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Special Centennial Issue
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No. 389 |
October 2017 |
Vol. XCVIII |
ISSN 0019-5170 |
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Contents
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MACROECONOMIC DETERMINANTS of
Health Outcomes in Nigeria
Agbatogun, Kehinde Kabir1
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This paper examined the macro socio-economic
determinants of health outcomes in Nigeria between 1980 and 2015 The study was predicated on the Grassman analytical framework rooted in the human capital
development theory macro-econometric model incorporating major macro socio-economic variables in explaining health outcomes was explored. Two variants of
the model were estimated based on alternative measures of health outcomes by life expectancy and under-five mortality.
ARDL bound test estimation technique that took into consideration error correction mechanism was used Texts of the model's reliability were carried out using unit root and
Co-integration tests.
Except for GDP per capita income, government health expenditure, and literacy rate had positive significant effects
on life expectancy. The influences of government health expenditure was significant, bt health worker exert positive influence though insignificant on under-five mortality rate. This suggests positive relationships suggested that they could be important in influencing health outcomes.
Key Words : Life expectancy, Under-five mortality Health outcomes in Nigeria, Per capita income, Macro socio economic determinants
- Professor, Economics Department, College of Social and Management Sciences, Tai Solarin University of Education, Ogun State, Negeria.
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A Time Series Analysis of the Nexus Between
Telecommunications Infrastructure and
Economic Growth in India
Mohina Saxena1
Surajit Bhattacharyya2
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This study explores the interlinkage between advancement in
telecommunications infrastructure and associated enhanced economic activity in India by looking at last three decades [1981-2014]. We also identify other (macro) economic determinants such as gross domestic investment, trade volume and real effective exchange rate that could have affected India's growth process in the past decades. There is no long-run relationship between
telecommunications infrastructure and economic growth. Contrary to earlier research on Indian data, we found short run unidirectional causality emanating from level of
economic activity to the development of telecommunications infrastructure. To avoid any specification ban', we perform a multivariate VAR analysis While there has been absence of long run relationship: short run unidirectional causality remained valid Interestingly, domestic investment does not cause economic growth even in the short run; however, there is unidirectional causality from REER to domestic investment and aggregate output. Short run bidirectional causality is observed between economic growth and total trade volume implying existence of feedback effect.
Key Words: Telecommunications infrastructure, Economic growth, Granger causality, Cointegration, Multivariate VAR
JEL Classification Codes: C22, C32, L96, 01
- PhD Scholar, Department of Humanities & Social Sciences, IIT Bombay, Mumbai - 400076
Email: mohina.saxena@iitb.ac.in
- Associate Professor of Economics, Department of Humanities & Social Sciences. IIT Bombay, Mumbai - 400076.
Email: surajitb@itb.ac.in
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Basel III and Systemic Environmental Risk:
A Critical Memo
Nitai C. Nag 1
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In this paper, we do two things. First, we point out how deftly Basel III does address systemic environmental risks aimed in turn for overall banking stability Secondly, we make efforts to amass country specific data on financial strategy about green growth. We observe that countries also indigenously devise strategies to tackle environmental risks over and above what they do to meet Basel III conditions. We are tempted to argue that Basel III, while deficient in
tools with which to meet the suid kind of risks could do better by taking lessons from ongoing best ones of the best practices on it in places over the world. Efforts are going on at government, corporate, as well as individual bank levels to deal with systemic environmental risks with aims to turn development sustainable and make
Financial sector stable A large number of countries, including the UK, the USA, France, China, Brazil, Peru, India, Bangladesh, et pursuing on their own policies to turn financial sectors adjustableto systemic environmental risks.
- Professor, Department of Economics, University of Chittagong, Bangladesh.
- Revised version of the author's paper presented in the National Seminar. Towards a Green Future, held on February 6-7, 2016 at the Department of Economic University of Allahabad
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Prospects of Indian IT Software Exports with European
Union: A Lesson for Developing Countries
Dr. Pradeep Kumar Singh 1
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The software and related services industry has become one of the significant growth catalysts for India. This sector is amajor contributor to the growth of the economy and has a
multiplier effect in terms of foreign exchange earnings investments, employment and overall economic growth Indian software exports are over dependent on US market with a share of 59 percent European Union is the second largest destination for Indian software exports accounts for 27 per cent of total exports India's demographic advantages have provided it with a young, skilled, competitive, English speaking workforce, of which Europe will be lacking in the near future. So the skilled as well as semi-skilled personnel from the ICT sector of India can look upon the EU as a potential source and destination for jobs The paper examines the role of Indian IT software exports to
European Union in enhancing the foreign exchange earnings of the industry. The study is based on secondary data from i.e.1993-94 to 2013-14) collected on annual basis Data has been collected from different relevant sources, such as websites of RBI, Ministry of Commerce & Industry, and Economic Survey. Granger Causality Test (GC Test) has been applied to test the causal relationship (uni-directional or bi-directional) between Indian IT software export to European Union and foreign exchange earnings of the
sector. The study finds a unidirectional relationship between the variables which means foreign exchange earnings by IT software industry are significantly affected by IT software exports while IT software export is not significantly affected by foreign exchange earnings by IT software industry. The
important factors affecting exports may be the availability of cheap and skilled labour force, time-zone difference. government policy, trade policy, better security, quality aspect. etc. The result would be a lesson for developing countries in the manner that they should maintain a better
relationship with EU to develop IT software sector.
Key Words:Software. Information Technology. Demographic.
Economic Growth, Exports.
- Assistant Professor. Department of Economics, University of Allahabad, Allahabad
211002, E-mail : pradeep bpo1990@gmail.com
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Dynamic Interactions among Exchange Rate VolatilityImport Demand and Economic Growth: Evidence
from Nigeria
Ajayi, Omotola Fadekemi 1
Akinbobola, Temidayo Oladiran (PhD) 2
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This study examined the dynamic interactions among exchange rate volatility, import demand and economic growth in Nigeria over the period of 1986-2015 Secondary data on variables such as import demand. real gross domestic product, exchange rate volatility, labor forceparticipation rate were Sourced from the World Development Indicator (WDI) of World Bank.The study used impulse response function and variance decomposition of vector autoregressive model. The study found that an increase in exchange rate volatility reduced import demand and further revealed that import demand has not significantly led to an increase in economic growth in Nigeria. The study concluded that import demand in Nigeria comprises of majorly consumables goods. Hence, the need for the Nigerian government to restructure the nature of its import demand in order to reduce the effect of exchange rate volatility on import demand and to increase economic growth.
Keywords:Exchange Rate Volatility. Import Demand and Economic Growth.
- Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria
Email: Omotolafadekemi@gmail.com
- Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria,
Email: bobola@yahoo.co.uk
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Feasibility of e-Health Implementation in India
Learning from Global Experience
Rohtash Prashar 1
Dr. Rakesh Kumar Sharma 2
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India has earned its reputation for information technology and software hub in the world. Keeping in view its large geographical area and huge population, it becomes more imperative that India leverages its healthcare system by integrating its technical expertise with the healthcare ecosystem. India is a diverse country in many aspects and healthcare accessibility is one of the major aspect. On one side of the continuum is the healthcare system which offers world class facilities and expertise to the patients and is not only thriving owing to the middle class and upper middle class of the country which has the paying capacity but also due to the medical tourism and hence catering to the international patients. But on the other side, India which is struggling to provide the basic healthcare services to the patients due to various challenges Due to privatization and rapid urbanization, India has considerable population working in private sector and is living in metropolitan and cosmopolitan cities. There is increasing prevalence of diseases like diabetes, hypertension, depression, obesity insomnia are among the young population to. The chaotic schedules, work pressure, long working hours and paucity of time often leads to ignorance on the part of people for their health. A robust e-Health infrastructure in urban areas would be of immense help to this category of people who have resources as well as understanding of use of Technology. This paper highlights the e-Health experiences across the globe and identifies various benefits and challenges in the implementation of e-Health, which will help the decision makers at different level in India to successfully integrate information technology with healthcare.
Keywords: E--Health, Hospital Information System (HIS).
Information and Communications Technology (ICT).
- Research Scholar, School of Humanities Social Sciences. Thapar University Patiala-147004,
Email:rohtashmprashar@gmail.com
- Assistant Professor, School of Humanities & Social Sciences, Thapar University. Patiala-147004,
Email:rakesh.kumar@thapar.edu
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Effects of the Determinants on Household Health
Expenditure: An Empirical Study of Cuttack City
Dr. Sonali Chakraborty 1
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The government of Odisha recognises that investment in health care results in invaluable gain in human development
It has set various plan and goals to improve the health condition of its people. For example, the infant mortality rate has reduced from 98 per 100 the birth by 2000-2001 to 53 per 1000 live births by 2014-15. In spite of decline in IMR in Odisha, still it remains the third highest in India The
low public expenditure results in deprivation f health services to the economically weaker section of the society in The State: The major part of health expenses are met by the private sources. Household constitutes major part of the health expenditure in the state. The household income is found to be positive and statistically significant a level, with increase in household income the health expenditure increases but less than proportion. Age and level of colon also influences the health care expenditure passively and sight family. It is found that health care expenditure of the forward groups is higher than the backward groups in the study area.
- Faculty of Economics (v/f). School of Management: KIIT University, Bhubaneswar,
India E-mail : sonalichakraborty79@gmail.com
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Monetary Transmission in India: An Assessment of
Inflation Targeting
Sumedha Pandey* 1
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The adoption of inflation targeting in India has been a much debated topic which also becomes a challenge for theemerging economy. Though inflation targeting has already been adopted in many emerging and advanced countries, acceptability in India is a matter of concern India formally adopted flexible-inflation targeting (FIT) in June, 2016 to place price stability, defined in terms of target CPI inflation,as the primary objective of the monetary policy. The present paper tries to study the level of flexibility in transmitting the benefits of inflation targeting through monetary policy in the desired area. To maximize the monetary policy framework, India could consider introducing regular review of the regional economy: instituting a Monetary Policy Committee; and separating debt from monetary management.
Keywords:: Inflation Targeting, monetary transmission inflation, growth.
- Research Scholar. Department of Economics, University of Allahabad
Email: sumedhapandey511@gmail.com
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A Review on Role of Micro Finance in Financial Inclusion in India
Pradeep Kumar Panda 1
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GOD appears before the POOR through works and wages.
- Rabindranath Tagore
Micro-Finance has been recognised and accepted as one of the new development paradigms for alleviating poverty
through social and economic empowerment of the poor with special emphasis on empowering women and financial
inclusion. The contribution of poor and disadvantaged people to the economic development of the country is largely
dependent upon their to cely credit and create wealth. 70 improve the economic conditions of the poor people, banking and financial services are to be made available easily without any discrimination for the public good. Financial inclusion, more particularly when promoted in the wider context of economic inclusion, can uplift financial conditions and improve the standards lives of the poor and the disadvantaged Access affordable financial services would lead to increasing economic activities and employment opportunities for rural households with a possible multiplier effect on the economy. Further expunding the reach of financial services to those individuals who do not currently have access would be an adjective that is fully consistent with the people-centi definition of inclusive growth which attempts to bridge the various divides in an economy and society, between the rich and the poor, between the rural and urban populace, and between one region and another Thus, financial inclusion could be an instrument to provide monetary fuel for economic growth and is critical for achieving inclusive growth.
Key Words: Micro Finance, Poverty Financial Inclusion, Socio-economic Upliftment, Empowerment.
- Research Scholar, School of Economics, University of Hyderabad,
Email- pradeep25687@yahoo.co.in
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Economic Growth & Government Expenditure in
Pakistan - A Time Series Analysis
Dr. Amit Kundu1
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This article focuses on the literature related to the debate on the Wagner Hypothesis and the Keynesian Hypothesis. This study examines the existence of any short-run and long-run relationship between economic growth and government expenditure in Pakistan over the period of 1961-2014 Economic growth (Yt) and government expenditure (Et) are found to be stationary variables and both the series are I (0). There exists a long-run relationship between economic growth and government expenditure. The study with VAR model confirms that govt. expenditure does not granger cause economic growth. The Impulse Response Functions indicate that govt. expenditure shocks were short-lived for economic growth and economic growth stocks were short lived for govt. expenditure: Variance Decomposition study firmly confirms that govt. expenditure shocks were not important for short-run variations in economic growth (Keynesian Hypothesis).
Key Words: Cointegration, VEC VAR. Impulse Response Function, Variance Decomposition.
- Assistant Professor, Department of Economics, Mathabhanga College, Cooch Behar-
736101, West Bengal E-mail: msamitkunduarediffmail.com
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