IOSR-JEF   Volume-4 ~ Issue-3

Abstract: The paper examined the effectiveness of fiscal policies in stabilizing the global economy. The annual growth rate and some macroeconomic variables such as inflation rate, unemployment rate and exchange rate for selected advanced and developing economies are used for the analysis. Time series data for these variables were obtained basically from the World Bank and tables, percentages and line graphs are the tools used to analyze the data. The results revealed that the annual growth rate for the advanced economies has been relatively stable, except for the global economic crisis which affected almost all the selected advanced countries. For the developing economies, the growth rate showed gross instability which does not follow any defined pattern. The macroeconomic variables examined showed that fiscal policies are effective in stabilizing advanced economies but not so with the developing economies. High level of corruption, insecurity, rigid and narrow tax structure are identified as the major challenges working against the effectiveness of fiscal policies in developing economies It is expected that when these challenges are addressed, fiscal policies will be more effective in stabilizing economies of developing countries.
Key Words: Corruption, Economy, Effectiveness, Fiscal policy, Global

Abstract: Monetary policy is one of the macroeconomic instruments with which monetary authority in a country employs in the management of money supply and the economy thereof to attain the fundamental objectives of price stability and maintenance of balance of payment. The monetary policy strives to explain the correlation between macro economic variables and the monetary variable and this form the focal point of this study. The study also set out to ascertain the impact of CBN money supply on the growth of Nigeria economy, ascertain the extent of correlation that exists between money supply and output. Scholars in the field opined that contractionary monetary policy negatively influences total consumption, CBLA and output. Within this framework, money supply, CLBA and output variables are analyzed for the period of 18 years (1994-2012) using Statistical package for social sciences (SPSS) tool. The findings shows that change in money supply (M2) has significant effect on variables such as CBLA and output in Nigerian economy within the period under review, Also there is a significant strong multiple correlation among Real GDP, Money supply and Commercial Banks' loans and Advances (R= 95.1%). The coefficient of Determination (R2) reveals that 90.5% of variations in RGDP were explained by our selected explanatory variables (Money supply and Commercial Banks' loans and Advances).

Abstract: Tourism is one of the most significant contributors to the Indonesia growth of economy, based on data from the Indonesia Central Bureau of Statistics in 2012, the share of national tourism to GDP is 13.9 percent and of course the contribution of the sector to be helpful for the growth of the national economy, through foreign exchange earnings as revenue from tourist consumption. Besides that, it has provided a multiplier effect to other sectors which related to the sectors. Therefore, the increasing of tourism investment and trade will be focus in the tourism development program to improve the contribution. Meanwhile, the Indonesia Coordinating Board (BKPM) stated the average national investment for the tourism sector is Rp. 2.73 billion or 6 percent from total investment during 2006-2012, in other words an investment in tourism sector has not been able to provide optimal contribution to the national economy development considering to its potential.
The purpose of this study was to analyze the determinants of investment, demand and supply of Indonesian tourism sector. Regarding to answer the problems, this research used series data from 1990 – 2012 periods; by using simultaneous model (2SLS) the model analyzed impact of investment, and international trade of Indonesia tourism sector to the national economic growth. Based on the Two Stages Least Squares method on simultaneous model, the results of the analysis gives some conclusions including: (1) tourism arrivals, tourism expenditure, investment, consumption price index, total consumption, government spending, export and import tourism affected the national tourism demand, (2) Current investment and investment on previous year, total consumption on previous year, and travel warning have positive impact to national tourism supply, (3) GDP was the most influenced variable beside Indonesia tourism price and neighbor countries' tourism price as competitors of Indonesia tourism. Finally, the simulations showed the fiscal and monetary policy impact to the national economic tourism sector.
Keyword: Impact, investment, international trade, supply and demand tourism, and economic growth

Abstract: One of the basic functions of government is to provide quality and effective health care services to its citizens as it is only when the people are healthy that any reasonable development can take place. Funding of health care sector in Nigeria is still face with enormous challenges that must be overcome if quality and effective health care service is to be made available to the people. This article reviewed relevant literatures related to public health care financing in Nigeria which were published by journals within and outside the country. An overview of the literatures showed that public health care services in Nigeria is financed through; out-of-pocket payments, tax revenue, donor funding and through health insurance. Trends have shown that the bulk of public health care is financed by households through out-of-pocket payments with government contributing just about 25% of the total health expenditure. The major challenges of health care financing includes, poor funding by government, high out of pocket payment, inadequate implementation of health care financing policy and corruption. This article concluded by recommending that there should be an increase in government funding of public health care, adequate implementation of health care policies, proper monitoring and evaluation of utilization of funds, discourage government sponsorship for treatment of personnel abroad and finally encouraging local production of drugs and other medical equipments.
Keywords: Trends, Challenges, Public Health, Financing, Nigeria

Abstract: Nobel Prize is one of the most prestigious prizes in economics as it is in some of the other selected fields. The current paper attempts to give a brief account of the Nobel Laureates in Economics during the first decade of its inception and their important works. The contribution of the Nobel Laureates during 1970s is extremely crucial as it paved the way for further research and development in the subject. This paper is a compilation of their contribution, which is mainly in the fields of micro-economic theory, growth and development and international economics. It would be a pleasant reading to know and understand the contributions of some of the stalwarts and legends of 1970s in economics at one place.
Keywords: Nobel-Prize, Nobel-Laureates, Economics, 1970s

Abstract: This paper uses the concept of co-integration in an empirical analysis of the long-run relationship of Nigeria's public healthcare expenditure, institutions and health sector performance outcome. The analysis employs the use of annual data for the sample period from 1970 to 2011. The purpose of this study is to investigate and explain the impact of government healthcare expenditure and the quality of institutions on the sector performance outcome as well as provide a more in-depth analysis of the important of institutions in determining a sustainable positive health sector outcome with its multiplier effects on development. The autoregressive distributed lag (ARDL) and VECM granger non-causality techniques were used for estimating the long-run and short run coefficients of the health sector model as well as to confirm direction of causality between the variables. The empirical results from ARDL bound testing approach provide strong evidence of the existence of a long-run and short- run stable relationship among the variables included in both models. In addition, both models estimated in this paper offer empirical results, which support the hypothesis that good institutions are germane to positive health sector outcome, and that causality runs from all the variables in the model to infant mortality rate. This is an important finding for the achievement of healthy human capital necessary for a sustainable economic development in Nigeria. JEL Classification H72; HI10; H51; I-18; O-15

Key Words: Infant mortality, Institutions, Granger causality, Health, Economic development

Abstract: A self-help is a small, economically homogeneous and attractive group of 10-20 rural poor people which comes together to save small amounts regularly. It generally performs various types of economic activities with the help of their small savings. Women Self-help groups are informal association of women. The main purpose of such an association is to enable members to gain economic benefits out of mutual help, solidarity and social responsibility. Generally, the economic benefit includes mobilization of savings and credit facilities and to pursue group based economic activities. SHG approach is the group based approach, which helps the poor women members of each SHG to accumulate capital by way of small saving and helping them to get credit facilities from their funds. Presently, the poor women of the society are facing the financial problem to start business or to undertake different economic activities to become self-employed and self-reliant. The SHG can empower poor women by providing facilities like savings and credit in the economic development process of the society

Keywords: Microfinance, SHGs, Poverty, Poor Women, Women empowerment