634 research outputs found
Financing of Sustainable Development Goals (SDGs): Challenges and Opportunities
No full textNoThe economic and social impact of Covid-19 pandemic both on developing and developed countries has been significant. In addition to the impact of the pandemic, the current Ukraine war has also led to severe supply chain disruptions leading to a sharp increase in food and commodity prices globally. Due to a combination of external shocks and the impact of the pandemic, global economic growth slowed down and is projected to continue to decline. The above factors have led to a sharp increase in government expenditure constraining both developed and developing countries' fiscal capacity. This has further implications for the achievement of SDGs, especially for low-income countries. The challenge for developing countries in the current scenario is to mobilize adequate resources both from domestic and international sources, not just for the achievement of SDGs as such, but also to sustain the livelihoods, health, and welfare of people. This book aims to examine some of these issues in the context of developing countries
Financial Development, Human Capital and Economic Growth: The Indian Case
No full textYesAlthough at the national level the relationship between financial development, human capital and economic growth has received some attention, this is largely an under-researched area at the sub-national level. Human capital may impact economic growth through the channel of innovation and along with financial development could be complementary or substitute in their relationship to economic growth. Also, human capital investment, enabled by the financial sector development, not only affects growth but also directly and indirectly affects poverty reduction through the channel of growth. In this study we examine the interaction between financial development, human capital and economic growth at the sub-national level using panel datasets covering 23 states of India for the period 1999-2013. Our analysis suggests that there is evidence of positive relationship between human capital and financial development to economic growth
The links between financial inclusion and financial stability: A study of BRICS
No full textyesIn recent years financial inclusion has become an important policy goal in the developing countries. The definition of financial inclusion is however, not clear and varies from ‘banking the unbanked’ to ‘branchless banking’. It is also increasingly viewed as a tool of poverty alleviation. Further, it enables the poor to be risk averse and allows investment in their health and education (Arora 2012). Financial inclusion has become all the more important as studies have shown that poor, despite their low incomes and small amount of funds available, actively manage and diversify their portfolios into different financial products even though outside the formal financial system (Collins et al. 2009)
Challenges for regionalism in South Asia: The role of institutions and human development
No full textYesA large body of literature exists in the area of trade integration in various regions of the world (for instance Mongelli, Dorrucci & Agur 2005 for EU; Chen and Nory 2011 for EU; Bouet, Cosnard & Laborde, 2017 for Africa, Athukorala & Yamashita 2006 for East Asia; Bussiere, Fidrmuc and Schnatz 2005 for Central and Eastern European countries). However, not much literature is available on South Asia trade and economic integration.
Intra-regional trade just formed only 5% (in absolute terms 23$ billion) of South Asia’s total trade in comparison with the ASEAN region (25%) (World Bank). This is indeed perplexing as the countries within the region even
though heterogeneous in terms of size and governed by different political ideologies, yet share similar cultural and historical closeness, high level of poverty and low level of human development (Arora and Ratnasari 2014).
Among the factors influencing low formal intra-regional trade are high trade barriers, high level of mistrust among the countries leading to several conflicts especially between India and Pakistan. This chapter examines some of
these issues and especially examines the association between low human development, institutional development and regional integration
Determinants of Financial Inclusion in Developing Countries
No full textFinancial inclusion—enhancing participation in formal financial system—has received attention from policymakers globally, particularly over the past two decades. Based on the proposition that financial inclusion is a multidimensional concept, with access and usage and efficacy as its three dimensions, the research objective in this chapter is to identify the key determinants of financial inclusion in developing countries. Using a large cross-country sample of developing economies, over a 14-year period from 2004 to 2017, findings suggest that physical access to banking services, advances in financial technology, government effectiveness and rural population are significantly associated with financial inclusion and should be the principal focus of policy initiatives. Sub-sample analysis shows considerable differences in the key determining factors of financial inclusion across six regions and three income groups
The Impact of External Shocks on Nigeria’s GDP Performance within the Context of the Global Financial Crisis
No full textThis research examines the impact of external shocks on Nigeria’s output performance for the period 1981 – 2015. It aims to bring to the fore the importance of considering external shocks during policy design and implementation. The multivariate VAR and VECM frameworks were used to evaluate the impact of the shock variables on Nigeria’s output performance and to achieve the stated objectives. Findings show that the external shock and domestic policy variables have short-run effects on Nigeria’s output performance. Also, all the measures of external shocks and domestic policies display some viable information in explaining the variabilities in Nigeria’s output performance over the horizon. The comparison between the results of the VECM and the unrestricted VAR shows that the unrestricted VAR model outperformed the VECM.
The overall result of the study confirms the view about the vulnerability of the Nigerian economy to external shocks. These shocks explain more than half of the variance in real output performance and have varying effects on output performance in Nigeria. The dynamic response of output performance to each of the defined shock variables show that output performance responds rapidly to the shock variables, while its response to the domestic economic variables is seemingly moderate. Finally, the variance decomposition show that international crude oil price and terms of trade have the largest share in accounting for the variability in output performance, followed closely by the shares of capital inflows and monetary policy
An Investigation into the Role of Local Government in Enhancing the Public Participation in Sindh, Pakistan: Policy and Practice in Service Delivery
No full textIt is generally recognised that the primary role of the decentralise local
governance is to establish closer relationship between rural communities and the
governing authorities in local development. In Pakistan, the system of local
governments has always been introduced by the non-democratic forces. The
decentralised governments have often been discontinued by the civilian
governments of Pakistan.
This study has sought to examine the role of the decentralised local governance
in initiating the local community participation in local development in the province
of Sindh, Pakistan. This thesis responds the questions about the initiatives taken
by the local government authorities and the genuine local community participation
in local community development programs. It further explores the main barriers
to local public participation in the local policy making and implementation in
Sindh.
The findings suggest that the challenges to participation have been ever
increasing. The military establishment’s hold on the central state policies has
weakened the public empowering national laws. Furthermore, the local
government’s role to initiate meaningful local community involvement in
development projects of the decentralised local governance has been engrossed
by the hold of feudal lords, corruption, favouritism, and the attitude of indifference
on the part of provincial and national governments. Thus, it is argued that, in such
dominant military state and feudal lords’ system, there is no positive link between
the local government reforms and the democratic participation in the local
decision-making. Based on these findings, a realistic model for participation is
introduced and relevant implications are considered
Domestic Public Debt and Private Sector Credit in Nigeria: Does Sectoral Impact Matter?
No full textThis study investigates the importance of sectoral effects in the domestic public debt-private sector credit nexus in Nigeria from 1981-2020 and finds that sectoral effects are essential for domestic public debt and private sector credit in Nigeria. Aggregated credit to the private sector and disaggregated credit to the manufacturing, agriculture, mining and quarry, real estate and construction, trade and general commerce, and services sectors responds heterogeneously to changes in domestic public debt, with the credit channel as the transmission channel at both levels. Domestic public debt crowds out aggregated credit to the private sector and in all sub-sectors at the disaggregated level except the agriculture and mining and quarry sectors, where there are crowding in and an uncertain effect. Also, domestic public debt has a threshold effect on aggregated credit to the private sector and credit to the trade and general commerce sector, with higher level of domestic public debt-to-GDP ratio having detrimental effects on credit. The study, therefore, shows that a healthy and robust banks’ balance sheet is important for increased lending to the private sector in Nigeria and recommends that the government should imbibe policies that promote investment friendly environment to mitigate incidences of loan defaults, thereby making the private sector less risky for domestic bank lending. Also, a framework for mobilising and properly channeling the under-utilised funds of the household sector should be developed and encouraged for increased private sector lending, while ensuring that domestic public debt stock growth does not surpass its optimal GDP threshold
The relationship between financial inclusion, economic growth and poverty: A study of Jordan
No full textThis thesis empirically investigates the relationship between financial inclusion, economic growth and poverty in Jordan during the period 1980-2020. The study argues that providing financial services to individuals is an effective way to enhance economic growth and reduce poverty. It investigates the access to and usage of financial services in Jordan. This study applies the Autoregressive Distributed Lag (ARDL) model to examine the annual time-series data collected from the CBJ, World Bank, and IMF. The Augmented Dickey Fuller test is used to test the stationarity of variables used in the ARDL model.
The study shows that financial inclusion has a significant positive effect on economic growth. Moreover, the study also indicates that financial inclusion has a significant positive effect on income per capita, which reduces poverty. Finally, the outcome shows that economic growth enhances financial inclusion.
Consequently, the study confirms finance and growth theory, which asserts that financial services are a positive function of economic growth and reduce poverty. Consequently, this study recommends that extending and enhancing financial inclusion in Jordan needs to be afforded greater effort due to its positive effect on the Jordanian economy generally and on economic growth specifically.Mut’ah University (Jordan
Ideas for rent: an overview of markets for technology
No full textThis article surveys some of the recent literature on technology markets, and summarizes its main issues and insights. We structure our analysis in three parts: the supply and demand of technology; the factors that condition the formation and growth of technology markets; industry structure and dynamic issues. In addition, we summarize some of the studies that have tried to document the size and growth of these markets. We find that the literature has focused mainly on the supply of technology, but several other aspects of these markets remain under-studied, including the demand for external technology, the role of uncertainty in technology markets, and the dynamic interaction between industry structure and the market for technology. Understanding these will illuminate whether markets for technology will continue to grow or remained confined to pockets of the economy. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.
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