It has been enunciated that it is possible to reduce the size of the sacrifice ratio in an economy without a corresponding increase in the rate of inflation. Besides, for the Nigerian economy, there are issues relating to the inflationoutput relationship, among which is how inflation inertia impacts on output and unemployment. It is therefore apt to ascertain what Nigeria's sacrifice ratio could be after many successful inflation reductions over the years. Adopting the Instrumental Variables Generalized Method of Moments (IV-GMM) technique and using data from1970-2015, the findings suggest that inflation inertia has a significant negative impact on the actual rate of inflation in Nigeria. It was also revealed that the percentage of a year's real GDP that must be forgone to reduce inflation by 1 percent in Nigeria is 5.1 while 53.6 percent of output was sacrificed in 1982. Equivalently, a sacrifice of 26.6 percent of cyclical unemployment was made in the same year; while the highest percentage of GDP was sacrificed in 1990 and the lowest in 2007.
This study adopts the Lerman and Yitzhaki approach to measure progressivity and re-ranking effects in health care financing in South East Nigeria. Result supports the existence of regressive healthcare payments. Households that spend more to healthcare financing are unable to maintain their original social status due to net income declining below prepayment income. This could certainly be catastrophic as it takes a huge proportion of the household's income, leaving households with insignificant amount on other basic needs. The in the region should develop and implement healthcare policy that can support healthcare spending of the poor households to prevent more people falling deeper into the poverty trap.
Rapid urbanization is on the increase especially in the developing countries and, the need for shaping sustainable cities continues to draw widespread recognition and has remained a major concern. Thus, urbanization and sustainable cities in Nigeria is examined using descriptive technique and came up with several lessons. Arable land is declining following fast increasing urban population growth. Arable land may not be capable of sustaining to meet the needs of the future generation, as the urban population continues to increase except appropriate policies are put in place to control it. Nitrous oxide emissions also rise at a faster rate, rising above the urban population growth. Such a trend means jeopardizing sustainable cities. Renewable energy consumption is falling while CO2 emissions are rising, which undermines sustainable city. Urbanization is fast increasing and cities are formed but the cities are not sustainable. We recommend infrastructural development in Peri-urban areas and rural areas. This will facilitate the urbanization process and city borders can be expanded and spread out to absorb neighbouring cities. In this way, urban population agglomerations will reduce and more arable land will be available. Also, the efficient use of renewable energy systems is recommended.
Health expenditure, child mortality and economic growth in Nigeria was examined using time series data covering the 1980 – 2020 sample periods. The Ordinary Least Square (OLS) technique was employed in analyzing the data. Empirical results showed a negative and insignificant impact of government health expenditure on under-five child mortality. It was also found that government capital expenditure had a negative and insignificant impact on under-five mortality, while government recurrent expenditure had a negative and significant impact on under-five mortality. Gross fixed capital formation had a positive and significant impact on under-five child mortality. It was also found that child mortality, government capital expenditure and domestic investment had a positive and significant impact on economic growth, while inflation had a negative and significant impact on economic growth. We recommend an increase in the yearly budgetary allocation to the health sector. However, the key to good outcomes is dependent not on the only mere increase in budgetary allocation but rather on implementing a public finance system that is good enough to extend and possibly link particular expenditure and revenue decisions and ensure appropriate usage of the allocated fund as transparently as possible.
Terrorism in Nigeria is on the increase despite government counter-terrorism efforts and expenditure. This paper examines the impact of terrorism on economic growth and human capital development in Nigeria from 1981 – 2019. The Generalized Method of Moments (GMM) estimator was employed in analyzing the data. A negative and insignificant impact of terrorism on economic growth and human capital development was found. Internal and external conflict also had a negative and insignificant impact on economic growth and human capital development. Government expenditure as well had a negative and insignificant impact on economic growth and human capital development. Domestic investment had a positive and significant impact on economic growth, while its impact on human capital development was positive but insignificant. We, therefore, recommend establishing a bank of security to directly fund security in Nigeria. This can contribute to remedying the terrorism situation. Also, establishing a bank of security can serve as a channel where armed forces and other security personnel who died in service to the nation can be compensated. This will encourage the armed forces in the battle against terrorism.
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