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Can digital financial inclusion (DFI) as an emerging and innovative financial service encourage economic development?
Abstract
Purpose
Can digital financial inclusion (DFI) as an emerging and innovative financial service encourage economic development?
Design/methodology/approach
Based on a Bayesian macroeconomic investigation framework, this research study presents the level of internet growth as a threshold variable and examines the influence of DFI on economic development based on state panel data from 2008 to 2021 in India.
Findings
The outcome of DFI on economic development through various mediation models. The results illustrate that DFI growth substantially contributes to economic development.
Originality/value
Encouraging small and medium-sized enterprise entrepreneurship and motivating populations’ utilization are two significant networks through which DFI progress affects economic growth.
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Hasan Tutar, Hakan Eryüzlü, Ahmet Tuncay Erdem and Teymur Sarkhanov
This study investigates the correlation between economic development and scientific knowledge production indicators in the BRICS countries from 2000 to 2020, highlighting the…
Abstract
Purpose
This study investigates the correlation between economic development and scientific knowledge production indicators in the BRICS countries from 2000 to 2020, highlighting the importance of human resources, natural resources, and innovation. Addressing a gap in the existing literature, this study aims to contribute significantly to understanding this relationship.
Design/methodology/approach
Employing a descriptive statistical approach, this study utilizes GDP and per capita income as economic indicators and scientific data from WoS and SCOPUS databases, focusing on scientific document production and citations per document.
Findings
The analysis reveals a strong correlation between economic development and scientific performance within the BRICS nations during the specified period. It emphasizes the interdependence of economic progress and scientific prowess, underscoring that they cannot be considered independently.
Research limitations/implications
However, limitations exist, notably the reliance on specific databases that might not cover the entire scientific output and the inability to capture all factors influencing economic and scientific development.
Originality/value
Understanding this interdependence has crucial originality. Policymakers and stakeholders in BRICS countries can leverage these insights to prioritize investments in human capital development and scientific research. This approach can foster sustainable economic growth by reducing reliance on natural resources.
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Shekhar Saroj, Rajesh Kumar Shastri, Priyanka Singh, Mano Ashish Tripathi, Sanjukta Dutta and Akriti Chaubey
Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the…
Abstract
Purpose
Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the utility of human capital have often been divided. To address the research gap in the literature, the authors attempt to understand how human capital plays a significant role in financial development and economic growth nexus.
Design/methodology/approach
The authors rely on secondary data published by the World Bank. The authors use econometric tools such as the autoregressive distributive lag (ARDL) model and related statistical tests to study the relationship between human capital, India's financial growth and gross domestic product (GDP) growth.
Findings
Study findings suggest that human capital and financial development contribute significantly to economic growth. Further, the authors found that human capital has a positive and significant moderating effect on the path of joining financial development and economic growth.
Practical implications
The study contributes to the human capital debate. Despite the rich body of literature, the study based on World Bank data confirms the previous findings that investment in human capital is always useful for the financial and economic growth of the nation.
Originality/value
This paper reveals some unique findings regarding effect of financial development and economic growth nexus which opens the window of new dimension to think about their nexus. It also provides a different pathway to foster the economic growth by using human capital and financial development as together, especially in India.
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This study aims to investigate the relationship between financial inclusion and sustainable economic development in Indonesia by exploring the potential impact of Takaful…
Abstract
Purpose
This study aims to investigate the relationship between financial inclusion and sustainable economic development in Indonesia by exploring the potential impact of Takaful. Specifically, the study seeks to examine the feasibility of leveraging Takaful as a means to foster financial inclusion and drive economic growth in Indonesia.
Design/methodology/approach
This study uses a qualitative analysis methodology, specifically using content analysis techniques, to investigate the relationship between financial inclusion and sustainable economic growth in Indonesia, focussing on the role of Takaful. The content analysis enables a systematic study of the data to identify trends and topics pertinent to Takaful and its potential to advance financial inclusion.
Findings
The study’s results reveal a direct causal link between economic growth and achieving financial inclusion through the use of Takaful. The findings also indicate a positive correlation between the increased presence of Takaful markets and accelerated economic growth.
Research limitations/implications
The study examines only the use of Takaful in achieving financial inclusion and sustainable economic growth in Indonesia. Nonetheless, the practical implications of this research are substantial, as they highlight the potential of Takaful to foster financial inclusion and stimulate economic growth in Indonesia.
Practical implications
This study contributes to the limited body of research on the relationship between financial inclusion and economic growth in Indonesia, specifically in the context of Takaful.
Originality/value
This study’s value lies in its exploration of an under-researched area, providing crucial insights into the potential of Takaful to promote financial inclusion and drive economic growth in Indonesia. The social implications of this study are also noteworthy, as increased financial inclusion and economic growth can positively affect poverty reduction, job creation and overall societal well-being in Indonesia.
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Samuel Osei-Gyebi and John Bosco Dramani
The purpose of this study is to analyze the nonlinear relationship between electricity consumption (EC) and electricity transmission losses (ETL) in Ghana. Also, we examined how…
Abstract
Purpose
The purpose of this study is to analyze the nonlinear relationship between electricity consumption (EC) and electricity transmission losses (ETL) in Ghana. Also, we examined how ETL moderate the effect of EC on economic growth in Ghana from 1980 to 2021.
Design/methodology/approach
We used timeseries data from 1980 to 2021 within an autoregressive distributed lag framework to analyze the links among ETL, EC and economic growth in Ghana.
Findings
Findings show the existence of an asymmetric long-run relationship between EC and ETL. Also, the negative effects of ETL on EC are bigger in the long run. In addition, ETL and EC combine to reduce economic growth, in the long run, providing evidence for the energy-led growth theory in Ghana. Population and inflation were also found to have a significant effect on economic growth in Ghana.
Originality/value
We examined the nonlinear nexus of EC and ETL, which extant studies have ignored in discussing the link between EC and economic growth. Again, we showed that ETL reduces EC causing a reduction in economic growth.
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Countries worldwide aim to improve their comparative advantages by efficiently using scarce resources for economic growth and development. While many studies have been conducted…
Abstract
Purpose
Countries worldwide aim to improve their comparative advantages by efficiently using scarce resources for economic growth and development. While many studies have been conducted to measure intellectual capital at the firm's level, measuring it at the national level has been under-examined. In addition, while the important role of national intellectual capital in economic growth has been theoretically recognized in literature, this important link has largely been ignored in empirical analyses.
Design/methodology/approach
This study uses the newly developed index of national intellectual capital from Vo and Tran's (2022) study to examine its effects on national economic growth in the long run. The dynamic common correlated effects technique and the pooled mean group estimation are used on the sample of 23 economies in the Asia–Pacific region from 2000 to 2020.
Findings
Findings from this study confirm the positive and significant contribution of the national intellectual capital to economic growth in the region. The authors also find that, as a feedback effect, economic growth will also enhance and improve the accumulation of national intellectual capital.
Practical implications
The findings of this paper provide valuable evidence and implications for policymakers in managing and improving national intellectual capital in the Asia–Pacific region.
Originality/value
To the best of the authors’ knowledge, this is the first empirical study to examine the impact of national intellectual capital on economic growth in the long run in the Asia–Pacific economies.
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Wei Yang, Xiaoyun Lao, Qing Zhou and Jian Liu
This study aims to examine how participation in the Belt and Road Initiative (BRI) affects province-level regional economic resilience. In the context of dual circulation – the…
Abstract
Purpose
This study aims to examine how participation in the Belt and Road Initiative (BRI) affects province-level regional economic resilience. In the context of dual circulation – the new development paradigm proposed by the Chinese Government – participating in the BRI is an important means of connecting both international and domestic circulations and achieving high economic resilience. The complex causal relationship between participation in the BRI and province-level regional economic resilience is investigated.
Design/methodology/approach
Based on the complex system view, this study uses fuzzy set qualitative comparative analysis (fsQCA) to examine the impact on regional economic resilience when provinces participate in the BRI through unimpeded trade, infrastructure connectivity, financial integration and people-to-people bonds under the two conditions of attention allocation and buffering capacity. Qualitative textual analysis is applied to analyse provincial work reports, and relevant statistical data are used to measure the economic resilience from 2013 to 2020.
Findings
The authors identified three condition configurations that lead to a high regional economic resilience at province-level and one condition configuration that lead to no high-level regional economic resilience.
Research limitations/implications
In-depth analyses of qualitative materials should be conducted to explain the systematic relationships among the conditions.
Originality/value
This research is of practical significance to the development of the theoretical framework and practices of the BRI in the context of dual circulation.
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Philip Kwaku Kankam and Stephen Attuh
Community radio attempts to place the power of communication in the hands of community members, particularly the youth, so that they can create and broadcast materials that…
Abstract
Purpose
Community radio attempts to place the power of communication in the hands of community members, particularly the youth, so that they can create and broadcast materials that address local community issues. The purpose of the study is therefore to look into the potential impacts of community radio and the function it plays in youth development.
Design/methodology/approach
This study employed a qualitative research approach to investigate the role of community radio in information dissemination towards youth development in Ghana. Two community radio stations were selected for the study, and through the use of semi-structured interview, qualitative data were collected from 42 participants comprising two programme managers, four radio producers and 36 youth. The qualitative research approach enabled in-depth understanding of the phenomenon of the study.
Findings
This study found that both community radio stations aired youth-centred programmes that were beneficial to the development of the youth within the stations’ coverage communities. The results further reveal that community radio offers the opportunity and platform for the youth to engage the political authorities for development and also entertain themselves.
Originality/value
The authors consider this study original both in conceptualization and design. The main question being interrogated stems from identified gaps in the literature, and this study intends to fill these knowledge gaps. This study’s originality also stems from the fact that there is a paucity of information on the subject of study in the context of Ghana.
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Sebastian Aparicio, Mathew (Mat) Hughes, David Audretsch and David Urbano
Going beyond the traditional approach of formal and informal institutions as antecedents of entrepreneurship (directly) and development (indirectly), this paper seeks to explore…
Abstract
Purpose
Going beyond the traditional approach of formal and informal institutions as antecedents of entrepreneurship (directly) and development (indirectly), this paper seeks to explore knowledge institutions as a necessary input for entrepreneurship and the development of societies.
Design/methodology/approach
Institutional economics lenses are utilized to observe other factors (e.g. the number of R&D staff and researchers from the public sector) that involve laws and socialization processes, which at the same time create knowledge useful for entrepreneurs and society. These ideas are tested through a sample of 281 observations from 17 autonomous communities and two autonomous cities in Spain. The information coming from the Global Entrepreneurship Monitor (GEM), Ministry of Economics, Industry, and Competitiveness, and INE (Instituto Nacional de Estadística), was analyzed through 3SLS, which is useful for a simultaneous equation strategy.
Findings
Knowledge institutions such as the number of R&D staff and researchers from the public sector are found positively associated with entrepreneurship, which is a factor directly and positively linked to economic development across Spanish regions.
Originality/value
The findings help the operationalization of other institutions considered in institutional economics theory and its application to entrepreneurship research. Moreover, the results bring new insights into the knowledge spillover theory of entrepreneurship in the public sector, in which the institutional analysis is implicit.
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Oğuz Kara, Levent Altinay, Mehmet Bağış, Mehmet Nurullah Kurutkan and Sanaz Vatankhah
Entrepreneurial activity is a phenomenon that increases the economic growth of countries and improves their social welfare. The economic development levels of countries have…
Abstract
Purpose
Entrepreneurial activity is a phenomenon that increases the economic growth of countries and improves their social welfare. The economic development levels of countries have significant effects on these entrepreneurial activities. This research examines which institutional and macroeconomic variables explain early-stage entrepreneurship activities in developed and developing economies.
Design/methodology/approach
The authors conducted panel data analysis on the data from the Global Entrepreneurship Monitor (GEM) and International Monetary Fund (IMF) surveys covering the years 2009–2018.
Findings
First, the authors' results reveal that cognitive, normative and regulatory institutions and macroeconomic factors affect early-stage entrepreneurial activity in developed and developing countries differently. Second, the authors' findings indicate that cognitive, normative and regulatory institutions affect early-stage entrepreneurship more positively in developed than developing countries. Finally, the authors' results report that macroeconomic factors are more effective in early-stage entrepreneurial activity in developing countries than in developed countries.
Originality/value
This study provides a better understanding of the components that help explain the differences in entrepreneurship between developed and developing countries regarding institutions and macroeconomic factors. In this way, it contributes to developing entrepreneurship literature with the theoretical achievements of combining institutional theory and macroeconomic indicators with entrepreneurship literature.
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