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Inclusive growth, human capital development and natural resource rent in SSA

Author

Listed:
  • Ibrahim D. Raheem

    () (University of Kent)

  • Kazeem O. Isah

    (University of Ibadan)

  • Abdulfatai A. Adedeji

    (University of Ibadan)

Abstract

Abstract This paper seeks to achieve two objectives. First, we argued for the increase in government expenditure on education and health to examine the possibility of achieving inclusive growth. Second, financing gap model was employed to estimate the potential growth in GDP per capita that is accruable to the economy if government use natural resource rent to finance increase in expenditure of education and health. Relying on dataset for 18 SSA countries, among the results obtained showed that both government expenditures are found to be significant for explaining growth in SSA. However, augmenting health expenditure with natural resource appears to be more significant for making growth process inclusive. Also, the results of the simulation exercise indicate that increasing government expenditure on health would increase GDP per capita growth by over 3.1 %. The policy implication of this is drawn based upon the results obtained.

Suggested Citation

  • Ibrahim D. Raheem & Kazeem O. Isah & Abdulfatai A. Adedeji, 2018. "Inclusive growth, human capital development and natural resource rent in SSA," Economic Change and Restructuring, Springer, vol. 51(1), pages 29-48, February.
  • Handle: RePEc:kap:ecopln:v:51:y:2018:i:1:d:10.1007_s10644-016-9193-y
    DOI: 10.1007/s10644-016-9193-y
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    References listed on IDEAS

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    1. Justin Yifu Lin, 2012. "The Quest for Prosperity: How Developing Economies Can Take Off," Economics Books, Princeton University Press, edition 1, number 9812.
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    3. Acemoglu, Daron & Johnson, Simon & Robinson, James & Thaicharoen, Yunyong, 2003. "Institutional causes, macroeconomic symptoms: volatility, crises and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 49-123, January.
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    5. Mutiu A. Oyinlola & Oluwatosin A. Adeniyi & Ibrahim D. Raheem, 2015. "Natural resource abundance, institutions and economic growth in Africa," African Journal of Economic and Sustainable Development, Inderscience Enterprises Ltd, vol. 4(1), pages 34-48.
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