Search results

Introduction: In the context of Sri Lanka, this study compares how institutions and financial development (FD) affect economic growth (EG) and inclusive growth (IG).

Purpose: The well-structured administration and judicial system at the provincial level have been established against the socioeconomic vulnerabilities in the country for an extended period. Still, the country as a whole and provincial level is experiencing huge income and social inequality, though there are required provisions for enhancing the well-being of the people.

Methodology: The study consists of data from the nine provinces from 2013 to 2019. The analysis used the Dynamic Spatial Durbin Model (D-SDM) to explore the spatial dependencies between the provinces. Two models were developed: the interaction of the financial service activities (FSA) and insurance, reinsurance, and pension (INPEN), representing the FD with the EG and IG with and without. The IG index was estimated by principal component analysis (PCA) using indicators of the four dimensions. The results indicated spatial dependency among FD’s interaction with EG when provincial tax (PROTAX) and provincial expenses (PROEXP) are the provincial institutions.

Findings: The IG model results showed the IG’s spatial dependency moderated by the FD and only the IG model between the provinces. PROEXP showed a significant positive spillover impact among provinces towards the IG.

Practical Implications: The finding inform economic policy making while identifying weaknesses in existing local governments. Attention must be given to how poverty can be reduced, enhancing the well-being of the people with the proper channelling of finance and government institutional mechanisms.

Battery electric vehicles (BEVs) are living up to their claims as consumers choose them more frequently. The increasing demand for sustainable vehicles translates into the global need for specific components, materials, and infrastructures and drives the regulatory frameworks in each country. While BEVs offer environmental benefits and global business opportunities, the technology has not yet gained mainstream acceptance. Thus, this work aims to investigate the characteristics of BEV users and their role in the diffusion of products to larger segments, as this may vary from country to country. For this purpose, a survey based on the Unified Theory of Acceptance and Use of Technology 2 (UTAUT-2) (Venkatesh et al., 2012) framework and structural equation modeling (SmartPLS) was adopted. The results indicated that, except for the constructs of effort expectancy (EE) and social influence (SI), the predictors in the model performed well in this context. Current users are satisfied with their vehicles and are supportive of BEVs in the future. The analysis also revealed that in addition to the availability of financial resources, early adopters are attracted by new technologies in a way that leads them to make decisions outside of the traditional influence of the other members of society. It is suggested to leverage the perceived benefits of status, differentiation, or uniqueness motives, to appeal to those seeking to appear trendy and tech-savvy in society. Companies and policymakers should acknowledge the peculiarities of early customers in their communication strategies to reach a wider audience around the globe and encourage the adoption of BEV technology.

This chapter aims to critically analyse the implications that the national protectionist policies have on the global supply and value chains and the relocation of production. The analysis is based on the assumptions that the global economy is facing the possibility of decoupling of many trade connections, and this trend favours de-globalisation processes that have long been promoted by populism, nationalism and economic protectionism. It is concluded that global supply, production and value chains although being economically efficient are no longer any more secure under national protectionist policies, and therefore, the relocation of production processes is mainly due to the increase in the level of income and wages of the developing countries that are the destination and which reduce the advantages to relocate.

Corporate Social Responsibility (CSR) reporting has been widely accepted as a vital tool for communicating with stakeholders on a range of social, environmental, and governance issues, but how companies define, interpret, apply, integrate, and communicate their CSR efforts and impacts in corporate reporting is anything but a straightforward task. The purpose of this chapter is to explore the concept of materiality in CSR reporting and demonstrate practical examples of good CSR and Sustainable Development Goals (SDGs) reporting practices. We chose the aviation industry because of its economic relevance, constant growth, and future expected changes in the aftermath of COVID-19. In addition, airlines affect many of the SDGs directly and indirectly with contending results. This chapter is timely because of the growing willingness by companies to integrate CSR and environmental, social, and governance (ESG) thinking into the corporate strategy and business operations using materiality assessment and enhancing their competitive advantage and ability to maintain long-term value and because ESG and ethical investing have become part of the mainstream investing. Thus, this chapter contributes to an understanding of the wide range of existing and new reporting frameworks and regulations and reinforces the importance of discussing how this diversity of approaches can affect the work toward worldwide comparability of CSR and sustainability reporting.

Implementing the 17 Sustainable Development Goals (SDGs) unarguably demands huge financial investments. However, the United Nations has acknowledged the huge financial gap militating against the implementation of the SDGs worldwide, leading experts to question the possibility of complete implementation of the goals by their terminal dateline of 2030. While the bulk of the finance currently outlaid on the SDGs comes from traditional sources including foreign direct investments (FDIs), there is the need to focus more attention on developing and exploiting impact investments that are more suitable for financing development programmes and projects. In this chapter, the SDG implementation profiles of the 12 Arab West Asia countries concerning the five most targeted SDGs were evaluated and sustainable finance issues were discussed. Secondary data were retrieved from World Bank's DataBank. The data were descriptively analyzed. Based on the profiles generated, debt relief is put forward as a possible impact investment mechanism suitable for funding the SDGs. Specifically, this chapter recommends that outright cancellation of debts based on the debt-for-SGD swap could serve as some of the impact investments needed to boost the global drive for a developed, peaceful, and just world.