Long Run Relationship between Education and Economic Growth in Nigeria: Evidence from the Johansen’s Cointegration Approach
نویسنده
چکیده
s This paper investigates the long run relationship between education and economic growth in Nigeria between 1970 and 2003 through the application of Johansen Cointegration technique and Vector Error Correction Methodology. It examines two different channels through which human capital can affect long run economic growth in Nigeria. The first channel is when human capital is a direct input in the production function and the second channel is when the human capital affects the technology parameter. The Johansen Cointegration result establishes a long run relationship between education and economic growth. A well educated labour force appears to significantly influence economic growth both as a factor in the production function and through total factor productivity.
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