The Role of Human Capital in Industrial Development: The Nigerian Case (1980-2010) - Modern Economy

ME > Vol.4 No.10, October 2013

Modern Economy

Volume 4, Issue 10 (October 2013)

ISSN Print: 2152-7245 ISSN Online: 2152-7261

Google-based Impact Factor: 0.74 Citations h5-index & Ranking

The Role of Human Capital in Industrial Development: The Nigerian Case (1980-2010) ()

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DOI: 10.4236/me.2013.410069 10,052 Downloads 17,991 Views Citations

Author(s)

Akintoye Victor Adejumo, Phillip Akanni Olomola, Opeyemi Oluwabunmi Adejumo

Affiliation(s)

.
Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria.

ABSTRACT

Human capital development is seen as a focal point for pivoting industrial development, for reducing the level of unemployment and increasing the supply of entrepreneurs in any economy. However, the effect of human capital on sustainable industrial development in Nigeriahas not been adequately explored. In view of various policies adopted by successive governments to advance industrialization inNigeria, the study examined the effect human capital development has had on industrial growth in the light of various factors that could have shaped industrial performance. In addition, the different educational enrollment rates were examined to find out if any significant positive impact will be felt in the industrial sector. Time series data covering the period between 1980 and 2010 were used with an appropriate econometric technique. It was discovered that human capital has to a large extent impacted on industry value-added, but in terms of output generated industrially, the effect of human capital remains low inNigeria.

KEYWORDS

Education; Industrial; Capital; Labour

Share and Cite:

A. Adejumo, P. Olomola and O. Adejumo, "The Role of Human Capital in Industrial Development: The Nigerian Case (1980-2010)," Modern Economy, Vol. 4 No. 10, 2013, pp. 639-651. doi: 10.4236/me.2013.410069.

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