To What Extent Does Human Capital Development Impact Economic Growth? Empirical Evidence From Nigeria.

Abstract This study examined the effect of human capital development on the economic growth of Nigeria. In achieving this, the human capital variables of education and health care were included in the study. The study employed the Autoregressuve and Distributive Lag (ARDL) model to annual series covering the period 1983 to 2018 for analysis. The findings of the study revealed the presence of a long-run association among the stuady variables. Further, it was discovered that in both the short and long run, both components of human capital development produce a positive effect on economic growth, although the effect of education appeared to be larger. The study emphasized the need for policymakers to enhance both access to and quality of health care and education with a view to stimulating the economic growth of Nigeria.