Pregledni rad
https://doi.org/10.32728/ric.2017.33/5
AN ANALYSIS OF HUMAN CAPITAL DEVELOPMENT AND PRODUCTIVITY GROWTH- CASE STUDY, NIGERIA
Opeyemi Oluwabunmi Adejumo
orcid.org/0000-0002-8073-3153
; Institute for Entrepreneurship and Development Studies, Obafemi Awolowo University, Ile-Ife, Osun State, Nigeria
Akintoye Victor Adejumo
orcid.org/0000-0003-1291-0039
; Department of Economics, Obafemi Awolowo University, Ile-Ife, Osun State, Nigeria
Sažetak
In order to address the direction of causality between human capital and productivity growth in Nigeria, the study first investigated the pattern of productivity growth in Nigeria between 1970 and 2010. Following the endogenous growth model, which argued that technical progress, through an effective labor force, could lead to long-run growth which can be determined from within an economy; but it actually depends on the efficiency with which resources available to such an economy are utilized. This is against the exogenous growth model which emphasized that long-run growth can be attained by some unexplained technological progress, which is exogenous to any economy. Based on this controversy in literature, this study empirically determined the productivity growth in Nigeria, as well as the causal relation between human capital development and productivity growth in Nigeria using the Engle-Granger causality test. The results revealed that productivity growth has
been very low and unstable in Nigeria as it oscillated between -1.5% and 0.6%. In addition, the nexus between human capital and productivity growth was examined. The findings revealed that while productivity growth caused human capital development, human capital development did not cause productivity growth.
Ključne riječi
Human Capital; Growth; Productivity; Causality; Education
Hrčak ID:
187210
URI
Datum izdavanja:
30.9.2017.
Posjeta: 5.129 *