financing her growth induced sector- SMEs, yet, the country is still witnessing rising levels of poverty, corruption, unemployment, low human capital development, inadequate commercial bank credit, high lending rate and low standard of education, thus, affecting the performance of small scale enterprises. In other to address the conundrum, this study examines the effect of government antipoverty programmes on small and medium enterprises’ performance in Nigeria using econometric regression model of the Ordinary Least Square (OLS). From the regression analysis, the result showed that government antipoverty programmes, corruption, unemployment, human capital development, capital, lending rate and education conformed to the a priori expectations of the study and were statistically significant in explaining the SMEs’ performance in Nigeria. The study recommends that: In order to enhance the success of government antipoverty programmes in Nigeria, the programme should be implemented through the local government on the platform of cooperative societies so that the target population will benefit from it. A blueprint for handling corrupt officials should be embedded in the policy framework of the programme before implementation. The programme should be targeted at unemployed youths with real identity rather than sinking back the funds into the pockets of corrupt officials. Every intending beneficiary should be subjected to training/skill acquisition programme and occasional workshop in the line of trade he/she wants to venture into. Adequate funding at a good lending rate should be provided for any beneficiary of the programme in order to enhance the performance of the business in Nigeria.

scholarly journals Human Capital Development and Economic Development in Nigeria

2021 ◽  
Vol 4 (1) ◽  
pp. 32-44
Author(s):  
Raymond M. ◽  
Ekponaanuadum N.
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Least Square ◽  
Human Capital Development ◽  
Ordinary Least Square ◽  
Long Run ◽  
Misery Index ◽  
The World ◽  
Short Run ◽  
Capital Development

This paper set out to investigate the impact of human capital development on the drive to achieving economic development in Nigerian. It adopted the Ex-post facto research design as the variables-Misery Index, GEH and GEE cannot be manipulated as they have previously occurred. The study span for a period of 38 years which covered from 1981 – 2018. Secondary data sourced from the statistical bulletin of the Central Bank of Nigeria and the world development index of the World Bank was utilized for this study. The study employed the ordinary least square (OLS) method and the Error Correction Model estimation technique to examine the long run relationship and short run dynamics of the variables. The result of the Johansen co-integration test established the presence of long run relationship between misery index, pupil teacher ratio, government spending on education and health. The result of the ordinary least square revealed a negative and significant relationship between misery index and pupil teacher ratio in the long run. The results of the short run analysis revealed that current level of pupil teacher ratio impact on the misery index in Nigeria negatively and significantly. Informed by the discoveries, the study proposed the recruitment of more teachers to improve the current pupil teacher ratio in the country and also increase the budgetary allocation to the education sector.

scholarly journals The Effect of Human Capital Development on Strategic Renewal in the Egyptian Hospitality Industry: The Moderating Role of Dynamic Capabilities

2021 ◽  
Vol 14 (9) ◽  
pp. 38
Author(s):  
Amira M. Omar
Keyword(s):  
Human Capital ◽  
Structural Equation ◽  
Hospitality Industry ◽  
Dynamic Capabilities ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Human Capital Development ◽  
Strategic Renewal ◽  
Capital Development

Purpose: the primary goal of this research is to provide insight into the effect of human capital development on strategic renewal in the Egyptian hotel industry. In addition, to examine the effect of dynamic capabilities as a moderating variable in the relationship between human capital development and strategic renewal. Methods and tools: questionnaires were distributed based on a simple sampling method and collected in the Egyptian hospitality industry. 310 questionnaires were distributed, and 204 usable samples were obtained, yielding a 66% response rate from those who agree to participate. The Partial Least Square-Structural Equation Modeling (PLS-SEM) method has been used for analyzing the data and testing our hypotheses. The analysis of this paper was done using SPSS V. 23 for both descriptive and inferential statistics and Smart PLS V.3.3.3 for PLS-SEM analysis. Results: this study indicates that human capital development has a statistically significant effect on Strategic Renewal; also, the findings observe that Dynamic Capabilities have a statistically significant impact on Strategic Renewal. And the Moderating Effect of dynamic capabilities not approved. Theoretical and empirical contribution: The conceptual model with statistical results that emphasizes the significance of human capital development for the strategic renewal of business enterprises in the Hospitality field of developing countries has been investigated in this study. Human capital development has previously been highlighted, but its impact on strategic renewal has not been extensively investigated. Besides, this study provides valuable insights for decision-makers. As recommends that hotel managers consider human capital development and present it as a vital part of strategy formulation.

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