The contribution of human capital to the economic development of Cameroon, 1980-2018

Nkwetenang Conelius NGWOLEFACK, Saidou Baba OUMAR

Abstract


Abstract. The paper examines the contribution of human capital to the economic development of Cameroon from 1980¬-2018. To achieve this objective, data were collected from World Bank Development Indicators, for Cameroon, covering the period of 1980-2018. The error correction mechanism model was used to analyse the data using STATA 14 econometric software package. The results show that human capital has a positive and significant relationship with economic development in Cameroon. The findings suggest that gross school enrolment and labour force participation had slowed down economic development in Cameroon. The study recommends that given a significant coefficient of human capital on economic development in Cameroon, the government should create an enabling environment to reinforce the implementation of gross school enrolment, health expenditure and labour force participation policies to accelerate the process of economic development in the country.

Keywords. Asset, Education, Employment, Expenditure, Health.

JEL. D39, H52, I15, I25, J21.

Keywords


Asset; Education; Employment; Expenditure; Health.

Full Text:


References


Acemoglu, D., Gallego, F. A. & Robinson, J.A. (2014). Institutions, human capital, and development, Annual Revised Economics, 6(1), 875-912. 10.1146/annurev-economics-080213-041119

Aghion, P. & Howitt, P. (1992). A model of growth through, Analyses Economiques, 3(2), 1-3. 10.3386/w3223

Almond, D. & Currie, J. (2011). Human capital development before age five. Chap. 15: 1315-1486. In Handbook of Labor Economics, 4, Part B. 10.1016/S0169-7218(11)02413-0

Awopegba, P.O. (2001). Human capital development in Nigeria: A socio-economic analysis, Nigerian Journal of Clinical and Counselling Psychology, 7(1), 157-167. doi. 10.4314/njccp.v7i1.23910

Becker, G.S. (1962). Investment in human capital: A theoretical analysis, Journal of Political Economy, 70(5), 9-49. 10.1086/258724

Bidirici, M. & Bohur, E. (2015). Design and economic growth: Panel cointegration and causality analysis, Procedia-Social and Behavioral Sciences, 210, 193-202. 10.1016/j.sbspro.2015.11.359

Breusch, T.S. & Pagan, A.R. (1979). A simple test for heteroscedasticity and random coefficient variation, Econometrica, 47(5), 1287-1294. 0012-9682(197909)47:5<1287:ASTFHA>2.0.CO;2-9

Dickey, D.A. & Fuller, W.A. (1979). Distribution of the estimators for autoregressive time series with a unit root, Journal of the American Statistical Association, 74(366), 427-431. doi. 10.2307/2286348

Durbin, J. & Watson G.S. (1951). Testing for serial correlation in least-squares regression II, Biometrika, 38, 1/2: 159–171. 10.2307/2332325

Ehrlich, O.H. (1958). Book review of Gerald M. Meier and Robert E. Baldwin (1957). Economic development: Theory, history, policy. New York: John Wiley & Sons, Inc., Pp.xx, 588, The Journal of Economic History, 18(1), 74. doi. 10.1017/S0022050700088860

Fongang, F.F. (2014). Promotion and development of tourism in Cameroon, Unpublished Bachelor of Hospitality Management Thesis, Laurea University of Applied Sciences, Laurea, Kerava. [Retrieved from].

Godfrey, L.G. (1978). Testing against general autoregressive and moving average error models when the regressor includes lagged dependent variables, Econometrica, 46, 1293–1302. doi. 10.2307/1913829

Grundey, D. & Varnas, D. (2006). Human capital creation, accumulation and management in Lithuania: The case of national and foreign capital enterprises, Transformations in Business & Economics, 5(2), 81-105.

Gyimah-Brempong, K., Paddison, O. & Mitiku, W. (2006). Higher education and economic growth in Africa, Journal of Development Studies, 42(3), 509-529. doi. 10.1080/00220380600576490

Hadir, M.A. & Lahrech, A. (2015). Human capital development and economic growth in Morocco, International Journal of Education and Human Development, 1(1), 49-73.

Johansen, S. (1988). Statistical Analysis of cointegration vectors, Journal of Economic Dynamics and Control, 12(2-3), 231-254. doi. 10.1016/0165-1889(88)90041-3

Keller, K.R.I. (2008). Investment in primary, secondary, and higher education and the effects on economic growth, Contemporary Economic Policy, 24(1), 18-34. doi. 10.1093/cep/byj012

Kim D., Izadi S., Hilliges, O., Butler, D.A., Hodges, S., Olivier, P.L., Chen, J. & Oikonomidis, I. (2019). Wearable sensor for tracking articulated body-parts U.S. Patent No.10234941. Washington, DC: U.S. Patent and Trademark Office. [Retrieved from].

Lucas, R.E. (1988). On the mechanics of economic development, Journal of Monetary Economics, 22(1), 3-42. doi. 10.1016/0304-3932(88)90168-7

Meier, G.M. & Stiglitz, J.E. (2000). Frontiers of development economics: The future in perspective. New York: World Bank and Oxford University Press.

Omolewa, M. (2001). The challenge of education in Nigeria, Ibadan: University of Ibadan.

Rosenzweig, M.R. (1994). Human capital accumulation, the family, and economic development, Chap.4: 63-90. In S. Asefa & W. Huang (eds.). Human capital and economic development, Kalamazoo, MI: W.E. Upjohn Institute for Employment Research. doi. 10.17848/9780880995689.ch4

Rosenzweig, M.R. (1996). Aspects of the search for neural mechanisms of memory, Annual Review of Psychology, 47, 1-32. doi. 10.1146/annurev.psych.47.1.1

Schultz, T.W. (1956). Reflections on agricultural production, output and supply, American Journal of Agricultural Economics, 38(3), 748-762. doi. 10.2307/1234459

Schultz, T.W. (1963). The economic value of education, 63. New York: Columbia University Press.

Solow, R.M (1956). A contribution to the theory of economic growth, The Quarterly Journal of Economics, 70(1), 65-94. doi. 10.2307/1884513

Todaro, M. P. & Smith, S. C. (2012). Economic development, 11e, New York: Addison-Wesley.

United Nations [UN] (2020). World economic situation and prospects, New York: UN. [Retrieved from].

World Bank, (2018). Learning to realize education’s promise, World development report 2018, Washington, DC: WB. doi: 10.1596/978-1-4648-1096-1

WB (2021). Digital technologies in education, [Retrieved from].

Yakisik H. & Cetin, A. (2014). The impacts of education, health and level of technology on economic growth: ARDL bound test approach, Socio-economics, 21(1), 169-186. doi. 10.18074/ckuiibfd.484019

Yalcinkaya O., Dastan M. & Karabulut, K. (2018). The effects of international tourism receipts on economic growth: Evidence from the first 20 highest income earning countries from tourism in the world (1996-2016), Montenegrin Journal of Economics, 14(3), 55-71. doi. 10.14254/1800-5845/2018.14-3.4




DOI: http://dx.doi.org/10.1453/jepe.v8i2.2226

Refbacks

  • There are currently no refbacks.


Bookmark and Share


.......................................................................................................................................................................................................................................................................................................................................

Journal of Economics and Political Economy - J. Econ. Pol. Econ. - JEPE - www.kspjournals.org

ISSN: 2148-8347

Editor: [email protected]   Secretarial: [email protected]   Istanbul - Turkey.

Copyright © KSP Library