Human Capital, Technology, and Economic Growth

This article investigated the impact of human capital andtechnology on economic growth in Nigeria. We employed annual time series data for theperiod of 35 years (1975-2010) and applied autoregressive distributed lag approach tocointegration to examine the relationship between human capital, technology, andeconomic growth. Two proxies of human capital (secondary and tertiary schoolenrollments) were used in two separate models. The cointegration result revealed thatall the variables in the two separate models were cointegrated. Furthermore, the resultsof the two estimated models showed that human capital in form in secondary and tertiaryschool enrollments have had significant positive impact on economic growth. More so,technology also shows significant positive impact on economic growth. In a nutshell,both human capital and technology are important determinants of growth in Nigeria.Therefore, improvement of the educational sector and more funding for research anddevelopment (R&D) to encourage innovations are needed to facilitate Nigeria’ssustained economic growth