Nigerian Economic Society
Hi Guest,
Home | Paper Submission | Signup |
      
Providing intellectual leadership in economic management in Nigeria
Quality Of Life in the Context of Economic Development: African Experience

Quality Of Life in the Context of Economic Development: African Experience

 

Abstract: The primary objectives of the paper are to review and assess the debate on concept and measurement of quality of life and explain the relationship between it and economic growth. The debate in the literature is that quality of life has two dimensions – objective and subjective. The objective dimension is measured by quantifiable indicators which reflect material conditions of external environments based primarily on economic growth, while the subjective dimension covers personal and psychological perceptions regarding well-being and life satisfaction. Recent conceptualization of quality of life has downgraded income’s pride of place. Two major initiatives which subsequently responded to this challenge are the Human Development Index (HDI) which emphasize people and their capabilities as the ultimate criteria for assessing the development of a country instead of economic growth, and the World Happiness Report (WHR) which views happiness as the ultimate outcome of a high quality of life. However, neither of these two initiatives eliminated economic growth or income from the picture. Essentially, both regard income as a necessary but not sufficient condition for achieving high levels of human development (in the case of HDI) or for ensuring high levels of happiness and life satisfaction (in the case of WHR). While HDI and WHR overlap significantly in terms of variables used to measure economic and social performance assessments of countries and the differences between them, they do not generally produce the same results. To fully understand why and under what circumstances HDI and WHR ranks may differ sharply, especially in the context of African countries, more research is needed. The effective and fruitful use of both mechanisms rest squarely on this.

JEL classification: I31, O15

Price: N500.00 | Add to cart
 

 

 

Login

Forget password? | Signup for Free!
Note: You must signup your email and create a password before you can register as an NES member
 

Latest News

2020 NES PhD Thesis Prize Award Winners

The Executive Council of the NES is pleased to announce the winners of 2020 NES Thesis Prize Award. ...read more


NES Webinar on Covid-19 and the Nigerian Economy - Press Release

The Nigerian Economic Society (NES) in its Monthly Webinar series on the Nigerian economy hosted the...read more


NES PhD THESIS PRIZE AWARD: Call for Submissions

The Executive Council of the Nigerian Economic Society (NES) hereby announces the call for submissio...read more


Policy Brief on The Nigerian Fuel Subsidy Puzzle: Facts, Fallacies and the Way Forward

Background The issue of the appropriate pricing of petroleum products in Nigeria, of which fuel s...read more


2019 Election of New Council of the Nigerian Economic Society

The Executive Council of NES hereby informs its members that at the Business Session of 2019 Annual ...read more


2019 Nigerian Economic Society Annual Public Lecture Announcement

The Executive Council of NES has the pleasure to announce it's 2019 Annual Public Lecture with the t...read more


E-Mail Subscription

VoguePayVisaMasterCard