Citation:

Joseph Olufemi OGUNJOBI, Oluwasegun Shadrack ESEYIN, Abel A. AWE. "Human Capital Development and Economic Growth in Nigeria: An ARDL Bound-Testing Approach" International Research Journal of Economics and Management Studies, Vol. 3, No. 8, pp. 144-153, 2024.

Abstract:

The development of human capital as a means of promoting economic progress in Nigeria is the main emphasis of this study. The investigation used time series data from 1981 to 2018. The data analysis method employed was ARDL Bound-Testing. It was discovered that the human capital development factors of education and health had favorable and statistical significance effects on economic growth. The study, therefore, recommended that to achieve a sustainable impetus for economic growth, a robust action plan focusing on the rejuvenation of the country’s educational and health sectors must be entrenched. In addition, the recommendation for an upward review of yearly budgetary provisions to these two sectors was also made coupled with holistic restructuring and overhauling of the concerned agencies affiliating the sectors.

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Keywords:

ARDL Bound-Testing, Economic Growth, Human Capital Development, Nigerian Economy, Nigeria.