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Assessing the Effect of Human Capital Financing on Nigeria’s Economic Growth: A Time Series Approach

The paper focuses on the effects of human capital funding on economic growth in Nigeria and the time frame of 2000-2024. In particular, it examines the contribution of education, health, defence expenditure, fixed capital formation and labor to gross domestic product (GDP). The Augmented Dickey-Fuller (ADF) unit root test, Johansen cointegration method and the Vector Error Correction Model (VECM) were used to analyze time series data to determine both the long-run and short-run dynamics. According to the unit root outcomes, all the variables are all I(1), indicating an absence of order two, I(…

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