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Book part
Publication date: 23 May 2023

Ramesh Chandra Das

With the aim of analysing the growth and developmental aspects of bank credit allocations in the selected countries, the primary requirements are to see the trends of the lead…

Abstract

With the aim of analysing the growth and developmental aspects of bank credit allocations in the selected countries, the primary requirements are to see the trends of the lead variables, credit, gross domestic product (GDP) and Human Development Index (HDI), and get ideas on the descriptive statistics. The present chapter has attempted to do all these primary analyses across the countries for the period of 1990–2019. The study observes that the levels of GDP have increased for all the countries throughout the entire period with some downhill breaks during the global financial crisis of 2007–2009. There are also similar types of upward trends in the credit delivery to the private sectors of the countries over time with some exceptions in the second phase (2001–2010) for Germany and the first phase (1990–2000) for Brazil. On the other hand, the HDI values for all the countries have improved over time in the entire period of time and the developing countries in the list have progressed more in all three indicators, GDP, credit and HDI, compared to that of the developed countries in the list. The correlation analysis of credit with GDP and HDI shows positive coefficients in many of the developed and developing countries which primarily justify the existence of strong linkages of their financial sectors with their real sector and overall development.

Details

Growth and Developmental Aspects of Credit Allocation: An inquiry for Leading Countries and the Indian States
Type: Book
ISBN: 978-1-80382-612-7

Keywords

Abstract

Details

Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Book part
Publication date: 23 May 2023

Ramesh Chandra Das

The literature on sustainable development reveals that the financial sector and the real sector should maintain a coherent association in the long run. Thus, like that in a…

Abstract

The literature on sustainable development reveals that the financial sector and the real sector should maintain a coherent association in the long run. Thus, like that in a country-level significance, the relevance of the investigations of the interrelationships between the financial sector’s development and the growth and development of the states within a country is also required to be done. This chapter tries to examine the interrelationships between two sets of variables, bank credit and state output, and bank credit and human development, for the pre-reform and post-reform periods. Using the appropriate time series econometric analysis, the study finds no long-run relationships between credit and NSDP during the pre-reform period but it has observed a number of states where such stable relations hold during the post-reform period. Again, there are mixed results between the two in the Granger causality analysis during both the periods. There are the states like AP, Bihar, Karnataka, Kerala and WB where developments in the financial sector influence the growth of the real sector, while the reverse causality, that is, from the real sector to the financial sectors works in case of Assam, Haryana, MP and Maharashtra. Bidirectional causality between the two is observed in the states like TN, WB, etc. Further, the study finds very small number of states where credit and human development are interlinked in the long run. However, in the short run, the financial sector makes influences to the human development in case of the states like Bihar, Odisha and TN.

Details

Growth and Developmental Aspects of Credit Allocation: An inquiry for Leading Countries and the Indian States
Type: Book
ISBN: 978-1-80382-612-7

Keywords

Open Access
Article
Publication date: 8 August 2022

Radwa Ahmed Abdelghaffar, Hebatalla Atef Emam and Nagwa Abdallah Samak

The purpose of this study is to investigate the nexus between financial inclusion and human development for countries belonging to different income groups during 2009–2019, and…

3232

Abstract

Purpose

The purpose of this study is to investigate the nexus between financial inclusion and human development for countries belonging to different income groups during 2009–2019, and whether this relation differs across these groups.

Design/methodology/approach

The paper constructs an index of financial inclusion (IFI) for different income group countries employing dynamic panel data models estimated by generalized method of moments (GMM) to analyse the relation between financial inclusion and human development.

Findings

Financial inclusion in low and lower-middle-income countries has higher effect on human development than in high and upper-middle income countries.

Research limitations/implications

The study examines the effect of IFI on the human development index (HDI) at the aggregate level. Future research can tackle the IFI effect on every component of HDI and other aspects of financial inclusion could be incorporated like financial technology.

Originality/value

The originality lies in constructing an index for financial inclusion using the most recent data for a wide range of countries, in addition to examining the impact of financial inclusion on the human development levels of different income groups allowing for more accurate analysis tackling the differences in terms of adopted policies across various income groups; unlike other studies that are carried out on a one country basis or only across one or two country groups that do not allow for comparison across various groups of countries.

Details

Journal of Humanities and Applied Social Sciences, vol. 5 no. 3
Type: Research Article
ISSN: 2632-279X

Keywords

Book part
Publication date: 23 May 2023

Ramesh Chandra Das

Sequel to the results of the preceding chapter that depicted positive associations of credit with the indicators of growth and development, the present chapter aims at…

Abstract

Sequel to the results of the preceding chapter that depicted positive associations of credit with the indicators of growth and development, the present chapter aims at investigating the interrelationships of credit with GDP and HDI separately in a bivariate framework for the selected countries for the period 1990–2019. For this purpose, this chapter first develops a theoretical model in line with the Barro (1991) model where bank credit is introduced as a good institutional component of endogenous growth. Then, it goes for a time series exercise to establish the long-run relations and short-run dynamics for the pairs of variables, credit-GDP and credit-HDI, to justify the linkages between the financial sector and the real sector. The study arrives at mixed results across the countries. In many cases, credit has been identified to be strongly related to income and development indicators in the long run through cointegrated stable relationships. Furthermore, credit makes a causal influence on GDP and HDI in some developed countries whereas GDP becomes a causal factor to credit in some developing countries. It is thus recommended for further aggravation of the two sectors’ linkages under the patronisations of the governments and the monetary authorities of the countries to have high growth of income and development so that a part of the sustainable development goal can be achieved through the financial sector.

Details

Growth and Developmental Aspects of Credit Allocation: An inquiry for Leading Countries and the Indian States
Type: Book
ISBN: 978-1-80382-612-7

Keywords

Content available
Book part
Publication date: 23 May 2023

Ramesh Chandra Das

Abstract

Details

Growth and Developmental Aspects of Credit Allocation: An inquiry for Leading Countries and the Indian States
Type: Book
ISBN: 978-1-80382-612-7

Open Access
Article
Publication date: 16 June 2021

Amira Mohamed Emara and Nashwa Mostafa Ali Mohamed

This paper aims to investigate the relationship between global economic fluctuations and human development through four transmission channels (foreign direct investment (FDI)…

1896

Abstract

Purpose

This paper aims to investigate the relationship between global economic fluctuations and human development through four transmission channels (foreign direct investment (FDI), official development aid (ODA), remittances and export earnings) in Egypt as an open developing economy, in the period 1990–2015.

Design/methodology/approach

The paper uses a vector autoregressive model, which implies examining the impulse response functions and variance decompositions.

Findings

The results indicate that human development is negatively affected by global economic fluctuations through the four channels, namely, ODA, FDI, export earnings and remittances. In addition, the most effective transmission channels are FDI in the short run and export earnings in the long run.

Originality/value

While a large body of literature addresses the direct impact of business cycles and economic shocks on human development, only some studies focus on the indirect impact. The contribution is to identify the indirect impact of global economic fluctuations on human development in a developing economy, considering four transmission channels and to determine the most important of these channels. Moreover, using the human development index is an addition in this paper as most previous literature depends on other human development indicators such as children’s health, employment and schooling.

Details

Review of Economics and Political Science, vol. 8 no. 4
Type: Research Article
ISSN: 2356-9980

Keywords

Book part
Publication date: 19 July 2023

Chandrima Chakraborty and Abhijit Maity

The assertions of the government that poverty eradication and social development generally are the main challenges and that it is fully committed to address these issues have…

Abstract

The assertions of the government that poverty eradication and social development generally are the main challenges and that it is fully committed to address these issues have continued over time. But how genuine this claim is a matter of great concern. So, this chapter may be an attempt to analyze patterns in social sector expenditure on education (SSEE) and its impact on Human Development Index (HDI) among different states in India. The combined social sector expenditures (SSE) of Centre and States, which provide the best picture of India’s commitment towards the social sector in education, may be assessed. There are diverse ways of inspecting the trends in expenditures. Firstly, to look at SSE as a proportion of gross state domestic product (GSDP), secondly is to calculate SSE as percentage of aggregate budget expenditure, thirdly is to look at the real per capita expenditure (PCE) (at constant prices) for the social sector in the case of the states. This chapter looks at the trends in SSEE, considering all the alternative ways and the impact of SSEE on HDI. The result of the study shows that there is a positive relationship between SSEE and HDI. SSEE may lead to increases in gross enrolment ratio (GER) and literacy rate (LR). An increase in GER and LR may help in increasing the HDI.

Details

Inclusive Developments Through Socio-economic Indicators: New Theoretical and Empirical Insights
Type: Book
ISBN: 978-1-80455-554-5

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Abstract

Details

Social Sector Development and Inclusive Growth in India
Type: Book
ISBN: 978-1-83753-187-5

Article
Publication date: 31 January 2024

Samuel Mongrut, Luis Berggrun, Klender Cortez Alejandro and Martha del Pilar Rodríguez García

The study aims to examine the impact of intellectual and social capital in funding businesses.

Abstract

Purpose

The study aims to examine the impact of intellectual and social capital in funding businesses.

Design/methodology/approach

The study made use of fixed-effects panel data models with a sample of 142 countries from the five continents during the period 1998–2018.

Findings

It was found that human capital (HC), relational capital, structural capital and social capital play a role in investors’ decisions to fund a business. The study revealed that investors’ funding decisions in low human development index countries are based mainly on education, while those in high human development index countries are based mainly on the creativity component of HC and on relational, structural and social capital.

Research limitations/implications

The study needs to be replicated using firm-level data within each country. Moreover, the search for new proxies for intellectual and social capital (although the list of variables is exhaustive) both at the country and firm level, constitutes an interesting avenue for future research.

Practical implications

Countries should pay attention to intellectual and social capital to encourage business activity. In particular, low human development countries should strengthen HC, such as the school enrollment rate, with early entrepreneurial training and increase research and development investments, while high human development countries should continue to foster strategic alliances, protect intellectual property and maintain or increase the level of trust in the country.

Originality/value

The study contributes to literature by being the first to explore such a variety of intellectual and social capital variables from a country-level perspective.

Objetivo

El estudio tiene como objetivo examinar el impacto del capital intelectual y social en la financiación de las empresas.

Diseño/metodología/enfoque

Utilizamos modelos de datos de panel de efectos fijos con una muestra de 142 países de los cinco continentes durante el periodo 1998-2018.

Resultados

Encontramos que el capital humano (CH), el capital relacional, el capital estructural y el capital social juegan un papel en las decisiones de los inversionistas para financiar un negocio. Encontramos que las decisiones de financiamiento de los inversionistas en los países con bajo índice de desarrollo humano se basan principalmente en la educación, mientras que las de los países con alto índice de desarrollo humano se basan principalmente en el componente de creatividad del CH y en el capital relacional, estructural y social.

Limitaciones/implicaciones de la investigación

Sugerimos replicar el estudio utilizando datos a nivel de empresa dentro de cada país. Por otra parte, la búsqueda de nuevos indicadores de capital intelectual y social (aunque nuestra lista de variables es exhaustiva) tanto a nivel de país como de empresa, constituye una vía interesante para futuras investigaciones.

Implicaciones prácticas

Los países deben prestar atención al capital intelectual y social para fomentar la actividad empresarial. En particular, los países con bajo desarrollo humano deberían fortalecer el CH, como la tasa de matriculación escolar, con una formación empresarial temprana y aumentar las inversiones en investigación y desarrollo, mientras que los países con un alto nivel de desarrollo humano deberían seguir fomentando las alianzas estratégicas, proteger la propiedad intelectual y mantener o aumentar el nivel de confianza en el país.

Originalidad/valor

El estudio contribuye a la literatura al ser el primero en explorar tal variedad de variables de capital intelectual y social desde una perspectiva a nivel de país.

Details

Academia Revista Latinoamericana de Administración, vol. 37 no. 1
Type: Research Article
ISSN: 1012-8255

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