IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v8y2024i11p3310-3321.html
   My bibliography  Save this article

The Effect of Human Capital Investment on Sustainable Development: A Case of Selected West African Countries

Author

Listed:
  • Kayode David Toluhi

    (Department of Economics, Veritas University Abuja, Nigeria)

  • Prof. Sumaila A. Joseph Obansa

    (Department of Economics, Veritas University Abuja, Nigeria)

  • Modestus Chidi Nsonwu

    (Department of Economics, Veritas University Abuja, Nigeria)

Abstract

The clamour for sustainable development in countries around the world has elicited intense researches on its important determinants with many researchers pointing to human capital investment as a key determinant. This study investigated the effect of human capital investment on sustainable development in West Africa using a panel data of four (4) selected West African countries. The study covered the period 2015 to 2022. The variables adopted for the study were the sustainable development proxied by the sustainable development index, government health expenditure proxied by the government total expenditure on health as a percentage of GDP, government education expenditure proxied by government total expenditure on education as a percentage of GDP and literacy rate proxied by the education index of the selected West African countries. Using the PMG model, the research found a positive relationship between government education expenditure and sustainable development both in the short run and long run. Government health expenditure was negatively related to sustainable development in the short run but showed positive connections to sustainable development in the long run. Education index was negatively related to sustainable development in the short run but was positively related to sustainable development in the long run. Based on the findings of the research, the study recommended increased investment by the government and private sector in the education and health sector West African countries to improve education and health outcomes and increase the chances of achieving the sustainable development goals.

Suggested Citation

  • Kayode David Toluhi & Prof. Sumaila A. Joseph Obansa & Modestus Chidi Nsonwu, 2024. "The Effect of Human Capital Investment on Sustainable Development: A Case of Selected West African Countries," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(11), pages 3310-3321, November.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:11:p:3310-3321
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-8-issue-11/3310-3321.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/the-effect-of-human-capital-investment-on-sustainable-development-a-case-of-selected-west-african-countries/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Muhamadu Awal Kindzeka Wirajing & Tii N. Nchofoung & Felix Mejame Etape, 2023. "Revisiting the human capital–economic growth nexus in Africa," SN Business & Economics, Springer, vol. 3(7), pages 1-29, July.
    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    3. Mingqi Zhu, 2023. "The role of human capital and environmental protection on the sustainable development goals: new evidences from Chinese economy," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(1), pages 650-667, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muhamadu Awal Kindzeka Wirajing & Tii N. Nchofoung & Roger Tsafack Nanfosso, 2024. "Inclusive education and labour productivity: The case of Sub‐Saharan African countries," South African Journal of Economics, Economic Society of South Africa, vol. 92(4), pages 498-523, December.
    2. Zouheir Abida & Houria Abdellaoui, 2025. "Institutions, Human Capital, and Economic Growth in the Maghreb countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(2), pages 7085-7111, June.
    3. Musliudeen Adewale Balogun & Sheriffdeen Adewale Tella & Oluwaseyi Adedayo Adelowokan & Jimoh Sina Ogede & Soliu Bidemi Adegboyega, 2024. "Achieving sustainable development in ECOWAS countries: the impact of trade openness, poverty and human capital," Future Business Journal, Springer, vol. 10(1), pages 1-18, December.
    4. repec:ilo:ilowps:366690 is not listed on IDEAS
    5. Chu, Angus C. & Cozzi, Guido & Furukawa, Yuichi, 2016. "Unions, innovation and cross-country wage inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 64(C), pages 104-118.
    6. Jeffrey Frankel, 2014. "Mauritius: African Success Story," NBER Chapters, in: African Successes, Volume IV: Sustainable Growth, pages 295-342, National Bureau of Economic Research, Inc.
    7. Lutz Arnold & Christian Bauer, 2009. "On the growth and welfare effects of monopolistic distortions," Journal of Economics, Springer, vol. 97(1), pages 19-40, May.
    8. Yew-Kwang Ng & Xiaokai Yang, 2005. "Specialization, Information, And Growth: A Sequential Equilibrium Analysis," World Scientific Book Chapters, in: An Inframarginal Approach To Trade Theory, chapter 20, pages 447-474, World Scientific Publishing Co. Pte. Ltd..
    9. Loebbing, Jonas, 2018. "An Elementary Theory of Endogenous Technical Change and Wage Inequality," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181603, Verein für Socialpolitik / German Economic Association.
    10. Grimaud, Andre & Rouge, Luc, 2003. "Non-renewable resources and growth with vertical innovations: optimum, equilibrium and economic policies," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 433-453, March.
    11. van de Klundert, T.C.M.J. & Smulders, J.A., 1991. "Reconstructing growth theory : A survey," Other publications TiSEM 19355c51-17eb-4d5d-aa66-b, Tilburg University, School of Economics and Management.
    12. Brautzsch, Hans-Ulrich & Günther, Jutta & Loose, Brigitte & Ludwig, Udo & Nulsch, Nicole, 2015. "Can R&D subsidies counteract the economic crisis? – Macroeconomic effects in Germany," Research Policy, Elsevier, vol. 44(3), pages 623-633.
    13. Tung Liu & Kui-Wai Li, 2008. "Revisiting Solow’s Decomposition of Economic and Productivity Growth," Working Papers 200805, Ball State University, Department of Economics, revised Dec 2008.
    14. repec:rza:wpaper:029 is not listed on IDEAS
    15. Basso, Henrique S. & Jimeno, Juan F., 2021. "From secular stagnation to robocalypse? Implications of demographic and technological changes," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 833-847.
    16. Martha Denisse Pierola & Ana Margarida Fernandes & Thomas Farole, 2018. "The role of imports for exporter performance in Peru," The World Economy, Wiley Blackwell, vol. 41(2), pages 550-572, February.
    17. Cristiana & Teodora Borota, 2011. "World Trade Patterns and Prices: The Role of Productivity and Quality Heterogeneity," Working papers 19, National Bank of Serbia.
    18. Luis Garicano & Thomas N. Hubbard, 2016. "The Returns to Knowledge Hierarchies," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 32(4), pages 653-684.
    19. Robert J. Shiller & Stefano Athanasoulis, 1995. "World Income Components: Measuring and Exploiting International Risk Sharing Opportunities," NBER Working Papers 5095, National Bureau of Economic Research, Inc.
    20. Bottai, Carlo & de Rassenfosse, Gaétan & Raiteri, Emilio, 2025. "A new approach to measuring invention commercialization: An application to the SBIR program," Research Policy, Elsevier, vol. 54(9).
    21. Sodiq Arogundade & Mduduzi Biyase & Hinaunye Eita, 2021. "Foreign Direct Investment and Inclusive Human Development in Sub-Saharan African Countries:Does local Economic Conditions Matter?," Economic Development and Well-being Research Group Working Paper Series edwrg-01-2021, University of Johannesburg, College of Business and Economics, revised 2021.
    22. Christian Groth & Karl-Josef Koch & Thomas Steger, 2006. "Rethinking the Concept of Long-Run Economic Growth," CESifo Working Paper Series 1701, CESifo.

    More about this item

    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:bcp:journl:v:8:y:2024:i:11:p:3310-3321. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    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.