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Showing papers in "International Journal of Social Economics in 2021"


Journal ArticleDOI
TL;DR: In this article, the authors explored the socioeconomic impact of the COVID-19 pandemic on Ghana's economy using a discourse analysis with data from various secondary sources to analyze the impact of pandemic from the Ghanaian perspective.
Abstract: Purpose: The world's economies are on their knees following the negative impact of the coronavirus pandemic over the past 8 months Growing number of researches has been conducted on the impact of COVID-19 pandemic on developed countries with little attention on developing countries, who are still grappling with the negative impact of the coronavirus The rationale for this study is to assess the socio-economic impact of COVID-19 on Ghana's economy and government response to the pandemic as well as policy options to revive the ailing economy Design/methodology/approach: This study explored the socio-economic impact of the coronavirus on Ghana's economy using a discourse analysis with data from various secondary sources to analyze the impact of the pandemic from the Ghanaian perspective Findings: The findings from the discourse analysis revealed that the coronavirus pandemic has negatively impacted on the socio-economic situation of the citizens of Ghana Whiles an estimated 42,000 people lost their jobs in the first two months of the pandemic in Ghana, tourist attraction sector of the country alone lost $171 million dollars in the past three months due to the partial lockdown and closure of tourism and hospitality centers in the country The study revealed that Ghana's healthcare system has been overwhelmed by the number of increasing cases in the country to extent of making use of temporary structures as isolation and treatment centers of the pandemic The study revealed that Ghana may convert these challenges posed by the COVID-19 pandemic into prospects and opportunities by investing massively in the health sector and creating support for the SMEs which creates massive employment for many Ghanaians Research limitations/implications: This study focuses on the impact of the COVID-19 on Ghana's economy and how the pandemic has negatively affected the country The study is an exploratory study that makes use of secondary data However, conducting a study with primary data sources from specific communities or regions in the country may not produce the same results The results from the primary level or community level may be different from the general results obtained from the study In future it is expected that the study focuses specifically on the extent of the coronavirus pandemic on Ghana's fiscal deficit which seems to have ballooned in recent times Originality/value: The study is the first of its kind to extensively explore the socio-economic impact of the COVID-19 pandemic on the Ghanaian economy The novelty of this paper is that it recognizes governments response to the pandemic and proposes three practical measures adopted to put the country's economy back on its feet through survive, revive and ensuring growth in all sectors of the economy © 2021, Emerald Publishing Limited

34 citations


Journal ArticleDOI
TL;DR: In this paper, the authors explored the determinants of financial inclusion and examined the effect of the financial inclusion on the financial well-being of marginalized street vendors in India by using Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM).
Abstract: The study attempts to explore the determinants of financial inclusion. Subsequently, it examines the effect of financial inclusion on financial well-being of marginalized street vendors in India.,The demand-side analysis of measuring financial inclusion with a sample of 371 marginalized street vendors is adopted. Both exploratory and descriptive research designs are employed in this study. The primary data collection is done by administering the structured interview schedule by using a convenience sampling technique. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) are performed to describe the latent constructs and their hypothetical relationships with adequate empirical evidence.,Out of five dimensions of financial inclusion considered for the study, accessibility, availability, usage and affordability are found to be significant determinants of financial inclusion; however, the financial literacy dimension is found statistically insignificant. Further, the study results confirm that financial inclusion contributes substantially to the well-being of marginalized street vendors.,The outcome of the study will facilitate all the stakeholders including policymakers and financial institutions to enact policy guidelines to ensure financial well-being of the marginalized street vendors through financial inclusion initiatives.,Financial well-being through financial inclusion is possible even without the effect of financial literacy from the unorganized sector perspective specifically marglianized street vendors. Thus, it adds new dimension to the existing literature on demand side analysis of measuring financial inclusion.

21 citations


Journal ArticleDOI
TL;DR: In this paper, the authors used bibliographic data of 1,252 scientific documents indexed in the Scopus database from 1995 to 2020 (June 05) to assess the knowledge structure of research in this area and to aid future research, they reviewed the literature with bibliometric analysis.
Abstract: Performance assessment of microfinance institutions (MFIs) has long been a question of considerable research interest. The dual goals – financial performance and social performance of MFIs widely studied yet remain unsolved in the existing literature. To assess the knowledge structure of research in this area and to aid future research, we review the literature with bibliometric analysis.,Our study has used bibliographic data of 1,252 scientific documents indexed in the Scopus database from 1995 to 2020 (June 05). We have used the “bibliometrix” package in R language to analyze the data and illustrate the findings.,We find that there has been an increasing trend in publications, especially from 2006 onwards. Various bibliometric indicators allow us to follow the progression of knowledge along with identifying the most contributing and impactful authors, publication sources, institutions and countries. We illustrate the major research themes and identify that “poverty alleviations”, “group lending” and “credit scoring” are the major emerging and specialized themes besides the basic research evolved around “microfinance” or “microcredit”. Our further analysis of thematic evolution over different time frames reveals that “financial performance” aspect is getting more attention in recent times in evaluating the performance of MFIs.,The insights of knowledge accumulated from our bibliometric review and thematic analysis provide researchers with an efficient comprehension of the advancement of the research on microfinance performance and offer avenues for future scientific endeavors.

17 citations


Journal ArticleDOI
TL;DR: In this article, a survey-based questionnaire was used to elicit information from a total of 500 working adults from Malaysia to assess the impact of psychological beliefs (subjective financial knowledge, financial attitude and locus of control) on financial well-being, as well as the mediating role of financial behaviour in the relationship between psychological beliefs and financial wellbeing among working adults in Malaysia.
Abstract: This study aimed to assess the impact of psychological beliefs (subjective financial knowledge, financial attitude and locus of control) on financial well-being, as well as the mediating role of financial behaviour in the relationship between psychological beliefs and financial well-being among working adults in Malaysia.,A survey-based questionnaire was used to elicit information from a total of 500 working adults from Malaysia. Partial least squares structural equation modelling (PLS-SEM) was used to assess the measurement model and the proposed mediation model.,The results showed that subjective financial knowledge, financial attitude and locus of control have a positive impact on both financial behaviour and financial well-being. The results also showed that financial behaviour mediates the relationships between financial attitude and financial well-being, as well as between locus of control and financial well-being.,Given the anticipated global economic recession, a better understanding of how individuals manage their finances becomes ever more crucial. The findings from this research inform policymakers, practitioners and academics on the importance of psychological factors and financial management practices on financial well-being, addressing an identified gap in the current literature.

16 citations


Journal ArticleDOI
TL;DR: In this article, the authors investigated the impact of financial inclusion at the microeconomic level, by focusing on six major issues: determinants of monetary inclusion, links between individual characteristics and barriers to financial inclusion, determinant of mobile banking use, motivations for saving, credit objectives and determinants for resorting to informal finance.
Abstract: This study has a dual purpose. The first is constructing a financial inclusion index to investigate if the reforms implemented during the last decades at the macroeconomic and sectoral levels have contributed to increase the financial inclusion level in Morocco. The second is to deepen the investigation to explore the impact of these reforms at the microeconomic level, by focusing on six major issues: determinants of financial inclusion, links between individual characteristics and barriers to financial inclusion, determinants of mobile banking use, motivations for saving, credit objectives and determinants of resorting to informal finance.,First, the principal component analysis methodology is mobilized to construct a financial inclusion index for Morocco. Second, the probit model methodology on a micro-level database of 5,110 Moroccan adults is used.,First, the financial inclusion index shows that financial inclusion in Morocco over the last two decades has followed different trends. The first period (1999–2004) was characterized by a slight upswing in the level of financial inclusion. In the second period (2004–2012), the level of financial inclusion increased significantly. During the third period (2012–2019), the financial inclusion maintained almost the same level. Second, empirical results showed that the determinants of formal finance and mobile banking are different from those of informal finance. Having a high educational attainment and being a participant in the labor market fosters financial inclusion. Concerning financial exclusion determinants, the results emphasized that a high educational attainment reduces the barriers leading to voluntary exclusion. As income level increases, barriers of involuntary exclusion such as “lack of money” become surmountable. Although "remoteness" and "high cost" are the major barriers to financial inclusion of all Moroccan social classes, the development of mobile banking allows to eliminate, smoothen and/or loosen all barriers sources of involuntary exclusion. As for the barriers causing voluntary exclusion, the Islamic finance model constitutes a lever for the inclusion of population segments excluded for religious reasons. As for the determinants of the recourse to informal finance, being a woman, an older person and having a low educational level (no more than secondary education) increase the probability to turn to informal finance.,The main limitation of this study is the non-availability of data on the two dimensions (quality and welfare) of financial inclusion. The composite index is constructed on the basis of two dimensions (access and use) for which data are available.,This study has three main implications. In practice, with the launching of the National Strategy for Financial Inclusion, this work provides empirical grounded evidence that contributes to design financial inclusion policies in Morocco. In research, while the debate on financial inclusion, mobile banking and informal finance has been raging in recent years, Morocco, like many other African countries, has not received coverage on these topics at the household level.,For society, this study provides considerable insight about the segments of population that are financially excluded and the main reasons for their exclusion.,This study enriches the existing literature with four essential contributions. First, it analyzes the evolution of the level of financial inclusion in the Moroccan economy through the development of a synthetic index. Second, it is the first to study the Moroccan population's financial behavior on the basis of micro-level data, which will help understand more precisely their financial behavior and the main obstacles to their inclusion. Third, this study explores the determinants of the use of mobile banking. Fourth, it sheds some light on the main determinants of the recourse to informal finance.

15 citations


Journal ArticleDOI
TL;DR: In this paper, the impact of financial inclusion on economic development of marginalized communities through the mediation of socio-economic empowerment has been examined in Jammu district of J and K by using purposive sampling technique.
Abstract: The purpose of this paper is to check the impact of financial inclusion on economic development of marginalized communities through the mediation of socio-economic empowerment.,In order to fulfil the objectives of the study, primary data were collected from 382 bank customers belonging to marginalized communities breathing in Jammu district of J and K by using purposive sampling technique. The data were collected during the month of April–August 2020. Multivariate statistical techniques such as EFA, CFA and SEM were used for data analysis and scale purification.,The study’s results reveal that financial inclusion has a direct and significant impact on economic development of marginalized communities through the mediation of social and economic empowerment. The study highlights that despite various initiatives taken by the government towards financial inclusion, there is a denial from the financial institutions to extend the credit to the marginalized communities due to lack of education, illiteracy, lack of awareness, attitude of bankers and policy directions to the banking sector, which confine these communities to feel proud, dignified, confident and self-reliant to face any financial crisis.,First the in-depth analysis of the study is restricted to Jammu district only that restricts the generalization of the results to the whole population of J and K. Second, the data were collected from respondents belonging to marginalized communities only. Third, comparative study of marginalized households who are covered under the financial inclusion drive and those who are still financially excluded has not been done yet. Fourth, the questionnaire approach was the only way to gather primary data and thus, the results might have a common-method bias.,The study makes contribution in the direction of financial inclusion narrative relating to socio-economic empowerment and economic development of marginalized communities. It looks into how for the socio-economic aspects of marginalized communities influence their exclusion from the financial system of the country. The study also provides valuable insights for the policymakers, researchers and academicians both at the countrywide and intercontinental level to devise and put into practice programmes that will widen right to use financial products and services leading to cutback of poverty incidence, income parity, social and economic empowerment, economic development and reduction in caste and gender based discrimination.

14 citations


Journal ArticleDOI
TL;DR: In this article, the effect of the COVID crisis on consumer stocking and impulse buying behavior was investigated using structural equation modelling, and the results showed that the impact of the crisis did have a significant impact on consumer behavioural patterns.
Abstract: Purpose: The current study investigates how consumers are reacting to the COVID-19 pandemic. The study aims to explain consumers' stockpiling and impulse buying behaviour during the current crisis. Design/methodology/approach: Based on the scope and focus of this study, our primary data collection tool was an online survey questionnaire that was sent to 1,000+ people and the results were computed from 417 responses received. The study employed Exploratory Factor Analysis to substantiate the construct validity of the constructs. Unidimensionality, validity and reliability of the model were assessed using confirmatory factor analysis. The effect of the COVID crisis on consumer stocking and impulse buying behaviour was investigated using structural equation modelling. Findings: The findings show that the COVID pandemic did have a significant impact on consumer behavioural patterns indicated by the stocking and impulse buying behaviour of consumers. Practical implications: These results have consequences for policymakers and practitioners in terms of adjusting inventory and response policies, especially in terms of efficient supply chain management processes and actively reaching out to customers to reduce their fear and anxiety levels, which contribute to such panic activity. Originality/value: This paper adds value to the literature on consumer behaviour during COVID-19 pandemic in case of Indian consumers. The findings of the paper will help in doing a comparison of the said behaviour of consumers in other parts of the world. The paper also helps in explaining the underlying theories elucidating such behaviour of consumers. © 2021, Emerald Publishing Limited.

14 citations


Journal ArticleDOI
TL;DR: In this article, the authors attempted to assess the food security status of urban agriculture households in Ghana and India by using the Household Food Insecurity Access Scale, whereas the determinants of the extent of urban agricultural participation and its effect on food security were analyzed by the use of the heteroskedastic linear regression and the Seemingly Unrelated Regression models, respectively.
Abstract: The study attempted to assess the food security status of urban agriculture households in Ghana and India. Also, the extent of urban agriculture participation and its effect on food security in Ghana and India were examined.,A total of 650 urban agriculture farmers were interviewed for this study in Ghana and India. Food security status of urban households was assessed by the use of the Household Food Insecurity Access Scale, whereas the determinants of the extent of urban agriculture and its effect on food security were analysed by the use of the heteroskedastic linear regression and the Seemingly Unrelated Regression models, respectively.,From the study on average, households in Ghana were mildly food insecure, but that of India was moderately food insecure. The results further revealed that various demographic, economic, institutional and health and nutrition factors differently influenced urban food security and urban agriculture. Also, the extent of urban agriculture participation positively influenced food security.,Several studies in Asia (India) and Africa (Ghana) on urban food security have been geographically limited to New Delhi, Mumbai and Greater Accra, with few studies in the Middle Belt of Ghana, and Bihar in India. Besides, there is a limited, rigorous, empirical study on the effect of the extent of UA on food security in Asia (India) and Africa (Ghana) individually and together. Moreover, we extend the frontiers of the methodological approach by applying the Seemingly Unrelated Regression (SUR) model to understand if the factors that affect food-security accessibility based on two food security accessibility tools are correlated.

13 citations


Journal ArticleDOI
TL;DR: In this paper, the authors examined the psychological impact of adequate compensation, which is one of the dimensions of the Decent Work Scale (DWS) evaluated within the psychology of work theory (PWT), on other dimensions of DWS in teachers working in public and private schools in Turkey.
Abstract: PurposeThe purpose of this work is to examine the psychological impact of adequate compensation, which is one of the dimensions of Decent Work Scale (DWS) evaluated within the psychology of work theory (PWT), on other dimensions of DWS in teachers working in public and private schools in Turkey.Design/methodology/approachIn this study, DWS developed by Duffy et al. was used. In total, 175 private school teachers and 216 public school teachers participated in the study. The data were analyzed with LISREL 8.7 and SPSS 23.0 package programs.FindingsConsidering the structural equation model formed by the sub-dimensions of the DWS and the path diagrams related to the model, it was seen that the “adequate compensation” dimension made a significant difference in “access to health services” on both public and private school teachers. In private school teachers, there is a significant relationship between the dimension of adequate compensation and “access to healthcare”, “physically and interpersonally safe working conditions”, “free time and rest” and “organizational values that complement family and social values”. However, a significant relationship was not found between the variables other than “access to healthcare” in public school teachers. According to the results of the “Independent Sample T-Test”, there is a significant mean difference between the perceptions of teachers working in public and private schools. When this difference is examined, it was seen that teachers working in public schools have a higher level of good job perception than teachers working in private schools.Research limitations/implicationsDWS is a newly developed scale and has been used in a limited number of studies. It is a scale open to be developed and used with different sample groups.Originality/valueApplication of DWS to teachers working in Turkey is one of the fundamental features that distinguish this study from other studies in this area. In addition, the evaluation of the psychological effects of the adequate compensation dimension, which is an important study factor, on the other dimensions of DWS adds originality to the study. It is predicted that this research will fill the deficiency in the relevant literature.

13 citations


Journal ArticleDOI
TL;DR: In this article, the authors explore the relationship between farmers' happiness and farm productivity, taking maize production in China as an example, and provide the first empirical analysis of the impact of farmworkers' happiness on farm productivity.
Abstract: PurposeThe purpose of this study is to explore the relationship between farmers' happiness and farm productivity, taking maize production in China as an example.Design/methodology/approachThe conditional mixed process model is employed to account for the endogeneity that inevitably arises in regression models studying happiness and estimate the 2015 China Household Finance Survey data.FindingsThe empirical results show that a higher level of farmers' happiness is associated with higher maize productivity. The marginal return in maize productivity changes unevenly with increments in farmers' self-reported happiness on a five-point Likert scale. Farmers' happiness is positively determined by their age, educational level, farm size, machinery ownership, access to agricultural subsidy and car ownership. Machinery ownership and access to credit are two important factors that improve maize productivity.Research limitations/implicationsThe finding suggests that promoting the subjective well-being of farmers is conducive to higher productivity and improved national food security. The results have implications for China and other developing countries aiming for sustainable agricultural development.Originality/valueFirm-level data show that workers' happiness improves productivity. However, it is still unclear whether farmworkers' happiness affects farm productivity. Thus, this study provides the first empirical analysis of the impact of farmworkers' happiness on farm productivity.

12 citations


Journal ArticleDOI
TL;DR: In this paper, five distinct clusters of emerging farmers are identified, using variables related to farmers' characteristics, income and expenditure and farm production indicators and willingness to participate in land redistribution, and discussed in light of a predefined selection criteria that is based on the current policies and scholarly thinking.
Abstract: Understanding diversity amongst potential beneficiaries of land redistribution is of critical importance for both design and planning of successful land reform interventions. This study seeks to add to the existing literature on farming types, with specific emphasis on understanding diversity within a sub-group of commercially oriented or emerging smallholders.,Using a multivariate statistical analysis – principal component and cluster analyses applied to a sample of 442 commercially-oriented smallholders – five distinct clusters of emerging farmers are identified, using variables related to farmers' characteristics, income and expenditure and farm production indicators and willingness to participate in land redistribution. The five clusters are discussed in light of a predefined selection criteria that is based on the current policies and scholarly thinking.,The results suggest that there are distinct differences in farming types, and each identified cluster of farmers requires tailored support for the effective implementation of land reform. The identified homogenous sub-groups of smallholders, allows us to understand which farmers could be a better target for a successful land redistribution policy.,Most of the existing typology studies in South Africa tend to focus on general smallholders and in the Eastern Cape province; this study extends the literature by focussing on specific prime beneficiaries of land reform in three provinces. This study uses a more detailed dataset than the Statistics general and agricultural household surveys.

Journal ArticleDOI
TL;DR: In this paper, the authors examined the relationship between the rules that a cooperative membership decides upon and members' motives for action, and found a linkage between individual self-interest and motives.
Abstract: This study aims to examine the relationships between the rules that a cooperative membership decides upon and members' motives for action. It considers individual self-interest in relation with motives that are consistent with the values of cooperation.,This paper comprises two parts. The first is theoretical and discusses cooperative governance's features in the context of individual motives. The second part is empirical and based on survey data from Italian multistakeholder, worker-run social cooperatives. It uses cross-sectional data gathered from 4,134 workers and 310 managers in 310 cooperatives in Italy to provide evidence of rules and individual motives. Regression analysis confirms the existence of a linkage between individual self-interest and motives.,Rules mainly, but not exclusively, play an enabling function, which implies responding to both nonmonetary and monetary individual motives. With greater articulation within institutions – through the definition of multiple rights for accessing decision-making – the authors expect increases in individual capabilities to match motives with specific organizational rules in pursuit of consistent ends. This is confirmed by the association that the authors found between individual motives and commitment.,The authors’ illustration is limited to one specific type of cooperative, the social cooperative, in which prosocial motives are expected to be stronger than in other cooperative forms, although one could say that all cooperative models emphasize procommunity and prosocial aims. Data are cross-sectional and do not allow for the identification of causality, only of statistical relations' strength.,The continuous scrutiny and adaptation of motives and means imply that cooperators communicate and engage in a learning process.,While the institutional spheres that support investor-owned organizations and self-interested profit-maximizing behavior have been analyzed, a framework that accommodates personal control rights and a richer view of individual motives is lacking. The value added from the paper is to suggest one.

Journal ArticleDOI
TL;DR: The factors that affect the number of coronavirus (COVID-19) deaths among low-income and high-income countries and how these factors are related to poverty and inequality are studied.
Abstract: We study the factors that affect the number of coronavirus (COVID-19) deaths among low-income and high-income countries Low-income countries report a significa

Journal ArticleDOI
TL;DR: In this article, the authors investigated factors affecting Vietnamese farmer's intention toward organic agricultural production based on research model integrating theories: theory of planned behavior (TPB) and norm activation model (NAM).
Abstract: The purpose of this paper is to investigate factors affecting Vietnamese farmer's intention toward organic agricultural production based on research model integrating theories: theory of planned behavior (TPB) and norm activation model (NAM).,After in-depth interviews with 5 agricultural researchers and 5 farmers, the authors determined the official research model and built a complete survey. Data were collected from 318 farmers in the Hanoi, Vietnam by directly survey. Statistical methods, such as Cronbach's alpha analysis, exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modeling (SEM), were used to analyze the data.,This paper shows that attitude, subjective norms, perceived behavioral control and personal norm were significantly related to intention of the farmers; awareness of consequences was positively related to ascription of responsibility, personal norm, attitude and subjective norms; ascription of responsibility has a positive relationship with personal norm. The TPB-NAM integration model is proven to be superior to the original TPB model when studying factors affecting Vietnamese farmer's intention toward organic agricultural production.,The main limitation of this paper is that the sampling method is not representative for the whole country and just stops at researching the intentions of farmers without understanding the practices of organic agricultural production.,The findings indicate that state management agencies in Vietnam need to pay attention to raise awareness among farmers about the role of organic farming, communicate to farmers through different channels about the benefits of organic farming compared to conventional agriculture and form information spillover groups between farmers who have produced organic agriculture and have not yet produced organic agriculture.,This paper contributes to the existing literature by focusing on integrating TPB and NAM when understanding farmers' intention toward organic agricultural production in Vietnam. This integrated model has proven the suitability of combining two approaches, a rational approach and an ethical approach, when studying farmer intentions.

Journal ArticleDOI
TL;DR: In this paper, the authors used Fuzzy analytical hierarchy process (F-AHP) to prioritize or rank the factors responsible for determining environmental responsibility among young consumers, including knowledge and awareness, attitude, green consumer value, emotional affinity toward nature, willingness to act and environment-related past behavior.
Abstract: From the last few decades, environmental issues have become a global concern. Consumption activities are given much attention in the marketing literature, whenever the question about protecting the environment arises. The responsibility of the consumer toward the environment is a major concern and the purpose of this study is to prioritize factors responsible for determining environmental responsibility among young consumers. This research will provide valuable insights to the marketers in targeting those particular areas which according to young consumers are highly ranked/prioritized for being environmentally responsible.,In this study, data were collected from 400 young consumers from Punjab and Chandigarh. Fuzzy analytical hierarchy process (F-AHP) was applied to prioritize or rank the factors on the basis of significance for being environmentally responsible. The primary factors considered for further analysis were knowledge and awareness, attitude, green consumer value, emotional affinity toward nature, willingness to act and environment-related past behavior.,Results of the study depicted knowledge and awareness as the highest-ranked and prioritized factor for young consumers to become environmentally responsible, while environment-related past behavior emerged as the least important factor for consumers' environmental responsibility.,Data were collected from the young consumers of Punjab and Chandigarh only and only a few factors of consumers' environmental responsibility were considered for further analysis which depicts the limitation of the study.,The research study is highly useful for the government and the business firms to target the highly prioritized factors of environmental responsibility which will promote green consumption practices and behavior among young consumers.,Previous researches have explored the factors of environmental responsibility and modeled their relationships. However, the present study has employed the multi-criteria decision-making technique to provide valuable insights for marketers, academicians and practitioners about the drivers of consumers' environmental responsibility which adds value to the existing knowledge base.

Journal ArticleDOI
TL;DR: In this paper, the authors adopted a quantitative approach based on data collected through a survey on information literacy in Kemaman Smart Community (KSC) development project, and the logit behavioural model and structural equation model were adopted as a quantitative technique to verify the objective of the study.
Abstract: In light of the rapid evolution of information and communication technology (ICT), every society is faced with many issues such as social exclusion, inequality and the digital divide. Hence, there is need to solve these complex challenges without comprising any development objective. A practical solution in this regard includes establishment of a sustainable model of community development. Therefore, this paper aims to identify the role of education in promoting the awareness on the use of ICT-based infrastructure among the general public to enhance their socioeconomic status. In addition, this study sets out to establish the nexus between socioeconomic status, ICT programme as well as the awareness of Kemaman Smart Community (KSC) development project.,This paper adopted a quantitative approach based on data collected through a survey on information literacy in KSC. The logit behavioural model and structural equation model were adopted as a quantitative technique to verify the objective of the study.,The result of the logit behavioural model showed that education, income and age have a positive impact on the KSC programme awareness. The SEM models revealed that income level and education (especially at the tertiary level) significantly enhance the awareness of KSC project. On the contrary, poverty remains regressive towards the community awareness of KSC programmess,Information literacy and knowledge-based programme promote a more inclusive development approach. Moreover, education, socioeconomic status, information literacy and knowledge-based programme are essential to develop a smart community towards achieving a high-income nation status. Future replication of smart community project in other parts of Malaysia may need to consider these factors for a comprehensive community development strategy.,KSC is the first smart city initiative by the government of Malaysia. Besides, primary data were used in this study. The findings of the study will provide academics and policymakers a better understanding of the smart city initiative.

Journal ArticleDOI
TL;DR: This study becomes the first to use death rate, infant mortality rate and under-five mortality rate in examining the effect of population health on FDI inflows, which aids in revealing whether FDI is sensitive to the population health indicator used.
Abstract: Ghana is one of the countries instituting several measures toward attracting more Foreign Direct Investment (FDI) inflows. This is because, FDI is largely viewed as essential to socioeconomic development. However, while population health can influence FDI inflows, it has received very little attention. This study, therefore, investigates empirically, as to focusing on population health could be a useful tool in Ghana’s attempt to attract more FDI inflows.,The study uses time series data on Ghana from 1980 to 2018 to achieve its objective. Life expectancy, death rate, infant mortality rate, under-five mortality rate and incidence of malaria are used as proxies for population health, while the Ordinary Least Square (OLS) and the Instrumental Variable Two-Stage Least Square (IV2SLS) regressions are employed as empirical estimation techniques.,Using the OLS regression, except the incidence of malaria, the study finds all the other population health indicators to significantly influence FDI inflows. However, after controlling for endogeneity using the IV2SLS regression, all population health indicators are found to be significant as regards their effects on FDI inflows.,Paying attention to population health could be an effective strategy that can be employed by policymakers in the quest to get more FDI inflows into Ghana.,This study, to the best of our knowledge, is the first study solely devoted to Ghana, which doing so helps in devising country-specific policies with regard to the effect of population health on FDI inflows. Further, this study becomes the first to use death rate, infant mortality rate and under-five mortality rate in examining the effect of population health on FDI inflows. Thus, since there are various causes of deaths, using indicators that capture deaths from all factors helps in giving a much broader picture with regard to the FDI population health nexus. Also, this study is the first to use up to five different population health indicators in examining the effect of population health on FDI inflows, which aids in revealing whether FDI is sensitive to the population health indicator used.

Journal ArticleDOI
TL;DR: The result of this study shows that all forms of health expenditures significantly influenced health outcomes, and there is a negative relationship between health expenditure, infant mortality and under-five mortality, but a positive relationship betweenhealth expenditure and life expectancy at birth.
Abstract: Despite the global attempt at achieving goal 3 of the Sustainable Development Goals by improving health outcomes, some countries (West African countries inclusive) still do not spend a significant proportion of their income on health and they exhibit health outcomes that are still far below that of developed countries. Besides countries like Nigeria, Chad and Guinea-Bissau are experiencing worsening insecurity and political instability. This study, therefore, examines the effect of health expenditure on three health outcomes in the West African sub-region, while investigating the effect of the quality of governance in this nexus.,This study conducts an instrumental variable approach (two-stage least squares regression) on a panel of 15 West African countries over the period 2000–2018. This study uses three proxies to measure health outcomes and six measures of the quality of governance were also considered.,The result of this study shows that all forms of health expenditures significantly influenced health outcomes. That is, there is a negative relationship between health expenditure, infant mortality and under-five mortality, but a positive relationship between health expenditure and life expectancy at birth. Besides, the general effect of the same quantity of public health spending is subject to the quality of governance because countries with a higher quality of governance benefit better from their public health spending.,This study, to the authors' knowledge, is the first empirical attempt to examine the role of governance in the health expenditure-health outcomes nexus in 15 ECOWAS countries, using different measures of health outcomes and governance.

Journal ArticleDOI
TL;DR: In this article, the authors examined the barriers to formal financial inclusion, focusing on saving and credit strands, and proposed the probit model, allowing distinguishing the outcome variable into three categories: formal inclusion, informal inclusion and financial exclusion.
Abstract: This paper aim to fill the gaps by looking for the determinants and barriers related to financial inclusion. This study assesses the effect of socio-demographic variables on the use of formal financial inclusion services.,This article examines the barriers to formal financial inclusion, focusing on saving and credit strands. The authors propose the probit model, allowing distinguishing the outcome variable into three categories: Formal inclusion, informal inclusion and financial exclusion. The authors apply this model to the Findex 2017 survey data.,Estimation results propose that the trust to financial institutions, the distance to banks, the lack of documentation and the service costs are the main barriers, but these barriers affect the probability of using formal financial services differently according to the types of financial services (saving or credit).,To advance the formal financial inclusion in Tunisia, the authors call for continuing promoting financial literacy among adults and the young population, which helps them understand the benefits of using formal financial services. Financial literacy throws in constructing the individual trust toward the financial sector in a country that experienced several decades of political and economic instability.,Financial inclusion promotes growth through a broadening of the system and technology that can be a major catalyst for greater financial inclusion. It helps in the overall economic development of the underprivileged population and contributes to poverty reduction. It can also enhance the security of payments, and thus lower the incidence of associated crime.

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TL;DR: In this paper, the authors investigated the effect of female CEOs on corporate innovation using Indonesian companies and found that firms led by female CEOs exhibit a greater probability of being innovators than those led by male CEOs.
Abstract: We investigate the effect of female CEOs on corporate innovation using Indonesian companies. More specifically, this paper aims to answer the following research questions. First, do firms led by female CEOs innovate more or less than firms led by male CEOs? Second, does firm size positively moderate the effect of CEO gender on corporate innovation? Our research questions imply that female CEOs' innovative performance likely depends on the size of their firms.,Because the dependent variable is a dummy that equals one if the firm was an innovator and zero otherwise, this study employs probit analysis to test the hypotheses empirically. As an alternative test, we use a different measure of the dependent variable (INNOV-corporate innovation) by summing the firm's responses (yes/no) to nine innovation-related questions. Because this alternative measure of INNOV exhibits a count-data characteristic with non-negative integer values and more than 70% of the total sample did not engage in innovation activities at all, this study relies on the zero-inflated Poisson regression in the robustness test.,We have shown that firms led by female CEOs exhibit a greater probability of being innovators. Further, firm size increases the positive effect of female CEOs on firms' probability of engaging in innovation activities. Further, we also find that when female CEOs manage women-owned firms, their firms are more likely to engage in innovation activities.,This study cannot further investigate the causal relationship between CEO gender and corporate innovation (e.g. by analyzing whether CEOs with different gender affects firm innovation) because it relies on the World Bank Enterprise Survey data. Nevertheless, this study suggests that stakeholders, especially in developing countries like Indonesia, need to encourage more women to hold CEO positions, especially in larger firms, because women-led firms perform better in innovation activities.,Our study thus highlights that female CEOs outperform their male counterparts in innovation activities. These results support the argument that because of gender-based discrimination that they receive, female CEOs are greatly motivated to exhibit greater innovation performance. Further, it is more difficult for women to hold the CEO positions in larger firms because of these firms' more intense managerial job market.

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TL;DR: In this paper, the authors identify the antecedents of entrepreneurial intentions among females in India using the theory of planned behaviour, based on the Adult Population Survey (APS) of the Global Entrepreneurship Monitor (GEM), which has covered 1,683 female respondents from India.
Abstract: This paper aims at identifying the antecedents of entrepreneurial intentions among females in India using the theory of planned behaviour.,This study is based on the Adult Population Survey (APS) of the Global Entrepreneurship Monitor (GEM), which has covered 1,683 female respondents from India. The data has been analysed using simple techniques such as chi-square statistics and logistics regression. The antecedents of entrepreneurial intentions have been identified using the theory of planned behaviour.,About 20% of the adult females have reported intention for starting an entrepreneurial venture in the country. A significant relationship emerged between the demographics of females with and without intention towards entrepreneurship. The results showed that there is a positive and significant effect of attitudes towards the behaviour, subjective norms and perceived behavioural control to the entrepreneurial intentions among females.,This paper provides insights on factors affecting entrepreneurial intention among females and helps in developing a policy framework for promoting new ventures among female entrepreneurs. This also explores the possibility of future research on entrepreneurial intention in the Indian context.,Considering the current focus of the government in India for promoting new ventures, this piece of research can be valuable for different stakeholders in adopting a gender-based approach in implementing inclusive entrepreneurial initiatives.

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TL;DR: In this paper, the authors examined the gains, challenges and determinants of electronic banking adoption in Nigeria and applied the generalized structural equation modelling (GSEM) to a large sample of respondents surveyed from five of the six geopolitical zones of Nigeria.
Abstract: The purpose of this study is to examine the gains, challenges and determinants of electronic banking adoption in Nigeria.,This paper applied the generalized structural equation modelling (GSEM) to a large sample of respondents surveyed from five of the six geopolitical zones of Nigeria to model the determinants of electronic banking. In addition to many other advantages, GSEM can be used as a likelihood function. As a result, this paper proposes GSEM as the most appropriate tool for modelling the socioeconomic determinant of electronic banking adoption.,About three-quarter of respondents adopted at least a form of electronic banking. However, only a tenth of users used e-banking for purchase of goods or services, implying low electronic payment adoption. The low adoption of electronic payment was due to poor digital security infrastructure which made users vulnerable to widespread electronic frauds. The findings also show that the adoption of e-banking platforms or services was characterized by users' socioeconomic status. For example, the odds of adopting internet/mobile banking decreases with older users but increase with higher educational attainment and income, whereas the odds of adopting e-banking platforms such as short message service (SMS) and point of sale (POS) banking increases with older users and informally employed users respectively.,For a sustainable cashless economy and financial inclusion in Nigeria, policy consolidation that provides safe e-banking services is necessary. Also, e-banking service providers should deliver specific contents and services that match the physical and economic characteristics of users.,Generalized structural equation modelling (GSEM) is a robust likelihood function method that combines the power of structural equation modelling with the generalized linear model. The application of GSEM to predict the likelihood of adopting a banking technology or Service has not been explored in electronic banking literature. Also, as a fast-growing economy with a heterogeneous population, Nigeria presents an interesting context to study the determinants of electronic banking.

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TL;DR: A systematic literature review (SLR) of peer reviewed journal articles was carried out by the authors in well-known databases, such as Scopus, Emerald, ScienceDirect, Google Scholar, IDEAS/RePEc search and Web of Science.
Abstract: PurposeLiterature contributions to agricultural cooperative (AC) entrepreneurship model are fragmented and show some significant limitations. The purpose of this paper is to identify the existing important barriers to this entrepreneurship model as well as to group them into respective themes.Design/methodology/approachA systematic literature review (SLR) of peer reviewed journal articles was carried out by the authors in well-known databases, such as Scopus, Emerald, ScienceDirect, Google Scholar, IDEAS/RePEc search and Web of Science. In total, 78 articles from 26 different countries during 2010–2019 were collected.FindingsA large number of important barriers are identified in the literature and meaningful dimensions of these barriers are also revealed.Practical implicationsThe study has important implications regarding the ways to improve the effectiveness of AC model. Researchers and practitioners can use the results presented in this study for further development of this model.Originality/valueThis study presents the important barriers in AC model in global scope analytically and groups them into meaningful themes, which significantly differentiate the present SLR study from those published so far.

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TL;DR: In this article, the authors examined the impact of financial institutions access and financial institutions depth on economic growth in 51 low and lower-middle-income countries from 1996 to 2017 and found that both financial access and finance depth are positive to economic growth.
Abstract: This study examines the impact of financial institutions access and financial institutions depth on economic growth in 51 low- and lower–middle-income countries from 1996 to 2017.,The study employs an index of financial institutions depth and financial institutions access that considers the multidimensional nature of finance. The study employs a generalised least squares model as the baseline fixed effects model suffers from serial correlation. In addition, the study examines the marginal impact of financial development on growth at varying levels of financial access.,The results show that both financial access and financial depth are positive to growth. However, the marginal impact of financial depth is negative at low levels of financial access, while the finance–growth relationship becomes positive at higher levels of financial access. Results suggest the importance of developing inclusive financial systems that emphasise quality rather than quantity to promote economic growth.,The major limitation lies in the measurement of financial access as it focusses more on financial system penetration and overlooks the other aspects of financial inclusion such as financial literacy and cultural differences.,Developing countries should continue to develop an inclusive financial system that supports the Universal Financial Access 2020 initiative.,This study provides further empirical evidence on the finance–growth literature focussing on the impact of financial inclusion which is scarce. Furthermore, the study employs an index of finance that captures the multidimensional nature of finance.

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TL;DR: In this article, the authors aimed at testing the validity of the BARS theory and determining the threshold level at which excessive government expenditure hampers economic growth, where the size of the government expenditure was found to be a 27.84% share of GDP, above which government expenditure caused growth to decline in African emerging economies.
Abstract: This study is aimed at testing the validity of the BARS theory and determining the threshold level at which excessive government expenditure hampers growth. The data from 10 African emerging economies from 1988 to 2019 were used.,The methodology comprises several different stages. In the first stage, an Lagrange Multiplier (LM) type test was employed to find the appropriate transition variable among all the candidate variables to assess the linearity between government expenditure and economic growth and to find the sequence for selecting the order m of the transition function. The linearity test helped to identify the nature of the relationships between government expenditure and economic growth. In the second stage, the model evaluation was tested using the wild cluster bootstrap-Lagrange Multiplier (WCL-LM) test to assess appropriateness of the model. Thirdly, the Panel smooth transition regression (PSTR) model with one regime was estimated to test the validity of the BARS curve.,The results revealed evidence of nonlinear effects between government expenditure and economic growth, where the size of the government spending was found to be a 27.84% share of GDP, above which government expenditure caused growth to decline in African emerging economies. The findings combined into an inverted U-shape relationship, in line with the BARS theory.,This study proposes that policy-makers ought to formulate prudent fiscal policies that encourage expenditure, which would improve growth for selected countries as their current level of spending is below the threshold. This might be done through: (1) a suitable investment portfolio and (2) spending more on infrastructure.

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TL;DR: In this paper, the mediating effect of hedonism in the relationship between mobile money adoption and usage and financial inclusion of micro small and medium enterprises (MSMEs) in Uganda was established.
Abstract: Mobile money is a service in which the mobile phone is used to access financial services. Thus, the mobile money platform should be user-friendly with hedonic features that are attractive and pleasurable to the users. The main purpose of this paper is to establish the mediating effect of hedonism in the relationship between mobile money adoption and usage and financial inclusion of micro small and medium enterprises (MSMEs) in Uganda.,This study reports interesting findings by using data obtained from MSMEs located in northern Uganda. The structural equation and measurement models were generated in analysis of moment structures (AMOS) to answer the hypotheses of this study.,The findings suggest that including hedonism in the model improves mobile money adoption and usage by 12.7 percentage points in order to promote financial inclusion of MSMEs in Uganda. Hedonism is found to affect mobile money adoption and usage, which in turn influences financial inclusion.,This study used cross-sectional data to document the mediating effect of hedonism in the relationship between mobile money adoption and usage and financial inclusion. The study analyzed mobile money adoption and usage, hedonism, and financial inclusion from the MSMEs owners' perspective. Future research could use relevant longitudinal data to verify multiple benefits of hedonism in enhancing mobile money adoption and usage as well as other potential digital financial technologies.,This study categorically informs mobile telephone network operators and inventors of mobile money applications to invest more in developing pleasurable and user-friendly mobile money features that can attract more users. The digital financial services' application developers should design user-friendly mobile money applications that suit the needs of all users. This requires careful understanding of diverse attractive features of mobile money services.,This study offers direction to developers of mobile money applications to design pleasurable and user-friendly mobile money platform with features, which are attractive to the different users. Particularly, it highlights the role of hedonic motivation in promoting adoption and use of mobile money technology to increase the scope of financial inclusion of MSMEs in a developing country like Uganda. Indeed, the novelty in this paper is grounded on a blend of financial technology and psychology to promote financial inclusion in under developed economies.

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TL;DR: In this article, the authors used correlation analysis, factor analysis, reliability and multiple regression analysis on the primary data collected from 125 investors in Saudi Stock Market through a questionnaire distributed randomly and found that the factors like past performance of the stocks, financial statements, firm status in industry, reputation of the firm, and expected corporate earnings have significant influence on the behavior of investors.
Abstract: The objective of the study is to determine the factors influencing the behavior of investor in Saudi Stock Market.,The paper uses correlation analysis, factor analysis, reliability and multiple regression analysis on the primary data collected from 125 investors in Saudi Stock Market through a questionnaire distributed randomly.,The results indicate that the factors like past performance of the stocks, financial statements, firm status in industry, the reputation of the firm, and expected corporate earnings have significant influence on the behavior of investors. The factor of the image that a certain company has built for itself over the years on the basis of its financial practices is a large influencer of investor decisions as compared to advocate recommendation factors. The investment behavior is not significantly influenced by gender or age; however, it is significantly influenced by educational qualification, professional experience and investment volume.,This paper limits itself to study the factors that influence the behavior of investors. However, it does not address the issue of investor overconfidence and its implications for Saudi Stock Market.,This research provides a road map for the investors interested in making their investment decisions by understanding the most influencing factors.,This research has social implications for government agencies to delineate the required legislation to regulate the investors and also to increase market efficiency. The results show that investors are strongly affected by signals from the government.,This research is an original contribution toward the behavioral finance field in Saudi Arabia and can be used as a reference material for investors, companies and government policymakers in Saudi Arabia. This study incorporates investors' individual characteristics and explores factors that influence investor behavior unlike some previous studies using Saudi data.

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TL;DR: In this paper, the authors explore the demand side factors affecting financial inclusion in general and credit uptake in particular, and conclude that there are major latent issues that determine the uptake and usage of financial services, major being "operational and implementation challenges", "financial literacy" and "affordability".
Abstract: The purpose of this study is to explore the demand side factors affecting financial inclusion in general and credit uptake in particular.,The present study is descriptive and exploratory in nature and is purely based on primary data. The data collection instrument has been scientifically after thorough review of literature and seeking expert opinion. Primary data have been collected from the respondents of lower socioeconomic class in selected rural areas in the State of Maharashtra, India. Exploratory technique like factor analysis and structural equation modelling have been used to identify the inter-relations between financial inclusion and underlying barriers.,The study concludes that there are major latent issues that determine the uptake and usage of financial services, major being “operational and implementation challenges”, “financial literacy” and “affordability”. The “usage” aspect further impacts financial inclusion along with “access” variable. These are some of the most important factor for creating demand-driven approach towards financial products and services specially credit. The author concludes that the identified latent barriers with respect to the “usage” dimension of financial inclusion require greater policy attention so that it can complement the supply-side measures.,The study establishes that merely having “access” through bank account ownership will not fulfil the objective of financial inclusion, and it is the “usage”, which is also important to realize the full potential of financial inclusion at the bottom of the pyramid. So, policy actions should be directed toward enhancing the “usage” aspect of financial services. The “usage” dimension could be enhanced through targeted interventions to mitigate the effect of identified latent barriers.,Though researchers have made a mention of demand-side barriers to financial inclusion, detailed study on the topic is missing. The study is one of its kinds in exploring the severity of various demand-side barriers that determine financial inclusion. In the context of emerging economies like India, financial inclusion is often measured in terms of banking outreach and “access”. There are limited studies capturing the “usage” dimension of financial inclusion.

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TL;DR: In this article, the authors examined the relationship between consumers' satisfaction with their health insurance and quality of life (QoL), the mediating role of perceived financial burden in this relationship, as well as the moderating effect of external locus of control (LoC) on the relationship among perceived financial burdens and QoL among cancer patients.
Abstract: The purpose of this paper is to examine the relationship between consumers' satisfaction with their health insurance and quality of life (QoL), the mediating role of perceived financial burden in this relationship, as well as the moderating effect of external locus of control (LoC) on the relationship between perceived financial burden and QoL among cancer patients.,A cross-sectional design was employed in order to collect quantitative data by means of a self-administrated questionnaire. Participants consisted of 387 conveniently selected consumers diagnosed with cancer in Iran. Furthermore, the questionnaire was translated into Persian using a forward–backward method. The model was tested using partial least squares structural equation modeling (PLS-SEM).,The results indicate that the more satisfied patients are with their health insurance, the higher QoL they experience, and this relationship is explained through reducing perceived financial burden in terms of direct and indirect costs of the disease. Although external LoC belief is negatively related to QoL, it buffers the negative association between financial burden and QoL.,Reducing the disparity between consumers' expectation and perception of the comprehensiveness of health insurance policies may relieve consumers' anxiety stemming from financial worries.,This paper fills a gap in the literature where consumers' perception about quality of insurance and its relationship with their QoL has received little attention so far.

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TL;DR: In this paper, a preliminary study using financial development and human capital in low-income countries with panel econometric techniques as an analysis tool was conducted. But the authors did not consider the effect of financial indicators and economic growth on human capital.
Abstract: PurposeThis research aims to explain the effect of financial indicators and economic growth on human capital in low-income countries.Design/methodology/approachWe gathered balanced panel data from 1980 to 2016 over a sample of 12 low-income countries categorized by World Development Indicators. The data stationary properties were analyzed by unit root test while the existence of a long-run relationship among the variables was confirmed by cointegration test. We performed Hausman test to differentiate between the fixed effect and random effect model. The sensitivity analysis confirmed the robustness of the results.FindingsOur findings indicated that broad money supply and private sector credit has a positive and significant impact on human capital. Interestingly, bank credit showed a negative and significant effect on human capital. We also found a significant positive relationship between human capital and economic growth in the study sample.Originality/valueThis is a preliminary study using financial development and human capital in low-income countries with panel econometric techniques as an analysis tool. Overall, we suggest a policy to focus on the financial sector development and economic growth to produce sustainable human capital.