Economic Growth and Human Capital Development: the Case Study of Nigeria

Authors

Moses F. Otu, Central Bank of Nigeria
Adeniyi O. Adenuga, Central Bank of NigeriaFollow

Publisher

Central Bank of Nigeria

Keywords

Economic Growth, Human Capital, Human Capital Development, Nigeria

Abstract

The paper examines empirically the relationship between economic growth and human capital development using Nigeria data. Microeconomics variables such as Growth of real gross domestic products (RGDPG), capital expenditure (CE) on education. recurrent expenditure on education (RE), real gross capital formation (RGCF) was used to proxy physical formation, enrolment into primary (PRYE), post-primary (PPE) and tertiary (TERE) educational institutional were used to proxy human capital development. It found that investment in human capital, through the availability of infrastructure requirements in the education sector accelerates economics growth.

Author Bio

Messrs Otu and Adenuga are both Assistant Director and Principal Economist, respectively, in the Research and Statistics Department, Central Bank of Nigeria, Abuja.

Publication Title

CBN Economic and Financial Review

Issue

3

Volume

44

Recommended Citation

Otu, Moses F. & Adenuga, Adeniyi O. (2006). Economic Growth and Human Capital Development: the Case Study of Nigeria. Economic and Financial Review. 44(3), 1-27.