Impact of Public Debt on Human Capital Index in Nigeria
Abstract
This study ascertained the effect of public debt on human capital index in Nigeria. The study extracted the data from the Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank data spanning the period from 1999 to 2022. Descriptive analysis was used to analyze the data multiple regression was employed to test the hypotheses. The study found that both external debt and domestic debt were statistically significant on human capital index. Given the predictive relationship between the human capital index and public debt, it is evident that as the country's economy expands, external and domestic debts also tend to increase. However, this scenario should be avoided. Based on this, it was advice that government is advised to focus on enhancing local productivity and utilizing local financial resources more effectively.
Keywords
Public Debt
External Debt
Domestic Debt and Human Capital Index
References
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