Title:
THE IMPACTS OF CAPITAL GOOD IMPORT AND HUMAN CAPITAL ON ECONOMIC GROWTHS OF NIGERIA AND SOUTH AFRICA: AN AUTOREGRESSIVE DISTRIBUTED LAG (ARDL) MODEL APPROACH.

Authors:
Festus Olumide, FAWEHINMI; Victoria. Monisola, OSHO; Sunday, A. KEJI

Volume - 2 Issue - 8, Pages - 4251-4263

Abstract:
The impacts of capital good import and human capital on economic growth of Nigeria and South Africa are being examined through cointegration and Autoregressive Distributed Lag (ARDL). Our findings were better revealed on comparative terms, the relationships between capital goods import, human capital and economic growth. The results reveal that capital good import and human capital indicators determine economic growth of South Africa both in the short run and long run, while Nigeria's economic growth rate only responds to capital goods import indicators in the long run. The estimated results further reveals that labour pattern in terms of work rate e.g. labour force and education e.g. secondary school enrolment are differ between the two economies. The glaring fact is that huge population of Nigeria's labour force has not been contributing significantly to her economic growth due to large number of unskilled labour compared to South Africa with high level of skilled labour despite having relatively few labour force.

Cite this Article:

[FAWEHINMI, Festus Olumide, et al. "THE IMPACTS OF CAPITAL GOOD IMPORT AND HUMAN CAPITAL ON ECONOMIC GROWTHS OF NIGERIA AND SOUTH AFRICA: AN AUTOREGRESSIVE DISTRIBUTED LAG (ARDL) MODEL APPROACH." International Journal of Social Science and Economic Research, vol. 2, no. 8, 2017, pp. 4251-4263.]