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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Human capital development and economic growth in Nigeria: a structural break perspective. |
| Authors Name: | Oloke, Olufunnso O , Usman O.A. , Adebayo Moses |
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| Author Reg. ID: |
IJNRD_188588
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| Published Paper Id: | IJNRD2303463 |
| Published In: | Volume 8 Issue 3, March-2023 |
| DOI: | |
| Abstract: | The study examined human capital development and economic growth in Nigeria using secondary data obtained from CBN statistical bulletin for the period of forty years between 1981-2020. Agriculture (AGR), Civil-Service (CIVSER), Education (EDU), Health (HLTH), Manufacturing (MANU) and Transportation (TRANSP) sectors of Nigerian economy were used from 1981 to 2020 as proxies for expenditure on human capital development and independent variables for the studies while Gross Domestic Product (GDP) was used as proxy for economic growth and the dependent variable. Structural break analysis was used which shows no structural break occurrence in Nigeria within the period of study. It could also be seen that expenditure on human capital development on civil servants, education, manufacturing and health were found significant with exception of agriculture and transportation that were not significant in the least square results generated with the structural break analysis. Generally, with the R-squared and Adjusted R-squared of 96% and 95% respectively, it could be submitted that for forty years under consideration, there is smooth correlation between human capital development and economic growth in Nigeria. The Structural Adjustment Program (SAP) that was introduced in July 1986 and lasted till June 1998 was not strong enough to influence human capital development and economic growth. This was supported by the structural break graph and cusum graph. |
| Keywords: | Structural break, Structural adjustment program, human capital development, economic growth. |
| Cite Article: | "Human capital development and economic growth in Nigeria: a structural break perspective.", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 3, page no.e497-e505, March-2023, Available :http://www.ijnrd.org/papers/IJNRD2303463.pdf |
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| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2303463 Registration ID: 188588 Published In: Volume 8 Issue 3, March-2023 DOI (Digital Object Identifier): Page No: e497-e505 Country: Ogbomoso, Oyo State, Nigeria Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2303463 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2303463 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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