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The Effects of Foreign Aid and Foreign Direct Investment on Human Capital Development in Nigeria: Evidence from 1990 to 2018

Year: 2024

Type: article

Abstract: Economic growth and human development have been one of the top goals of every forward-looking country; hence there is a constant need to analyze the important factors driving its growth or decline. This study explores the impact of foreign aid and foreign direct investment (FDI) on the human capital development mirrored by human development index (HDI) in Nigeria from 1990-2018 using World Bank indicators. Johansen cointegration test results show a long-term relationship between foreign aid, FDI and human development index. Regression results show a positive relationship between foreign aid and HDI but a negative relationship between FDI and HDI.

Source: Journal of Human Resource and Sustainability Studies

DOI: 10.4236/jhrss.2024.122014

Authors: Oluwaseun Ibukun, Joshua Alahira, Bankole Kumolu-Johnson, Babatunde Oloyede

Institutions: University of Toledo, University of the Cumberlands, Bowling Green State University

Language: English

Topic: International Development and Aid

Subfield: Development

Field: Social Sciences

Domain: Social Sciences

SDGs: Decent work and economic growth, Partnerships for the goals

Open Access status: diamond

OpenAlex ID: W4396752663

FWCI: 1.038

Cites: 21

Cited by: 1

Related to: 10