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 Sources of Economic Growth in Zambia: An Empirical Investigation

2017 ◽  
Vol 18 (2) ◽  
pp. 275-290 ◽  
Author(s):  
Themba G. Chirwa ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
International Trade ◽  
Foreign Aid ◽  
Development Aid ◽  
Human Capital Development ◽  
Long Run ◽  
Short Run ◽  
Capital Development ◽  
Macroeconomic Determinants

In this article, the key macroeconomic determinants of economic growth in Zambia are investigated using the autoregressive distributed lag (ARDL) bounds testing approach. The study has been motivated by the unsustainable growth trends that Zambia has been experiencing in recent years. Our study finds that the key macroeconomic determinants that are significantly associated with economic growth in Zambia include, amongst others, investment, human capital development, government consumption, international trade and foreign aid. The study’s results reveal that in the short run, investment and human capital development are positively associated with economic growth, while government consumption, international trade and foreign aid are negatively associated with economic growth. However, in the long run, the study finds investment and human capital development to be positively associated with economic growth, while only foreign aid is negatively associated with economic growth. These results have significant policy implications. They imply that short–run economic policies should focus on creating incentives that attract investment and increase the quality of education, the effectiveness of government institutions, the promotion of international trade reforms and the effectiveness of development aid. In the long run, development strategies should focus on attracting the accumulation of long-term investment, improving the quality of education and the effectiveness of development aid.

scholarly journals Domestic Resource Mobilization and Human Capital Development in Sub- Saharan Africa

2021 ◽  
Vol 27 (4) ◽  
pp. 504-533
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Resource Mobilization ◽  
Human Capital Accumulation ◽  
Human Capital Development ◽  
Long Run ◽  
Short Run ◽  
Two Measures ◽  
Capital Development ◽  
Domestic Resource

This study investigates the nexus between domestic resource mobilization using aggregated and disaggregated taxes, and human capital accumulation as measured by the index of human capital and total factor productivity. The study explores panel Autoregressive Distributed Lag. We further explore the linear and nonlinear effects of taxes on human capital accumulation. The results from the scatterplots show that taxes at aggregate and disaggregated levels positively correlated with the two measures of human capital. On the linear analysis, the impact of aggregated and disaggregated taxes is largely negative under the index of human capital but largely positive under the second measure in the short-run. However, the long-run results indicate that aggregate and disaggregated taxes significantly amplify human capital accumulation. On nonlinearity, there is no presence of human capital laffer curve (HCLC) in the short-run under the two measures of human capital. However, there is presence of HCLC in the long-run. The net effects results show that some taxes (such as indirect taxes, taxes on goods and services) are distortionary in improving the level of human capital development while some taxes (such as total tax, direct tax, taxes on income, profit, and gains) can distort human capital development in the SSA region.

Human Capital Formation for the Fourth Industrial Revolution

2020 ◽  
pp. 205-228
Author(s):  
Paul Adjei Onyina
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Industrial Revolution ◽  
Human Capital Development ◽  
Representation Of Women ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Role Of Women ◽  
Capital Development

This chapter focuses on the drivers of human capital development in the fourth industrial revolution by examining the role of women. It discusses the role of women in economic development since 570BC. Women are ignored in most important areas in society whereas men are found at the frontline. However, available empirical analyses suggest that when women are empowered, they are able to turn the tables in their favour. The chapter outlines development role played by selected women across time and uses data from studies to show poor representation of women on international bodies and parliamentary seats. Selected women that have led and continue to lead various countries all over the world are presented. This chapter argues that women are important stakeholders in economic freedom. The chapter suggests encouraging society and men in particular to help women become front line participants in the human capital development for the fourth industrial revolution.

Information and communication technologies and economic development in Africa in the short and long run

2019 ◽  
Vol 18 (2) ◽  
pp. 127-146 ◽  
Author(s):  
Olaniyi Evans
Keyword(s):  
Economic Development ◽  
Information And Communication Technologies ◽  
Communication Technologies ◽  
Least Square ◽  
Cross Sectional ◽  
Ordinary Least Square ◽  
Positive Effects ◽  
Long Run ◽  
Short Run ◽  
Information And Communication

This study investigates the relationship between information and communication technologies (ICTs) and economic development in Africa for the period 2001–15 using Fully Modified Ordinary Least Square (FMOLS) and panel Granger analysis, which accounts for cross-sectional dependence. The empirical results show that ICTs have significant positive effects on economic development. Similarly, the results show that ICTs lead to economic development and economic development also leads to greater investment in ICTs both in the short and in the long run. ICTs therefore play significant roles in economic development and in turn economic development plays significant roles in the expansion of ICTs in Africa both in the short and in the long run. The study concludes that the rapid growth of mobile telephony and Internet penetration in Africa can be used to promote the needed economic development in the continent not only in the short run but also in the long run.

Impact of Selected Macroeconomic Determinants on Economic Growth in India: An Empirical Study

2018 ◽  
Vol 22 (4) ◽  
pp. 405-415 ◽  
Author(s):  
Rajesh Sharma ◽  
Pradeep Kautish ◽  
D. Suresh Kumar
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Exchange Rate ◽  
Foreign Aid ◽  
Consumption Expenditure ◽  
Human Capital Development ◽  
Long Run ◽  
Short Run ◽  
Capital Development ◽  
Macroeconomic Determinants

Due to the socio-economic, infrastructural and governance peculiarities, identification of key macroeconomic factors determining the economic growth in developing countries becomes a complicated case. The present study attempts to assess the impact of foreign aid, government consumption expenditure, foreign direct investment, trade openness, exchange rate, human capital development, and inflation on economic growth in India by using yearly data for the period of 46 years, that is, from 1971 to 2016. An autoregressive distributed lag (ARDL) bounds model enables to examine the short-run and long-run impact of selected determinants on economic growth during the study period. The outcomes of the study find that in the long run, foreign aid, the government’s final consumption expenditure and foreign direct investment have a positive and significant impact on economic growth, whereas, economic growth has been negatively influenced by exchange rate and human capital development. Contrary to the long run, foreign aid has a negative and significant impact on economic growth in the short run. The short-run outcomes show that all the selected macroeconomic determinants have either negative or positive influence on economic growth. To ensure the long-run economic growth, besides regulating the exchange rate fluctuations, policies related to export -import and human capital development need to be re-examined.

scholarly journals ICT Investment Impact on Human Capital Development through the Channel of Financial Development in Bangladesh: An Investigation of Quantile ARDL and Toda-Yamamoto Test

2020 ◽  
Vol 9 (5) ◽  
pp. 112
Author(s):  
Md. Qamruzzaman ◽  
Salma Karim
Keyword(s):  
Human Capital ◽  
Financial Development ◽  
Positive Association ◽  
Wald Test ◽  
Human Capital Development ◽  
Causality Test ◽  
Long Run ◽  
Short Run ◽  
Capital Development ◽  
Toda And Yamamoto

The study aims to assess the causal effects of ICT investment, financial development, and human capital development in Bangladesh for the period 1990-2019. To do so, we applied liner ARDL, Quantile ARDL, and directional causality investigated by performing a non-granger causality test. The result of Quantile ARDL confirms long-run effects running from ICT investment and financial development to human capital development. Considering the result short-run estimation, study findings established a positive association between financial development and human capital development but both positive and negative observed in ICT investment on human capital development.  Furthermore, the nonlinear relationship established with the standard Wald test. Second, the results of directional causality test following Toda and Yamamoto (1995) proposed framework. Study findings established bidirectional causality running between financial development and human capital development and unidirectional causality running from ICT investment to human capital development. Therefore, it assumed that human capital development in Bangladesh critically relies on financial sector growth and development in the ICT sector. Furthermore, it is also observed that the bidirectional causal relationship also confirmed that is the development of either independent variables can influence each other.

scholarly journals Human Capital Development and Economic Growth Nexus in Zimbabwe

2019 ◽  
Vol 23 ◽  
Author(s):  
Sanderson Abel ◽  
Nyasha Mhaka ◽  
Pierre Le Roux
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Positive Impact ◽  
Labour Force ◽  
Government Expenditure ◽  
Human Capital Development ◽  
Long Run ◽  
Short Run ◽  
Capital Development ◽  
The Relationship

This study empirically examined the relationship between human capital development and economic growth in Zimbabwe for the period 1980 to 2015, using time series analysis techniques of co-integration, error correction model, and Granger causality tests. The study was motivated by changes which have characterised the financing of human capital since the country attained independence. A decade after independence, the government was able to adequately finance the social sectors; however, thereafter government financing has been declining since the adoption of the structural adjustment programme. The findings of this study indicate the existence of a short-run and long-run relationship between human capital development and economic growth in Zimbabwe. On the direction and significance of the relationship, the result is mixed. Human capital development, proxied by government expenditure on health, had a significant positive impact on economic growth—both in the short run and the long run—reaffirming that a healthy labour force will be more productive and efficient. Human capital development, proxied by government expenditure on education, was found to negatively impact economic growth in the long run. In conclusion, a positive relationship between human capital development and economic growth in Zimbabwe was found, although the relationship is weak.

Human Capital Formation for the Fourth Industrial Revolution

2021 ◽  
pp. 1613-1631
Author(s):  
Paul Adjei Onyina
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Industrial Revolution ◽  
Human Capital Development ◽  
Representation Of Women ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Role Of Women ◽  
Capital Development

This chapter focuses on the drivers of human capital development in the fourth industrial revolution by examining the role of women. It discusses the role of women in economic development since 570BC. Women are ignored in most important areas in society whereas men are found at the frontline. However, available empirical analyses suggest that when women are empowered, they are able to turn the tables in their favour. The chapter outlines development role played by selected women across time and uses data from studies to show poor representation of women on international bodies and parliamentary seats. Selected women that have led and continue to lead various countries all over the world are presented. This chapter argues that women are important stakeholders in economic freedom. The chapter suggests encouraging society and men in particular to help women become front line participants in the human capital development for the fourth industrial revolution.

Determinants of Total Factor Productivity in Mexico, Indonesia, Nigeria, and Turkey (1980–2014)

2018 ◽  
Vol 4 (2) ◽  
pp. 192-217 ◽  
Author(s):  
Phillip Akanni Olomola ◽  
Tolulope Temilola Osinubi
Keyword(s):  
Human Capital ◽  
Total Factor Productivity ◽  
Negative Relationship ◽  
Annual Data ◽  
Factor Productivity ◽  
Distributed Lag ◽  
Long Run ◽  
The World ◽  
Government Stability ◽  
Short Run

This study analyzed the macroeconomic and institutional determinants of total factor productivity (TFP) in the MINT (Mexico, Indonesia, Nigeria, and Turkey) countries during the period 1980–2014. Annual data covering the period between 1980 and 2014 were used. Data on real gross domestic product (real GDP), labor force, gross fixed capital formation, foreign direct investment (FDI), human capital, and inflation were sourced from the World Development Indicators published by the World Bank. Also, data on corruption, government stability, and law and order were obtained from the database of International Country Risk Guide. Panel autoregressive distributed lag (PARDL) regression technique was used to estimate the model. Results showed that TFP growth rate declined on average by 1.4 per cent and 1.8 per cent in Mexico and Turkey, respectively, while Indonesia and Nigeria did not experience productivity growth on the average. Results also showed that in the long run, human capital and government stability had positive and significant effects on TFP, while FDI and corruption had negative but significant effects on TFP. In the short run, there existed a significant negative relationship between TFP and inflation. However, the effects of human capital and corruption on TFP were positive and significant. The study concluded that human capital and corruption were key drivers of TFP in the MINT countries both in the long run and short run.

scholarly journals Impact of Exchange Rate Management on the Nigerian Economic Growth: Empirical Validation

2019 ◽  
Vol 1 (2) ◽  
pp. 28-35
Author(s):  
Friday Osaru Ovenseri Ogbomo ◽  
Precious Imuwahen Ajoonu
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Inflation Rate ◽  
Government Expenditure ◽  
Least Square ◽  
Ordinary Least Square ◽  
Exchange Rate Management ◽  
Long Run ◽  
Short Run ◽  
The Impact

This paper examined the impact of Exchange Rate Management on economic growth in Nigeria between 1980 and 2015. The study was set to gauge how the management of exchange rate in Nigeria has impacted the economy. The study employed the Ordinary Least Square (OLS) method in its analysis. Co-integration and Error Correction Techniques were used to establish the Short-run and Long-run relationships between economic growth and other relevant economic indicators. The result revealed that exchange rate management proxy by various exchange rates regimes in Nigeria was not germane to economic growth. Rather, government expenditure, inflation rate, money supply and foreign direct investment significantly impact on economic growth in Nigeria. It is against this backdrop that the Nigerian economy must diversify her export base to create room for more inflow of foreign exchange.  

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