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Dynamics of Foreign Direct Investment, Macroeconomic Stability, and Sustainable Manufacturing Development in Nigeria
Full text linkThis paper examines the effects of foreign direct investment (FDI) on the performance of Nigeria's manufacturing sector using annual time series data from 1981 to 2023. Using the Autoregressive Distributed Lag (ARDL) framework and its error correction specification, this paper examines the short- and long-run dynamics between manufacturing value added (MANV), manufacturing capacity utilization (MCAP), and FDI inflows (FDIR) as well as key macroeconomic variables: exchange rate, external reserves, balance of payments, inflation, and interest rate. Unit root and bounds tests confirm the combination of stationary and cointegrated variables, and thus the appropriateness of the ARDL approach. The empirical findings show that exchange rate volatility, external reserves, and inflation are key drivers of manufacturing performance, while economic growth and export competitiveness are key determinants of FDI inflows. The error correction terms across the models show strong adjustment toward long-run equilibrium, which underscores the importance of macroeconomic stability, export diversification, and productivity-enhancing FDI in driving sustainable industrial growth. The findings offer new evidence on the role of FDI in promoting manufacturing performance and contribute to the literature on development finance and industrialization, as well as providing insights for policymakers on strengthening the resilience and competitiveness of the manufacturing sector
The dynamic impact of ICT on the economic growth in the developing countries
Full text linkThis paper explores the impact of the information communication and technology (ICT) on the economic growth in the developing countries, the study collect a data for 33 years (1990-2022) and a panel of eighteen developing countries , the purpose is to evaluate how the using of the ICT’s impact the economic growth in the short and long term. Employing a panel series and an autoregressive distributed lag (ARDL) co-integration approach. Our research incorporates some key economic indicators such as GDP growth, individual using of the internet (INT), mobile cellular subscriptions (MCS), and gross fixed capital formation (GFCF). Our empirical results indicate a co-integration link between the variables based on Westerlund test. The results of (PMG-ARDL) reveal that (INT) negatively affect the GDP growth in both the short and long run, those results elucidate that a 1% increase in (INT) results in a -1.02% and -0.03% growth in growth economic. However, the same output showed that the MCS positively effect the economic growth, in the long term, a 1% increase in the MCS results in a 0.001% growth in the GDP growth, and a 0.04% in the short run. The robustness check using (CS-ARDL) showed that the ICT is negatively affect the economic growth in both short and long run. The causality test indicate that both of MCS and INT cause the economic growth
The Effect of Quality Management System on Sustainability of Ministry of Infrastructure and Urban Development in the Northern State of Sudan: The Mediating Role of Consulting Engineering Works and Engineering Professional Ethics
Full text linkThis study investigates the mediating role of Consulting Engineering Works (CEW) and Engineering Professional Ethics (EPE) in the relationship between Quality Management System (QMS) adoption and the sustainability of the Ministry of Infrastructure and Urban Development (MIUD) in the Northern State of Sudan. The research, motivated by observed weaknesses in the Ministry’s performance indicators—affecting economic, environmental, and social sustainability—aims to assess the significance and impact of QMS, CEW, and EPE on Ministry’s Sustainability (MS). Employing a quantitative research design, data were collected via questionnaires from 223 ministry employees, analyzed using descriptive and inferential statistics, and structural equation modeling (SEM) through SPSS and AMOS.Key findings reveal that QMS has a high importance level, while CEW, EPE, and MS are of moderate importance. Path analysis demonstrated a statistically significant direct impact of QMS on MS (standardized effect = 0.584), as well as a full mediating effect of CEW and EPE together between QMS and MS, with a standardized indirect effect of 0.743 and total effect of 0.641. The results confirm that QMS implementation enhances CEW and EPE, which in turn drive the Ministry’s sustainability. The study highlights the necessity for integrating strong quality management, ethical standards, and professional engineering practices to achieve sustainable development in public infrastructure institutions
Human Development and Economic Freedom: Empirical Evidence from the Great Lakes Region
Full text linkThis study examines the impact of economic freedom on human development within the Great Lakes region. This region comprises the states of Burundi, the DRC, Rwanda, and Uganda. The data obtained from the World Bank's Prosperity Data 360 and the HDI from the United Nations Development Programme were employed for this research using fixed-effect panel data models and System GMM Two-Step models to determine the linkage between economic freedom and human development. The results depict a general positive relationship between economic freedom and human development across the region. Specifically, it is seen that economic freedom significantly correlates with human development, ranging from 1.12 in Uganda to 1.85 in Rwanda. HDI in all countries is positively related to human development with a coefficient of 0.13, while life expectancy contributes positively to human development in Burundi, DRC, and Uganda. Expected years of schooling and mean years of schooling are some of the educational indicators that also illustrate positive relationships with human development. Highly correlated to human development, Gross National Income per capita was 0.42 across all countries. The Democracy Index also shows a positive influence on human development, mainly in Burundi. From the System GMM model, it is confirmed that HDI, life expectancy, and GNI per capita significantly explain economic freedom. The findings show that though economic freedom and increase in income are important for development, governance, education, and healthcare reforms are fundamental for ensuring that growth in the region is inclusive and sustainable
Exploring the role of social enterprises in improving local development in the Philippines : DOCHSEi’s case
Full text linkThis research investigates the role of social enterprises in fostering local development in the Philippines, with a particular focus on the Davao Oriental Coco Husk Social Enterprise, Inc. (DOCHSEi). The study aims to elucidate how social enterprises, especially those in which the poor are principal stakeholders (SEPPS), contribute to economic, social, and environmental development at the local level. Employing a case study methodology combined with qualitative analysis of secondary data, the paper examines DOCHSEi’s initiatives in transforming coconut husk waste into value-added, eco-friendly products, thereby creating employment opportunities for marginalized groups and promoting sustainable community development.Key findings reveal that DOCHSEi significantly contributes to local development by generating jobs, reducing poverty, empowering women and youth, and mitigating environmental degradation through innovative waste management. The enterprise’s activities have enhanced social inclusion, increased household incomes, and provided a model for sustainable, community-led economic growth. However, the research also identifies critical challenges, including limited access to financing, regulatory hurdles, and the need for greater ecosystem support.The study concludes that social enterprises like DOCHSEi are vital catalysts for inclusive growth and poverty alleviation in the Philippines. It underscores the importance of multi-stakeholder collaboration, policy support, and sustainable business models in scaling the impact of social enterprises. The findings offer valuable insights for policymakers, development practitioners, and social entrepreneurs seeking to leverage social innovation for local development
Challenge of Adapting Marketing Concepts and Tools to The Territory
Full text linkThis research paper investigates the necessity and process of adapting traditional marketing concepts and tools to the unique context of territories, aiming to enhance their attractiveness for targeted groups at both national and international levels. The study posits that the distinctive characteristics of territories require specific adaptations of marketing strategies to achieve effective positioning and competitiveness. Through a theoretical analysis of territorial marketing principles—including brand adaptation and investor relationship management—the research explores how coordinated collaboration among territorial actors strengthens a territory’s competitive edge. Key findings highlight the importance of tailored territorial offers, cohesive stakeholder engagement, and the strategic use of both tangible and intangible assets. The paper contributes an actionable framework for building strong territorial identities and underscores the significance of continuous relationship management with investors for sustainable development. The results affirm that successful territorial marketing not only boosts economic performance but also cultivates community belonging and long-term investor loyalty
Advancing Corporate Credit Risk Assessment in Emerging Markets: A Comparative Analysis of Machine Learning Classifiers in South Africa
Full text link This study examines the predictive power of machine learning techniques in corporate credit rating assessment using firm-level financial data from 208 companies across three key sectors in South Africa. By employing statistical models alongside advanced classifiers, including logistic regression, support vector machines, random forest, decision trees, k-nearest neighbors, and XGBoost, the analysis evaluates model performance using accuracy, sensitivity, specificity, precision, and the Matthews correlation coefficient. The empirical design incorporates financial ratios capturing liquidity, solvency, profitability, and efficiency, thereby aligning predictive analytics with established financial theory. Results demonstrate that while traditional models provide a baseline framework, ensemble and kernel-based methods deliver superior classification accuracy, particularly when sectoral heterogeneity is considered. These findings underscore the growing role of artificial intelligence in improving credit risk assessments, enhancing financial inclusion, and supporting regulatory oversight in emerging markets. The study offers theoretical contributions to credit risk modeling and provides policy recommendations for integrating explainable machine learning into financial supervision and lending practices
Accounting Conservatism in Financial Technology: Theoretical Foundations, Applications, Benefits, and Challenges
Full text linkThis paper examines the evolving role of accounting conservatism in the FinTech-driven transformation of the banking sector, focusing on Banca Comercială Română (BCR) as a case study. Rooted in prudence and verification principles, accounting conservatism remains a key mechanism for mitigating risk and enhancing the reliability of financial reporting. As BCR continues its digital transformation through online banking, mobile payments, and blockchain-based transaction verification, the interaction between technological innovation and conservative accounting practices becomes increasingly complex. Using data from 2020 to 2023, this study finds that BCR’s adoption of conservative provisioning and prudent asset valuation contributed to a 21% reduction in digital loan default rates and a 30% improvement in transparency indicators. However, the study also identifies challenges arising from automation, regulatory adaptation, and potential over-conservatism that may slow innovation. The findings highlight the importance of conditional and adaptive conservatism as a balanced framework to sustain financial stability and investor confidence in rapidly digitalizing financial markets
The role of quantitative methods in analyzing competition through quantities :A case study of OPEC and non-OPEC
Full text linkThis study aims to examine the type and degree of competition between OPEC and non-OPEC countries based on production volumes during the period from 1965 to 2023, using important quantitative tools. The study reached the following conclusions :The market share of non-OPEC countries is 1.5 times larger than that of OPEC countries on average .The volatility of OPEC countries' elasticity is greater than the volatility of non-OPEC countries' elasticity .The results of the VAR model showed a negative (positive) relationship between the production quantity of OPEC and non-OPEC countries, with an impact size of -0.32 (0.35). However, the production of non-OPEC countries does not significantly affect the production of OPEC countries .The Granger and Toda-Yamamoto tests proved the existence of a unidirectional causal relationship, specifically from OPEC countries' production to non-OPEC countries' production
Islamic Finance Industry and Fintech: A Comparative Analysis
Full text linkThis article examines the effects of fin-tech on Islamic finance in both OIC and non-OIC countries. It finds that Islamic finance grows faster in OIC countries due to supportive regulations, while fin-tech enhances accessibility and efficiency in non-OIC countries. The research underscores the importance of regulatory frameworks in optimising fintech's impact. Though it relies on existing data, the study offers useful insights for policymakers and financial institutions. This emphasises the capacity of fin-tech to enhance financial inclusivity and promote socio-economic progress.The research stands out for its comparative methodology, which offers fresh perspectives on the interplay between fin-tech and Islamic finance across different regional contexts.