At present, under the background of the rapid development of the world economy, the emergence of various multilateral or organization makes it more and more closely with the economic coordination mechanism.In the process of China’s economic development, the Yangtze River Delta region, as an important part of China’s economic development, is an important factor to promote the development of domestic market economy. However, under the influence of the novel coronavirus pneumonia epidemic, the problems of market development and planned economy are more obvious, and the development resistance between cities is also large.Starting from the actual situation of China’s national conditions, this paper studies the market-oriented reform and the transformation of capital economy existing in the regional integration of the Yangtze River Delta, summarizes the current situation faced by the Yangtze River Delta, the development goals and ideas, the improvement of the coordination system of funds, finance and taxation and the development prospects, and puts forward some targeted countermeasures according to these problems. The Yangtze River Delta region can better promote its own high-quality development under the new development pattern with the domestic great cycle as the main body and the domestic and international double cycles promoting each other.
{"title":"Research on the Problems and Countermeasures in the Economic Integration of the Yangtze River Delta","authors":"Leifan Pan","doi":"10.5539/ijef.v16n2p121","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p121","url":null,"abstract":"At present, under the background of the rapid development of the world economy, the emergence of various multilateral or organization makes it more and more closely with the economic coordination mechanism.In the process of China’s economic development, the Yangtze River Delta region, as an important part of China’s economic development, is an important factor to promote the development of domestic market economy. However, under the influence of the novel coronavirus pneumonia epidemic, the problems of market development and planned economy are more obvious, and the development resistance between cities is also large.Starting from the actual situation of China’s national conditions, this paper studies the market-oriented reform and the transformation of capital economy existing in the regional integration of the Yangtze River Delta, summarizes the current situation faced by the Yangtze River Delta, the development goals and ideas, the improvement of the coordination system of funds, finance and taxation and the development prospects, and puts forward some targeted countermeasures according to these problems. The Yangtze River Delta region can better promote its own high-quality development under the new development pattern with the domestic great cycle as the main body and the domestic and international double cycles promoting each other.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":" 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139622313","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}
This study examines the impacts of FDI inflows on domestic investments for the East, Central and Southern Africa region. The main study problem is whether FDI inflows into the region leads to a crowding-out or a crowding-in impact on domestic investments and the mechanisms through which such impacts happens. The data was obtained from the World Development Indicators, World Bank, International Monetary Fund and Heritage Foundation for the period 1995 to 2021. Initially, the study targeted all the 25 member countries affiliated to the East, Central and Southern Africa region. However, the final sample dropped to 12 countries due to lack of data. The main empirical estimation model for the study is the fixed effects regression model that is applied for the panel data. From the main findings, the study concludes that: one, there exists a crowding-out effect on domestic investments as a result of FDI inflows into the East, Central and Southern Africa region; and two, the impacts seems to be happening through the real market as opposed to the financial market channels. Notably, the study finds the natural resource curse to be an important factor for FDI impacts for the region. Based on the foregoing conclusions, the policy implications are that reform interventions that prioritize real market may sustain benefits of FDI as the region works towards financial market reforms. Further, the region may consider prioritizing joint reform initiatives as well as national level reforms to become competitive in attracting FDI. Enhancing member states absorptive capacity, addressing problem of human capital flight and increasing investments in technology may accelerate FDI benefits innumerably for the region. Finally, there were limitations on data for some of the countries. That notwithstanding, the 12 countries analyzed offer a sufficient panel data for a credible and robust estimation results.
{"title":"An Empirical Investigation into the Impact of FDI on Domestic Investments in East, Central and Southern Africa Region","authors":"Esperance Nyinawumuntu, Patrick Muinde","doi":"10.5539/ijef.v16n2p99","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p99","url":null,"abstract":"This study examines the impacts of FDI inflows on domestic investments for the East, Central and Southern Africa region. The main study problem is whether FDI inflows into the region leads to a crowding-out or a crowding-in impact on domestic investments and the mechanisms through which such impacts happens. The data was obtained from the World Development Indicators, World Bank, International Monetary Fund and Heritage Foundation for the period 1995 to 2021. Initially, the study targeted all the 25 member countries affiliated to the East, Central and Southern Africa region. However, the final sample dropped to 12 countries due to lack of data. The main empirical estimation model for the study is the fixed effects regression model that is applied for the panel data. From the main findings, the study concludes that: one, there exists a crowding-out effect on domestic investments as a result of FDI inflows into the East, Central and Southern Africa region; and two, the impacts seems to be happening through the real market as opposed to the financial market channels. Notably, the study finds the natural resource curse to be an important factor for FDI impacts for the region. Based on the foregoing conclusions, the policy implications are that reform interventions that prioritize real market may sustain benefits of FDI as the region works towards financial market reforms. Further, the region may consider prioritizing joint reform initiatives as well as national level reforms to become competitive in attracting FDI. Enhancing member states absorptive capacity, addressing problem of human capital flight and increasing investments in technology may accelerate FDI benefits innumerably for the region. Finally, there were limitations on data for some of the countries. That notwithstanding, the 12 countries analyzed offer a sufficient panel data for a credible and robust estimation results.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":" 17","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139623812","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}
This study examines the impact of budget deficit on private investment in Cote d’Ivoire. It uses data from 1975 to 2022. Using the autoregressive distributed lag approach, the results disclose a negative relationship between deficit and private investment, providing support to the crowding out hypothesis. This suggests that high deficits driven by government expenditure slow down private investment. Estimating a threshold model, the results confirm the significance of a nonlinear relationship between deficit and private investment. The results indicate that budget deficit lower than 2.3% of GDP is positively associated with private investment. However, once the budget deficit exceeds this threshold, it turns to be neutral to private investment. Since 2020, the budget deficit is higher than the threshold of 2.3%. Therefore, policy-makers are advised to take measures reducing deficit at a level conducive to investment and economic growth. Government should improve tax revenue and restrain the growth of public expenditure while enhancing its efficiency.
{"title":"Does Budget Deficit Crowd Out Private Investment? Cote d’Ivoire As A Focus","authors":"Y. Keho","doi":"10.5539/ijef.v16n2p86","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p86","url":null,"abstract":"This study examines the impact of budget deficit on private investment in Cote d’Ivoire. It uses data from 1975 to 2022. Using the autoregressive distributed lag approach, the results disclose a negative relationship between deficit and private investment, providing support to the crowding out hypothesis. This suggests that high deficits driven by government expenditure slow down private investment. Estimating a threshold model, the results confirm the significance of a nonlinear relationship between deficit and private investment. The results indicate that budget deficit lower than 2.3% of GDP is positively associated with private investment. However, once the budget deficit exceeds this threshold, it turns to be neutral to private investment. Since 2020, the budget deficit is higher than the threshold of 2.3%. Therefore, policy-makers are advised to take measures reducing deficit at a level conducive to investment and economic growth. Government should improve tax revenue and restrain the growth of public expenditure while enhancing its efficiency.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":" 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139625077","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}
Effective corporate tax rate is a finance subject of interest to firms, policy makers and researchers. It measures level of tax burden at firm level. Thus, governments implement various investment incentives to influence effective corporate tax rate. The effective corporate tax rate in Kenya is still a problem averaging 31.3 percent for the last 10 years. Such high effective corporate tax rate militates against desired competitive corporate environment for the manufacturing sector. In the last ten years, the manufacturing sector has deteriorated to 7.4 percent contribution to gross domestic product which is less than 15 percent as envisaged in Kenya Vision 2030. This undesirable phenomenon prompted design of this study. The objective of the study was to determine the effect of investment incentives on effective corporate tax rate. The study adopted positivist philosophy and longitudinal research design. A sample of 278 firms provided secondary data for the period 2010 to 2020. Descriptive and inferential statistics were conducted using panel data regression. The study established that investment incentives are statistically significant predictors of effective corporate tax rate for manufacturing firms in Kenya. The study recommends that public policy makers should design appropriate profit based, capital investment and custom duty incentives as part of fiscal policy instruments to grow firms involved in manufacturing. The study has added to finance knowledge that fiscal policy affects corporate operations. However, there is need for further investigation on other possible investment incentives that were not covered in this study that influence effective corporate tax.
{"title":"Investment Incentives and Effective Corporate Tax Rate for Manufacturing Firms in Kenya","authors":"Silas Muyela Nganyi, Jeremiah Koori, Farida Abdul","doi":"10.5539/ijef.v16n2p68","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p68","url":null,"abstract":"Effective corporate tax rate is a finance subject of interest to firms, policy makers and researchers. It measures level of tax burden at firm level. Thus, governments implement various investment incentives to influence effective corporate tax rate. The effective corporate tax rate in Kenya is still a problem averaging 31.3 percent for the last 10 years. Such high effective corporate tax rate militates against desired competitive corporate environment for the manufacturing sector. In the last ten years, the manufacturing sector has deteriorated to 7.4 percent contribution to gross domestic product which is less than 15 percent as envisaged in Kenya Vision 2030. This undesirable phenomenon prompted design of this study. The objective of the study was to determine the effect of investment incentives on effective corporate tax rate. The study adopted positivist philosophy and longitudinal research design. A sample of 278 firms provided secondary data for the period 2010 to 2020. Descriptive and inferential statistics were conducted using panel data regression. The study established that investment incentives are statistically significant predictors of effective corporate tax rate for manufacturing firms in Kenya. The study recommends that public policy makers should design appropriate profit based, capital investment and custom duty incentives as part of fiscal policy instruments to grow firms involved in manufacturing. The study has added to finance knowledge that fiscal policy affects corporate operations. However, there is need for further investigation on other possible investment incentives that were not covered in this study that influence effective corporate tax.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"85 21","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139440649","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}
This study assesses the relationship among climate change, green finance, and financial stability annually from 2013 up to 2021 for 14 countries, focusing on emerging and developed markets. It first considers whether a country’s climate change impact financial stability, investigates whether green finance influences financial stability and how it affects climate change by using carbon dioxide emissions as proxy of climate change. Green finance has been measured by green of asset backed securities, green loans and bonds, while financial stability has been measured by Z-score. Using panel data, the findings indicate that there is a significantly negative effect of CO2 emissions on financial stability, but positive effects of green finance on financial stability in these markets, most notably through green loans. Also, this paper examines the relationship between green finance and climate change by using Kao Residual Cointegration test of countries. In the long run, green finance negatively affects carbon dioxide emissions. Furthermore, the empirical results of the robustness test of GMM are highly consistent with the main test. This study may be extended by conducting Further research to focus on the effect of CO2 emissions on financial markets with the role of financial deepening for countries.
本研究以新兴市场和发达市场为重点，对 14 个国家从 2013 年到 2021 年每年的气候变化、绿色金融和金融稳定性之间的关系进行了评估。研究首先考虑了一个国家的气候变化是否会影响金融稳定，然后以二氧化碳排放量作为气候变化的替代指标，调查绿色金融是否会影响金融稳定，以及绿色金融如何影响气候变化。绿色金融通过绿色资产支持证券、绿色贷款和债券来衡量，而金融稳定性则通过 Z 值来衡量。利用面板数据，研究结果表明，二氧化碳排放对金融稳定性有显著的负面影响，但绿色金融对这些市场的金融稳定性有正面影响，其中最明显的是绿色贷款。此外，本文还通过对各国进行 Kao 残差协整检验，研究了绿色金融与气候变化之间的关系。从长期来看，绿色金融对二氧化碳排放有负面影响。此外，GMM 稳健性检验的实证结果与主要检验结果高度一致。本研究还可通过进一步研究，关注二氧化碳排放对金融市场的影响，以及金融深化对各国的作用。
{"title":"Assessment of the Relationship among Climate Change, Green Finance and Financial Stability: Evidence from Emerging and Developed Markets","authors":"Myvel Nabil","doi":"10.5539/ijef.v16n2p51","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p51","url":null,"abstract":"This study assesses the relationship among climate change, green finance, and financial stability annually from 2013 up to 2021 for 14 countries, focusing on emerging and developed markets. It first considers whether a country’s climate change impact financial stability, investigates whether green finance influences financial stability and how it affects climate change by using carbon dioxide emissions as proxy of climate change. Green finance has been measured by green of asset backed securities, green loans and bonds, while financial stability has been measured by Z-score. Using panel data, the findings indicate that there is a significantly negative effect of CO2 emissions on financial stability, but positive effects of green finance on financial stability in these markets, most notably through green loans. Also, this paper examines the relationship between green finance and climate change by using Kao Residual Cointegration test of countries. In the long run, green finance negatively affects carbon dioxide emissions. Furthermore, the empirical results of the robustness test of GMM are highly consistent with the main test. This study may be extended by conducting Further research to focus on the effect of CO2 emissions on financial markets with the role of financial deepening for countries.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"87 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139450124","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}
The main objective of this article is to analyze the transmission of monetary policy in the WAEMU zone via the bank credit channel, using monthly data from January 1999 to December 2021. Methodologically, we apply a TVP-VAR model that allows coefficients to vary over time to reflect potential changes in time series dynamics. First, we find that the bank credit channel remains relatively weak in the union. Secondly, monetary policy shocks have evolved over time. Thirdly, the tertiary sector is relatively more responsive to monetary policy shocks than the primary and secondary sectors.
{"title":"Bank Credit Channel of Monetary Policy in the UEMOA Zone: A TVP-VAR Approach","authors":"Prao Yao Séraphin, Anzara Xavier Fabrice Méa","doi":"10.5539/ijef.v16n1p73","DOIUrl":"https://doi.org/10.5539/ijef.v16n1p73","url":null,"abstract":"The main objective of this article is to analyze the transmission of monetary policy in the WAEMU zone via the bank credit channel, using monthly data from January 1999 to December 2021. Methodologically, we apply a TVP-VAR model that allows coefficients to vary over time to reflect potential changes in time series dynamics. First, we find that the bank credit channel remains relatively weak in the union. Secondly, monetary policy shocks have evolved over time. Thirdly, the tertiary sector is relatively more responsive to monetary policy shocks than the primary and secondary sectors.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"14 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139157973","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}
The main purpose of the article is to predict the household waste generation in Jordan in the short-run using alternative methods and explain factors highly likely impacting its generation. The results of comparative analysis made by three methods – regression technique, time series modelling and the annual growth rate method – are provided. The results of time series approach take a compromised position between the other ones. It is concluded that time series modelling with the help of ARIMA(0,1,0) with drift is more reliable for the short-run forecasting of the waste generation in Jordan while the regression is more suitable for explaining the effect of input variables on an outcome.
{"title":"Forecasting of the Waste Generation in Jordan: Alternative Econometric Approaches","authors":"Omar Jraid Mustafa Alhanaqtah","doi":"10.5539/ijef.v16n2p35","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p35","url":null,"abstract":"The main purpose of the article is to predict the household waste generation in Jordan in the short-run using alternative methods and explain factors highly likely impacting its generation. The results of comparative analysis made by three methods – regression technique, time series modelling and the annual growth rate method – are provided. The results of time series approach take a compromised position between the other ones. It is concluded that time series modelling with the help of ARIMA(0,1,0) with drift is more reliable for the short-run forecasting of the waste generation in Jordan while the regression is more suitable for explaining the effect of input variables on an outcome.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"186 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139170512","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}
J. A. D. França, Sérgio Ricardo Miranda Nazaré, Eduardo Tadeu Vieira, C. Pereira, Paulo César Melo Mendes
The State as the Entity that represents the first sector of the economy, has the aim of being the provider and articulator of public policies so that the Market, as the second sector, produces utilities, generates employment and income, which are the bases for supporting economic and social policies. Failure to fulfill this mission produces losses, known as State failures, due to the lack of clarity and inclusive public policies. The market, dependent on economic policies, produces inefficiency, known as market failures. The article discusses the context of State and Market failures and partnerships with Civil Society Organizations from the perspective that partnerships can be one of the instruments to mitigate the consequences of the aforementioned failures, and aims to propose a quantitative-qualitative theoretical model to evaluate the contribution of the third sector in building the social economy, as well as evaluating the performance and sustainability of partnership projects, in the context of State and Market failures. Using academic data from the research group “Third Sector Research and Extension Laboratory - TSREL”, the model was tested and the results obtained suggest that the methodology is consistent in signaling that the project performance is efficient, effective and the partnership is sustainable, getting a robust contribution to the construction of the social economy, assisting regulators and public policy managers in monitoring the performance and sustainability of social policies.
{"title":"Public Policies and State and Market Failures Social Economy in the Context of Partnership with Civil Society Organizations","authors":"J. A. D. França, Sérgio Ricardo Miranda Nazaré, Eduardo Tadeu Vieira, C. Pereira, Paulo César Melo Mendes","doi":"10.5539/ijef.v16n1p57","DOIUrl":"https://doi.org/10.5539/ijef.v16n1p57","url":null,"abstract":"The State as the Entity that represents the first sector of the economy, has the aim of being the provider and articulator of public policies so that the Market, as the second sector, produces utilities, generates employment and income, which are the bases for supporting economic and social policies. Failure to fulfill this mission produces losses, known as State failures, due to the lack of clarity and inclusive public policies. The market, dependent on economic policies, produces inefficiency, known as market failures. The article discusses the context of State and Market failures and partnerships with Civil Society Organizations from the perspective that partnerships can be one of the instruments to mitigate the consequences of the aforementioned failures, and aims to propose a quantitative-qualitative theoretical model to evaluate the contribution of the third sector in building the social economy, as well as evaluating the performance and sustainability of partnership projects, in the context of State and Market failures. Using academic data from the research group “Third Sector Research and Extension Laboratory - TSREL”, the model was tested and the results obtained suggest that the methodology is consistent in signaling that the project performance is efficient, effective and the partnership is sustainable, getting a robust contribution to the construction of the social economy, assisting regulators and public policy managers in monitoring the performance and sustainability of social policies.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"27 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139168509","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}
Financial literacy, financial inclusion, FinTech, and the UN Sustainable Development Goals (SDGs) have thus far been scrutinized only in pairs or separately, without considering their interdependencies and impacts. This lack of examination calls for a deductive argumentative approach to comprehensively analyze all four aspects coherently. The objective is to establish a holistic framework for attaining the SDGs through financial literacy, financial inclusion, and FinTech. The argumentation reveals the existence of intricate theoretical and empirical links between all four objects of investigation. Previous silo thinking or bilateral approaches fall short of fully understanding the comprehensive effects. This paper adopts a holistic perspective, with financial literacy serving as the starting point, as it is indispensable for establishing a positive correlation between financial inclusion, FinTech, and the SDGs. Therefore, financial literacy fosters the adoption and utilization of FinTech, contributes to financial inclusion, and facilitates the achievement of the SDGs. The holistic framework can also guide policymakers in formulating recommendations. Decision-makers should adopt a comprehensive outlook encompassing all four points and prioritize the promotion and expansion of financial education.
{"title":"Moving Beyond Silo Thinking: A Deductive Analysis of Financial Literacy, Financial Inclusion, FinTech, and the UN Sustainable Development Goals","authors":"Johannes Treu","doi":"10.5539/ijef.v16n2p1","DOIUrl":"https://doi.org/10.5539/ijef.v16n2p1","url":null,"abstract":"Financial literacy, financial inclusion, FinTech, and the UN Sustainable Development Goals (SDGs) have thus far been scrutinized only in pairs or separately, without considering their interdependencies and impacts. This lack of examination calls for a deductive argumentative approach to comprehensively analyze all four aspects coherently. The objective is to establish a holistic framework for attaining the SDGs through financial literacy, financial inclusion, and FinTech. The argumentation reveals the existence of intricate theoretical and empirical links between all four objects of investigation. Previous silo thinking or bilateral approaches fall short of fully understanding the comprehensive effects. This paper adopts a holistic perspective, with financial literacy serving as the starting point, as it is indispensable for establishing a positive correlation between financial inclusion, FinTech, and the SDGs. Therefore, financial literacy fosters the adoption and utilization of FinTech, contributes to financial inclusion, and facilitates the achievement of the SDGs. The holistic framework can also guide policymakers in formulating recommendations. Decision-makers should adopt a comprehensive outlook encompassing all four points and prioritize the promotion and expansion of financial education.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"85 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139170493","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}
Jeremias Pereira da Silva Arraes, José Matias- Pereira
This essay aims to explore the emergence of new institutional theory based on the historical context of the formation of modern society with the change in basic cultural rules. It is observed that there is a change in the power to govern, which was previously given by God or inherited and now depends on the will of society. A movement of rationalization of choices emerges that end up leading to private interests. The vision of the matrix of classic sociological thinkers ends up influencing the intellectual orientations of the Western world and brings important statements to understand the organizations of modern society. The study concludes that the new institutional theory and the theory of public choice help to understand the actions of public agents in favor of their individual interests.
{"title":"New Institutionalism: Public Agents’ Choices Based on Individual Interests","authors":"Jeremias Pereira da Silva Arraes, José Matias- Pereira","doi":"10.5539/ijef.v16n1p68","DOIUrl":"https://doi.org/10.5539/ijef.v16n1p68","url":null,"abstract":"This essay aims to explore the emergence of new institutional theory based on the historical context of the formation of modern society with the change in basic cultural rules. It is observed that there is a change in the power to govern, which was previously given by God or inherited and now depends on the will of society. A movement of rationalization of choices emerges that end up leading to private interests. The vision of the matrix of classic sociological thinkers ends up influencing the intellectual orientations of the Western world and brings important statements to understand the organizations of modern society. The study concludes that the new institutional theory and the theory of public choice help to understand the actions of public agents in favor of their individual interests.","PeriodicalId":508422,"journal":{"name":"International Journal of Economics and Finance","volume":"454 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139170012","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：