Impact of Human Capital on Economic Growth in West African Region

AFRAG013

Impact of Human Capital on Economic Growth in West African Region

Basil Chinaemerem Amauwa Department of Accounting, College of Management Sciences, Michael Okpara University of Agriculture, Umudike, Abia

State, Nigeria.

E-mail: basilgreat72@gmail.com

Abstract

This paper examines the impact of human capital on the economy of West African countries, using time series data from 1991 to 2020. The study used the econometric technique of Ordinary Least Square (OLS) in form of single linear regression. The regression model was estimated through the use  of  E-view  software.  The  Regression result showed that human capital which was represented by human capital Index has a positive and significant effect on the economic growth of West African countries. The study concluded that human capital is indispensable to economic development and no economic development is possible without human capital. And recommended that the government of West African countries should Investments in human capital development which must be supported by systematic and stringent performance measurement systems with inbuilt external auditing of skill capabilities. And there should to a standard measurement for human capital, as to be able to report it effective in the financial statements of firms.

Keywords: Human Capital, Economic Growth, West African Countries

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