Education Enrollment Rate vs Employment Rate: Implications for Sustainable Human Capital Development in Nigeria

International Journal of Educational Development, 83, May 2021, 102385

38 Pages Posted: 22 Mar 2021

See all articles by Oluwabunmi Adejumo

Oluwabunmi Adejumo

Obafemi Awolowo University

Simplice Asongu

African Governance and Development Institute

Akintoye Adejumo

affiliation not provided to SSRN

Date Written: March 5, 2021

Abstract

The study examines the dynamic interrelationships among the school enrolment rates and the rate of employment (via unemployment rates) in Nigeria. The study employed Autoregressive estimates and an unrestricted VAR approach to analyze these relationships. The study lends credence to the new-growth theory (i.e. endogenous models) that more investments in human capital, through education especially at higher levels, will allow human capital to evolve dynamically and increase long-run growth in Nigeria. This tendency engenders multiplier effects in stimulating sustainable development given that education-driven growth facilitates employment. The growth literature has been definitive on the role of human capital in achieving long-run economic growth. Therefore, investments in education have been identified as a vital channel for building human capital and achieving long run development objectives. Thus, in the nascent quest for sustainable development, this study takes the new growth theory a step higher by examining the modulating effects of educational-driven growth (i.e. via school enrolments rates) in setting the pace for employment patterns in Nigeria.

Keywords: Education, Employment, Human Capital, Enrolment, Development

JEL Classification: I21; I31; O40; O55

Suggested Citation

Adejumo, Oluwabunmi and Asongu, Simplice and Adejumo, Akintoye, Education Enrollment Rate vs Employment Rate: Implications for Sustainable Human Capital Development in Nigeria (March 5, 2021). International Journal of Educational Development, 83, May 2021, 102385, Available at SSRN: https://ssrn.com/abstract=3798657 or http://dx.doi.org/10.2139/ssrn.3798657

Oluwabunmi Adejumo

Obafemi Awolowo University ( email )

P.M.B 13
Ile Ife
Ile-Ife, Osun 230001
Nigeria
+2347039075914 (Phone)
20005 (Fax)

Simplice Asongu (Contact Author)

African Governance and Development Institute ( email )

P.O. Box 8413
Yaoundé, 8413
Cameroon

Akintoye Adejumo

affiliation not provided to SSRN

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