IDEAS home Printed from https://ideas.repec.org/a/wam/journl/v16y2016i2p72-94.html
   My bibliography  Save this article

What Drives Human Development In Nigeria: Do Output Size, Financial Developmentand Resource Dependence Matter?

Author

Listed:
  • Ogbeide, Frank Iyekoretin, Ph.D

    (Department of Economics and Statistics, University of Benin and a research scholar under the African Economic Research Consortium (AERC).)

  • Kanwanye, Hilary Temofeh

    (Doctoral student in the Department of Economics and Statistics, University of Benin, Benin City)

Abstract

The study examines the drivers of human development in Nigeria using time-series data from 1981 to 2014 in an error correction modeling framework. Our empirical result shows that output size and private credit have positive and significant effect on human development in Nigeria, whereas natural resource dependence exerts a negative effect on human development, though not significantly. In addition, the Granger causality test revealed that causality runs from real income per capita to human development, human development appears to be natural resource dependence, and surprisingly, there was no clear flow of causation existing between private credit and human development in Nigeria. Other results show that monetary policy (interest) rate and government education financing spur human development, while exchange depreciation has detrimental effects. In all, this study unveils the importance of economic factors in stimulating human development in Nigeria, and thus intensifies the need to broaden output size, financial development and efficient use of natural resources to engender a nondeclining trend in human development trajectory in Nigeria.

Suggested Citation

  • Ogbeide, Frank Iyekoretin, Ph.D & Kanwanye, Hilary Temofeh, 2016. "What Drives Human Development In Nigeria: Do Output Size, Financial Developmentand Resource Dependence Matter?," West African Journal of Monetary and Economic Integration, West African Monetary Institute, vol. 16(2), pages 72-94, December.
    • Handle: RePEc:wam:journl:v:16:y:2016:i:2:p:72-94
    as

    Download full text from publisher

    File URL: http://www.wami-imao.org/RePEc/articles/WHAT_DRIVES_HUMAN_DEVELOPMENT_IN_NIGERIA.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Human development; Resource dependency; Resource curse; financial development and Output size.;
    All these keywords.

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wam:journl:v:16:y:2016:i:2:p:72-94. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MOHAMED FOFANA (email available below). General contact details of provider: https://edirc.repec.org/data/wamingh.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.