IMPACT OF EARLY AGE (3-14 YEARS) HUMAN CAPITAL DEVELOPMENT ON ECONOMIC GROWTH: EVIDENCE FROM NIGERIA
Zakka Kuzangka ,C.I Egwaikhide, PhD and Mustapha Mukhtar, PhD
Volume 11 Issue 1
Abstract
This study examined the impact of early age (3-14 years) human capital development on economic growth: evidence from Nigeria. The augmented ARDL model and bounds test for cointegration was employed to achieve the objectives of the study. The study utilized secondary data on GDP, government expenditure on basic education, pupil’s enrollment rate in basic education, child mortality rate and labour force participation rate for a period of 100 quarters covering 1997Q1 to 2021Q4. The bounds test for cointegration shows a long run relationship between early age human capital development and economic growth. The study further reveals that government expenditure on basic education has a negative and significant impact on economic growth. pupil’s enrollment rate in basic education, child mortality rate and labour force participation rate on the other hand have positive impact on economic growth, with child mortality rate being insignificant. Empirical results show that early age human capital development significantly enhances economic growth. As such, the study recommends that the Nigerian government should endeavour to check corruption and misappropriation of funds to reduce wastages in the basic education sector, improve on the quality and motivation of teachers and incorporate entrepreneurial and vocational education in basic education curriculum so as to improve the standard of education and enable children acquire skills necessary for active participation in the labour force and to contribute to Nigeria’s economic growth. Keywords: GDP, Basic Education, Child Mortality Rate, Labour Force Participation Rate.
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