A Political Economy of Wellbeing/Wellness in Nigeria

Since the turn of the new millennium, which was the period of clear comparison and computation of the misery index, Nigeria had always record low in the index for the report. Within the last three years, the misery index that was published has shown that Nigeria is the sixth (6th) most miserable country that one can reside. This measure of misery index was also substantiated by the recent report from the World Bank on the issue of poverty, inequality, and wellness. However, it seems to be an intensified interest in how Nigeria will overcome such an unpleasant pattern. In this research, the study examined how macroeconomic indices in enhancing people’s wellbeing—utilising economic growth, monetary policy position, and governance efficiency as, unemployment, interest rate, and inflation rate for macroeconomic performance indicators. The conclusions drawn suggest that economic growth, resulting in the advancement of wellbeing via allocative as well as distributive productivity is possible. Second, there is a stiffening effect on the wellbeing of contractionary monetary policy which increases interest rates and unemployment rates. The outcome extracted also shows that unnecessary domestic lending characteristics of the Nigerian economic system invalidate the wellbeing of the Nigerian people. Therefore, it proposed that the monetary authority reevaluate its present position on sustaining a high level of rediscount rate. Received: 17 November 2021 / Accepted: 30 December 2021 / Published: 5 January 2022

Understanding Hoards

The importance of coin hoards makes it imperative to study them properly. After classifying eight different kinds of hoards, this chapter shows how some historians and numismatists have not treated the evidence carefully. For example, the “Marner Paradox” warns against our natural impulse to reconstruct in detail the identities and lifestyles of hoarders. It is also important to remember that it is the non-recovery of buried treasure that is meaningful and measurable. Coin hoards are best investigated collectively rather than individually. In this way, certain categories of hoards provide a Misery Index that can illuminate changing historical conditions and the responses of populations to them. An example is the No-Tomorrow scenario faced by the victims of Vesuvius. Finally, hoard data are used to calculate how quickly the gold of Alexander the Great disappeared from circulation.

Human Capital Development and Economic Development in Nigeria

This paper set out to investigate the impact of human capital development on the drive to achieving economic development in Nigerian. It adopted the Ex-post facto research design as the variables-Misery Index, GEH and GEE cannot be manipulated as they have previously occurred. The study span for a period of 38 years which covered from 1981 – 2018. Secondary data sourced from the statistical bulletin of the Central Bank of Nigeria and the world development index of the World Bank was utilized for this study. The study employed the ordinary least square (OLS) method and the Error Correction Model estimation technique to examine the long run relationship and short run dynamics of the variables. The result of the Johansen co-integration test established the presence of long run relationship between misery index, pupil teacher ratio, government spending on education and health. The result of the ordinary least square revealed a negative and significant relationship between misery index and pupil teacher ratio in the long run. The results of the short run analysis revealed that current level of pupil teacher ratio impact on the misery index in Nigeria negatively and significantly. Informed by the discoveries, the study proposed the recruitment of more teachers to improve the current pupil teacher ratio in the country and also increase the budgetary allocation to the education sector.

National Defence Expenditure and Its Implications on Economic Development in Nigeria

The issue of security is presently a critical challenge for the Nigeria State: biggest democracy in Africa as reports of killings are plastered on a daily basis on both print and social media. This is unpalatable for a developing country like Nigeria that has its eyes set on improving the lot of its citizens and becoming a force to reckon with in the global economy. It is on this backdrop that this study set sail to examine the association between national defence expenditure and economic development in Nigeria. The study adopted Ex-post facto research design as the variables- Misery Index, CDEX and RDEX: cannot be manipulated as they are annual time series data sourced from the World Development Indicator and the Central Bank of Nigeria annual report from a period of 38 years covering from 1981 to 2018, which were in turn analyzed using the error correction model (ECM) method of estimation. The result of the Johansen cointegration test revealed that government capital spending on defence, recurrent spending on defence, foreign direct investment and misery index have common trends in the long run. The outcome of the normalized cointegration disclosed a negative and significant relationship between government capital spending on defence and misery index, while a positive and significant long run relationship exists between government recurrent spending on defence and misery index. The short run analysis pointed to a positive and significant relationship between previous year’s misery index and current year’s misery index. The study thus recommended that government defence spending be reassessed to make it development oriented and proper monitoring of defence spending be carried out.

IDENTIFICATION AND ASSESSMENT OF CURRENCY CRISES IN THE REPUBLIC OF SERBIA

The aim of the paper is to identify the episodes of currency crises in the Republic of Serbia using the exchange market pressure (EMP) index. The country's resilience to currency crises prevents the collapse of the currency and the transfer of negative effects to the entire financial and real sector, so the research and assessment of the factors of currency crises is extremely important. The survey shows that the strongest strikes on the Serbian dinar were in the period of the global financial crisis in 2008, so that adjusting to shocks from abroad is crucial for the sustainability of the applied managed floating exchange rate regime. On the other hand, the stability of the national currency depends mainly on the achieved macroeconomic results, which are presented globally using the misery index.

The Impact of Okun Misery Index on Out-of-pocket-payments in the Iranian Healthcare System

Introduction: One criterion to measure the achievement of a government's performance is stability and decreasing the misery index that is the sum of inflation and unemployment. Therefore, this study aims to investigate the impact of misery index on patients' out-of-pocket-payments in the Iranian healthcare system. Methods: This paper has used time-series data from 2000 to 2016 and it used three methods to examine the relationship between variables. First, the Dickey-Fuller test was used to evaluate the stationary of variables. Second, the Toda-Yamamoto causality test was used to test causality between variables. Third, Auto-Regressive Distributed Lags (ARDL) was used to test the long-run relationship. Analyzing data was conducted by Eviews 9 software.Results: The results showed that there was a bi-directional causal relationship between the misery index and the out-of-pocket-payments of patients in the health system. Also, increasing 1 unit of misery index increased 1.33 units of out-of-pocket-payments. The correction error coefficient was -0.435 that meant this amount was adjusted per period. In other words, it lasted more than 2 years and less than 3 years that the Nonequilibrium points converge to their long-run points of the relationship.Conclusion: Implementing appropriate policies in order to reduce unemployment and inflation rate can decline the out-of-pocket-payments in the Iranian healthcare system.