The study examines the impact of human capital development on economic growth in Nigeria. The study sought to find out how human capital development (education and health) contributes to economic growth (GDP, unemployment and employment rate) in Nigeria. Investment in Education and health are always not considered in Nigeria which limits the economic growth in Nigeria thereby not contributing to gross domestic product in Nigeria. Poor consideration of human capital development result to high level unemployment, low GDP and low employment rate in Nigeria. The main objective is to examine the impact of human capital development on economic growth in Nigeria. Time series data were collected from secondary source from 1999-2015. The Ordinary Least Square was adopted and finding reveals that human capital development and economic growth in Nigeria is insignificant. The study also found that human capital development contributes to unemployment rate in Nigeria but does not contributes to GDP and employment rate in Nigeria. It is therefore recommended that Nigeria government should re-strategies its human capital development policies and develop a programme to solve human development needs in terms of education and health since there is insignificant relationship between human capital development and economic growth.
Impact of Human Capital Development on Economic Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1980 to 2012. The paper employs OLS methodology. The result shows that considering the magnitude, 1% increase in GDP is brought about by 22% increase in human capital. This postulates that an increase in allocation to education and health will lead to increase in GDP. The estimated value of R2 (goodness of fit) of 0.80 or 80% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
Human Capital Development as a Recipe for Sustainable Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1981 to 2013. The paper employs OLS methodology with BLUE assumptions, wald test, breusch Godfrey and pairwise granger test was also used to argument the OLS methodology. The result shows that considering the magnitude 1% increase in RGDP (proxy Economic growth) is brought about by 46% increase in (EXPHLTH) expenditure on health, 107% increase in (GFCF) gross fixed capital formation, 92% increase in (TEXPEDU) total expenditure on education, 0.00091% increase in (TLBF) Total labour force. The estimated value of R2 (goodness of fit) of 0.98 or 98% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
Impact of Human Capital Development on Economic Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1980 to 2012. The paper employs OLS methodology. The result shows that considering the magnitude, 1% increase in GDP is brought about by 22% increase in human capital. This postulates that an increase in allocation to education and health will lead to increase in GDP. The estimated value of R2 (goodness of fit) of 0.80 or 80% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
Human Capital Development as a Recipe for Sustainable Growth in Nigeriapaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic growth. Thus, enhancing effective investment on education and health has been a tenet of growth and development strategies for most countries. The basic objective of this paper investigated the relationship between human capital (through education and effective health care services) and economic growth in Nigeria, using annual time series data from 1981 to 2013. The paper employs OLS methodology with BLUE assumptions, wald test, breusch Godfrey and pairwise granger test was also used to argument the OLS methodology. The result shows that considering the magnitude 1% increase in RGDP (proxy Economic growth) is brought about by 46% increase in (EXPHLTH) expenditure on health, 107% increase in (GFCF) gross fixed capital formation, 92% increase in (TEXPEDU) total expenditure on education, 0.00091% increase in (TLBF) Total labour force. The estimated value of R2 (goodness of fit) of 0.98 or 98% and it show that the independent variables explain about 80% of the variation in the dependent variable. The findings have a strong implication on educational and health policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational and health investment in order to accelerate growth which would engender economic growth.
Human capital: Education and health in economic development egpShivani Baghel
A brief study on the economic development of health and education in India in the present scenario.
It talks about joint investment in both the sectors considering their rate of return, while dealing with questions like why increasing income is not sufficient? It also briefs about child labor and gender gap.
The Influence of Economic Growth on Poverty, Investment, and Human Developmen...Suwandi, Dr. SE.,MSi
This paper discusses about the economic growth that has a direct impact on Human Development Index (HDI) and indirect one on the increase of investment absorption and decrease of poverty. Besides, we can know that economic growth has a direct impact on the increase of investment, as well as it directly affects the decrease of poverty level by using partial test quantitative analysis. To increase the economic growth and reduce poverty as well as to increase HDI, these are what to do (a) revitalizing the agriculture to help main sector of Fak Fak district (agriculture); (b) giving modal such as: banking soft loan with easy terms and revolving fund for the right target in the form of natura (cows, sheeps, etc.) that can accelerate the increase of economic; (c) regional government facilitates the linkage and partnership program with “win-win solution” concept.
Investment in Education Entrepreneurship and Economic Growth in Nigeriapaperpublications3
Abstract: The paper investigated the relationship between investment in education, entrepreneurship and economic growth in Nigeria using annual time-series data from 1981 to 2013. OLS methodology, Johansen Co-integration and Error correction technique were employed to analyze macroeconomic data sourced from CBN statistical bulletin. The OLS result shows through its 98% goodness of fit value that all variable except unemployment are positively related to the gross domestic product, proxy for economic growth in Nigeria. The Co-integration test and the Error-correction technique revealed that a long-run relationship exists between investment in education, entrepreneurship and economic growth in Nigeria. The study suggests that the government should take appropriate measures to adequately invest in the educational sector and also place more attention on the development of small and medium-sized enterprises in order to ensure sustainable economic growth in Nigeria.
Various Variables to Trigger Entrepreneurial Intention for Young Entrepreneur...inventionjournals
Indonesia faces major problems related to the development of the entrepreneurial spirit of the young people. To Strengthen Indonesia's competitiveness at the global level, the strengthening of the entrepreneurial movement should be as the main agenda and to be done consistently. The majority of the Indonesian population is the group of young people. So, a systematic effort to foster an interest in entrepreneurship of a young people is required. This study examines various variables triggering the growing of entrepreneurship intention of the young entrepreneurs in East Java. This study found that family support is a major factor for strengthening the young entrepreneurs' intention in entrepreneurship. The study also showed that entrepreneurship education and social environmental support as an initial trigger which influence the growth of entrepreneurial intention of young entrepreneurs. Entrepreneurship education will influence the personality of the young entrepreneurs, while the environmental support will influence the entrepreneurial attitude of the young entrepreneurs. Furthermore, personality and entrepreneurial attitude will influence the growth of entrepreneurial intention. Based on this study, it is suggested that entrepreneurship education needs to be done earlier, ranging from primary education to the higher education. Furthermore, there should be further studies, specifically intended to strengthen entrepreneurship education and strengthen the role of the environment to foster entrepreneurship intention.
The State of the Youth Report is an audit of the Government of Uganda's investment in Young People. It is based on the demands made by the young people contained in the 2016-2021 National Youth Manifesto.
ENTREPRENEURSHIP DEVELOPMENT AND UNEMPLOYMENT IN NIGERIAIJM Journal
A number of policy intermediations in Nigeria that were targeted at inspiring and stimulating entrepreneurship development through small and medium scale enterprises have botched. In its place of creating in-country entrepreneurial capacity, entrepreneurs have been converted and become distribution agents of imported goods. This paper argues the development of entrepreneurship and stressed that it has been instrumental in economic growth, balanced regional development and job creation in most vibrant economies, where technology is changing at a faster rate and the product lifetime cycle is dwindling. This paper also looks at Nigeria’s growing unemployment situation and how it increasingly deteriorates the potentials of the country. It emphasizes the prominence and significance of entrepreneurship as realistic machinery for sustainable economic growth and employment generation in Nigeria seeing the experiences of developed nations like Australia, the United States and vibrant economies like China and India.
Human Resources and Economic DevelopmentAyesha Arshad
INTRODUCTION TO HUMAN RESOURCES & ECONOMIC DEVELOPMENT
INDICATORS OF HUMAN RESOURCES
IMPORTANCE OF HR DEVELOPMENT
COMPONENTS OF HUMAN RESOURCE DEVELOPMENT
SOCIAL/ NON-ECONOMIC FACTORS OF ECONOMIC GROWTH
Dr.C.Muthuraja's 'Economic Growth Rate in India : Issues and Concerns' Chinnasamy Muthuraja
Economic Growth Rate in India : Issues and Concerns Presented in One Day Workshop on ‘Economic Growth Rate in India’ on 30.03.2016 organized by Department of Economics, Mannar Thirumalai Naicker College, Madurai
An Analysis of Impact of Human Capital Investment on Demographic Characterist...inventionjournals
The demographic features of the 2011census of India have revealed that India is the second largest country next to China in terms of working age population (25 - 50 years) in the world. It has been known that the country’s economic growth is based on both natural and human resources available in the country. Still, there are more avenues for effective and efficient use of labour-productivity in this age group. It is well conceived by the theory that the human resources are the biggest contributor of economic growth which is augmented by a process of human capital formation. Of late, health and education have been viewed as the two dimensions of human capital which are treated as an indicator of social welfare. The variations in health status of different age groups in market and non-market labour productivities are still prevalent in many developing countries. The low health status persons contribute less to human capital formation than of others (Behrman and Deolalikar, 1988). According to them, “Health is a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity”. Therefore, it cannot be purchased by the consumers in the market as we do for other goods and services in the market. On the other hand, it can be produced by spending time upon health improving activities, as well as, purchasing medical inputs (Grossman M., 1972). Behrman has pointed out that there is an inverse relationship between low health status and human capital formation. Therefore, the economists have focused their attention to study the determinants and impact of health status on economic growth. The present study attempts to analyse the human capital investment and its impact of socio- economic status on human resources (HR) in Chennai district, Tamil Nadu. To aid our research effort, an extensive literature has also been reviewed in an attempt to answer various queries raised. On the basis of the statement of problems, the research questionnaires have been canvassed among the respondents to obtain the information. This study is based on databases obtained both from primary and secondary sources. The information through primary sources has been collected with the help of interview schedule. The secondary data on Human Capital Investment and the Impact of Socio- Economic Status on Human Resources have been collected from various sources in Chennai City. In the health sector, this study focuses its attention to reporting illness, amount spent, days lost. Some of the opted econometric techniques have been used to examine the objectives of the study. Our empirical strategy has applied the following tools of analysis. The statistical tools like OLS, PROBIT and LOGIT techniques are used to analyze the indicator ‘selfreported illnesses. And, ‘Health expenditure’ and ‘number of days lost’ are estimated by OLS and TOBIT techniques, besides by applying correlation, regression analysis.
The effect of career development, leadership style and organizational culture...inventionjournals
The practice of career development, leadership style and organizational culture on organizational commitment to employee satisfaction is an important factor in achieving the good governance. Causality between variables built into the model by using the 7,342 employees working in 37 regional work unit (SKPD) in the province of Papua. The sampling technique is done by using proportionate random sampling, the sample size in order to obtain a number of 379 employees with a response rate of 36.41 %, so overall the questionnaire used to analyze just 138 employees. The results of the analysis of moment structures using Ver. 21 provides evidence that career development and organizational culture proved can improve employee job satisfaction. Other facts suggest that the better career development and leadership style, the higher the employee organizational Commitment while organizational culture and employee job satisfaction was not shown to improve organizational commitment.
Corporate Social Responsibility Model Based On “Tri Hita Karana” Cultureinventionjournals
This research was conducted with the background of the CSR activities that are usually done by the company including the BPR industry. So far, CSR has not been adjusted to the values of local wisdom. One of the values of local wisdom in Bali that can be adopted by companies is the cultural value THK. Therefore, this study has the objective to explain the model of CSR-based cultural values THK. This study used a qualitative approach using key informants are stakeholders of the BPR industry, consisting of: the director of BPR, BPR commissioner, banking analyst, cultural experts, and academics. The number of informants there are as many as 15 people. The results showed that the BPR in Bali has implemented CSR activities such as: providing funding punia to pretend, to invite employees to tirta yatra, took off in the days of Hinduism, planting trees, using conditioned taste, using office facilities friendly environment, provide a decent salary, give a reasonable interest rate, giving social assistance to orphanages / nursing, until there doing house renovation. The various CSR activities when combined with cultural concepts THK then be grouped into parahyanganbased CSR, CSR-based pawongan, and CSR-based palemahan. All this THK-based CSR activities have a positive impact for all stakeholders BPR industry in Bali, such as: maintenance of harmonious relations with the BPR employees, customers and the surrounding community, the preservation of the natural environment is good, and the increased performance of BPR.
Human capital: Education and health in economic development egpShivani Baghel
A brief study on the economic development of health and education in India in the present scenario.
It talks about joint investment in both the sectors considering their rate of return, while dealing with questions like why increasing income is not sufficient? It also briefs about child labor and gender gap.
The Influence of Economic Growth on Poverty, Investment, and Human Developmen...Suwandi, Dr. SE.,MSi
This paper discusses about the economic growth that has a direct impact on Human Development Index (HDI) and indirect one on the increase of investment absorption and decrease of poverty. Besides, we can know that economic growth has a direct impact on the increase of investment, as well as it directly affects the decrease of poverty level by using partial test quantitative analysis. To increase the economic growth and reduce poverty as well as to increase HDI, these are what to do (a) revitalizing the agriculture to help main sector of Fak Fak district (agriculture); (b) giving modal such as: banking soft loan with easy terms and revolving fund for the right target in the form of natura (cows, sheeps, etc.) that can accelerate the increase of economic; (c) regional government facilitates the linkage and partnership program with “win-win solution” concept.
Investment in Education Entrepreneurship and Economic Growth in Nigeriapaperpublications3
Abstract: The paper investigated the relationship between investment in education, entrepreneurship and economic growth in Nigeria using annual time-series data from 1981 to 2013. OLS methodology, Johansen Co-integration and Error correction technique were employed to analyze macroeconomic data sourced from CBN statistical bulletin. The OLS result shows through its 98% goodness of fit value that all variable except unemployment are positively related to the gross domestic product, proxy for economic growth in Nigeria. The Co-integration test and the Error-correction technique revealed that a long-run relationship exists between investment in education, entrepreneurship and economic growth in Nigeria. The study suggests that the government should take appropriate measures to adequately invest in the educational sector and also place more attention on the development of small and medium-sized enterprises in order to ensure sustainable economic growth in Nigeria.
Various Variables to Trigger Entrepreneurial Intention for Young Entrepreneur...inventionjournals
Indonesia faces major problems related to the development of the entrepreneurial spirit of the young people. To Strengthen Indonesia's competitiveness at the global level, the strengthening of the entrepreneurial movement should be as the main agenda and to be done consistently. The majority of the Indonesian population is the group of young people. So, a systematic effort to foster an interest in entrepreneurship of a young people is required. This study examines various variables triggering the growing of entrepreneurship intention of the young entrepreneurs in East Java. This study found that family support is a major factor for strengthening the young entrepreneurs' intention in entrepreneurship. The study also showed that entrepreneurship education and social environmental support as an initial trigger which influence the growth of entrepreneurial intention of young entrepreneurs. Entrepreneurship education will influence the personality of the young entrepreneurs, while the environmental support will influence the entrepreneurial attitude of the young entrepreneurs. Furthermore, personality and entrepreneurial attitude will influence the growth of entrepreneurial intention. Based on this study, it is suggested that entrepreneurship education needs to be done earlier, ranging from primary education to the higher education. Furthermore, there should be further studies, specifically intended to strengthen entrepreneurship education and strengthen the role of the environment to foster entrepreneurship intention.
The State of the Youth Report is an audit of the Government of Uganda's investment in Young People. It is based on the demands made by the young people contained in the 2016-2021 National Youth Manifesto.
ENTREPRENEURSHIP DEVELOPMENT AND UNEMPLOYMENT IN NIGERIAIJM Journal
A number of policy intermediations in Nigeria that were targeted at inspiring and stimulating entrepreneurship development through small and medium scale enterprises have botched. In its place of creating in-country entrepreneurial capacity, entrepreneurs have been converted and become distribution agents of imported goods. This paper argues the development of entrepreneurship and stressed that it has been instrumental in economic growth, balanced regional development and job creation in most vibrant economies, where technology is changing at a faster rate and the product lifetime cycle is dwindling. This paper also looks at Nigeria’s growing unemployment situation and how it increasingly deteriorates the potentials of the country. It emphasizes the prominence and significance of entrepreneurship as realistic machinery for sustainable economic growth and employment generation in Nigeria seeing the experiences of developed nations like Australia, the United States and vibrant economies like China and India.
Human Resources and Economic DevelopmentAyesha Arshad
INTRODUCTION TO HUMAN RESOURCES & ECONOMIC DEVELOPMENT
INDICATORS OF HUMAN RESOURCES
IMPORTANCE OF HR DEVELOPMENT
COMPONENTS OF HUMAN RESOURCE DEVELOPMENT
SOCIAL/ NON-ECONOMIC FACTORS OF ECONOMIC GROWTH
Dr.C.Muthuraja's 'Economic Growth Rate in India : Issues and Concerns' Chinnasamy Muthuraja
Economic Growth Rate in India : Issues and Concerns Presented in One Day Workshop on ‘Economic Growth Rate in India’ on 30.03.2016 organized by Department of Economics, Mannar Thirumalai Naicker College, Madurai
An Analysis of Impact of Human Capital Investment on Demographic Characterist...inventionjournals
The demographic features of the 2011census of India have revealed that India is the second largest country next to China in terms of working age population (25 - 50 years) in the world. It has been known that the country’s economic growth is based on both natural and human resources available in the country. Still, there are more avenues for effective and efficient use of labour-productivity in this age group. It is well conceived by the theory that the human resources are the biggest contributor of economic growth which is augmented by a process of human capital formation. Of late, health and education have been viewed as the two dimensions of human capital which are treated as an indicator of social welfare. The variations in health status of different age groups in market and non-market labour productivities are still prevalent in many developing countries. The low health status persons contribute less to human capital formation than of others (Behrman and Deolalikar, 1988). According to them, “Health is a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity”. Therefore, it cannot be purchased by the consumers in the market as we do for other goods and services in the market. On the other hand, it can be produced by spending time upon health improving activities, as well as, purchasing medical inputs (Grossman M., 1972). Behrman has pointed out that there is an inverse relationship between low health status and human capital formation. Therefore, the economists have focused their attention to study the determinants and impact of health status on economic growth. The present study attempts to analyse the human capital investment and its impact of socio- economic status on human resources (HR) in Chennai district, Tamil Nadu. To aid our research effort, an extensive literature has also been reviewed in an attempt to answer various queries raised. On the basis of the statement of problems, the research questionnaires have been canvassed among the respondents to obtain the information. This study is based on databases obtained both from primary and secondary sources. The information through primary sources has been collected with the help of interview schedule. The secondary data on Human Capital Investment and the Impact of Socio- Economic Status on Human Resources have been collected from various sources in Chennai City. In the health sector, this study focuses its attention to reporting illness, amount spent, days lost. Some of the opted econometric techniques have been used to examine the objectives of the study. Our empirical strategy has applied the following tools of analysis. The statistical tools like OLS, PROBIT and LOGIT techniques are used to analyze the indicator ‘selfreported illnesses. And, ‘Health expenditure’ and ‘number of days lost’ are estimated by OLS and TOBIT techniques, besides by applying correlation, regression analysis.
The effect of career development, leadership style and organizational culture...inventionjournals
The practice of career development, leadership style and organizational culture on organizational commitment to employee satisfaction is an important factor in achieving the good governance. Causality between variables built into the model by using the 7,342 employees working in 37 regional work unit (SKPD) in the province of Papua. The sampling technique is done by using proportionate random sampling, the sample size in order to obtain a number of 379 employees with a response rate of 36.41 %, so overall the questionnaire used to analyze just 138 employees. The results of the analysis of moment structures using Ver. 21 provides evidence that career development and organizational culture proved can improve employee job satisfaction. Other facts suggest that the better career development and leadership style, the higher the employee organizational Commitment while organizational culture and employee job satisfaction was not shown to improve organizational commitment.
Corporate Social Responsibility Model Based On “Tri Hita Karana” Cultureinventionjournals
This research was conducted with the background of the CSR activities that are usually done by the company including the BPR industry. So far, CSR has not been adjusted to the values of local wisdom. One of the values of local wisdom in Bali that can be adopted by companies is the cultural value THK. Therefore, this study has the objective to explain the model of CSR-based cultural values THK. This study used a qualitative approach using key informants are stakeholders of the BPR industry, consisting of: the director of BPR, BPR commissioner, banking analyst, cultural experts, and academics. The number of informants there are as many as 15 people. The results showed that the BPR in Bali has implemented CSR activities such as: providing funding punia to pretend, to invite employees to tirta yatra, took off in the days of Hinduism, planting trees, using conditioned taste, using office facilities friendly environment, provide a decent salary, give a reasonable interest rate, giving social assistance to orphanages / nursing, until there doing house renovation. The various CSR activities when combined with cultural concepts THK then be grouped into parahyanganbased CSR, CSR-based pawongan, and CSR-based palemahan. All this THK-based CSR activities have a positive impact for all stakeholders BPR industry in Bali, such as: maintenance of harmonious relations with the BPR employees, customers and the surrounding community, the preservation of the natural environment is good, and the increased performance of BPR.
Customer Decision Making Style, Based On Bugis –Makassar Culture in Indonesiainventionjournals
This research aims to describe the style of consumer decisionmakingphilosophyisbased on the application of behaviorderivedfrom culture Bugis in Makassar. The importance of knowing the style of the customer purchased ecision because there are manycompanies offering the same services, sothatconsumers are free to choose and move from one company to another. Thus the onlycompany capable of doing the best approach to consumers, whichis able to survive and successfully won a loyal customer. This article tries to explore ways or approachesthatcanbedone to reachconsumers in accordance with the cultural characteristics and desires of consumers, for the writing of thisisbased on searchesdonethroughscholarlywritings and non-scientific (derivedfrom magazines and newspapers on line and non on line) in Makassar.
Effects of Personality Traits on Hedonic Travel Motivationinventionjournals
Travel motivation has been seen as the key driving force behind travel behavior. One of these motivations is the hedonic motivation to travel and some conceptualizations were made to determine the antecedents of travel motivations. However, there are relatively little research attention to see the big five traits as one antecedent of hedonic motivation to travel. In this study, the data sample was collected through a survey from a sample of 124 Portuguese university students and the hypothesis tests showed some valid conclusions. The results showed that personality traits, more specifically, the openness to experience and conscientiousness have an effect in hedonic motivation to travel.
The Impact of Brand Image on the Customer Retention: A Mediating Role of Cust...inventionjournals
In modern time, researchers and practitioners in the field of marketing has paid enormous attention to brand. Currently, the brand is no longer a competent tool in the managers’ hands. Brand is a strategic requisite which helps companies to make more value to customers and also to build up sustainable competitive advantages. Successful brands increase trust in products and intangible services, and customer will be able to better visualize and identify their services. Brand image is the awareness of the product or services for the customer through which the image of the organization is built. Customer satisfaction is also linked with it and positively related with each other which are considered the important tool for marketing strategy. This paper examines the influence of brand image on customer retention under the mediation effect of customer satisfaction.
Niche Marketing and Value-Based Differentiation in the Footwear Industrial Su...inventionjournals
This study empirically examines the relationship between niche marketing and value differentiation in the footwear sub-sector of the shoe and leather industry in Nigeria. A cross-sectional survey method was adopted for the study and cluster sampling technique was applied to draw the sample from the population of footwear retailer outlets in Ogun State. A structured questionnaire was administered on 235 respondents who were randomly selected. Cronbach coefficient of 0.79 showed a high degree of reliability of the research instrument. Using regression as an analytical tool, the result of the first hypothesis revealed that there is significant relationship between niche marketing and value differentiation in Nigeria’s footwear industry (R2 = 0.961; F = 14.866; p = 0.000). Similarly, the result of the second hypothesis showed that product characteristics is significantly related to value differentiation in Nigeria’s footwear industry (R2 = 0.801; F = 9.369; p = 0.000). The result of the third hypothesis also indicated a positive relationship between market characteristics and value differentiation in Nigeria’s footwear industry. Also, the fourth hypothesis showed that there is significant relationship between company characteristics and value differentiation in Nigeria’s footwear industry. The study concludes that niche marketing is an important strategy for the achievement of value differentiation aimed at stimulating consumers’ purchase decisions especially in the retailing outlets of footwear sub-sector in Nigeria
Credit Cooperatives Development Strategy through Partnership with Financial I...inventionjournals
This study aims to understand and construct partnership model between cooperatives and financial institutions in Papua Province. This research used a qualitative method design which utilizes phenomenological approach. The informants involved in this research are 8 informants who have a background as cooperatives management (caretakers) and employees of financial institutions. This result is the strategy of credit cooperative in Papua to arrange partnership with financial institution is based on mutual principle. Cooperative should improve its management to meet feasibility and bankability criteria, including (a) capital resource, legal aspect, and collateral which should be highly considered by the cooperative management and (b) human resource practice like good administrative affairs, good governance, and trust that must be the priorities to improve cooperative business. These matters can encourage financial institution to arrange partnership with cooperatives in Papua Province which then can make those cooperatives grow and develop.
An exposition of public accountability and public responsibility with referen...inventionjournals
Research indicates that a reasonable number of scientists, scholars and practitioners argue that a few terms and concepts political science, public administration and administrative law are used so freely, and confusingly as public responsibility and public accountability. Furthermore, in many textbooks available the impression is created that the two concepts are synonymous if not equitable. As shown in this article, this is, however, not quite true. What follows is a reasoned exposition of terminological and semasiological distinctions between public accountability and public responsibility.
An Assessment of Impact of Some Demographic Variables on Traveling Behavior o...inventionjournals
A logistic regression model has attempted for determining the potential determinants of traveling habit of Dhaka city dwellers. The regression parameters were estimated by Newton-Raphson iteration procedure. Occupation, Income, Age, Marital status, Sex, Family size and Education were found to have significant impact on traveling behavior.
Exploring the Impact of the use of Business Information systems BIS on the or...inventionjournals
Business Information System BIS is considered as a critical tool, which has a major supporter of the economy which use BIS in an effectively manner. Organizations marked experiencing and acceleration towards the use of BIS to support its operations in order to improve performance and achieve superiority over competitors, which is reflected in the organizational effectiveness. This study aims to identify the impact of the use of Business Information Systems BIS on the organizational performance effectiveness in banks in Jordan. The study population are all (23) banks in Jordan. The study instrument distributed a (42) questionnaire to all senior directors in the banks, The questionnaires were analysed using regression, correlation analysis in order to determine the impact of business information systems BIS and its dimensions as an independent variable on the organizational performance effectiveness which is dependent variable in banks in Jordan.. The study outcomes shown that business information system BIS adoption would increase organizational performances, and offering practical suggestions that may ensure the achievement of the objectives to be accomplished by using BIS contributing to organisational effectiveness. Beside, effective use of BIS in banks would maximizing the total value to financial performance. Also Banks in Jordan gives great importance to the use of BIS significantly, in the belief that they contribute to improving the competitive position.
Economic Analysis of Externalities Cottage In The Presence Of Boarding Darul'...inventionjournals
This research was conducted in Jombang regency precisely in the area of Pondok Pesantren Darul 'Ulum Jombang. The reasons for selecting a location, known as the city's first is Jombang that some students was choose. So, in this case can illustrated with some boarding schools in the Jombang and supported by the local government's vision to make handsome as a city faithful who supported many boarding school. So that boarding schools can be used as a magnet or a special attraction for people living outside in Jombang and expected with character behavior for Jombang society according to the vision of local government, so as to empower for the boarding school that can be used as a cultural and education can lead to a positive economic externalities. A assessment of the management of economic externalities are expected by pack a problem to be beautiful and aesthetic.
Philosophy as the study of results of special sciencesinventionjournals
There is not unanimity amongst philosophers as what philosophy actually studies. Various schools of thought exist. As a consequence one school of thought represented by Herbert Spencer states that philosophy is not an individual science but that it studies the sumtotal of the truths of the individual sciences, giving a kind of universal truth arrived at by means of and through a systematic synthesis of various sciences. This then forms the subject – matter of this journal article.
Local Government Grants And Sme Performance, Evidence From Surakarta City, In...inventionjournals
This study analyzes effects of government direct spending to Small and Medium Entreprises (SME). Some scholars and policy makers belief that government should issues several industrial policies to strengthen SME performance. This study analyzes those policies in Surakarta city. In this study, we assess the effect of local government direct spending to SME such as, capital grants and low rate loan to their business performance. We conduct survey which involved 500 SME in manufacturing. Our resuls shows that capital grants and loan policy by local government in Surakarta has positive effect to SME assets, capital and turnover. This study shows that capital grant is more effective compare to other government assistance such as equipment grants and loan to increase SME’s business performance. In this study, industrial policy for SME is not limited to business regulation but it also include direct assistance from local government for these business organizations.
Risk Perception Of Turkish Helicopter Pilots And The Relationship Between The...inventionjournals
:Aircraft and flight system accidents due to human error sare more common than accidents due to mechanical failure. This study aims to determine the risk perception of Turkishhelicopterpilots and the relationship between their flight experience decision making styles. In this context, the analyses are conducted among helicopter pilots flying in accordance with general aviation rules. In this context, analyses are conducted with the participation of helicopter pilots flying according to general aviation rules (n=308) in Turkey. In the light of these analyses, it is seen that there is a relationship between the risk perceptions and decision making styles of the pilots. Also, there are considerable differences found between the flight hours and decision making styles of the pilots. However, there are no significant differences between the ages and the decision making styles. The results are discussed in comparison to the studies in the literature.
The Effect Of Economic Value Added And Earning Per Share To Stocks Return (Pa...inventionjournals
: The purpose of this study is to examine the effect of Economic Value Added (EVA) and Earning per Share (EPS) on stocks return. This study was taken because there are still differences between the research study with each other. This research was conducted using secondary data. Population in this research was a with time company incorporated in the index LQ 45 in Indonesian Stock Exchange period 2013-2014. Sampling technique using was purposive sampling. There are 21 companies to analyzed. This study using multiple regression with panel data. Results shows that Economic Value Added (EVA) have positive significant effect on Stock Return, while Earning Per Share (EPS) also have positive significant on Stock Return. Adjusted R Square value was 0,395091 means 39,50% can explained by the independent variable, while 60,50% are influenced by the other variables which have not been included in the research model.
Assessment of Plantation Sector Contribution to the Economic Growth in North ...inventionjournals
Plantation sector as the most important sector of the Indonesian economy which holds a lot of potentials for the future economic and income development of the nation. This research aimed at finding the contribution of plantation sector toward economic growth in North Sumatra using Social Accounting Matrix (SAM) analysis. A SAM can be used as a basis for an economy-wide model with several appealing features. It represents a very general accounting model, which subsumes all possible ‘real-life’ national accounting systems. Based on the SAM analysis it was found that plantation sector gives a significant influence on economic growth in North Sumatra, Indonesia. The biggest contribution comes from palm oil and its manufacturing such as CPO, vegetable oil and other similar product. Moreover, Plantation sector also give a significant influence to the household income. This can be showed from HIM of palm oil which reached IDR 1,4348 billion, followed by CPO, vegetable oil and similar product that reached IDR 1,3668 billion. In addition, Rubber oil reached IDR 1, 3628 billion that also categorized high.
Special conceptual problems and challenges which emerge when the regional sys...inventionjournals
This article specifically studies certain particular conceptual problems and challenges that emerge when the regional system is regarded as the focal point in a study of Africa in international politics then making the study special in various ways.
The Evaluation of Smartphone Brand Choice: an Application with The Fuzzy Elec...inventionjournals
The purpose of our study is to measure consumers’ evaluation of purchasing smartphones while considering the most effective criteria on buying smartphones. We consider top five smartphone brands that mostly comes into mind. First, we carried out a preliminary examination to determine the top five brands favoured by consumers. Furthermore, we asked about consumers’ smartphone choosing criterias. Findings of the preliminary examination showed that the most preferred brands are Samsung, Apple, LG, HTC and Sony, respectively. The effective criteria in consumer preferences are noted as price, screen size, heaviness, ease of use, resolution, design and durability. Our main sample consisted of 250 students at Gazi University, Ankara. We used fuzzy ELECTRE I method to analyse the data. Considering seven criteria, we found that consumers firstly prefer Samsung, secondly iPhone and thirdly LG
The Analysis of BPJS Surgery Price in Inpatient Room Army Hospital Based on A...inventionjournals
This study aims to identify and analyze how the determination of rates surgical inpatient unit at the hospital under Kesdam VII / Wirabuana Makassar using Activity Based Costing System (ABC), ATP and WTP. This is a descriptive study conducted at Hospital Level II Pelamonia from May to July 2015. The study population was all the financial transactions of the hospital during the year 2014 (for the analysis of 2015) and patients in the inpatient unit of the Army Hospital Kesdam VII/Wirabuana the RS Tk II Pelamonia Makassar. The samples were all financial transactions of the hospital during the year 2014 (for the analysis of 201 ) obtained in general , finance , equipment , administration , all poly hospitals , and hospitalization , as well as 60 patients in inpatient hospital Army Kesdam VII / Wirabuana. ABC analysis using Microsoft Excel and the ATP and WTP analysis using SPSS. ABC analysis found that the actions of Rp.353.352 Surgery Small, Medium Surgerys for Rp.718.157, Surgery Big amounted Rp.3.825.003 and Advanced Surgerys for Rp.12.419.154. Analysis found that the rate is based on ATP Small surgery rates can be paid by all classes ranging from Class VIP, Class I, Class II and Class III. Surgery Medium rate can also be paid by all classes ranging from Class VIP, Class I, Class II and Class III. The surgery rate of the patient can only be paid VIP class. Advanced Surgerys and rate can not be paid by all classes ranging from Class VIP, Class I, Class II and Class III. Analysis found that the rate is based on WTP Small Operating rates can only be paid by the VIP class. Surgery Medium rate can not be paid by all classes ranging from Class VIP, Class I, Class II and Class III. Rate of the surgery can not be paid by all classes ranging from Class VIP, Class I, Class II and Class III. Advanced Surgerys and rate can not be paid by all classes ranging from Class VIP, Class I, Class II and Class III. Price Rational Analysis on the Surgery Room rates based ABC, ATP and WTP patient is where the Small surgerys amounted to 400,000, amounting Rp.1.250.000 Surgery Medium, Large Surgery of Rp.4.000.000 and Advanced Surgerys for Rp.12.500.000, -
An investigation into the antecedents of organizational citizenship behaviors...inventionjournals
The purpose of this research was to test and empirically analyze the effect of commitment, culture, and organizational support on Organizational Citizenship Behavior. The mediating role of job satisfaction. The design of this research using survey method with the collection of data in cross-section through the questionnaire. Simple random sampling is used on 200 employees, hypothesis testing using Structural Equation Modeling (SEM). This study provides evidence that commitment, culture and organizational support is a positive and significant effect on the job satisfaction. The other causality shows that organizational commitment and organizational support is a positive and significant effect on the Organizational Citizenship Behavior. The organizational culture and job satisfaction is positive but not significant effect on Organizational Citizenship Behavior. Job satisfaction is not a mediating role in explaining the effect of commitment, culture and organizational support on Organizational Citizenship Behavior. The practical implications of this research provide increased knowledge and understanding of the employees and the management to make changes in Organizational Citizenship Behavior of the Islamic banking employees to the good direction through organizational commitment and organizational support. The limitations of this study on the sample size using only permanent employees and the Islamic Banks just so limit the ability to generalize the results of the research findings. Originality of research provides basic configuration modeling development towards using SEM and conceptual models that proved the effect of commitment, culture and organizational support to increased Organizational Citizenship Behavior to employees-good direction by entering the job satisfaction
The Impacts of Health and Education Components of Human Resources Development...iosrjce
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
Government Intervention, Subjective Norms and the Entrepreneurial Intentions ...ijtsrd
The economic situation presently in Nigeria is such that there is massive youth unemployment and underemployment in Nigeria. The situation as a result has made it difficult to access assistance from family and friends. The main objective of this paper was the investigation of the effect of government interventions and subjective norms on the entrepreneurial intentions of graduates of Nigeria Universities. A sequential mixed research design was adopted. A structured questionnaire was used to elicit responses from graduates of two universities located in Anambra State, Nigeria. A census of the 391 graduates was conducted. Interviews were conducted using ten selected purposively graduates from the sample. Statistical Package for Social Sciences was used to carry out moderated and mediated regression analyses. The data collected were analysed to enable the assessment of the impact of government intervention and subjective norm predictor on entrepreneurial intention dependent variable . The results showed significant mediated and moderated relationships which implied that government intervention explained the relationship between this predictor and subjective norm, and the entrepreneurial intention. It was the finding of the study that there is a need for government to urgently ensure a conducive environment that provides the improvement of the economic situation, thereby generally giving hope to the youths and enabling family and friends to be able to encourage, advise, and give financial support to the graduates. Government should be sincere and equitable in the distribution of intervention programmes targeting youths and the graduates and should guarantee equity in the implementation of government programmes. Uzoka, Onyechi Leonard | Nwaizugbo, I. Chukwudi "Government Intervention, Subjective Norms and the Entrepreneurial Intentions of Nigerian University Graduates" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd43691.pdf Paper URL: https://www.ijtsrd.commanagement/other/43691/government-intervention-subjective-norms-and-the-entrepreneurial-intentions-of-nigerian-university-graduates/uzoka-onyechi-leonard
Role of Finance and Organizational Climate on Entrepreneurial Development amo...ijtsrd
Entrepreneurship is a key driver of economic growth and economic development. It is also a medium through which unemployment can be reduced and innovation can be promoted. It is a fact to say that entrepreneurship is a panacea for poverty reduction and eradication which is one of the cardinal eight point agenda of Millennium Development Goals. Entrepreneurship is seen as a key vehicle for employment creation, creation of economic wealth, and an essential means of enhancing the innovation dynamics in the local, regional and national economies Chris 2010 . Entrepreneurship provides a satisfying and rewarding working life, provides a flexible lifestyle and considerable business autonomy. It is becoming an increasingly important career option for unemployed people, secondary school and university graduates. At the national level, entrepreneurial activity contributes to economic growth and economic development Chris 2010 . Many researchers have written extensively on entrepreneurship and its effectiveness to the development of any given economy. Akanni 2008 further opined that the experiences of developed economies in relation to the roles played by entrepreneurship buttresses the fact that the significance of entrepreneurship cannot be overemphasize particularly among developing countries. In order to highlight its importance in relation to the growth and development of a given economy, entrepreneurship has been variously referred to as "source of economic growth". This is because entrepreneurial activities have been found to be capable of making positive impact on the economy of a nation and the quality of life of the people Adejumo, 2000 . Ojo Adeshina Akinwumi | Abifarin Olusola Michael | Dr. Okoklie Emmanuel Azuka "Role of Finance and Organizational Climate on Entrepreneurial Development among Selected Residents" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30297.pdf Paper Url :https://www.ijtsrd.com/other-scientific-research-area/other/30297/role-of-finance-and-organizational-climate-on-entrepreneurial-development-among-selected-residents/ojo-adeshina-akinwumi
EDUCATION AS A PATHWAY TO SUSTAINABLE GROWTH IN NIGERIApaperpublications3
Abstract: The crucial role of education in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential human capital which is a paramount condition for sustained economic development. The basic objective of this paper investigates the authenticity of education being the pathway to sustainable economic development in Nigeria, using annual time series data from 1981 to 2014. The paper employs OLS methodology using Cobb Douglas production with white heteroskedasticity testing, wald test analysis and breusch pagan godfrey autocorrelation test. The results shows that considering the magnitude 1% increase in RGDP (proxy Economic growth) is brought about by 118% increase in (GFCF) gross fixed capital formation, 114% increase in (TEXPEDU) total expenditure on education, 22% increase in total recurrent expenditure on education (TREXPEDU) and 0.00095% increase in (TLBF), total labour force. R2 shows that 98% systematic variation in Real GDP is caused by variation in the explanatory variables. This indicates that there is, indeed a short and long-run relationship between education, and economic development. The findings have a strong implication on educational policy in Nigeria. The study seems to suggest that a concerted effort should be made by policymakers to enhance educational investment with a focus on human capital development in order to ensure and accelerate inclusive growth that would engender economic development.
THE ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT OF NIGERIANAJHSSR Journal
: Entrepreneurial industries was selected one from each Geo political zone in Nigeria with
population of 387 on the whole descriptive survey design was used and correlation coefficient was used in
determining the relationship between these variable and economic development in Nigeria. Entrepreneurship, all
over the world is acclaimed as a significant factor in economic development. Entrepreneurship does not only
increase per capital income it also increases factor utilization. It is also a veritable change agent of the structure
of business and society. As a change agent it acts as a catalyst for the generation of new ideas, products,
methods of production and the distribution of the products so produced. The jobs created, the new technologies
developed, the improved production method, the increase in output both in terms of quantity and quality are all
the ingredients for economic growth and development. The paper has explored the roles of entrepreneurship at
different sectors of the economy. In carrying out the research this paper is of the view that because of the
capacity of entrepreneurship to generate increased output, its ability to create jobs through formation of new
enterprises, to facilitate transfer of technology or adoption of technology, to invigorate large scale enterprises, to
harness resources, that might otherwise be latent and to stimulate growth in those sectors which supply it with
input; because it is able to encourage and sustain economic dynamism that enables a country to adjust
successfully in a rapidly changing global economy, entrepreneurial development is a sine qua non in the
development of any country especially, a developing country. Conclusion were made and the study
recommended that more job opportunity will be created policies strengthened, environment should be improved
for financing and investment welcomed.
Influence of budgetary allocation on performance of youth group project in th...oircjournals
The need to empower youth for a better tomorrow is connected both, to the financial elevation as well as increment of the standard of living. Therefore, the study sought to establish the influence of budgetary allocation on performance of youth group project in the county government of Uasin Gishu. The study was guided by budget theory. The study employed the use of survey design in order to accomplish the research objectives. The accessible population for the study was 375 representatives of different youth groups and 65 officials of devolved fund initiative in Uasin Gishu County. Sample size was computed using the Fishers formula. Proportionate sampling was applied to select respondents. The researcher employed the use of questionnaire and interview schedule to collect data from participants. This study used descriptive statistics and inferential statistics. Descriptive statistics were done using frequency percentages, means and standard deviation of each variable. The coefficient of variation were used where data were skewed. Correlation and regression were used to show the relationship between the dependent variable and the whole group of independent variables. The results of the study were presented using Tables and figures. The study found that budgetary allocation has a positive and a significant influence on performance of youth group project in the county government of Uasin Gishu (β1=0.154, p<0.05). The study concluded that the amount disbursed to youths is equally distributed and done in time. Funds disbursements are based on projects types and the youth can compete competitively by accessing enough amount of money to finance their businesses. The study recommends that the training programs on entrepreneurship should be enhanced and be made compulsory before the group is funded. This will ensure that the youth will be able to make the right decision on investments as well as on proper accounting of their financial resources.
This study evaluates the role of capital accumulation on labour productivity growth in Nigeria. Endogenous growth and efficiency wage theories are employed in explaining the determinants of labour productivity. The ordinary least squares method of estimation employed to evaluate the effect of capital accumulation on labour productivity and employment generation in Nigeria over the time frame of 1970-2014. The findings of this study include: education expenditure and capital formation’s impact on labour productivity growth is time dependent; health expenditure positively impacts labour productivity growth; compensation to employee negatively impacts productivity growth in Nigeria.
The Role of Education and Health in human capital development, Even though there are different perspectives to economic growth, there is a general con¬sensus that growth will lead to a good change manifested in increased capacity of people to have control over material assets, intellectual resources and ideology, and obtain physical necessities of life like food, clothing, shelter, employment, etc. The belief in human capital as a necessity for
Promoting Economic Security and Employment Generation through Effective Manag...iosrjce
This paper focused on promoting economic security and employment generation through effective
management of education and entrepreneurial skills in Nigeria. Highlighted in the paper were some means
through which economic security, employment generation and entrepreneurial skills could be enhanced for
students in tertiary institutions. The definition of some terms was outlined. Further discussed in the paper were:
the importance of developing entrepreneurial skills curriculum in education; managing education through
effective utilization of entrepreneurship education for promotion of economic security and employment
generation; and the challenges affecting effective utilization of entrepreneurship education for promotion of
economic security and employment generation. Some recommendations were proffered towards managing
education through effective utilization of entrepreneurship education as means for promoting economic and
employment generation. Among such recommendations included: education stakeholders and government
should ensure adequate funding of education; and effective propagation and utilization of entrepreneurship
education into the school curricular. This should be done throughout all the levels of education from basic
education, secondary education and higher education in order to inculcate into individuals entrepreneurial
skills that will promote economic security and employment generation.
Incidence of poverty, budget cuts and under development in Nigeria calls for a rethink on the economic planning and
social policies if we really want to see sustainable economic development. This is informed by the increasing
widening gap that has developed overtime between the rich and the poor, and between rural areas and urban areas. It
seems that government‟s provisions are either not enough or failing, this study will want to take a deep look into the
system and provide an alternative way out to ensure and foster cooperation and sustainable economic development in
Nigeria. To do these, the study evaluates the impact of rural road constructions; unemployment and school enrolment
on Poverty Index and Gross Domestic Product. Secondary data was collected from reliable and authentic sources and
these were analyzed by multivariate regression. The result obtained show that Expenditure on Rural Roads (ERC) (β
= -4.177, t-statistic = -1.257; P>0.05), Unemployment Rate (UR) (β = -0.018, t-statistic = -0.035; P>0.05) and
School Enrolment (SE) (β = 0.086; t-statistic = 0.721; P>0.05) were insignificant independent predictors of Poverty
Index. - PI = 62.731-4.177ERC-0.018UR+0.086SE. Also Expenditure on Rural Roads (ERC) (β = -14.452, t-statistic
= -0,265; P>0.05) and Unemployment Rate (UR) (β = -11.644, t-statistic = -1.427; P>0.05) were insignificant
independent predictors of Gross Domestic Product while School Enrolment (SE) (β = 6.424; t-statistic = 3.275;
P<0.05) is a significant independent predictors of Gross Domestic Product. - GDP = -1005.852-14.452ERC11.644UR+6.424SE. These, show the need for Social investment when nearly all acclaimed variables have failed.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
R&R and Tetra Engineering Group Inc. were asked to solve the issue with reduced steam production.
An inspection had shown that a significant amount of hot flue gas was bypassing the boiler tubes, where the heat was supposed to be transferred.
R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Industrial Training at Shahjalal Fertilizer Company Limited (SFCL)MdTanvirMahtab2
This presentation is about the working procedure of Shahjalal Fertilizer Company Limited (SFCL). A Govt. owned Company of Bangladesh Chemical Industries Corporation under Ministry of Industries.
Cosmetic shop management system project report.pdfKamal Acharya
Buying new cosmetic products is difficult. It can even be scary for those who have sensitive skin and are prone to skin trouble. The information needed to alleviate this problem is on the back of each product, but it's thought to interpret those ingredient lists unless you have a background in chemistry.
Instead of buying and hoping for the best, we can use data science to help us predict which products may be good fits for us. It includes various function programs to do the above mentioned tasks.
Data file handling has been effectively used in the program.
The automated cosmetic shop management system should deal with the automation of general workflow and administration process of the shop. The main processes of the system focus on customer's request where the system is able to search the most appropriate products and deliver it to the customers. It should help the employees to quickly identify the list of cosmetic product that have reached the minimum quantity and also keep a track of expired date for each cosmetic product. It should help the employees to find the rack number in which the product is placed.It is also Faster and more efficient way.
Student information management system project report ii.pdfKamal Acharya
Our project explains about the student management. This project mainly explains the various actions related to student details. This project shows some ease in adding, editing and deleting the student details. It also provides a less time consuming process for viewing, adding, editing and deleting the marks of the students.
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.
RAT: Retrieval Augmented Thoughts Elicit Context-Aware Reasoning in Long-Hori...
Impact of Human Capital Development on Economic Growth in Nigeria
1. International Journal of Business and Management Invention
ISSN (Online): 2319 – 8028, ISSN (Print): 2319 – 801X
www.ijbmi.org || Volume 5 Issue 3 || March. 2016 || PP—62-68
www.ijbmi.org 62 | Page
Impact of Human Capital Development on Economic Growth in
Nigeria
Iriabije Alex Oisaozoje, Opusunju, Michael Isaac
Department of Economics Faculty of Social Sciences University of Uyo, Uyo.
Department of Business Administration Nasarawa State University, Keffi
ABSTRACT: The study examines the impact of human capital development on economic growth in Nigeria.
The study sought to find out how human capital development (education and health) contributes to economic
growth (GDP, unemployment and employment rate) in Nigeria. Investment in Education and health are always
not considered in Nigeria which limits the economic growth in Nigeria thereby not contributing to gross
domestic product in Nigeria. Poor consideration of human capital development result to high level
unemployment, low GDP and low employment rate in Nigeria. The main objective is to examine the impact of
human capital development on economic growth in Nigeria. Time series data were collected from secondary
source from 1999-2015. The Ordinary Least Square was adopted and finding reveals that human capital
development and economic growth in Nigeria is insignificant. The study also found that human capital
development contributes to unemployment rate in Nigeria but does not contributes to GDP and employment rate
in Nigeria. It is therefore recommended that Nigeria government should re-strategies its human capital
development policies and develop a programme to solve human development needs in terms of education and
health since there is insignificant relationship between human capital development and economic growth.
Keywords: human capital development, Education, health, economic growth and GDP
I. Introduction
Human capital development is the key to the economic growth process of Nigerian and it is the process of
determining and assuring that Nigerian will have adequate number of qualified persons available at the proper
times to contribute economic growth in Nigeria. Human capital consists of inherited and acquired abilities of
labour with education being the primary source of acquiring these abilities. Human capital investment includes
investment by society in education, investment by employment in training, and investment by individuals of
time and money in their own development.
As Nigeria became obsolete in human capital, they are confronted with the problem of inability to deliver
quality service, inability to attract and retrain the workers and difficulty in the development and training of
highly talented personnel which in turn reduced the economic growth of Nigeria. Investment in Education and
health are always not considered in Nigeria which limits the economic growth in Nigeria thereby not
contributing to gross domestic product in Nigeria. Poor consideration of human capital development result to
high level of unemployment, low GDP and low employment rate in Nigeria.
Previous study such as Oladeji (2015) investigates the relationship between human capital (through education
and effective health care services) and economic growth in Nigeria and Jaiyeoba (2015) empirical investigation
on the relationship between investment in education, health and economic growth in Nigeria using Johansen
cointegration and ordinary least square technique. This study fills the research gap in knowledge by
investigating the impact of human capital development on economic growth in Nigeria using Ordinary Least
method of regression and e-view statistical software package.
The scope of this study cover a 17-year period from 1999 – 2015 and this period is chosen because its mark the
beginning of the democratic dispensation in Nigeria in which advancement in education and health were the
major concerned of the government. Government expenditure on education and health was a concerned of the
citizen since they understand what developing human capital in country like Nigeria is all about. At this period
also, the GDP of Nigeria was also increasing instead of decreasing especially in 2013.
The main objective of this study is to investigate the impact of human capital development on economic growth
in Nigeria. The specify objective of this study are: to examine the impact of human capital development on the
Gross domestic product in Nigeria, to determine the impact of human capital development on unemployment
rate in Nigeria and to evaluate the impact of human capital development on the employment rate in Nigeria.
Government of Nigeria will find this study relevant and important because it will assist them in their
deliberations and discussion on the best way to handle or deal with human capital development in relation to
economic growth in Nigeria and in proffering possible policy recommendations that will help both the
government and administrators of policies. It will also help researchers to know more about Human capital
2. Impact Of Human Capital Development On Economic Growth In Nigeria
www.ijbmi.org 63 | Page
development programme as a tool for improving economic growth. Above all, it is hoped that this study would
contribute to knowledge and be useful as reference materials for scholars and will equally form the basis for
further research study.
The hypotheses are stated below: they are
H1: There is no significant relationship between human capital development and gross domestic product in
Nigeria
H2: There is no significant relationship between human capital development and unemployment in Nigeria
H3: There is no significant relationship between human capital development and employment in Nigeria
Concept of Human Capital Development
According to Oyinlola and Adeyemi (2014) human capital development refers to the acquired and useful
abilities of all the inhabitants or members of the society. Audu, Igwe and Onoh (2013) assert that human capital
development consists of conscious efforts to amplify human knowledge, improve skills, productivity and inspire
resourcefulness of individuals. Hines (2000) defines it as the combined knowledge, skills, innovativeness and
ability of the company’s individual employees to meet the task at hand. It obviously includes intangibilities such
as the company values, culture and philosophy. Paul, Wada, Audu and Omisore (2013) believes that human
capital development is the process that relates to training, education and other professional
initiatives/interventions in order to increase the levels of knowledge, skills, abilities, values, and social assets of
an employee which will lead to the employee’s satisfaction and better performance, and eventually improved
economic growth.
According to Erhurua (2007) human capital development is a presuppose investments, activities and processes
that produce vocational and technical education knowledge, skills, health or values that are embodied in
employees. Marimuthu (2009) human capital development is the process that relate to training, education and
other professional initiatives in order to increase the levels of knowledge, skills, abilities, values, and social
assets of an employee which will lead to the employees job satisfaction and performance. Human capital
development is a combination of the following four factors: genetic inheritance; education; experience; and
attitudes about life and business (Bontis, 2001).
Concept of economic growth
Economic growth is designed by both affluent and non-affluent economies. Economic growth is the desire for
higher levels or real per capital income, real output which must grow faster than the production of the economy
in question (Alex, 2015). –, also defined economic growth as the process whereby the real per capita income of
a Country increase over a long period of time. Economic growth is measured by the increase in the amount of
goods and services produced in a Country. Iyoha (1996), economic growth is used to described the process of
growth in advanced industrialize countries while economic development is used to describe the dynamics of
growth in low-income, non-industrialized countries.
Empirical Study
Oladeji (2015) investigate the relationship between human capital (through education and effective health care
services) and economic growth in Nigeria, using annual time series data from 1980 to 2012. The paper employs
OLS methodology. The result shows that considering the magnitude, 1% increase in GDP is brought about by
22% increase in human capital. This postulates that an increase in allocation to education and health will lead to
increase in GDP. The estimated value of R2 (goodness of fit) of 0.80 or 80% and it show that the independent
variables explain about 80% of the variation in the dependent variable. The findings have a strong implication
on educational and health policy in Nigeria.
Adelakun (2011) evaluates human capital development and economic growth in Nigeria by adopting conceptual
analytical framework that employs the theoretical and ordinary least square (OLS) to analyze the relationship
using the GDP as proxy for economic growth; total government expenditure on education and health, and the
enrolment pattern of tertiary, secondary and primary schools as proxy for human capital. The analysis confirms
that there is strong positive relationship between human capital development and economic growth.
Jaiyeoba (2015) empirical investigation on the relationship between investment in education, health and
economic growth in Nigeria, using time series data from 1982 to 2011. They employs trend analysis, the
Johansen cointegration and ordinary least square technique. Empirical findings however indicate that there is a
long -run relationship between government expenditure on education, health and economic growth. The
variables: health and education expenditure, secondary and tertiary enrolment rate and gross fixed capital
formation appear with the expected positive signs and are statistically significant (except government
expenditure on education and primary enrolment rate). The findings of this work have strong implications on
education and health policies and considering that they are of great debate in the country.
3. Impact Of Human Capital Development On Economic Growth In Nigeria
www.ijbmi.org 64 | Page
God’stime and Uchechi (2014) employ the augmented Solow to study human-capital-growth model using to
investigate the impact of human capital development on national output, a proxy for economic growth.
Quarterly time-series data from 1999-2012 were used and the result indicates that human capital development,
in line with theory, exhibits significant positive impact on output level. This implies that human capital
development is indispensable in the achievement of sustainable economic growth in Nigeria, as there is an
increase in economic performance for every increase in human capital development. The results further reveal a
relatively inelastic relationship between human capital development and output level.
Oboh, Rahmah and Abu (2010) investigate the impact of human capital development on economic growth in
Nigeria during the period 1970 to 2008. Johansen cointegration technique and vector error correction analysis
were used to ascertain this relationship. The basic macroeconomic variables of concern derived from the
literature review are: Real gross domestic product (RGDP), real capital expenditure (RCE) on education, real
recurrent expenditure (RRE) on education, real capital stock (RCS), total school (SCHE) enrolments and labour
force (LF) are used to proxy human capital development. The result indicated that human capital development
has insignificant impact on Nigeria's economic growth.
Resource Based theory
This theory recognizes human capital development as the most valuable, non-substitutable and imperfectly
imitable resource that can successfully utilize to achieve economic growth. Resource-based theory is linked to
human capital theory in these theory emphasize that investment in people adds to their value to the economic
(Baron & Armstrong, 2007).
Human Capital Theory
Schultz (1961) as put forth by Dae-bong (2009) recognizes that human capital is one of the most important
factors of national economic growth in the modern economy. The theory argues that an employees formal
education determines his or her earning power. Human capital theory holds that it is the key competences, skills,
knowledge and abilities of the workforce that contributes to economic growth. According to Human Capital
Theory, education is an investment because it is believed that it could potentially bestow private and social
benefits. Human capital theorists believe that education and earning power are correlated, which means,
theoretically, that the more education one has, the more one can earn, and that the skills, knowledge and abilities
that education provides can be transferred into the work in terms of productivity and profitability (Dae-bong,
2009).
The human-resource-based theory of the firm
Within the resource-based theory of the firm, human capital is one of the major resources. Charlotte and Jan
(1999) has formulated a conceptual model on how available human resources are utilized: which factors
influence this utilization, and what are the outcomes? His human- resource-based theory of the firm combines
the resource-based theory with a stakeholder view of the firm. On the one hand it recognizes the importance of
the various stake-holders and the relations between them. These stakeholders form the dominant coalition. The
values and attitudes of the members of this coalition are some of the factors that influence the management of
the human resources. On the other hand it acknowledges that the available resources and the mechanisms of
path dependence and routines limit the room to maneuver for this coalition (Charlotte & Jan, 1999).
Cognitive learning Theory
According to Tolman, individuals learn specific events that result in the satisfaction of particular goals. Thus, in
this system, all behavior is goal-oriented (Bell-Gredler, 1986). Learning involves one's expectations in a given
situation. If the expectancies are fulfilled, then they are confirmed and remain part of one's schematic
framework. Naturally, one's perceptions of a situation greatly influence one's expectations within that scenario.
In one of Tolman's intriguing experiments, three sets of rats ran a maze daily for several weeks. The first group
received food at the end of the maze while the second did not. The last group received no food for the first ten
days, but was then given the reward on the eleventh day.
Neoclassical theory
The neoclassical theory of growth developed by Solow and Swan (2000) centred macroeconomists’ attention on
tangible (physical) capital development as the driver of employees performance. However, the theory showed
that, because of decreasing marginal returns in substituting physical capital for labour, the accumulation of
capital would not indefinitely support a steady rate of growth in economic.
4. Impact Of Human Capital Development On Economic Growth In Nigeria
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The Modernization Theory
This theory focuses on how education transforms an individual’s value, belief and behaviour. Exposure to
modernization institutions such as schools, factories, and mass media inculcate modern values and attitudes. The
attitude include openness to new idea, independences from traditional authorities, willingness to plan and
calculate further exigencies and growing sense of personal and social efficacy (Odhong & Were, 2013). To
them, these normative and attitudinal changes continue throughout the life cycle, permanently altering the
individual’s relationship with the social structure. The greater the number of people exposed to modernization
institutions, the greater the level of individual modernity attained by the society. Once a critical segment of a
population change in this way, the pace of society’s modernization and economic growth quickens, Thus,
educational expansion through its effects on individual values and benefits sets in motion the necessary building
blocks for a more productive workforce and a more sustained economic growth (Odhong & Were, 2013).
Endogenous Growth Theory
According to Temple (2009) endogenous growth theory has stimulated economists’ interest in the empirical
evidence available from cross country comparisons, bearing on the main level relationship between human
capital development and economic growth. He describes physical capital accumulation as sufficient to
determine the dynamic evolution of output. To specify the growth path when human capital is included, it is
necessary to consider an additional sector where the growth of human capital has taken place. Given the
physical capital still has diminishing returns, the required assumption for the model to exhibit a positive growth
rate of output per worker in the steady state is that the technology for generating human capital has constant
returns; meaning that the growth of human capital is assumed to be the same for a given effort, whatever the
level of human capital attained. With the assumption, the rate of output growth (per worker) is positive and
increasing in the productivity of education or on-the-job training in the creation of human capital.
II. Methodology
The research used historical research design and ordinary Least square regression to analysed data and it was
gathered from the Central Bank of Nigeria statistical Bulletin and bureau of Statistic. The sample period is for
17-years from 1999 to 2015. The population of is 140 million people living Nigeria according to National
population, 2006. Gross domestic product (GDP), unemployment and employment rate were used as proxies for
economic growth while human capital development is the independent variable proxy as investment in
education and health. Using the e-view software and data obtained from secondary source were tabulated and
analyzed using multiple regression models. The multiple regression models are stated below:
GDP = ɑ+ ßIED + ß2HL+µ ----------------------------------1
UNE = ɑ+ ßIED + ß2HL+µ ----------------------------------2
EM = ɑ+ ßIED + ß2HL+µ ----------------------------------3
Where:
GDP = Gross Domestic Product
ɑ = Intercept or constant
ßI = Independent variable or coefficient
UNE =Unemployment rate
EM =Employment rate
ED = Education
HL =Health
µ =Error term
III. Data Analysis
Hypothesis 1: Human capital development and Gross Domestic Product
GDP = ɑ+ ßIED + ß2HL
Dependent Variable: GDP
Method: Least Squares
Date: 03/08/16 Time: 13:37
Sample: 1999 2015
Included observations: 17
Variable Coefficient Std. Error t-Statistic Prob.
C 8.684075 3.200135 2.713659 0.0168
ED -0.017683 0.041614 -0.424924 0.6774
HL 0.025285 0.073316 0.344883 0.7353
R-squared 0.014178 Mean dependent var 7.779271
Adjusted R-squared -0.126654 S.D. dependent var 7.082610
S.E. of regression 7.517763 Akaike info criterion 7.031199
Sum squared resid 791.2347 Schwarz criterion 7.178237
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Log likelihood -56.76520 Hannan-Quinn criter. 7.045815
F-statistic 0.100672 Durbin-Watson stat 1.992323
Prob(F-statistic) 0.904878
Source: Data output from e-view statistical package, 2016
1% level of significance, 5% level of significance and 10% level of significance
GDP = ɑ+ ßIED + ß2HL
GDP = 8.68-0.01VS+0.02HL
SE = 3.20 0.04 0.07
t* = 2.71 (0.42) 0.34
p* = 0.01 0.67 0.73
R2
= 0.01
Adj. R2
= (0.12)
F-statistic 0.10 (prob) 0.90
DW = 1.99
From the regression result, human capital development coefficient for education (Ed) is negative and
insignificant in achieving economic growth in Nigeria in terms of gross domestic product (GDP). The p-value of
0.67 is greater than the t-statistic value of (0.42) and the standard error value of 0.04 is greater than the t-statistic
value. This implies that there is insignificant relationship between human capital development in terms of
education and gross domestic product in Nigeria.
However, human capital development coefficient for health (HL) is positive and significant in achieving
economic growth in Nigeria in terms of gross domestic product (GDP). The p-value of 0.73 is greater than the t-
statistic value of 0.34 and the standard error value of 0.07 is less than the t-statistic value. This implies that there
is insignificant relationship between human capital development in terms of health and gross domestic product
in Nigeria.
The coefficient of determination (r2
) of 0.01 indicates that 1% of variation in economic growth in terms of gross
domestic product (GDP) can be explained by human capital development (education and health) in Nigeria. The
remaining 99% can be explained by other related factors not noted in the regression model. The f-statistic value
of 0.10 is insignificant at p-value of 0.90. Therefore, we accept the null hypothesis that there is insignificant
relationship between human capital development and gross domestic product in Nigeria.
Hypothesis 2: Human capital development and Unemployment rate
Dependent Variable: UNR
Method: Least Squares
Date: 03/08/16 Time: 13:47
Sample (adjusted): 1999 2014
Included observations: 16 after adjustments
Variable Coefficient Std. Error t-Statistic Prob.
C 11.47766 2.752141 4.170448 0.0011
ED 0.042010 0.035262 1.191355 0.2548
HL -0.007784 0.062122 -0.125294 0.9022
R-squared 0.367991 Mean dependent var 17.62500
Adjusted R-squared 0.270759 S.D. dependent var 7.434021
S.E. of regression 6.348326 Akaike info criterion 6.701620
Sum squared resid 523.9161 Schwarz criterion 6.846480
Log likelihood -50.61296 Hannan-Quinn criter. 6.709038
F-statistic 3.784671 Durbin-Watson stat 1.316867
Prob(F-statistic) 0.050664
Source: Data output from e-view statistical package, 2016
1% level of significance, 5% level of significance and 10% level of significance
UNR = ɑ+ ßIED + ß2HL
UNR = 11.47+0.04ED-0.00HL
SE = 2.75 0.03 0.06
t* = 4.17 1.19 (0.12)
p* = 0.00 0.25 0.90
R2
= 0.36
Adj. R2
= 0.27
F-statistic 3.78 (prob) 0.05
DW = 1.31
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From the regression result, human capital development coefficient for education (Ed) is positive and significant
in achieving economic growth in Nigeria in terms of unemployment rate (UNR). The p-value of 0.25 is less than
the t-statistic value of 1.19 and the standard error value of 0.03 is less than the t-statistic value. This implies that
there is insignificant relationship between human capital development in terms of education and unemployment
rate in Nigeria.
However, human capital development coefficient for health (HL) is negative and insignificant in achieving
economic growth in Nigeria in terms of unemployment rate (UNR). The p-value of 0.90 is greater than the t-
statistic value of (0.12) and the standard error value of 0.06 is less than the t-statistic value. This implies that
there is insignificant relationship between human capital development in terms of health and unemployment rate
in Nigeria.
The coefficient of determination (r2
) of 0.36 indicates that 36% of variation in economic growth in terms of
unemployment rate (UNR) can be explained by human capital development (education and health) in Nigeria.
The remaining 64% can be explained by other related factors not noted in the regression model. The f-statistic
value of 3.78 is insignificant at p-value of 0.05. Therefore, we accept the alternative hypothesis that there is a
significant relationship between human capital development and unemployment rate in Nigeria.
Hypothesis 3: Human capital development and Employment rate
Dependent Variable: EM
Method: Least Squares
Date: 03/08/16 Time: 13:50
Sample: 1999 2015
Included observations: 17
Variable Coefficient Std. Error t-Statistic Prob.
C 7.213935 8.251126 0.874297 0.3967
ED 0.018594 0.107296 0.173298 0.8649
HL 0.066220 0.189035 0.350303 0.7313
R-squared 0.128591 Mean dependent var 16.09000
Adjusted R-squared 0.004104 S.D. dependent var 19.42346
S.E. of regression 19.38356 Akaike info criterion 8.925513
Sum squared resid 5260.114 Schwarz criterion 9.072550
Log likelihood -72.86686 Hannan-Quinn criter. 8.940129
F-statistic 1.032965 Durbin-Watson stat 1.327505
Prob(F-statistic) 0.381553
Source: Data output from e-view statistical package, 2016
1% level of significance, 5% level of significance and 10% level of significance
EM = ɑ+ ßIED + ß2HL
EM = 7.21+0.01ED+0.06HL
SE = 8.25 0.10 0.18
t* = 0.87 0.17 0.35
p* = 0.39 0.86 0.73
R2
= 0.12
Adj. R2
= 0.00
F-statistic 1.03 (prob) 0.38
DW = 1.32
From the regression result, human capital development coefficient for education (Ed) is positive and significant
in achieving economic growth in Nigeria in terms of employment rate (EM). The p-value of 0.86 is greater than
the t-statistic value of 0.17 and the standard error value of 0.10 is greater than the t-statistic value. This implies
that there is insignificant relationship between human capital development in terms of education and
employment rate in Nigeria.
However, human capital development coefficient for health (HL) is positive and significant in achieving
economic growth in Nigeria in terms of employment rate (EM). The p-value of 0.73 is greater than the t-statistic
value of 0.35 and the standard error value of 0.18 is less than the t-statistic value. This implies that there is
insignificant relationship between human capital development in terms of health and employment rate in
Nigeria.
The coefficient of determination (r2
) of 0.12 indicates that 12% of variation in economic growth in terms of
employment rate (UNR) can be explained by human capital development (education and health) in Nigeria. The
remaining 88% can be explained by other related factors not noted in the regression model. The f-statistic value
of 1.03 is insignificant at p-value of 0.38. Therefore, we accept the null hypothesis that there is insignificant
relationship between human capital development and employment rate in Nigeria.
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IV. Discussion of Findings
From the above analysis, the impact of human capital development on economic growth in Nigeria is
insignificant. This shows that human capital development (education and health) is insignificant in achieving
economic growth in terms of gross domestic product and employment rate in Nigeria. This implies that human
capital development does not contribute to GDP and increasing employment rate in Nigeria. The study also
found that human capital development contributes to unemployment rate in Nigeria. That is, the investment in
human capital in terms of education provides the basic skills need in this modern era of technology and reduced
unemployment rate in Nigeria. The finding is in line with the finding of Oboh, Rahmah and Abu (2010) who
found that there is insignificant relationship between human capital development and economic growth. The
study is also consistent with endogenous growth theory which describes physical capital accumulation as
sufficient to determine the dynamic evolution of economic growth.
V. Conclusions And Recommendations
This study concludes that impact of human capital development on economic growth in Nigeria is statistically
insignificant. This implies that human capital development in terms of education and health does not contribute
to economic growth in terms of GDP, unemployment rate and employment rate in Nigeria. It is therefore
recommended that Nigeria government should re-strategies its human capital development policies and develop
a programme to solve human capital development need in terms of education and health because at present,
based on the statistic available there is insignificant relationship between human capital development and
economic growth. The Nigerian Government should try to monitor how the money meant for human capital
development expensed or whether this money is actually used.
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