Journal of Economic and Administrative Sciences最新文献

{"title":"Financial inclusion: a new multi-dimensional index and determinants – evidence from the Union for the Mediterranean countries","authors":"Soumaya Ben Khelifa, D. Hmaied, Olfa Ben Ouda, R. Ayadi, Rania Makni","doi":"10.1108/jeas-12-2021-0266","DOIUrl":"https://doi.org/10.1108/jeas-12-2021-0266","url":null,"abstract":"PurposeThis paper proposes a new multi-dimensional financial inclusion index.Design/methodology/approachThe authors employ two-stage principal component analysis (PCA) and aggregating indicators of availability, access and use. The paper first assesses the cross-country variations in the index and analyses trends over time for a sample of countries members of the Union for the Mediterranean (UfM) from 2010–2018. Second, it investigates factors that could explain the level of financial inclusion across countries.FindingsThe financial inclusion index shows a downward trend for the full sample over the period under investigation; however when splitting the sample by income group, it appears that high- and middle–income countries did not register the same trend. When examining the determinants of financial inclusion for the UfM countries, the authors find that macroeconomic, social and governance factors, as well as banking conditions, matter. Policy-makers in low- and middle-income economies should consider the importance of digital financial inclusion, which is substituting the role to traditional banking system, to close the gap and accelerate its development.Originality/valueFirst, the authors provide a new measure of financial inclusion using a three-dimensional index: availability, access and use, for which weights are assigned using PCA. It uses data available for the UfM sample by combining data from different databases in order to include most indicators considered in the literature, as the majority of studies only use single measures (number of bank branches, ownership of a bank account, ratio of credits or deposits to gross domestic product [GDP], etc.). Second, by focussing on UfM countries, the study covers a region that includes both large developed and small developing economies that are connected via financial and trade ties, whilst previous studies generally give global evidence from an international sample with little or no economic ties. Third, splitting the sample by country income groups, the paper presents a more comprehensive representation of the cross-country variation in financial inclusion levels between high- and middle-income economies for this region.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"16 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77127789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Challenges of blockchain application in the financial sector: a qualitative study","authors":"Supratik Banerjee, Arti Chandani","doi":"10.1108/jeas-10-2021-0200","DOIUrl":"https://doi.org/10.1108/jeas-10-2021-0200","url":null,"abstract":"PurposeThe novel blockchain technology can be leveraged, owing to the growth in computing power and its widespread applications. This study aims to understand the challenges of adopting blockchain technology in the financial sector, organise them into a model and classify them for systematic address.Design/methodology/approachInterpretive Structural Modeling (ISM) has been carried out along with MICMAC (Matrice d’impacts croisés multiplication appliquée á un classment) analysis to hierarchically structure blockchain adoption problems and categorise the challenges into four classes-autonomous, dependent, linkage and independent for better addressing. The study also uses content analysis using NVivo software.FindingsThe digraph depicts the hierarchical challenge model. Vulnerability to financial crimes and glitches, privacy issues and geopolitical tensions due to cross-border transactions are the dependent variables. Complex architecture to comprehend, code and fix, the need for new financial intermediaries, complexity in auditing and the lack of unified governance and coordination among institutions and regulators are the independent variables. The digraph, which is also justified by the qualitative content analysis, is beneficial for stakeholders to systematically address the interdependent challenges associated with blockchain implementations in finance to foster its favourable adoption.Practical implicationsThe challenges in the adoption of blockchain should be resolved to allow the implementation of this technology in various finance domains. This study enables organisations to carry out resource planning and systematically address these challenges to leverage the advantages of blockchain.Social implicationsThe results of the present study can help in promoting the proliferation of blockchain for faster, cost-effective, transparent and secure financial transactions and foster innovative and new business models for economic growth.Originality/valueThe development of technology has brought about significant changes in the financial sector. Blockchain is a technological advancement that aims to bring security and transparency to transactions. There has been no research leveraging ISM-MICMAC to hierarchically organise and classify the blockchain challenges in the financial sector, a critical one. The research also uses content analysis which is seldom found along with ISM-MICMAC.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"27 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81948992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Heterogeneous analysis of free trade agreement between Pakistan and China: a policy guideline for CPEC","authors":"Muhammad Imran, A. Sattar, Md. Shabbir Alam","doi":"10.1108/jeas-02-2022-0051","DOIUrl":"https://doi.org/10.1108/jeas-02-2022-0051","url":null,"abstract":"PurposeEconomic ties and formation of trade blocks escalates the movement of goods among the participants and bring different economic and structural changes. Therefore, the current research emphasises on the distribution of market structure and industrial value added among the participant countries of China–Pakistan economic corridor project while focussing on pre and post FTA status.Design/methodology/approachThis study utilises the footloose capital model for analysing whether China or Pakistan is more suitable for attracting factors of production to increase their share of industrial value added. For econometric analyses the current research utilises data from 1995 to 2018 and maximum likelihood effect method to assess factors that affect regional value-added distribution.FindingsResults show that both countries owe different level of economic developments. Effect of capital is, comparatively, similar for both countries while Pakistan supports trade openness which points towards the fact of positive utilisation of abundant labour resources in Pakistan by establishing industrial structure either through domestic capital formation or foreign investment. Whereas, share of labour and trade openness of China positively affect value added production of China.Originality/valueThis is one of the unique studies that studies the regional economic treaties usefulness for any developing country across Asia. Where this study uses the footloose capital model and maximum likelihood method for its analysis which is not previously done, while for detailed analyses the study further divides the timeframe into two parts as pre-FTA ranges from 1995 to 2006, post-FTA from 2007 to 2018 while overall results consist of whole-time frame.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"115 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79457287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of sustainable supply chain management on cost performance: empirical evidence from manufacturing companies of Bangladesh","authors":"Zobaida Khanam, Ratana Ghosh","doi":"10.1108/jeas-02-2022-0050","DOIUrl":"https://doi.org/10.1108/jeas-02-2022-0050","url":null,"abstract":"PurposeThe aim of the study has been performed to investigate the relationship between sustainable supply chain management (SSCM) practices and the cost performance of manufacturing firms in Bangladesh. Moreover, this paper highlights the key environment-friendly approaches and their association with financial performance in Bangladesh.Design/methodology/approachThe paper empirically assesses sustainable supply chain performance using four major supply chain practices, including sustainable procurement, sustainable production, sustainable distribution and investment recovery, and compares it with the cost performance. Twenty-four variables were identified through different literature and distributed as a structured questionnaire among the managers appointed in different manufacturing firms in Bangladesh. An empirical study was conducted using the Partial Least Square-Structural Equation Modeling (PLS-SEM) technique to examine the hypothesized relationships.FindingsThe results find a positive relationship in two variables of sustainable supply chain practices, including sustainable procurement and investment recovery, while sustainable distribution negatively impacted cost performance. In addition, sustainable production found no effect on cost performance.Research limitations/implicationsThe paper emphasizes the financial perspective of a sustainable supply chain without explicit consideration of sustainability's environmental and social dimensions.Practical implicationsThis study has implications for the literature on the SSCM approaches of manufacturing firms in the least developed economies. In addition, this study could work as a guideline for some manufacturing industries that prefer a policy or standard to alter their traditional supply chain management system to a sustainable supply chain.Originality/valueThe paper provides a comprehensive framework for evaluating the coordinated effect of SSCM practices on cost performance where variables of four specific activities of SSCM and cost performance are adopted from different studies. Further studies could be initiated, including some other eco-friendly supply chain variables, and the effect could be evaluated from an environmental perspective.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"18 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81820019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Air pollution, health expenditure and economic growth in MINT countries: a trivariate causality test","authors":"C. Ibukun, Wuraola Mahrufat Omisore","doi":"10.1108/jeas-03-2022-0074","DOIUrl":"https://doi.org/10.1108/jeas-03-2022-0074","url":null,"abstract":"PurposeThis paper examines the long-run and dynamic causal relationship among air pollution, health expenditure and economic growth in Mexico, Indonesia, Nigeria and Turkey (MINT countries).Design/methodology/approachThe bounds test approach to cointegration and causality test was employed on data covering 1995–2018.FindingsThe study shows evidence of a long-run relationship among the variables in MINT countries and the causality test confirms the existence of a bidirectional causal nexus between health expenditure and economic growth in the four countries. It also confirms that there is a bidirectional causal relationship between carbon dioxide (CO2) emission and economic growth, except in Nigeria where a unidirectional causal relationship was found running from CO2 emissions to economic growth. In addition, a bidirectional causal relationship was found between air pollution and health expenditure in Turkey, while no causal relationship was found among these variables in Nigeria.Research limitations/implicationsThis study is limited by available data and it only focuses on four emerging economies. To address this, future studies can expand this scope to more emerging economies with severe air pollution and also extend the scope when more recent data becomes available.Practical implicationsThis study suggests that pollution standards in MINT countries should be monitored and enforced with transparency so as to mitigate its health implications and ensure the sustainability of economic growth.Social implicationsThe study confirms the importance of keeping air pollution as low as possible because of its negative effect on health and economic output.Originality/valueThe study accounts for the complexity of each MINT country instead of providing a general discussion on the relationship between air pollution, health expenditure and economic growth in MINT countries.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"7 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88112584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Assessing non-linear effects of government size on inflation in India: recent evidence from smooth transition autoregression model","authors":"Asif Tariq, Masroor Ahmad, Aadil Amin","doi":"10.1108/jeas-08-2022-0190","DOIUrl":"https://doi.org/10.1108/jeas-08-2022-0190","url":null,"abstract":"PurposeStandard economic theory predicts that any increase in public spending is accompanied by a rise in inflation in an economy. This paper presents empirical proof that prices do not always rise with an increase in public expenditure but only up to a certain threshold level. The primary aim of this paper is to unearth the government size-inflation nexus in India for the period from 1971 to 2019.Design/methodology/approachThe logistic STAR (smooth transition autoregression) model is employed to unravel the government size-inflation nexus for the Indian economy from a non-linear perspective.FindingsThe finding of our study confirm the non-linear relationship between the size of the government and inflation in India. The estimated threshold level for government size is precisely found to be 9.27%. The size of the government exerts a negative influence on inflation until it reaches the optimal or threshold level. Any further increase in the size of government beyond this threshold level would result in a rise in inflation.Research limitations/implicationsThe findings have implications for the conduct of fiscal policy. Policymakers can increase government spending in a regime of small government size without having any inflationary impacts by generating revenues from taxes and other sources instead of relying much on the central bank. In the regime of a large-sized government, adhering strictly to the discipline in the conduct of fiscal and monetary policies would help curb inflation and enhance growth synchronously, hence alleviating any loss of welfare.Originality/valueTo the best of the authors’ knowledge, this study is an attempt to revisit the government size-inflation nexus in India from a non-linear perspective using the Smooth Transition Autoregression (STAR) model for the first time.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"649 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74526582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Critical success factors of implementing sustainable and responsible investment (SRI) Sukuk for economic recovery from COVID-19 pandemic","authors":"Syed Marwan, S. Ismail, Mohamed Aslam Mohamed Haneef, Engku Rabiah Adawiyah Engku Ali","doi":"10.1108/jeas-08-2021-0160","DOIUrl":"https://doi.org/10.1108/jeas-08-2021-0160","url":null,"abstract":"PurposeThere are three objectives of this paper. First, the study investigates the critical success factors critical success factors (CSFs) of implementing sustainable and responsible investment (SRI) Sukuk in Malaysia as perceived by stakeholders. Second, the study examines the differences between the developers and the investors in relation to the importance of the CSFs. Third, the study attempts to categorise the CSFs.Design/methodology/approachUsing a questionnaire survey, 260 completed and useable responses were received representing a 42.54% response rate. In examining the importance of CSFs, the descriptive statistical tests of mean, standard deviation and mean score ranking were used. Independent t-tests were conducted to investigate the differences in the perceptions of the importance of CSFs between the developer and the investor groups. In categorising the CSFs, exploratory factor analysis (EFA) was undertaken.FindingsOverall, the top five most important CSFs as perceived by respondents are as follows: (1) good governance framework, (2) fulfil ethical standards, (3) transparent procurement process, (4) well-defined scope and (5) viable feasibility study. On the other hand, the five factors that are ranked last are as follows: (1) defined stakeholder roles, (2) stable macro-economic conditions, (3) existing social programmes, (4) guarantor and (5) political will. The study also found that there is a significant statistical difference in how the developers and investors scored the CSFs. Moreover, there are three main categories of the CSFs that are effective feasibility study, financial and technical considerations and political willingness and agreeability.Originality/valueThe findings highlight the critical factors to consider when implementing SRI Sukuk. This can also serve as a reference and guideline for countries considering SRI Sukuk issuances for economic recovery stimulus post-coronavirus disease 2019 (COVID-19) pandemic.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"23 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84893803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of government responses to COVID-19 on the resilience of FDI attractiveness factors in the Asian region","authors":"S. Kammoun, Y. Ben Romdhane","doi":"10.1108/jeas-03-2022-0085","DOIUrl":"https://doi.org/10.1108/jeas-03-2022-0085","url":null,"abstract":"PurposeThe purpose of this paper is twofold. Firstly, the paper aims to determine the separate effects of the COVID-19 pandemic and government actions represented by the index of stringency, containment and economic support on the attractiveness of foreign direct investment (FDI). Secondly, the paper aims to explore the impact of the interactions between the COVID-19 epidemic and government interventions on FDI.Design/methodology/approachThe study uses a panel data set of 30 Asian countries during the two pandemic years 2020 and 2021 to investigate the effect of government actions on the resilience of FDI attractiveness factors.FindingsThe empirical results reveal the negative effect of COVID-19 on FDI inflows and attractiveness factors. However, government responses have a positive and statistically significant effect on the FDI attractiveness factors such as economic growth, trade openness and human and technological capital development and contribute to the economic recovery of the Asian region.Practical implicationsThe empirical findings can provide useful information for policymakers in designing macroeconomic policies and taking government measures to improve their investment environment and attract FDI.Originality/valueThe study shows that government responses, economic support, containment and health policies are effective in containing viruses, reducing the impact of the COVID-19 pandemic and strengthening resilience in FDI attractiveness factors. It also indicates that foreign investors are responding positively to government measures.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"5 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77743860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Foreign earnings repatriation: the effect of exchange rate volatility and the risk of expropriation","authors":"Muhammad Tahir, Haslindar Ibrahim, Badal Khan, Riaz Ahmed","doi":"10.1108/jeas-04-2022-0092","DOIUrl":"https://doi.org/10.1108/jeas-04-2022-0092","url":null,"abstract":"PurposeThis study aims to investigate the impact of exchange rate volatility and the risk of expropriation on the decision to repatriate foreign earnings.Design/methodology/approachThe current study uses secondary data for foreign subsidiaries of US multinational corporations (MNCs) in 40 countries from 2004 to 2016. We use the dynamic panel difference generalised method of moments (GMM) to estimate the dynamic earnings repatriation model.FindingsThe findings show that foreign subsidiaries of US MNCs in countries with volatile exchange rates tend to repatriate more earnings to the parent company. The findings also reveal that a greater risk of expropriation in the host country leads to the higher repatriation of foreign earnings to the parent company. The findings support the notion that MNCs use the earnings repatriation policy as a means of mitigating risks arising in the host country.Practical implicationsPractical implications for modern managers include shedding light on how financial managers can use earnings repatriation policy to mitigate exchange rate risk and the risk of expropriation in the host country. The findings also contain policy implications at the host country level that how exchange rate volatility and risk of expropriation can reduce foreign investment in the host country.Originality/valueThis study adds to the earnings repatriation literature by analysing the direct effect of exchange rate volatility on earnings repatriation decisions, as opposed to the impact of the exchange rate itself, as suggested by previous research. Hence, the findings broaden our understanding of the direct influence of exchange rate volatility on the decision to repatriate foreign earnings. The present study also examines the role of the risk of expropriation in determining earnings repatriation policy, which has received little attention in prior empirical studies.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"2 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78840668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Threshold effects of public debt on economic growth in South Africa: an application of a regression kink with an unknown threshold","authors":"A. Ndoricimpa","doi":"10.1108/jeas-04-2022-0106","DOIUrl":"https://doi.org/10.1108/jeas-04-2022-0106","url":null,"abstract":"PurposeSouth African public debt has recently increased significantly and has reached worrying levels. This study aims to examine the debt threshold effects on economic growth in South Africa, with an objective of suggesting a debt threshold as South African policymakers will seek to reduce debt to a sustainable level in the coming years.Design/methodology/approachThe study applies a recent novel methodology advanced by Hansen (2017) that allows modelling a regression kink with an unknown threshold.FindingsThe findings of this study indicate a robust debt threshold of 37% of gross domestic product (GDP). Below this threshold, debt is growth-enhancing, but above 37% of GDP, debt is harmful to growth in South Africa.Practical implicationsAmong other things, to reduce the debt-to-GDP ratio, South Africa will need a fiscal consolidation policy by undertaking reforms to state-owned companies to reduce their reliance on public funds, as well as putting in place economic measures to boost long-term growth. The country should also improve tax collection in order to realize additional tax revenue through enhancing compliance and other revenue collection measures.Originality/valueMost of the existing studies on debt threshold effects in Africa are panel data studies, which assume parameter homogeneity, by determining a single debt threshold value applicable to all countries. This can be misleading as the debt-growth nexus is country-specific, being conditional on several factors, such as institutional quality. The present study applies a recent novel methodology, which allows to model a regression kink with an unknown threshold, for the case of South Africa. The methodology endogenously determines the debt threshold while also allowing a country-specific analysis.","PeriodicalId":44018,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"612 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2022-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77494579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}