ABSTRACT
The study examines the impact of
Human Capital Development (HCD) Nigeria on Economic Growth in Its analysis is
predicted on multivariate co integration where real GDP growth rate is the
dependent variable while recurrent expenditure on education, real gross capital
formation, primary enrolment; post primary education enrolment and tertiary
education are independent variable.
It finds that capital formation; post
primary education enrolment; tertiary education enrolment and recurrent
expenditure on education promote economic growth in Nigeria.
The coefficient of tertiary
institutions emanating from factors such as inadequate funding, weak
infrastructure, incessant strike, and disruption in academic activities.
Government should appreciate the fact
that no country can develop above is educational base.
TABLE OF CONTENT
Page
TITLE PAGE
CERTIFICATION
ACKNOWLEDGEMENT
TABLE OF CONTENT
ABSTRACT
CHAPTER ONE
1.0 Introduction
1.1 Statement
of the problem
1.2 Objective
of the study
1.3 Justification
of the study
1.4 Scope
of the study
1.5 Source
of Date and method of analysis
1.6 Organization
of the study
CHAPTER TWO
LITERATURE REVIEW AND THEORETICAL FRAMEWORK
2.0 Introduction
2. 1 The concept of Human Capital
2.2 Theory
of Human Capital Development
2.3 Indices
of Human Capital Development
2.4 Importance
of Human Capital Development
CHAPER THREE
STRUCTURAL BACKGROUND AND RESAERCH METHOD
3.0 Introduction
3.1 Historical Background
3.2 The Investment and consumption
of paradigms of further education and training
3.3 Methodology
3.4 Research
Question
3.5 Research
Hypothesis
CHAPTER FOUR
PRESENTATION OF ANALYSIS AND INTERPRETATION OF RESULT
4.0 Model Specification
4.1 Augumentation
CHAPTER FIVE
SUMMARY OF FINDING, CONCLUSION AND RECOMMENDATION
5.0 Introduction
5.1 Summary of finding
5.2 Recommendation
5.3 Limitation of study
REFERENCES
CHAPTER ONE
INTRODUCTION
In the global terms, knowledge on all
ramification of human endeavor, be it engineering, marketing, medicine and so
on, is the pivot upon which the fulcrum of wisdom gravitate. This accounts for the differences in development on the private life and national life of individuals and the nations all over the world.
No country has achieved sustained economic development without substantial
investment in human capital. Several studies have evolved to analyze the channel through which human capital can affect growth (Barro, et al, 1995; Temple, 1990).
However, human capital development
has been described as an end or objective of development. It is a way to fulfill the potential of people by enlarging their capability and this necessarily
implies empowerment of people, enabling them to participate actively in their
own development.
Human capital is also a means since
it enhances their skills, knowledge, productivity and intensiveness of people
through a process of human capital development formation broadly conceived. Thus, human capital development is
people centered strategy and not goods centered or production centered strategy
of development. What truly matters is the empowerment of people to identify their own priorities and to implement
programmes and projects of direct benefit to them.
The impact of social spending on
economic growth is gaining prominence in the literature. It is becoming
increasingly important to investigate the effect of good public health system and quantitative education on the economic growth of nations of the world.
Productivity has long been linked to
both quality health care and good education. Basic education is critical to
participation and productivity in economic life. A healthy labour force increase both the amount of growth
realized from establishing a sound investment climate and strongly reinforce
the poverty reduction benefits from that growth. This example of education clearly shows that the two
pillars of investment climate and development are closely connected to support each oilier.
Todaro (2000) states that education
serves the dual purpose of increasing both empowerment and economic growth. In
the first instance, education allows people to be more
aware of their responsibility and their fundamental and qualified rights. It opens up an opportunity to know
how to do things better.
This in turn not only increases
individual income, it increases that of the nation and this economic growth
aims to improving people's life. However, it does not mean education provision,
there is the better societies need to look carefully at the nature and
allocation of education provision in relation to the needs and aspiration of
the society. Education indicates knowledge and.
skills which raise productivity, but it can
also perpetuate social, inequalities impair values attitudes and aspirations that are
not conducive to development.
Government expenditure lean toward
teaching, hospital, tertiary e.t.c. Improvement in the could be either improving the income of the people so
that they can obtain quality health care
or improving the health care facilities.
Increasing the income of the people to
provide for themselves quality health care has been found to be tremendous benefit
to the people of the third world countries e.g Nigeria. It has been potential
positive impact on the national income of the nation.
1.1 STATEMENT
OF THE STUDY
In every country of the world, human
capital development has been world one of the main factor of economic growth
and development and it is known that there cannot be significant economic
growth in the country without adequate human capital. In the past, mush of the
planning in Nigeria was centered on the accumulation of physical capital for
rapid growth and development, without recognition of the important role played
by the human capital development process.
Infact a country's most valuable
assets are people and a defective incentive system can result in waste of human
resources through human capital formation.
1.2 OBJECTIVES OF THE STUDY
Given the present state of manpower
situation in Nigeria, the broad objective of the study is to examine the impact
of human capital development on economic
growth. Specifically, it aims at:
1. Examining
the role of capital formation on the country's GDP.
2 Ascertaining the effect of
students enrollment on economic growth
3. Finding the impact of current
expenditure on education in real GDP growth rate.
1.2 JUSTIFICATIONS OF THE STUDY
Significantly, education and training
contribute to workers stock of human capital - the knowledge and skill that
make for a product {GDP) in Nigeria.
However, improvements in labour
account for about two-thirds of the increases in real Gross Domestic Products (GDP). Improved
technology, more capital, greater education and training, economies of scale,
and better resources allocation will
be the main contribution to Nigeria growth
if policy options emanating from this
study are implemented. More importantly, technological advancement is a
critical engine of productivity growth and has accounted for the increase in
output growth In Nigeria. Generally, technological advancement is generated
from the discovery of new knowledge, which enables for resources to be combined in improves
ways.
1.4 SCOPE
OF THE STUDY
The study covers the period;
1977-2006. The period coincides with the oil boom era,
Pre-SAP, SAP and post SAP era,
globalization period and era of economic reforms.
1.15 SOURCE OF DATA AND METHOD OF ANALYSIS
This .study adopts secondary data. It
was sourced mainly from Central Bank of
Nigeria (CBN) Statistical bulletin and Annual
economic and Financial Report, and
educational curriculum of the Federal Republic of Nigeria. The method of
analysis for the study is multivariate
co-integration.
The research consists of five
chapters, chapter one is the introduction, chapter two is the literature
review, while chapter three is the structural background and methodology, chapter
four is the presentation, analysis and interpretation of result while chapter
five is the summary of finding, conclusion and recommendations.
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