HUMAN CAPITAL AND TECHNOLOGICAL DEVELOPMENT IN NIGERIA,
HUMAN CAPITAL AND TECHNOLOGICAL DEVELOPMENT IN NIGERIA,
No Thumbnail Available
Date
1999-07
Authors
DELE, OLANREWAJU JULIUS
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
ABSTRACT
Investment on education and health/nutrition create the human capital
necessary for raising the productivity of labour and other factors and the
economic well-being of workers and their families. Therefore, it is assumed that
investment in human capital is necessary for economic growth and household
welfare. However, Economists agree that for an economy to grow, human
capital is necessary but not sufficient, hence, technology has been attracting
critical attention. These two variables are closely linked as a well educated
society is better able to innovate, invent, and adopt new technologies.
Apart from human capital and technology, other related factors playing
key roles in the economy include; capital stocks of machines and materials,
research and development, labour productivity, degree of economy's openness,
and government policies. These factors are studies as role players and their
impacts examined on the growth of the Nigerian economy within a theoretically
framework called, the National System of Innovation - (N.S.I.). It is in the light
of the above that this thesis was designed to study and estimate the
relationship between the real per capital G.D.P. and above factors and draw
implication(s) for economic growth as a broad objective.
The endogenous growth approach OLS. regression model analysis
revealed that, in Nigeria, physical capital (both domestic and foreign stocks) is a
major determinant of economy's growth; human capital is poorly formed and
v i
developed, vital ingredient (R & D) for building and cumulating technology is
weakly based abroad, thus, yielding low growth contribution; labour productivity
was negative, probably, a result of human capital mal-formation; and, the
direction of the economy's openness was of insignificant benefit.
The major problems identified in the study include wrong placement of
Nigeria's seemingly adequate expenditures on human capital formation and
generating more local research and development activities to produce local
capital goods, produce more of other goods, particularly for global markets, and
thus build a pool of innovative entrepreneurs. On the basis of findings and
implications advanced, recommendations are made as solutions to identified
problems.
Description
DEPARTMENT OF ECONOMICS,
AHMADU BELLO UNIVERSITY, ZARIA.
Keywords
HUMAN,, CAPITAL,, TECHNOLOGICAL,, DEVELOPMENT,, NIGERIA.