Economics Commons^™

Simultaneous Relationship Between Financial Inclusion, Economic Growth, And Income Inequality In Sulawesi Island, 2011-2019, Adella Siti Nursaliyawati, Siskarossa Ika Oktora

Economics and Finance in Indonesia

Sulawesi Island has fairly high economic growth but is not followed by a significant decrease in income inequality. Therefore, a new strategy is needed to overcome these problems, one of them by increasing the role of the financial sector through financial inclusion. This study aims to analyze the relationship between financial inclusion, economic growth, and income inequality, as well as the factors influencing them in Sulawesi Island from 2011 to 2019. The analytical method used is the simultaneous equation model with panel data using the EC2SLS model. The results show that there is a simultaneous relationship between financial inclusion and …

Goodwill Message, Muhammad M. Bello

Economic and Financial Review

This is the keynote address delivered by the Honourable Minister of Federal Capital Territory during the Central Bank of Nigeria Executive Seminar, taking place in the city of Abuja. The theme of the seminar was “The Digitisation of Money and Monetary Policy in Nigeria."

The Evolution Of Money And The Changing Role Of Central Banks In The Digital Age, Uche Uwaleke

Economic and Financial Review

As a medium of exchange, money has evolved throughout the ages from barter system to fiat money issued by central banks. The digital age has ushered in new realities for central banks, transforming the nature of money and challenging monetary authorities to new roles required to implement their core mandate of maintaining monetary and price stability. The main purpose of this paper is to examine the changing roles of central banks occasioned by the challenges posed by digitalisation. Based on available literature surveyed, this changing role is principally evident in the recent move by most central banks to issue their …

Nigeria’S Budding Digital Economy: Coping With Disruptive Technology, Olugbenga Agboola

Economic and Financial Review

For a thriving and inclusive digital economy, African countries such as Nigeria need to build the critical foundations of the digital economy (World Bank Group, 2019). These foundations are interdependent and require public and private sector solutions.

Digitalisation And Financial System Stability: What Role For Macroprudential Policies?, Hassan Bello

Economic and Financial Review

The recent spate of financial digitalisation has been revolutionary, leading to significant changes in the structure of the financial system, its operational paradigm, users’ perception and experiences, and the regulatory landscape. These developments have been driven by explosive growth of technological advancements in fintech such as big data analytics, distributed ledger technology, and artificial intelligence, among others. Digitalisation of the financial system not only offers numerous benefits but also poses significant risks to the financial system, its stakeholders, and financial stability. This paper documents these issues and, in addition provides conceptual clarifications on financial digitalisation, and highlights relevant macroprudential policy …

Impact Of Technology On Financial Services, Usoro Usoro

Economic and Financial Review

This paper reviews seven emerging technologies that are shaping the future of financial services across the globe, their impact on financial services, and the implication for regulation. The seven technologies are: Mobile Connectivity; Artificial Intelligence; Decentralised Ledger; Open Source; Hyper Automation; Cloud Computing; and No Code Development Platforms.

Digital Currencies: Emerging Trends, Challenges And The Future Of The Monetary System, Remi Ogun

Economic and Financial Review

This paper discusses the relevance and significance of digital currencies within the context of the monetary system. The next section presents a global picture of the emerging trends followed by challenges from different jurisdictions. The final section discusses the future of the monetary system as shaped by digital currencies.

Digital Financial Services And Financial Inclusion In Nigeria: Milestones And New Directions, Chioma G. Nkechika

Economic and Financial Review

Digital Financial Services are ushering in an age of financial innovation and convenience with technology as the driver. It aims at solving several needs of the public, helping the governments tackle newer problems and identify the potentials of new technology that may be conceived in a competitive landscape. The aim of financial inclusion is to bring as many unserved and underserved Nigerians into the formal financial sector. Thus, digital financial services are revealing gaps in the market that will allow the Federal government intervene and cater to more members of the public than ever, using technology.

Borderplex Business Barometer, Volume 6, Number 12, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Misinformation, Fact Checking, And Immigration Voting Preferences, Katherine Van Shaar

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Although misinformation is rampant in social media and society, there is not an extensive literature exploring the impact of misinformation and fact checks on people’s political preferences relating to immigration policies in the US. The purpose of this study is to examine the impacts of misinformation and fact-checking on people’s policy preferences about immigration. Using an experimental survey and a between-subject approach, we observe how anti-immigration politician’s statements (ranging from false to partially true) impact participants’ perceptions of hot-topic immigration issues with and without fact checks. We also study the correlation between people’s political affiliation and the impact of politicians’ …

A Welfare Comparison Of Historical Cost And Fair Value Accounting Regimes, Palmer Edholm

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

With ongoing controversy concerning fair value and historical cost accounting, existing accounting theory is focused on intra-firm decision making and is thus deficient in addressing the issue of maximizing social welfare. I propose models of historical cost and fair value accounting regimes which are embedded in models of monopoly and oligopoly. This allows for social welfare implications. I find that historical cost results in greater expected profits for both monopolists and oligopolists. However, if the market is elastic enough, a fair value regimes is welfare enhancing. Whereas, if the market is inelastic enough, historical cost is welfare enhancing.

Measuring The Economic Impact Of Recurrent Flooding On Workforce Productivity And Property, Joshua G. Behr, Wie Yusuf, George Mcleod, Sarah Stafford, Derek Loftis, Afi Anuar, Rafael Diaz

Presentations, Lectures, Posters, Reports

From the Executive Summary:

This research draws upon expertise across multiple disciplines and fields. Leveraged are natural systems data and social-behavioral data. The high-level objective is to advance our understanding of how very recent recurrent flooding has impacted residents within the City of Portsmouth, and then forecast these impacts under projections of sea level rise. While this research draws upon data for the City of Portsmouth, the findings may be generalized to the broader Hampton Roads region.

The Montana Travel Industry 2021, Melissa Weddell

Institute for Tourism and Recreation Research Publications

2021 summary of the Montana travel and recreation industry.

Estimating Households' Expenditures On Disability In Africa: The Uses And Limitations Of The Standard Of Living Method, Nanette Goodman, Daniel Mont, Zachary Morris, Mercoledi Nasiir

The Lender Center for Social Justice

This paper applies the Standard of Living method to estimate disability-related expenditures in African households. It highlights both its usefulness and methodological limitations in resource-constrained contexts.

Remittance: A New Instrument For Change -- Understanding The Impact Of Remittances On Home Countries Development, Alex M. Hamed

Graduate Program in International Studies Theses & Dissertations

This dissertation constructs a framework to investigate the impact of remittances on the recipient countries in the context of the Middle East and North Africa (MENA) and the European Union (EU). The framework will explore the effects of labor migration induced by bilateral labor agreements (BLAs). Such labor agreements are guided by the desire of autocratic governments to utilize their citizens to finance social contracts to sustain the authoritarian systems. The labor movements are further enhanced by accumulating social capital and remittances. The research also highlights the impact of remittances on the home country's institutional quality. It also highlights the …

Marriage, Labor Supply And The Dynamics Of The Social Safety Net, Hamish Low, Costas Meghir, Luigi Pistaferri, Alessandra Voena

Cowles Foundation Discussion Papers

The 1996 US welfare reform introduced time limits on welfare receipt. We use quasi-experimental evidence and a lifecycle model of marriage, divorce, program participation, labor supply and savings to understand the impact of time limits on behavior and well-being. Time limits cause women to defer claiming in anticipation of future needs, an effect that depends on the probabilities of marriage and divorce. Time limits cost women 0.5% of life-time consumption, net of revenue savings redistributed by reduced taxation, with some groups affected much more. Expectations over future marital status are important determinants of the value of the social safety net.

Realizing Sdgs In Indonesia Through Productive Waqf, Faizatu Almas Hadyantari

Journal Of Middle East and Islamic Studies

Waqf is a form of Islamic social financial instrument that has sustainability benefits. Efforts to produce waqf assets aim to increase their use to create an even distribution in all aspects. This is in line with the Sustainable Development Goals (SDGs), namely maintaining sustainable improvement in the economic welfare of the community, maintaining the sustainability of community social life, and maintaining environmental quality. the pillars of development are the pillars of social development, the pillars of economic development, the pillars of environmental development, and the pillars of governance and law. The research method used is a qualitative study of literature …

Empowering Older Adults With Their Information Privacy Management, Reza Ghaiumy Anaraky

All Dissertations

Literature depicts a deficit-based narrative around older adults and their technology use, suggesting that older adults are not able to keep up with their younger counterparts in adopting new technologies. In this dissertation, I argue that this view is not necessarily accurate or productive. Instead, I argue that the deficit is in the technology design, which is not inclusive and often caters to the needs of younger adults.

I study older and younger adults' privacy decision-making as a showcase. To study the privacy decision-making process with more granularity, I used a dual-route approach (decision heuristics and privacy calculus) to disentangle …

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Household Size And Household Wealth In Indonesia With The Influence Of Spatial Aspects, Thomas Soseco

Economics and Finance in Indonesia

Investigating household wealth should also include spatial analysis to capture the influence of location on the households’ net wealth and to avoid underestimation of the effect of the change of variables due to estimation that ignores spatial aspects. This paper examines factors influencing household net wealth in Indonesia with the influence of spatial lag using data from the Indonesian Family Life Survey (IFLS) for 1993–2014. The article relies on the Spatial Durbin Model (SDM) to analyze the data. Results show that household net wealth in Indonesia is spatially related to each other, and the spillover effect makes the change of …

Economic Growth And Co2 Emission In Asean: Panel-Ardl Approach, Feriansyah Feriansyah, Hari Nugroho, Aura Asyda Larre, Qori’Atul Septiavin, Cintya Khairun Nisa

Economics and Finance in Indonesia

This paper investigates the relationship between economic growth and CO2 emissions from 1994 to 2018 using a panel approach from eight ASEAN countries. We found an established result using the Panel ARDL Pooled Mean Group method. First, the panel Cointegration analysis shows a significant long-term relationship between GDP and CO2 emissions. Second, the error correction mechanism shows a stable and consistent value. Third, we found that GDP has a significant long-term effect on CO2 emissions in ASEAN countries. Fourth, our results also show that GDP significantly impacts CO2 emissions in the short term for four countries: Indonesia, Malaysia, Thailand, and …

Estimation Of Disaggregated Import Demand Functions For Nigeria, Chekwube V. Madichie, Uche C. Nwogwugwu, Franklin N. Ngwu, Olisaemeka D. Mauka

CBN Journal of Applied Statistics (JAS)

This paper estimates disaggregated import demand function for Nigeria using annual data from 1970 to 2019. The study employs the Zivot-Andrews unit root and Gregory-Hansen cointegration tests to account for the role of structural breaks and the error correction mechanism for shortrun analysis, respectively. The results show that household consumption, industrial output and domestic investment are the major determinants of import demand for consumer, intermediate and investment goods, respectively. Furthermore, the import demand for investment goods is not sensitive to variations in relative prices. However, relative prices is negative and significant to import demand for consumer and intermediate goods. Exchange …

Size And Determinants Of The Shadow Economy In Nigeria: Evidence From A Monetary Approach, Tari M. Karimo, Mohammed M. Tumala, Ibrahim U, Wambai

CBN Journal of Applied Statistics (JAS)

Thiis study investigates the size and determinants of the shadow economy in Nigeria. It adopts an aggregation approach within the monetary framework and utilises the ARDL estimation technique to analyse quarterly data from 2010 Q1 to 2019 Q4. On average, the results suggest that the quarterly size of the shadow economy is about 55 per cent of the country’s GDP. The findings show that government size reduces the size of the shadow economy in the short run but increases it in the long run. The study also finds that interest rate, which is the opportunity cost of holding cash, and …

Fiscal And Monetary Policy Interactions In A Developing Economy: A Dsge-Based Evidence From Nigeria, Queen E. Oye, Philip O. Alege

CBN Journal of Applied Statistics (JAS)

This study characterizes the nature of fiscal-monetary interaction in Nigeria and gauges its macroeconomic effects by estimating a New Keynesian Dynamic Stochastic General Equilibrium (NK DSGE) model. Two policy simulations were also conducted. The first experiment considers the desirable active-passive policy mix while the second experiment ranks alternative monetary policy rules among the differing objectives of price, output and exchange rate stabilization. The study finds that fiscal and monetary policies interact as complements in an active monetary and passive fiscal policy mix over the sample period. The result from the first policy simulation reveals that the active monetary and passive …

Market Risk Factors And Stock Returns In The Nigerian Bourse, Omorose A. Ogiemudia, Osagie Osifo, Igbinovia L. Eghosa

CBN Journal of Applied Statistics (JAS)

This study examines the link between market risk and equity return in Nigeria between 1980 to 2019. It employs the vector error correction model (VECM) to determine the short run dynamics and long run effect of market risk factors on stock return. The findings revealed that a dynamic relationship exists between market risk factors and stock returns in Nigeria. Also, exchange rate risk and oil price risks have significant influence on stock return, while inflation and interest rate risk, and political instability risks have a non-significant impact on stock return. Finally, a unidirectional relationship was detected between interest rate, oil …

Savings-Investment Gap In Sub-Saharan Africa: Does The Interaction Of Financial Sector Development And Migrant Remittances Matter?, Wasiu Adekunle, Oluwatosin Adeniyi, Joshua Afolabi, Musibau Babatunde, Edward Omiwale

CBN Journal of Applied Statistics (JAS)

This study analyses the interactive effects of migrant remittances and financial development on savings-investment gap for a panel of 18 Sub-Saharan Africa (SSA) countries from 1990-2017. Results from a panel ARDL model show that migrant remittances reduce savings-investment gap in the long run. The gap is further reduced when the individual effect of financial development, and the interactive effects of migrant remittances and financial development are taken into consideration. Further analysis reveals evidence of widening effects of rising real GDP growth and bank deposits over a long-term horizon, while higher private sector credit widened the savings-investment gap only in the …

Impact Of Exchange Rate On Trade Flow In Nigeria, Victor U. Ijirshar, Isa J. Okpe, Jerome T. Andohol

CBN Journal of Applied Statistics (JAS)

This study examines the impact of exchange rate on trade flow in Nigeria from 1986 to 2021. The study utilises linear and nonlinear autoregressive distributed lag (ARDL and NARDL) models to test the J-Curve hypothesis and the Marshall-Lerner condition in Nigeria. The study found symmetric effects of exchange rate on trade balance, exports, and imports. The findings also show that real exchange rate depreciation has a strong negative influence on trade balance and exports in the short run but positive in the long run, exhibiting the shape typology of the J-curve. Furthermore, the study reveals evidence of the Marshall-Lerner condition …

Effects Of Central Bank Independence And Financial Stability On Inflation In Selected African Countries, Adamu Yahaya, Mohammed T. Saidu, Abdulaziz Sadi

CBN Journal of Applied Statistics (JAS)

This study examines the relationship between central bank independence (CBI), financial stability, and inflation in 14 African countries within the period 1985-2019. Initial test revealed the presence of cross-sectional dependence (CD) among the countries. Thus, the Mean Group (MG), Common Correlated Effect Mean Group (CCEMG) and Augmented Mean Group (AMG) were employed for the analysis. The CCEMG and AMG results showed a significant and negative correlation between central bank independence and inflation. On the other hand, financial stability is only significant in the MG Model. Additional results obtained using the Garriga CBI index is consistent with our main results. The …

Trade And Transfer Of Environmentally Sound Technology In Asean: Mapping Priorities To Economic Treaty Negotiations, Locknie Hsu

Research Collection Yong Pung How School Of Law

The 10 members of the Association of Southeast Asian Nations (“ASEAN”) share common objectives in economic, sociocultural and political-security integration. Addressing environmental concerns is animportant consideration which traverses different areas of integration policymaking. ASEAN has, in recent years, emphasised the importance of environmental considerations, including environmentally sound technologies (“ESTs”) which may contribute to its climate change mitigation and adaptation efforts, in its law and policymaking. This article discusses the nexus between ASEAN’s needs for the transfer of ESTs and the group’s economic treaty negotiations. Through a “mapping” of such needs to free trade agreementareas, it aims to provide a pathway …

Money Moves: An Analysis Of Chinese Foreign Direct Investment In Europe, Susan Soh

Honors Theses

In recent years, China has begun engaging in outward foreign direct investment (FDI). There is a significant amount of literature dedicated to understanding China’s FDI in developing nations. However, very little research has been conducted over Chinese FDI in advanced economies. As a result of this gap in existing literature, the question arises, what explains Chinese FDI in Europe?

As FDI is a transaction to which both the donor and recipient countries must agree, this thesis has a dual focus. One chapter of the thesis analyzes the effects of and motivations for Chinese FDI on European nations. In this chapter, …

The Search For Spices And Souls: Catholic Missions As Colonial State In The Philippines, Dean C. Dulay

Research Collection School of Social Sciences

A growing literature posits that colonial Christian missions brought schooling to the colonies, improving human capital in ways that persist to this day. But in some places they did much more. This paper argues that colonial Catholic missions in the Philippines functioned as state-builders, establishing law and order and building fiscal and infrastructural capacities in territories they controlled. The mission-as-state was the result of a bargain between the Catholic missions and the Spanish colonial government: missionaries converted the population and engaged in state-building, whereas the colonial government reaped the benefits of state expansion while staying in the capital. Exposure to …