International records / OpenAlex research

Foreign aid, human capital and economic growth nexus: Evidence from Nigeria

This study investigates the link between aid and human capital in promoting economic growth of Nigeria.The study used two models; the first model was used to test the validity of the medicine model in Nigeria; while the extended model was used to investigate the effect of aid and human capital shocks on growth using Engle-Granger and Vector Error Correction Model (VECM) estimation techniques respectively.The findings from the first model suggest that persistent increase in foreign aid flows beyond a particular point (the optimal point) may adversely affect growth thus confirming the propositio…