TY  - JOUR
T1  - Human Capital Investment and Economic Growth in Nigeria: A Long-Run Path
AU - Oluwaseyi, A. Adelowokan 
JO  - Pakistan Journal of Social Sciences
VL  - 9
IS  - 4
SP  - 188
EP  - 194
PY  - 2012
DA  - 2001/08/19
SN  - 1683-8831
DO  - pjssci.2012.188.194
UR  - https://makhillpublications.co/view-article.php?doi=pjssci.2012.188.194
KW  - Human capital investment
KW  -private capital investment
KW  -government spending
KW  -economic growth
KW  -long-run path
AB  - Human capital investment has been seen as impetus to sustainable 
  economic growth and this has necessitated the increase in government spending 
  by major economies including Nigeria in order to achieve a steady long-run growth 
  path and meet up with the Millenium development goal target. On this basis, 
  the effect of human capital investment on economic growth in Nigeria between 
  a decade after independence (1970) and 2009 is examined based on the endogenous 
  growth theory framework. Following the underlying assumptions of the Endogenous 
  Growth Model, real output is regressed on private capital investment, government 
  human capital investment, human capital consumption and openness to trade. The 
  time series of the variables were examined using the Augmented Dickey-Fuller 
  unit root test and all of the series were found non-stationary at levels excluding 
  population growth of economic active. Engle-Granger Cointegration test result 
  revealed that there is long-run growth path between human capital investment 
  and economic growth in Nigeria. However, the result of the cointegrating regression 
  indicated that capital investment from the private and public sector and human 
  capital consumption tends to be important factors that enhance real economic 
  growth in Nigeria. While growth of economic active population and economic openness 
  exert negative influence on economic growth in Nigeria.
ER  -