Education, Human Capital Formation and Economic Growth in Sub-Saharan African Countries: A Conceptual Analysis

According to the human capital theory variations in economic growth are explained by differences in the influence of education on human capital formation within countries. Despite huge government investment in education aimed at building human capital countries within the Sub-Saharan African (SSA) region continues to face low economic growth. This conceptual paper thus investigates the relationship between education, human capital formation and economic growth in SSA. Findings from the theoretical and empirical analysis reveal that education in SSA countries seems to make an insignificant contribution to human capital formation and economic growth jointly. In conclusion, the economic development variations observed across countries might be an indication of the need for a context-based human capital-based education approaches to strengthen economic growth within SSA countries. The study recommends that educational approaches that strengthen human capital creation should be adopted to promote economic growth in SSA countries. [For the complete Volume 20 proceedings, see ED622631.]