Human Capital, structural change and economic growth developing countries: the case of Nigeria
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Date
2019
Authors
Lawanson, O.I.
Evans, O.
Journal Title
Journal ISSN
Volume Title
Publisher
University of Lagos Press and Bookshop
Abstract
The objective of this study is to determine if structural change plays a role in the relationship between human capital and economic growth in developing countries. The case study is Nigeriafor the period 1981 to 2016 using Solow- Swan model and dynamic OLS. The study shows that the effect of human capital on growth is more significant when the country enters into the kind of
structural change which demands for highly skilled labour. The traditional share of the value added has significant negative relationship with GDP growth, implying that economic growth is higher when the share of traditional activities is less. Further, the diversification of exports has a significant and positive effect on GDP growth, implying that a key factor for higher growth is the capacity of entrepreneurs to introduce new exportables via new investments in modern activities. The effect of human capital on growth is greater when diversification is higher and the share of the traditional activities is less. The implication is that, the change from traditional activities such as agriculture to modern industries has a significant
Description
Staff publications
Keywords
Human capital , Structural change , Economic growth , Nigeria
Citation
Lawanson, O.I. and Evans, O. (2019). Human Capital, structural change and economic growth developing countries: the case of Nigeria. Economics of Human resource: issues, challenges and opportunities.