Comparative Perspectives of Health, Income, and Well-Being: The Case of Emerging Market Economies (Published)
There has been increasing interest in the direct measurement of the state of global well-being and cross-country comparison of well-being or happiness. Analyses of national well-being conventionally have focused on per capita income. Income and its growth are certainly an essential indicator of standard of living; but it is not the only thing that matters. There are noneconomic factors that contribute to well-being. Income may not be worth as much if one does not have the health and other capabilities to enjoy it. Satisfactory health together with other capabilities – freedom, the absence of conflicts, war, violence, and adequate social capital – can contribute to people’s subjective well-being or happiness. In this paper, we use the analytical framework of the economics of happiness to explore the relationship between happiness or subjective well-being and good health taking into consideration the role of social capital – trust and good governance.
Keywords: Emerging market economies, Health, Income, comparative perspectives, well-being
INTERNATIONAL TRADE: A MECHANISM FOR EMERGING MARKET ECONOMIES (Published)
International trade has contributed greatly to the global economic system. Emerging market economies (EME) was a result of international trade activities. The international trade programme has encouraged many countries in the world to adopt international economic policies that promote greater trade and investment. BRICs acronym implies Brazil, Russia, India and China represent the leaders of these emerging market economies. International trade activities underpin the growth and development of these countries. This study brings round the facts and figures on the activities of international trade and how its fostered growth and development of the emerging market economies. Many theories of international trade were used to underpin these activities of the trade. These include Heckscher-Ohlin model, Rechardian model and Gravity model of international trade. The researchers’ presents some criticisms accompany by these beautiful roles play by international trade to emerging market economies and useful recommendations were provided for these economies.
Keywords: Dumping, Emerging market economies, Global economic system and theories, International Trade, Investment