The Role of Institutional Quality in the Human Capital-Economic Growth Nexus in Nigeria: Evidence from Aggregate and Gender Perspective
1
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
This study examines the effect of human capital on economic growth and the role of institutional quality in the human capital-economic growth nexus. We investigate both, using disaggregated data on human capital–school enrolment at the primary, secondary and tertiary levels – and assess gender-specific impacts. The study employs data from Nigeria for the period 1984–2016. The results obtained from estimating an Autoregressive Distributed Lag (ARDL) model show that primary and secondary school enrolments do not have significant effects on economic growth in Nigeria, but tertiary school enrolment has a positive and significant effect on economic growth in the short-run. In addition, empirical findings from the gender-differentiated impact of human capital on economic growth suggest that both female and male primary school enrolments are not significant in explaining economic growth in Nigeria; female and male secondary and tertiary school enrolments have positive effects on economic growth in Nigeria but only female school enrolment at both levels is statistically significant. This underscores the importance of female education in Nigeria. Concerning the moderating role of institutional quality, institutions appear not to enhance the human capital-growth nexus both at the aggregate and gender-differentiated levels.
Abstract
This study examines the effect of human capital on economic growth and the role of institutional quality in the human capital-economic growth nexus. We investigate both, using disaggregated data on human capital–school enrolment at the primary, secondary and tertiary levels – and assess gender-specific impacts. The study employs data from Nigeria for the period 1984–2016. The results obtained from estimating an Autoregressive Distributed Lag (ARDL) model show that primary and secondary school enrolments do not have significant effects on economic growth in Nigeria, but tertiary school enrolment has a positive and significant effect on economic growth in the short-run. In addition, empirical findings from the gender-differentiated impact of human capital on economic growth suggest that both female and male primary school enrolments are not significant in explaining economic growth in Nigeria; female and male secondary and tertiary school enrolments have positive effects on economic growth in Nigeria but only female school enrolment at both levels is statistically significant. This underscores the importance of female education in Nigeria. Concerning the moderating role of institutional quality, institutions appear not to enhance the human capital-growth nexus both at the aggregate and gender-differentiated levels.
참고문헌 (94)
- Abbas, Q., "The Role of Human Capital in Economic Growth: A Comparative Study of Pakistan and India", Pakistan Development Review, pp.451~473 (2000)
- Abbas, Q., "Endogenous Growth and Human Capital:A Comparative Study of Pakistan and Sri Lanka", Pakistan Development Review, pp.987~1007 (2001)
- Abdullah, A. J., "Education and Economic Growth in Malaysia : The Issue of Education Data", Procedia Economics and Finance, 7, pp.65~72 (2013)
- Abdullah, A. J., "Education and Income Inequality: A Meta-Regression Analysis", Unpublished manuscript, Deakin University, ~ (2011)
- Acemoglu, D., "Institutions, Human Capital, and Development", Annual Review of Economics, 6(1), pp.875~912 (2014)
- Adeyemi, P.A., "The Impact of Human Capital Development on Economic Growth in Nigeria : ARDL Approach", IOSR Journal of Humanities and Social Science, 21(3), pp.1~7 (2016)
- Afzal, M., "Relationship between School Education and Economic Growth in Pakistan: ARDL Bounds Testing Approach to Cointegration", Pakistan Economic and Social Review, pp.39~60 (2010)
- Akanbi, M.M., "Rule of Law in Nigeria", Journal of Law, Policy and Globalization, 3(1), pp.1~8 (2012)
- Alataş, S., "The Effect of Human Capital on Economic Growth : A Panel Data Analysis", Journal of Administrative Sciences, 14(27), pp.539~555 (2016)
- Education and Economic Growth, "Barro J. B.", China Economic and Management Academy, Central University of Finance and Economics, ~, pp.CEMA Working Papers 571 (2013)
- Barro, R. J., "Human Capital and Growth", American Economic Review, 91(2), pp.12~17 (2001)
- Barro, R. J., "Sources of Economic Growth", Carnegie-Rochester Conference Series on Public Policy, 40, pp.1~46 (1994)
- Becker, G., "Human Capital: Theoretical and Empirical Analysis" (1964), University of Chicago Press
- Becker, G. S., "Investment in Human Capital: A Theoretical Analysis", Journal of Political Economy, 70(5, Part 2), pp.9~49 (1962)
- Becker, G. S., "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education" (2009), University of Chicago Press
- Benhabib, J., "The Role of Human Capital in Economic Development Evidence from Aggregate Cross Country Data", Journal of Monetary Economics, 34(2), pp.143~173 (1994)
- Benos, N., "Do Education Quality and Spillovers Matter? Evidence on Human Capital and Productivity in Greece", Economic Modelling, 54, pp.563~573 (2016)
- Bhattacharyya, S., "Unbundled Institutions, Human Capital and Growth", Journal of Comparative Economics, 37(1), pp.106~120 (2009)
- Breton, T. R., "The Role of Education in Economic Growth : Theory, History and Current Returns", Educational Research, 55(2), pp.121~138 (2013)
- Canare, T., "The Effect of Ease of Doing Business on Firm Creation", Annals of Economics & Finance, 19(2), pp.555~584 (2018)
- Chen, J., "Regional Income Inequality and Economic Growth in China", Journal of Comparative Economics, 22(2), pp.141~164 (1996)
- Cheng, B. S., "Human Capital and Economic Growth in Japan: An Application of Time Series Analysis", Applied Economics Letters, 4(6), pp.393~395 (1997)
- De Muro, P., "The Role of Institutions for Human Development", HDCA Conference (2008)
- Does Education Matter for Economic Growth?, "Delgado, M. S.", ~, pp.IZA Discussion Paper No. 7089 (2012)
- Sources of Economic Growth in United States and the Alternatives before US, "Denison, E. F.", Committee of Economic Development, ~ (1962)
- Dias, J., "Institutions, Human Capital, and Growth: The Institutional Mechanism", Structural Change and Economic Dynamics, 23(3), pp.300~312 (2012)
- Dias, J., "Institutions, Human Capital, and Growth: The Long-Run Institutional Mechanism", Brasilia: Anais do I Circuito de Debates Acadêmicos Área Temática:Desenvolvimento Econômico, pp.1~21 (2011)
- Eigbiremolen, G. O., "Human Capital Development and Economic Growth: The Nigeria Experience", International Journal of Academic Research in Business and Social Sciences, 4(4), pp.25~35 (2014)
- Impact of Women’s Education on the Economic Growth: An Empirical Analysis Applied to Morocco, Algeria, Tunisia, and Egypt, "El Alaoui, A.", MPRA, ~, pp.MPRA Paper No. 69787 (2016)
- Gyimah-Brempong, K., "Education and Economic Development in Africa", Paper Prepared for the 4th African Economic Conference (2010)
- Haldar, S. K., "Does Human Capital Cause Economic Growth? A Case Study of India", International Journal of Economic Sciences and Applied Research, 3(1), pp.7~25 (2010)
- Hall, J. C., "Institutions, Capital, and Growth", Southern Economic Journal, 77(2), pp.385~405 (2010)
- Hanif, N., "Relationship between School Education and Economic Growth : SAARC Countries", International Journal of Economics and Financial Issues, 6(1), pp.294~300 (2016)
- Hanson, M., "Economic Development, Education and Transnational Corporations" (2008), Routledge
- Hanushek, E. A., "Will More Higher Education Improve Economic Growth?", Oxford Review of Economic Policy, 32(4), pp.538~552 (2016)
- The Role of Education Quality for Economic Growth, "Hanushek, E.A.", World Bank, ~, pp.World Bank Policy Research Working Paper No. 4122 (2007)
- Hanushek, E.A., "The Role of Cognitive Skills in Economic Development", Journal of Economic Literature, 46(3), pp.607~668 (2008)
- Hanushek, E.A., "Do Better Schools Lead to More Growth? Cognitive Skills, Economic Outcomes, and Causation", Journal of Economic Growth, 17(4), pp.267~321 (2012)
- Hassan, G., "Effects of Male and Female Education on Economic Growth : Some Evidence from Asia", Journal of Asian Economics, 36, pp.97~109 (2015)
- Islam, N., "Growth Empirics: A Panel Data Approach", Quarterly Journal of Economics, 110(4), pp.1127~1170 (1995)
- Kanayo O., "The Impact of Human Capital Formation on Economic Growth in Nigeria", Journal of Economics, 4(2), pp.121~132 (2013)
- Karama, D., "Ease of Doing Business: Emphasis on Corruption and Rule of Law", pp.2014
- Kaur, N.G., "Female Education and Economic Growth: Theoretical Overview and Two Country Cases", Unpolished Thesi submitted to University of Gothenburg, ~ (2012)
- Kobzev Kotásková, S., "Acta Universitatis Agriculturaeet Silviculturae Mendelianae Brunensis", Acta Universitatis Agriculturaeet Silviculturae Mendelianae Brunensis, 66(1), pp.253~262 (2018), Mendel University Press
- Kocourek, A., "Three Levels of Education and the Economic Growth", Applied Economics, 50(19), pp.2103~2116 (2018)
- Kripfganz, S., "ARDL: Estimating Autoregressive Distributed Lag and Equilibrium Correction Models", Proceedings of the 2018London Stata Conference (2018)
- Education and Productivity in Developing Countries: An Aggregate Production Function Approach, "Lau, L. J.", World Bank, ~, pp.Policy Research Working Paper Series 612 (1991)
- Lawal, N.A., "Education and Economic Growth : The Nigerian Experience", Journal of Emerging Trends in Economics and Management Sciences, 2(3), pp.225~231 (2011)
- Lee, C. G., "Education and Economic Growth : Further Empirical Evidence", European Journal of Economics, Finance and Administrative Sciences, 23(8), pp.161~169 (2010)
- Lee, E. K., "Higher Education Expansion and Economic Growth in Japan and South Korea", Doctor, pp.2012
- Loening, J. L., "Time Series Evidence on Education and Growth : The Case of Guatemala, 1951-2002", Revista de análisiseconómico, 19(2), pp.3~40 (2004)
- Lorgelly, P. K., "The Effect of Female and Male Schooling on Economic Growth in the Barro-Lee Model", Empirical Economics, 24(3), pp.537~557 (1999)
- Lucas, R., "On the Mechanics of Economic Development", Journal of Monetary Economics, 22(1), pp.3~42 (1988)
- "2006", 2
- Mankiw, N. G., "A Contribution to the Empirics of Economic Growth", Quarterly Journal of Economics, 107(2), pp.407~437 (1992)
- Higher Education and Economic Growth, "Mattoon, R. H.", Federal Reserve Bank of Chicago, ~, pp.Chicago Fed Letter, Number 222a (2006)
- Mendy, D., "Do Education Levels Matter on Indonesian Economic Growth", Economics & Sociology, 11(3), pp.133~146 (2018)
- Nistor S., "Is Education Important in Assessing the Impact of Institutions on Economic Growth in Emerging Economies?", Applied Economics, 50(34-35), pp.3840~3854 (2018)
- North, D. C., "Institutions", Journal of Economic Perspectives, 5(1), pp.97~112 (1991)
- North, D.C., "The Rise of the Western World: A New Economic History" (1973), Cambridge University Press
- Ogunleye, O. O., "Human Capital Development and Economic Growth in NIGERIA", IJRDO-Journal of Business Management, 3(8), pp.17~36 (2017)
- Oluba N. M., "The Rule of Law and Economic Development of Nigeria", Economic Reflections B, 22, pp.1~10 (2008)
- Omojimite, B. U., "Education and Economic Growth in Nigeria: A Granger Causality Analysis", African Research Review, 4(3), pp.90~108 (2010)
- Oztunca, H., "Effects of Female Education on Economic Growth: A Cross Country Empirical Study", Educational Sciences : Theory and Practice, 15(2), pp.349~357 (2015)
- Pana, M. C., "From Quantity to Quality in Addressing the Relationship between Education and Economic Development", Procedia-Social and Behavioral Sciences, 93, pp.911~915 (2013)
- Pegkas, P., "The Link between Educational Levels and Economic Growth: A Neoclassical Approach for the Case of Greece", International Journal of Applied Economics, 11(2), pp.38~54 (2014)
- Pelinescua, E., "The Impact of Human Capital on Economic Growth", Procedia Economics and Finance, 22, pp.184~190 (2015)
- Peres, M., "The Impact of Institutional Quality on Foreign Direct Investment Inflows : Evidence for Developed and Developing Countries", Economic Research Ekonomskaistraživanja, 31(1), pp.626~644 (2018)
- Pesaran, M. H., "Bounds Testing Approaches to the Analysis of Level Relationships", Journal of Applied Econometrics, 16(3), pp.289~326 (2001)
- Phillips, K. L., "Regional Growth in China : An Empirical Investigation Using Multiple Imputations and Province-Level Panel Data", Research in Economics, 65(3), pp.243~253 (2011)
- Economic Growth in Africa: Does Gender Education Still Matter?, "Raifu, I.", University Library of Munich, ~, pp.MPRA Paper No.92916 (2019)
- Raifu, I. A., "Differences in Colonial Experience and the Institution Economic Growth Nexus in West Africa", Institutions and Economies, 13(2), pp.27~58 (2021)
- Romer, P., "Increasing Returns and Long-Run Growth", Journal of Political Economy, 94, pp.1002~1037 (1986)
- Romer, P. M., "Endogenous Technological Change", Journal of Political Economy, 98(5, Part 2), pp.S71~S102 (1990)
- Romer, P. M., "Human Capital and Growth: Theory and Evidence", Carnegie Rochester Conference Series on Public Policy,, 32, pp.251~286 (1990)
- Sabir, S., "Institutions and FDI : Evidence from Developed and Developing Countries", Financial Innovation, 5(1), pp.1~20 (2019)
- Schultz, T. W., "Investment in Human Capital", American Economic Review, 51, pp.1~17 (1961)
- Siddiqui, A., "Macroeconomic Returns to Education in South Asia", Journal of Economic Cooperation, 27(4), pp.25~44 (2006)
- Siddiqui, A., "The Human Capital and Economic Growth Nexus in East and South Asia", Applied Economics, 49(28), pp.2697~2710 (2016)
- Solow, R. M., "A Contribution to the Theory of Economic Growth", Quarterly Journal of Economics, 70(1), pp.65~94 (1956)
- Gender Effects of Education on Economic Development in Turkey, "Tansel, N.", ~, pp.IZA DP No. 6532 (2012)
- "Corruption Perception Index 2019" (2019)[URL]
- "Corruption Perception Index 2020" (2020)[URL]
- Uddin, M. A., "Institutions, Human Capital and Economic Growth in Developing Countries", Studies in Economics and Finance, 38(2), pp.361~383 (2020)
- "Impact of Human Capital on Economic Growth: A Panel Data Analysis" (2015)[URL]
- UNESCO, "The Dakar Framework: Education for All, Meeting Our Collective Commitments", World Education Forum (2000)
- "Education for All 2000-2015: Achievements and Challenges, Global Monitoring" (2015)[URL]
- Van Reenen, J., "Education and Economic Growth : A Review of Literature", Journal of Economic Surveys, 17(2), pp.157~200 (2003)
- Wei, C. H. I., "The Role of Human Capital in China’s Economic Development : Review and New Evidence", China Economic Review, 19(3), pp.421~436 (2008)
- Wei, Y., "Endogenous Innovation Growth Theory and Regional Income Convergence in China", Journal of International Development : Journal of the Development Studies Association, 13(2), pp.153~168 (2001)
- Yaroson, E. V., "Human Capital Development in Nigeria : An Empirical Assessment on the Impact of Corruption", African Journal of Economic and Sustainable Development, 6(1), pp.86~103 (2017)
- Zaman, K., "Do Female Enrolment Rates Cause Economic Growth in Pakistan?", Asian Social Science, 6(11), pp.256~268 (2010)
- Zhu, S., "Economic Complexity, Human Capital and Economic Growth: Empirical Research Based on Cross-Country Panel Data", Applied Economics, 49(38), pp.3815~3828 (2017)
