Journal of Public Affairs最新文献

{"title":"Does Governance Quality Matter? A Comparative Investigation of Financial Liberalization and Economic Growth in Developed and Developing Countries","authors":"Salma Zahir,&nbsp;Haseeb Ur Rahman,&nbsp;Ismail Khan,&nbsp;Sami Ullah Khan,&nbsp;Shahid Khan","doi":"10.1002/pa.70147","DOIUrl":"https://doi.org/10.1002/pa.70147","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper aims to examine the direct and interaction effects of financial liberalization and governance quality on economic growth (EG) from multi-theoretical perspectives, both in developed and developing countries. In addition to using the Generalized Method of Moments (GMM) for estimation, the study also employs the principal component analysis (PCA) method to construct indices for financial liberalization and governance quality, assessing their influence on EG in 28 countries (10 developed and 18 developing) from 1996 to 2023. The findings indicate that both the financial liberalization index and its interaction with governance quality have a significant positive impact on EG across all the sampled countries. A comparative analysis reveals that financial liberalization and governance quality contribute more to EG in developed countries than in developing countries. The outcomes suggest that regulators and policymakers, especially in developing countries, should place greater emphasis on financial liberalization and governance quality to enhance EG. These countries should develop and implement effective financial liberalization policies while fostering strong governance frameworks to maximize their economic potential. Moreover, this study not only contributes to the existing body of knowledge but also provides valuable insights into whether developed or developing countries benefit more from financial liberalization.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 3","pages":""},"PeriodicalIF":1.7,"publicationDate":"2026-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148386146","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":"Leading Clan to Enterprise: Self-Transformational Leadership in Community-Driven Development Programs","authors":"Junesoo Lee,&nbsp;Jongwoo Chung,&nbsp;Booyuel Kim","doi":"10.1002/pa.70146","DOIUrl":"https://doi.org/10.1002/pa.70146","url":null,"abstract":"<p>Leader is not only a subject of change (i.e., influencing team members positively) but also an object of change (i.e., being changed positively for team performance). This study examines how the change of leader's personality is associated with team effectiveness in the community-driven development (CDD) process. To that end, we examined a CDD case in Myanmar implemented by the Korea International Cooperation Agency and the Myanmar Ministry of Agriculture, Livestock, and Irrigation. The analyses present several patterns: (1) a good performance of CDD program can be accompanied by an upward change (improvement) of leader personality more than by a steadily good personality of leader; (2) however, even a downward change (deterioration) of leader personality can be associated with team effectiveness in a metamorphosis from traditional to modern communities. Our findings suggest the importance of “self-transformational leadership,” which emphasizes the need for leaders to change themselves to better lead the changing nature of the community.</p>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 3","pages":""},"PeriodicalIF":1.7,"publicationDate":"2026-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/pa.70146","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148324946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effect of Public Education Expenditure on Income Inequality in Low-Income Countries: A Quantile Regression Approach","authors":"Relwendé Sawadogo,&nbsp;Thierno Thioune,&nbsp;Drissa Sawadogo,&nbsp;Gervasio Semedo","doi":"10.1002/pa.70145","DOIUrl":"https://doi.org/10.1002/pa.70145","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper aims to analyse the distributional effects of public social expenditure. To this end, it explores the conditional effects of education expenditure on income inequality in 42 low-income countries from 1998 to 2022. It is innovative compared to previous work in that it uses both a parametric method (instrumental variable method) and a semi-parametric method (Smoothed Instrumental Variables Quantile Regression). The findings indicate that public expenditure on education exerts a substantial impact on income inequality, across all specified models. A notable observation is that this effect is more pronounced in countries exhibiting comparatively lower levels of inequality than in those demonstrating higher inequality. It is important to note that public expenditure per pupil has a significant inequality-reducing effect only in unequal countries. The study suggests that increases in public education budgets can help mitigate income disparities in low-income contexts. However, more targeted per-pupil investments may be especially critical where inequality is most pronounced.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 3","pages":""},"PeriodicalIF":1.7,"publicationDate":"2026-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148324510","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":"Does the Income Volatility Decline in India? Evidence From a Household Survey","authors":"Annmary Jose,&nbsp;Rintu Anthony","doi":"10.1002/pa.70148","DOIUrl":"https://doi.org/10.1002/pa.70148","url":null,"abstract":"<div>\u0000 \u0000 <p>Income fluctuation increases risk and lowers well-being. In this study, we document trends in household income volatility and earnings volatility in India and examine the dynamic interactions between macroeconomic variables and their respective volatilities. We utilize a large database obtained from the CMIE-Consumer Pyramids Household Survey 2014–2022, comprising more than 10 million households. The income volatility has been measured using the standard deviation of the arc-percentage change in income. On analyzing the household and individual member income, we find that male earnings volatility decreased by 11.8% between 2014 and 2022, while female earnings volatility only reduced by 2.6%. The household income volatility also declined by 4.6%. Earnings volatility is higher for the younger population, less educated, and for farmers and entrepreneurs, and lower for the daily wage earners.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 3","pages":""},"PeriodicalIF":1.7,"publicationDate":"2026-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148282189","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":"Fintech Payment Adoption in Ghana's Informal Retail Sector: A Trust-Mediated and Regulation-Moderated Model","authors":"Seidu Musah,&nbsp;Emmanuel Baffour Gyau,&nbsp;Stephen Dokroug Kolog","doi":"10.1002/pa.70144","DOIUrl":"https://doi.org/10.1002/pa.70144","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates factors associated with fintech payment adoption among Ghana's informal retailers by integrating the Technology Acceptance Model with the Technology–Organization–Environment framework. Using data from 296 respondents and analyzed with SmartPLS 4, the study examines how perceived economic advantage, technological readiness, and perceived security are associated with fintech payment adoption intention, business growth perception, and actual adoption behavior. Findings show that all three factors significantly predict adoption outcomes, with trust in the fintech system serving as a strong mediator. Additionally, regulatory assurance was found to significantly moderate the relationship between trust and the dependent variables, underscoring the importance of institutional oversight in enhancing adoption behavior. Theoretically, the study advances fintech adoption literature by integrating the Technology Acceptance Model and the Technology–Organization–Environment framework, demonstrating how individual cognitive evaluations interact with institutional safeguards in an informal economy context. The model also accounts for considerable variance in fintech adoption intention and trust, providing practical insights that foster inclusive digital finance within Ghana's informal economy.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 3","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148237793","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":"Does Household Finance Drive the Gold Price? Evidence From India","authors":"Vighneswara Swamy,&nbsp;Munusamy Dharani","doi":"10.1002/pa.70142","DOIUrl":"https://doi.org/10.1002/pa.70142","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper investigates whether household finance impacts as a macroeconomic driver of gold price in India centering on the novel household-finance channel. Utilizing annual time-series data for the period 1960–2017, we use an econometric approach that incorporates cointegration regression techniques, Toda-Yamamoto causality, autoregressive distributed lag (ARDL) bounds testing and dynamic simulations to uncover the nexus between the net financial position of households (NFPH) and domestic gold price. The results reveal a long-run causal relationship with NFPH exerting a positive and unidirectional causality on gold price. Expanding financial openness and rising crude oil prices act as moderators and exert a weak but negative effect on gold demand. But, official gold reserves exhibit a consistent pro-cyclical impact. Further, additional advanced tests like Quantile Augmented Dickey–Fuller (QADF) tests, Wavelet Quantile Regression (WQR), Quantile-on-Quantile Granger Causality (QQGC), and Cross-Quantilogram techniques reveal a stronger nexus between household finance and gold price which is conditioned on forecast range. Particularly, household finance acts as a strong support for the gold price during market lows as well as in long-run forecast ranges even though other factors dominate during price spikes. Our findings highlight the importance of household financial position in modeling gold price and provide specific insights on gold policy in emerging economies like India.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 3","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148147060","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":"Differential Impact of Quantitative Easing on Income, Consumption and Wealth of the Younger and Older Generations","authors":"Aminat A. Raheem","doi":"10.1002/pa.70137","DOIUrl":"https://doi.org/10.1002/pa.70137","url":null,"abstract":"<p>This paper examines the differential effects of quantitative easing on the young, middle-aged and pensioners by comparing the periods before and after quantitative easing interventions in the UK. Quantitative easing may have boosted employment opportunities, as suggested by a few studies, but this paper finds that quantitative easing did not increase income and consumption for the working age groups. However, average income and consumption of the pensioners increase for the same period. The income gain may be partly due to the triple lock on pension. Overall, quantitative easing has a pronounced positive impact on wealth across all generations.</p>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 2","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/pa.70137","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147715159","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Exploring the Link Between Financial Inclusion and Social Well-Being: Global Evidence","authors":"Mohammad Ali Jamali,&nbsp;Hatra Voghouei,&nbsp;Mosharrof Hosen","doi":"10.1002/pa.70135","DOIUrl":"https://doi.org/10.1002/pa.70135","url":null,"abstract":"<div>\u0000 \u0000 <p>This article deals with the critical challenge of financial inclusion and its impact on social welfare based on inequality at a global level that affects individuals and societies. Using data from 60 countries between 2010 and 2022, this study uses a two-step system GMM estimation with the support of Stata software to address potential endogeneity issues. Key findings indicate that financial inclusion (defined as the access to and use of formal financial services) promotes the social pillar of sustainability through enhancing the Human Development Index (HDI) and voter turnout. However, it seems that financial inclusion alone is not sufficient. In the absence of adequate financial literacy—the ability to understand and effectively use financial information—individuals may face unintended consequences such as over-indebtedness or poor financial choices that can undermine well-being. Importantly, this paper highlights that financial inclusion influences not only individual behavior in improving personal well-being but also shapes individuals' societal roles by encouraging greater participation in civic activities such as voting. This dual impact underscores financial inclusion's transformative role in fostering personal development and community engagement. This study provides actionable insights for policymakers, recommending financial literacy programs, responsible lending policies, and governance improvements to create inclusive, equitable, and sustainable societies.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 2","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147715099","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":"Breaking Down IPO Barriers: Cultivating Conducive Retail Investment Environment","authors":"Sachin Prakash Srivastava,&nbsp; Himanshu,&nbsp;Gaurav Jyoti,&nbsp;Sanjay Gupta","doi":"10.1002/pa.70127","DOIUrl":"https://doi.org/10.1002/pa.70127","url":null,"abstract":"<div>\u0000 \u0000 <p>The paper aims at providing a modeling framework on the barriers, which influence the retail investment decision in the initial public offering (IPO) market. Based on a structured literature review and nominal group-based expert discussions, eight major barriers were identified and they were assessed through the grey-DEMATEL methodology. The findings point out that information asymmetry and higher pricing by issuers are the most prominent barriers. High information asymmetry and a lack of understanding of IPO issuers' future prospects force investors to make decisions based on heuristics rather than on reliable and relevant information. The absence of a standard valuation method compels uninformed investors to perform a subjective valuation of IPO issuers. Investors become unable to distinguish between underpriced and overpriced IPOs. Thus, this study provides a supporting explanation for the “winner's curse” and the “hot issue market” phenomena. The current study suggests that the establishment of a favorable investment environment is an ongoing activity, and the regulators have to intervene frequently in order to achieve optimality.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 2","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147714986","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":"Digital Citizenship and Political Culture: How Digital Civic Engagement Shapes Political Orientations in Erbil, Iraq","authors":"Lashkr Aliakbar Hadaya","doi":"10.1002/pa.70138","DOIUrl":"https://doi.org/10.1002/pa.70138","url":null,"abstract":"<div>\u0000 \u0000 <p>This quantitative study examines the relationship between digital citizenship behaviors and political culture formation among 374 citizens in Erbil, Kurdistan Region of Iraq. The research addresses a critical gap in understanding how digital transformation influences political culture orientations in postconflict societies. Using a cross-sectional survey design with stratified random sampling, this study investigates how digital civic engagement, online political participation, e-government interaction, and social media political discourse shape democratic, traditional, and hybrid political culture orientations. The theoretical framework integrates Mossberger et al.'s (2008) digital citizenship theory with Almond and Verba's (1963) political culture typology and Norris's (2001) democratic participation framework. Data collection employed a validated 85-item questionnaire with Cronbach's alpha reliability coefficients ranging from 0.847 to 0.923 across all scales. Statistical analysis included descriptive statistics, Pearson correlations, multiple regression analysis, and factor analysis using SPSS 28.0. Results reveal that digital civic engagement (<i>β</i> = 0.312, <i>p</i> &lt; 0.001) and online political participation (<i>β</i> = 0.287, <i>p</i> &lt; 0.001) significantly predict democratic political culture orientations, while traditional media consumption (<i>β</i> = 0.198, <i>p</i> &lt; 0.01) associates with traditional political culture patterns. The model explains 68.4% of variance in political culture orientations (<i>R</i>² = 0.684, <i>F</i> = 89.23, <i>p</i> &lt; 0.001). Findings indicate that citizens with higher digital citizenship behaviors demonstrate stronger democratic orientations, increased political tolerance, and greater support for participatory governance. This research contributes novel insights into digital democracy development in the Middle East, particularly within Kurdistan Region's unique socio-political context. The study's implications extend to policymakers, digital governance initiatives, and civic education programs aimed at fostering democratic political culture through digital engagement platforms.</p>\u0000 </div>","PeriodicalId":47153,"journal":{"name":"Journal of Public Affairs","volume":"26 2","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147715013","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}