Search results

The Sustainable Development Goal (SDG) 16 outlines sustainability as associated with peace, good governance and justice. The perception of international tourists about security measures and risks is a key factor affecting destination choices, tourist flow and overall satisfaction. Thus, we investigate the impact of armed forces personnel, prices, economic stability, financial development and infrastructure on tourism.

This research used data from 130 countries from 1995 to 2019, which were divided into four income groups. This study employs a two-step generalized method of moments (GMM) technique and a novel tourism index comprising five relevant indicators of tourism.

A 1% increase in armed forces personnel expands tourism in all income groups – 0.369% High Income Countries (HICs), 0.348% Upper Middle Income Countries (UMICs), 0.247% Lower Middle Income Countries (LMICs) and 0.139% Low Income Countries (LICs). The size of the tourism-safety coefficient decreases from high to low-income groups. The impact of inflation is significantly negative in all panels, excluding LICs. The reduction in tourism was 0.033% in HICs, 0.049% in UMICs and 0.029% in LMICs for a 1% increase in prices. The increase in the global tourism index is more in LICs (0.055%), followed by LMICs (0.024%), UMICs (0.009%) and HICs (0.004%) for a 1% expansion in the gross domestic product (GDP)/capita growth. However, the magnitude of the growth-led tourism impact is greater in developing countries. A positive impact of foreign direct investment (FDI) inflow was found in all panels like 0.016% in HICs, 0.050% in UMICs and 0.119% in LMICs for a 1% increase in FDI inflow. The rise in the global tourism index is 0.097% (HICs), 0.124% (UMICs) and 0.310% (LMICs) for a 1% rise in the financial development index. The increase in the global tourism index is 0.487% (HICs), 0.420% (UMICs) and 0.136% (LICs) for a 1% rise in the infrastructure index.

Empirical analysis infers important policy implications such as (a) establishment of a peaceful environment via recruitment of security personnel, use of safe city cameras, modern technology and law enforcement; (b) provision of basic facilities to tourists like sanitation, drinking water, electricity, accommodation, quality food, fuel and communication network and (c) price stability through different tools of monetary and fiscal policy.

First, it explains the effect of security personnel on a comprehensive index of tourism instead of a single variable of tourism. Second, it captures the importance of economic stability (i.e., economic growth, financial development and FDI inflow) in the tourism–peace nexus.

China's Belt and Road Initiative (BRI) is the most ambitious investment strategy for infrastructural development belonging to the significant potential for stimulating regional economic growth in Asia, Europe and Africa. This study aims to investigate the impact of infrastructure on spurring inward foreign direct investment (FDI) within the purview of human capital, GDP per capita, foreign aid, trade, domestic investment, population and institutional quality in BRI countries.

In doing so, the authors analyze panel data from 2000 to 2019 within the framework of the system generalized method of movement (GMM) approach for 66 BRI countries from Europe, Asia, Africa and the Middle East.

The investigated results demonstrate that aggregate and disaggregate infrastructure indices, e.g. transport, telecommunications, financial and energy infrastructures, are the driving forces in attracting foreign direct investment (FDI) in the BRI countries. In addition, control variables (i.e. institutional quality, human capital, trade, domestic investment, foreign aid and GDP per capita) play an essential role in spurring FDI inflows.

The authors’ study uniquely investigates both the pre- (2000–2012) and post- (2013–2019) BRI scenarios using the aggregate and disaggregate infrastructural components from the perspectives of full and clustered sample regions, such as Asia, Europe, Africa and the Middle East. The study provides several policy implications.

Quite often than not, a new industry can be created, thanks to the countless entrepreneurs and innovative activities across the globe. Smart city (SC) is one such industry and a living lab using the key roles of the digital platform that enable a seamless flow of information and knowledge for innovation within the SC. The purpose of this paper is to illustrate how SC can be a new regional industry engine through an “open collective innovation system” as its new concept. In particular, SC provides efficient transaction costs and knowledge flows. Eventually, SC can be an innovation hub for entrepreneurship through openness.

To frame the research goals, the authors used qualitative research methodologies based on grounded theory. In particular, the author used inductive reasoning to generate arguments and conclusions about the future of an SC as a new growth engine in the era of the fourth industrial revolution. Numerous documents and prior literature were used for the preliminary conceptualization of an SC. Interview data were then coded for reasoning in an open collective innovation system based on “openness”.

SC maximizes efficiency in practicing innovation. In the perspective of innovation costs, SC can minimize transaction costs, specifically the information processing costs, through data openness. In this context, transaction costs can be considered an economic equivalent of friction in a physical system. So, as the friction is low, some movements of an object on the surface are likely to be easy. SC is optimized for innovation activities through an “open collective innovation system”. In terms of innovation networks, an SC results in an innovation efficiency derived from both the network and the spatial agglomerations in physical and cyberspace. The efficiency-based SC itself overlaps knowledge creation, dissemination and absorption, providing an open innovation (OI) ecosystem.

This paper remarkably extends that SC can be an “open collective innovation system model” and a new conceptualization. Eventually, SC will play a crucial role in developing regional industries as a new growth engine. To operate as a new growth engine fully-fledged, the SC is needed to accumulate innovative assets such as the critical mass of residents, numerous firms, etc. However, this study has some limitations. First, difficulties in any analytic approach to SC resulted from their many interdependent facets, such as social, economic, infrastructural and spatial complex systems, which exist in similar but changing forms over a huge range of scales. Also, this research is at a quite an early stage. Thus, its theoretical stability is weak. So, this paper used the qualitative methodology with a grounded theory. Another limitation is in the research methodology. The limitation of using grounded theory adapted by this work is that the results of this study may not be generalizable beyond the context of this study. This non-generalizability occurs because ours is an inductive approach to research, meaning that the findings are based on data collected and analyzed. As such, the results of this study may not be applicable to other contexts or situations. In addition, the analysis of data in the grounded theory is based on researcher’s subjective interpretations. This means that the researcher’s own biases, preferences and assumptions may influence the results of the study. The quality of the data collected is another potential limitation. If the data is incomplete or of poor quality, it can cause researcher’s own subjective interpretations.

Findings of this study have some practical implications for enterprises, practitioners and governors. First, firms should use value networks instead of value chains. Notably, the firms that pursue new products or services or startups that try to find a new venture business should take full advantage of SC. This taking advantage is possible because SC not only adapts state-of-the-art information technology (e.g. sensor devices, open data analytics, IoT and fiber optic networks) but also facilitates knowledge flow (e.g. between universities, research centers, knowledge-based partner firms and public agencies). More importantly, with globalized market competition in recent years, sustainability for firms is a challenging issue. In this respect, managers can take the benefits of SC into consideration for strategic decisions for sustainability. Specifically, industrial practitioners who engage in innovation activities have capabilities of network-related technologies (e.g. data analysis, AI, IoT and sensor networks). By using these technologies in an SC, enterprises can keep existing customers as well as attract potential customers. Lastly, the findings of this study contribute to policy implementation in many aspects. At first, for SC to become a growth engine at regional or natural levels, strong policy implementation is crucial because SC is widely regarded as a means of entrepreneurship and an innovation plaza (Kraus et al., 2015). To facilitate entrepreneurship, maker spaces used for making the prototypes to support entrepreneurial process were setup within universities. The reason for establishing maker spaces in universities is to expand networking between entrepreneurs and experts and lead to innovation through a value network. One of the policy instruments that can be adapted is the “Data Basic Income Scheme” suggested by this research to boost the usage of data, providing content and information for doing business. Also, a governor in SC as an intermediator for the process of the knowledge flow should initiate soft configuration for SC.

This work makes two theoretical contributions to OI aspects: (1) it explores dynamic model archetypes; and (2) it articulates and highlights how SC with digital technology (i.e. in the AI, IoT and big data context) can be used to create collective knowledge flow efficiently. First, the findings of this study shed light on the OI dynamic model. It reveals important archetypes of new sub-clustering creation, namely, a system that underpins the holistic process of innovation by categorization in amongst the participating value network (Aguilar-Gallegos et al., 2015). In innovation studies, scholars have particularly paid attention to a cluster’s evolution model. In the process of innovation, the “open innovation dynamic model” suggested by this study illustrates sub-clustering that happens in value networks by taking the benefits of SC. Eventually, the evolution or development of sub-clusters can bring in a new system, namely, an OI system. Second, the findings of this study contribute to the understanding of the role of digital technologies in promoting knowledge flow. The usage and deployment of digital technologies in SC may enormously and positively influence innovative activities for participants. Furthermore, the rising of digital economy, in the so-called platform business, may occur depending on advanced technologies and OI. In doing so, the findings can further tow innovation research through juxtaposition between SC and innovation research (Mehra et al., 2021).

This paper shows that the function of an SC not only improves the quality of life but also acts as an engine of new industry through an open collective innovation setting using dynamic and ecological models.

The aim of this study is to understand the environmental benefits and economic savings associated with adoption of circular economy in the construction sector. The research findings will support different stakeholders and decision makers to develop business models based on responsible consumption of resources and build sustainable business models.

The research uses mixed methodology wherein inventory for life cycle assessment and life cycle costing for environmental and economic impacts is based on primary data using on-site visits for qualitative and quantitative data.

Different types of land transportation infrastructures are compared for their environmental impacts. It is found that bridges have the highest environmental impacts as compared to tunnels, roads and railways. Further, the results affirm the environmental and economic benefits of adopting circular economy practices.

This is one of a kind research that compares the environmental and economic tradeoffs of adopting circular economy in different types of land transportation infrastructures.

The Central Bank of Nigeria (CBN) recently relaunched Nigeria’s cashless policy initiative which seeks to reduce financial crime and tax avoidance, decrease cash dependency, advance the adoption of digital financial services (DFS), decrease the risks to the payment system and foster financial inclusion. This study aims to identify the unique challenges of going cashless in Nigeria, particularly in terms of infrastructural, exclusionary and cost implications of the policy on the average citizens.

The author applies a doctrinal research methodology to identify and reflect on key challenges of the cashless policy from the economic, regulatory and transactional perspectives.

The cashless policy initiative in Nigeria heralds value for financial integrity, financial policy regulation and user convenience. The mode of introduction, however, ushers in significant challenges and hardly considers Nigeria’s inadequate payment infrastructure, persistent financial exclusion, low levels of financial and digital literacy and capability, high cost of using DFS and pervasive proclivity for cash. As Nigerians adjust albeit inconveniently to the policy, the CBN can ameliorate the hardship by strengthening the payment infrastructure, particularly for digital payments, fostering consumer trust by safeguarding user funds and enabling consumer preferences.

Research materials include the national regulator’s policy documents and newspaper articles that have not been published in formal reports but non-the-less adequately mirror the policy intention of the CBN and the lived experiences of Nigerians.

This study identifies the practical steps and regulatory measures that the CBN can take to improve acceptance and meaningful and sustainable adoption of the cashless policy by the majority of Nigerians.

The recommendations that are proffered provide some rich insights to inform regulatory direction for the CBN to seamlessly phase-in the cashless policy and consequently drive down financial exclusion in Nigeria.

This study contributes to the policy discussion around the introduction of the cashless Nigeria project. The doctrinal research method highlights the policy intentions of the regulator in juxtaposition with lived experiences of Nigerians. This study offers recommendations to bolster financial inclusion, stability and integrity.

This study aims to provide an empirical investigation into rising capital flight and the role of institutional quality to mitigate its effect on the real sector in sub-Saharan Africa (SSA).

The study uses the system generalized method of moments and uses data spanning from 1989 to 2020 from 26 SSA countries.

The findings show that capital flight has no direct impact on the real sector while institutional quality adversely impacted the agricultural and industrial sectors. The study also found that institutional quality is unable to mitigate the effect of capital flight on the industrial sector.

This study investigates if institutional quality mitigates the impact of capital flight on the real sector proxied by industrial value-added and agriculture value-added.

This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.

In total, 28 African countries were analyzed from 2000 to 2020 using the generalized method of moment regression method. An inclusive growth index was developed using the principal component analysis (PCA) method. The PCA-derived index incorporates factors such as poverty, income inequality, economic participation and per capita income.

The main findings suggest that fiscal space availability (de facto fiscal space and fiscal balance) promotes inclusive growth. The study also showed that lagged inclusive growth, digitalization and governance indicators positively influence inclusive growth. The study concludes that fiscal space availability fosters inclusive growth, but this effect is mediated by governance quality in Africa.

Several studies examined the role of fiscal policy on inclusive growth. However, it is crucial to assess the fiscal space, that is, the financial capacity of the government to implement its fiscal policy without harming its financial stability. This paper, therefore, contributes to the existing literature by using de facto fiscal space indicator to comprehend fiscal dynamics contributing to inclusive growth. In addition, the paper uniquely constructs an inclusive growth index by including poverty severity, which considers both the incidence and depth of poverty and inequality in society.

The level of deterioration of educational facilities, such as leaking classroom roofs, inadequate good seats, obsolete offices, broken shutters and doors, outdated school buildings, power plants and office equipment like ICT media, laboratories, offices and workshops, despite the involvement of Alumni association in the maintenance of educational facilities for the effective actualization of school objectives was a worrisome nightmare in Kogi state. This, therefore, prompted the researchers to explore the Alumni’s participation in plant maintenance for effective implementation of the universal basic education (UBE) programme in public junior secondary schools in Kogi state. The purpose of this study was guided by the research question which stated that to what extent does the Alumni Association participate in plant maintenance for effective implementation of the UBE programme in public junior secondary schools in Kogi state?

A quantitative research approach using a descriptive survey was adopted for the study. The sample was drawn using a proportionate stratified sampling technique comprising 387 participants which consisted of 191 (49%) urban junior secondary school principals and 196 (51%) rural principals in selected UBE junior secondary schools. Alumni’s Participation in Plant Maintenance Questionnaire was used as an instrument for data collection. The data were analysed with the aid of mean and standard deviation for the research question and z-test statistics at 0.05 level of significance and the value of z-crit. of 1.96 was used to determine the rejection or otherwise of the hypotheses.

The descriptive analysis revealed that the average mean set of 2.64 pointed to the fact that the respondents averagely agreed that there was a high extent to which Alumni participate in plant maintenance in urban than rural areas for effective implementation of the UBE programme in public junior secondary schools in Kogi state. This indicates that Alumni contribute to the management of UBE schools in Kogi state, especially in the areas of funding, infrastructural facilities, discipline, politics and quality control. This finding also shows that the contributions of the alumni to educational institutions are still unclear if they have made contributions to education in some areas and none in other areas making their relevance to plant maintenance unclear.

In terms of practical implications, the study has contributed to knowledge in that it is the first of this form of a study carried out in Kogi state, and as such the findings of the research will make contributions to the physique of information on plant maintenance for the profitable implementation of the UBE programme in Kogi state. Besides, the degree of plant preservation for the implementation of the UBE programme among applicable stakeholders in Kogi state is nevertheless at a low extent.

Researchers have conducted studies that show how non-state Alumni members contribute to the administration of education across different states. Some of these studies revealed that Alumni members have assisted schools in the provision of teaching and learning materials at the senior secondary or tertiary education level. There are no sufficient studies to show how these Alumni members have contributed to the implementation of the free education programme, especially in public junior secondary schools in Kogi state and this is the gap this study intends to fill.

This study aims to delve into the lived experiences, challenges and visions of women entrepreneurs in Jordan, placing a magnifying glass on those spearheading or co-pioneering start-ups. It aims to understand the myriad factors that influence their entrepreneurial journey, from motivation to the future of their niche.

Adopting a qualitative lens, this study is anchored in semi-structured interviews encompassing 20 Jordanian women entrepreneurs. Following this, thematic analysis was deployed to dissect and categorize the garnered insights into ten salient themes.

The study reveals that personal experiences and challenges are pivotal in directing these women towards niche markets, aligning with the theory of planned behaviour (TPB). Tools such as digital instruments, customer feedback and innovative strategies like storytelling and augmented reality are integral to their entrepreneurial success, resonating with the resource-based view (RBV). Additionally, challenges like cultural barriers and infrastructural limitations are navigated through adaptive strategies, reflecting the resilience inherent in these entrepreneurs. Networking, mentorship, embracing technological advancements and implementing sustainable practices are highlighted as crucial elements underpinned by the social identity theory (SIT).

Contrary to the extant body of research, this study provides new insights into the challenges faced by women entrepreneurs in Jordan, highlighting the practical relevance of theories like TPB, RBV and SIT for both policymakers and the start-up community in niche markets.