Financial Development, Human capital Accumulation and Economic Growth: Empirical Evidence from Nigeria
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Date
2019
Authors
Akeredolu, M.
Saibu, O.
Journal Title
Journal ISSN
Volume Title
Publisher
Department of Economics, University of Lagos
Abstract
In recent times, much attention is given to the financial development-growth nexus, but via the physical capital accumulation channel. This study differed by examining this nexus, via the human capital accumulation channel. The paper examined the effects of human capital accumulation and financial development on economic growth in Nigeria. Growth models that incorporated financial development and human capital accumulation variables were specified and estimated. The study using the cointegration regression approach revealed results that showed financial development has significantly improved human capital development and in turn, human capital development was found to be a fundamental driver of economic growth in Nigeria. The policy implication from the findings of the study implies that policy options that stimulate financial development can indirectly enhance human capital development and also enhance the financial development-growth nexus
Description
Scholarly articles
Keywords
Financial development , Human capital development , Economic growth , Nigeria , Research Subject Categories::SOCIAL SCIENCES
Citation
Akeredolu M.O and Saibu M.O (2019) Financial Development, Human capital Accumulation and Economic Growth: Empirical Evidence from Nigeria in Economics of Human Resources: Issues, Challenges and Opportunities: A Festschrift in honour of Professor Folayan Ojo Edited by Lawanson I.O & Nwakeze N,M Chapter 4 Pp 39-56