Development Finance Research Articles

Ecological and economic effects of green financing

Currently, all three components of sustainable development at all levels are becoming increasingly important to ensure the existence and development of states. This article is devoted to green finance, linking economic and environmental aspects of development. Green financing is a policy direction to reduce negative environmental externalities and attract investment in new technologies, which has become widespread in recent years; green bonds are one of its most important instruments. To assess the impact of issuing green bonds on the environmental component, represented by the equivalent of carbon monoxide emissions, the article was the first to apply a matching procedure to evaluate company data obtained using the Refinitiv database. The authors showed a model specification that supports the hypothesis that the issuance of green bonds has an impact on reducing carbon monoxide equivalent emissions in the long term, but the results of the logarithmic specification of this model turned out to be unstable. From the calculations presented in the article it follows, that despite the fact that the effect of issuing green bonds does not have an immediate impact on the company’s environmental performance, but in the long run it can improve their performance. It helps to raise environmental rating of companies and, in turn, can help attract investments for the development of technologies and infrastructure that ensure technological independence, the use of promising energy sources, the best available technologies, and the transport greening.

Inquisitive exploration of green finance, social finance, and capital formation in shaping economic development: insights from BRICS Countries

The significance of democratic commitment is highlighted on a global scale by the importance placed on offering a multitude of chances to establish enduring ecosystems and foster economic progress. Social finance, capital formation, and green finance have recently received a lot of attention from this perspective. Past studies mainly examined social finance and green finance in isolation. When investigating the individual impact of these important variables on economic growth in the occurrence of important events like the COVID-19 pandemic and other environmental pollution issues, most studies have mainly focused on developed countries, ultimately ignoring the different dynamics in emerging economies. The purpose of the research is to investigate the joint interaction between social finance (Social Impact Bonds), capital formation, and green finance (green loans, green investments, and green security) on economic development in BRICS economies. This research employed a longitudinal dataset from 2013 to 2023. The generalized method of moments (GMM) and fixed effect model (FEM) were employed in this research as statistical techniques for estimating parameters. The findings of this study revealed a positive joint relationship between green finance, capital formation, and social financing on economic development of BRICS economies. Therefore, measures that jointly promote social and green finance amidst environmental challenges or economic risks could present opportunities to mitigate the vulnerability of a country's economic prosperity. This research will surely guide policymakers in developing economies on how to give considerable attention to sustainable aspects while formulating policies and strategies aimed at economic development.

Beyond 2030: structures for achieving sustainable development

With 2030 quickly approaching and hence the end of the Sustainable Development Goal (SDG) timeline, it is necessary to start the conversation as to what the post-2030 international development goals, that will take over from the SDGs, will look like. Building on the experiences of implementing the Millennium Development Goals (MDGs) and SDGs, there is the possibility of making the post-2030 goals the most efficient and successful to date. This perspective explores the lessons that have been learnt from the MDGs and SDGs, and together with a consideration of emerging global trends develops proposals for post-2030 goals and targets. In total seven goals are suggested: (1) Operate within planetary boundaries (2) Create growth within resource limits (3) Provide access to basic services for all (4) Eliminate poverty and hunger (5) Reduce inequality (6) Deliver good health and education for all (7) Build strong institutions and international partnerships. The goals are categorised as being: (i) Environmental and Economic (ii) Physical Assets (iii) Social, and (iv) Collaboration. System interdependencies and possible causal connections between the proposed post-2030 goals are also explored. A novel approach of five yearly assessments of the risks involved if the targets are not met, together with suggestions for corrective action is discussed, which will help inform governments and decision makers of the urgent actions needed. To avoid a disruptive future, careful formulation of the post SDG period beyond 2030 is urgently needed to provide a fair and consistent framework to hold both government and industry to account at local, national, and international levels. This will require the strengthening of existing international institutions and strategies for the financing of development.

VIKSHIT BHARAT @ 2047: PATHWAY TO SUSTAINABLE AGRICULTURE DEVELOPMENT IN INDIA

India’s economic growth is projected to reach 8.2%in 2023-24(National Statistical Office).It is to be ranked fifth globally in terms of GDP and third in Purchasing Power Parity (PPP) in 2024. The IMF estimates that India’s GDP will grow by 7% in 2024. As India approaches 2047, celebrating 100 years of independence, the vision of “Vikshit Bharat @2047” (Developed India) is emerging, aiming to move to a High-income status and surpass $30 trillion GDP. This study explores the role of sustainable agricultural development in achieving the vision of “Vikshi Baharat”, focusing on incorporating advanced technologies into farming practices. The study explores the potential of innovations such as Precision Farming, Biotechnology, Machine Learning and Digital Agricultural, along with Sustainable Farming Practices, Water Resource Management, Soli Health Practices and Supporting Policy. Furthermore, the study highlights the importance of Agricultural Finance and Public-Private Partnership in economic development.

Business Research and Development: Is there a Substitution Effect of Public Support?

The importance of research and development is reflected in the fact that one of the main priorities of the EU's development policies is increasing spending on research and development in EU member states (EC, 2010). Enterprises do not always have enough internal financial resources to launch their own innovation projects, and therefore they turn to external resource providers (Wang et al., 2016). The paper is aimed at examining the impact of corporate expenditures on R&D from the point of view of their funding sources and analysing the occurrence of the substitution effect of public support for R&D in EU 27 countries. These countries also have the highest level of public financing of research and development, that is, they use the public support of business innovations to the highest extent. The analysis showed that in the EU 27, the substitution effect of public support for research and development is not significant, or rather the complementarity of both types of expenditure prevails at the national level, as public funding of corporate research and development seems to have a positive effect on private research and development and investments. Our analysis is based on available secondary data for 27 EU member states. for a twenty-year observation period (2000-2020). The results have been achieved by using a methodology that includes cluster analysis, panel regression and correlation analysis. We bring new empirical evidence on the relationships between public support and business research and development expenditures. The research results showed the main sources of funding for corporate research and development. It concerns the business enterprises, government and abroad. The cluster analysis determined three clusters, divided according to the structure of the financing of R&D enterprises in EU countries. The results of the cluster analysis were partially in line with the current results of the European Innovation Review. Our findings provide policy implications for the public support policy.

Review on medical waste management in China and Nigeria.

Medical waste management is an essential component of healthcare delivery globally due to the toxic and contagious potentials on human health and the environment. There are resource limitations in developing nations when it comes to the appropriate handling of medical wastes. In this article, we examined previous studies to evaluate the practices of medical waste management in China and Nigeria. Contextually, this work addresses medical waste practices in the context of waste generation, segregation, collection, storage, transportation, treatment and disposal. In addition to reviewing additional important aspects of medical waste management, the current study addresses potentials and challenges for efficient medical waste management in both countries. For this study; Scopus, Web of Science, Google Scholar, PubMed, Agencies, Conferences, National and International Conventions were searched from 1998 up to 2023 for all studies reporting medical waste management in China and Nigeria. To further guarantee that only resource materials with similar research interests in medical waste management were selected, a double screening process was employed. The challenges of medical waste management in both countries are limited financing, inadequate training, ineffective legislation, ineffective medical waste transport system and insufficient treatment technology. Furthermore, this study offers practical recommendations by identifying the particular areas that require attention and development, such as training of healthcare workers, adequate financing of medical waste management projects, including research and development on efficient toxic emission reducing technologies, and partnership with other relevant authorities and stakeholders to ensure enforcement of national and local legislation.

The Role of Sharia Micro Financing in the Development of Micro Small and Medium Enterprises in Telanaipura District

Micro, Small and Medium Enterprises (MSMEs) are an important part of the economy of a country or region, including Indonesia. The development of the MSME sector provides its own meaning in efforts to increase economic growth and in efforts to reduce the poverty rate in a country. The role of sharia microfinance plays an important role in business development for MSMEs. The aim is to find out whether MSME actors have run their businesses using sharia microfinancing and what role sharia microfinance plays in business development for these MSME actors. This research is field research using qualitative methods. Data collection techniques using observation, interviews and documentation. The interview this time consisted of several MSME actors in the Telanaipura District, Jambi City. The results of this research are MSME actors in Telanaipura District who have run their businesses by carrying out sharia micro financing and the important role of sharia micro financing in business development for these MSME actors.

Analisis Peran Keuangan Syariah dalam Pembangunan Ekonomi

The role of Shariah finance in economic development has been the subject of increasing research and policy discourse. Although empirical evidence of the sharia financial impact remains varied and contextual, sharia finance has the potential to make a positive contribution to economic growth, financial stability, and social well-being. Nevertheless, there are still significant challenges and complexities in realizing the Sharia financial potential as a catalyst for economic development. The study aims to explain the multi-faceted contribution of Islamic finance to economic development. In this research the method used is qualitative method. A systematic review of literature is carried out to build a theoretical foundation, conceptual framework, and empirical evidence related to the role of Shariah finance in economic development. The review includes scientific articles, books, reports, and policy documents from a variety of disciplinary perspectives, including economics, finance, Islamic studies, and development studies. The results of this study conclude that Islamic finance plays a role in promoting financial inclusion, encouraging investment in sustainable infrastructure and business, enhancing stability through risk-sharing mechanisms, and promoting ethical and socially responsible financial practices. By providing financial products and services in line with Sharia principles, Sharia financial institutions can meet the unique financial needs of various segments of society, thereby helping to reduce gaps in access to finance and enhance economic empowerment

Econometric Determinants of Chinese Developmental Finance in Sub-Saharan Africa; Further Evidence using a Flow-Type Decomposed Poisson Pseudo-Maximum Likelihood Model

Chinese “aid” has long engendered criticism. Western pundits and policymakers posit it as a political tool employed by Beijing to asway foreign policy concessions and secure natural resources access for its domestic industries, often atthe expense of the recipient country. However, we argue that large amounts of these claims lack empirical scrutiny or have been hindered by enduring conceptual, methodological, and data-centric constraints. This paper thus aims to refine and integrate prevailing methodological practices to produce a more nuanced understanding of Chinese motivations. Using empirical regression analysis and a newly released granular dataset spanning 48 Sub-Saharan African countries from 2000-2021, we: (1) decompose Chinese “aid” into flow types of relative concessionality; (2) utilize a Poisson pseudo-maximum likelihood (PPML) estimator to mitigate log-transformation and heteroskedasticity concerns present within traditional modeling of zero-inflated datasets; (3) retain a subset of contemporary values to deal with issues related to simultaneity in our regressors. Our findings suggest that while developmental goals primarily drive concessional aid, commercial lending is moreso influenced by economic self-interest, which is often incorrectly conflated with “aid” in the traditional sense. Further, Chinese “aid” does not flow disproportionately to corrupt or authoritarian regimes. This challenges the dominant “rogue donor” narrative and contributes to a more comprehensive perspective on China's emerging role in global developmental finance.

FINANCIAL LITERACY AND FINANCIAL INCLUSION FOR WOMEN EMPOWERMENT

Financial inclusion is the expanding outreach of banking or financial services at an affordable cost to a vast section of disadvantaged groups of society which may provide them a financial cushion for their sustenance as well as social empowerment. In India where women constitute 46% of total population majority of them are denied to opportunities and rights due to their financial dependence. Financial inclusion is much needed for women as it helps in increasing amount of regular savings along with enabling women to pay for micro insurance and obtain credit. It also helps in increasing income from employment and micro enterprise, usage of mainstream banking services that offer appropriate designed products and service. In other words, financial inclusion makes women informed about their role and right in economic development to improve access to markets and other information for overall empowerment. By helping women to meet their practical needs, micro finance may help women to gain respect and achieve more in their socially defined roles along with wellbeing. This paper mainly deals with-Importance of women’s financial inclusion, Women’s specific financial needs in respect to men’s, Functions of finance and role of women, Growth, development and financial inclusion, financial literacy as a tool for women empowerment, Institutional framework in India for financial education, Economic and socia development of women and financial inclusion, Gender inequality and lack of access to financial services, Certain issues and aspects related with financial inclusion and women empowerment. The paper calls for women empowerment by means of effective financial inclusion and financial literacy by studying the relationship between women empowerment and financial inclusion.

Understanding the Role of Finance in Sustainable Development: A Qualitative Study on Environmental, Social, and Governance (ESG) Practices

This qualitative literature review investigates the multifaceted landscape of sustainable finance, aiming to provide insights into its key dimensions and implications for sustainable development. The research methodology involves a comprehensive examination of existing literature utilizing qualitative analysis techniques such as thematic analysis, content analysis, and narrative synthesis. The study explores environmental considerations, social dimensions, and governance practices within sustainable finance, drawing on diverse perspectives from academic literature, industry reports, and policy documents. Key findings reveal the pivotal role of sustainable finance in advancing environmental objectives by mobilizing capital towards environmentally sustainable projects, promoting conservation, and facilitating the transition to a low-carbon economy. Moreover, the study highlights the significance of addressing social issues such as labor rights, gender equality, and community development through sustainable finance initiatives. Additionally, effective governance practices are identified as essential for ensuring transparency, accountability, and ethical conduct within the financial sector. The implications of sustainable finance extend beyond financial markets, encompassing environmental outcomes, social equity, and governance frameworks crucial for achieving sustainable development goals. Despite challenges such as data availability, standardization, and regulatory coherence, sustainable finance presents opportunities for innovation and collaboration to address pressing global challenges. Overall, this study contributes to a deeper understanding of sustainable finance and underscores its potential to drive positive change towards a more resilient, inclusive, and sustainable global economy.

Effectiveness of Financing in Supporting MSME Development at PT Pegadaian UPS Kwanyar

Introduction: This research aims to analyze the effectiveness of financing in supporting MSME development at PT Pegadaian UPS Kwanyar. Research Methods: This research uses a descriptive case study approach to describe the efficiency and challenges of KUR Syariah at PT Pegadaian UPS Kwanyar. Data was collected through direct observation and interviews with the company and the MSME players. The data was then analyzed qualitatively using descriptive analysis. Results: The results reveal that the KUR Syariah program at PT Pegadaian UPS Kwanyar effectively supports MSME capital by implementing strict procedures such as timeliness, accuracy of amount, accuracy of target, and accuracy of credit. MSMEs that use KUR Syariah report increased income and productivity, although they still face challenges such as product limitations, low user interest, a complicated application process, and a lack of direct promotion. Conclusion: Improvements in the application process and promotion are needed to increase the utilization of KUR Syariah by MSMEs in Bangkalan City.

Promising areas of innovative provision of agricultural production

The article substantiates promising directions of innovative provision of agricultural production. It has been established that agricultural production remains a priority and important area of economic activity that determines the socio-economic state of the state and the level of its food security. At the same time, the growth of the country’s agricultural sector allows us to establish a stable promising trend, although achieved mainly at the expense of the crop industry. It is proved that the innovative development of agricultural production takes place under extremely unfavorable conditions, since the scientific, technical and innovative potentials of the industry are characterized by prolonged stagnation. It was found out that an important organizational and economic problem, which is caused by insufficient financing of high-quality scientific developments, is the preference of domestic agricultural producers for foreign technologies, machinery, seed material, plant protection products, fertilizers, etc. First of all, this is due to the significantly higher technical and technological characteristics of machines and mechanisms of foreign manufacturers. At the same time, innovative support for the development of agricultural production should be carried out in the context of the implementation of the state innovation policy, which should be aimed at strengthening human resources, scientific and educational, financial and investment, technical and technological potentials, the development of institutional infrastructure, financial, economic and legal regulation of innovative development of the agricultural sector.

Asymmetric Relations Between Indonesia and Singapore

The effort to repatriate funds stored abroad by Indonesian citizens, as part of the 2016 Tax Amnesty Program by the government, was deemed a failure. Only 14% of the expected funds were brought back into the country. This is very disappointing, considering the government needs substantial funds to support the financing of Indonesia's economic development, especially physical economic infrastructure development. Given that a significant portion of the funds held abroad by Indonesians is in Singapore and that the Indonesian government had requested Singapore's assistance to facilitate the repatriation of these funds, this phenomenon raises interesting questions. There are even suspicions that the Singaporean government did not care enough, and may have even hindered these repatriation efforts. This paper attempts to highlight this issue and place it within the study of a central concept in political science and international relations, namely power. Considering physical geographical size (Indonesia being the largest), demographic (the largest population), and economic (the largest GDP), why can the much larger country not influence the smaller one? Why is “Goliath” powerless in front of “Lilliput”? This case triggers a theoretical discussion about the meaning of power in political science and international relations analysis. How is power discussed in this body of knowledge? Among the various approaches in the literature, one that aptly describes the situation where the "large" is powerless against the "small" is Benjamin Cohen's "power of the balance of payment."

The Blue Ribbon Committee II Report and Recommendations on Surgical Education and Training in the United States: 2024.

An expert panel made recommendations to optimize surgical education and training based on the effects of contemporary challenges. The inaugural Blue Ribbon Committee (BRC I) proposed sweeping recommendations for surgical education and training in 2004. In light of those findings, a second BRC (BRC II) was convened to make recommendations to optimize surgical training considering the current landscape in medical education. BRC II was a panel of 67 experts selected on the basis of experience and leadership in surgical education and training. It was organized into subcommittees which met virtually over the course of a year. They developed recommendations, along with the Steering Committee, based on areas of focus and then presented them to the entire BRC II. The Delphi method was chosen to obtain consensus, defined as ≥80% agreement among the panel. Cronbach α was computed to assess the internal consistency of 3 Delphi rounds. Of the 50 recommendations, 31 obtained consensus in the following aspects of surgical training (# of consensus recommendation/# of proposed): Workforce (1/5); Medical Student Education (3/8); Work Life Integration (4/6); Resident Education (5/7); Goals, Structure, and Financing of Training (5/8); Education Support and Faculty Development (5/6); Research Training (7/9); and Educational Technology and Assessment (1/1). The internal consistency was good in Rounds 1 and 2 and acceptable in Round 3. BRC II used the Delphi approach to identify and recommend 31 priorities for surgical education in 2024. We advise establishing a multidisciplinary surgical educational group to oversee, monitor, and facilitate implementation of these recommendations.

A Cross-Sectional Analysis of Infrastructure Finance and Academic Achievement in Primary School Development

This cross-sectional analysis examines the relationship between infrastructure finance and academic achievement in the context of primary school development. Infrastructure investment in educationis crucial for creating conducive learning environments and enhancing educational outcomes. However, the impact of financial allocations on academic achievement remains underexplored, particularly in primary education settings. Through a comprehensive review of literature and empirical analysis, this study investigates how varying levels of infrastructure finance influence academic performance indicators such as standardized test scores, attendance rates, and student retention. It employs a mixed-methods approach, utilizing quantitative data to measure infrastructure spending and academic outcomes across a diverse sample of primary schools, complemented by qualitative insights from educational stakeholders. The findings highlight significant correlations between infrastructure finance and academic achievement, revealing that adequate funding positively affects student learning outcomes and schooleffectiveness. Moreover, the study explores contextual factors such as socio-economic status, geographical location, and administrative policies that mediate the relationship betweenfinance and educational outcomes. By shedding light on these dynamics, this research contributes to policy discussions aimed at optimizing resource allocation strategies in primary education. It underscores the importance of targeted investments in school infrastructure to foster a supportive learning environment conducive to academic success, ultimately advocating for evidence-based policies that prioritize educational equity and quality in primary school development initiatives.

Green Finance Promotes High-Quality Development of Regional Economy

With the rapid development of the social economy, the role of green finance in promoting the high-quality development of regional economies is increasing day by day. The advancement of green finance not only aids in fostering the green transformation and upgrading of regional economies but also helps mitigate the risks of environmental damage stemming from traditional economic activities. In this new era, it is imperative to embrace the concept of green finance development and innovate green finance practices to further drive high-quality regional economic development. This paper will analyze the significance of green finance in regional economic development, assess the current state of green finance development, and propose optimization strategies for green finance to facilitate high-quality economic development.

The Impact of Islamic Financial Deepening on Economic Growth in Indonesia

Indonesia is starting to pay attention to this trending issue to boost national economic growth because Indonesia is still below other countries regarding the development of its financial sector, especially in Islamic finance. This study employs a quantitative research approach, utilizing multiple linear regression analysis, to investigate the influence of various aspects of Islamic finance on Gross Domestic Product (GDP) as an indicator of economic growth in Indonesia. This research is expected to be able to examine in more detail the role model of Islamic financial deepening in Indonesia and how it affects economic growth. Through a comprehensive discussion, we examine the potential impact of Islamic financial instruments, including Murabahah, Mudharabah (Islamic deposit), total assets of Islamic banking, Islamic stock market capitalization, and Islamic stock transaction volume, on economic growth. Findings suggest that while certain components, such as government bonds (sukuk), have a significant positive influence on GDP through infrastructure financing and investor confidence, others, like corporate bonds (sukuk), may have limited direct impact due to their focus on specific corporations rather than broad-based economic growth. This research contributes to the understanding of the role of Islamic finance in Indonesia's economic development and informs policymakers, practitioners, and academics on optimizing its contributions while ensuring financial stability and inclusion.

Socialization of Introduction to Understanding The World of The Financial Profession for Students At State 9 Vocational High School, West Jakarta

Purpose of activity PkM with title Socialization introduction Understanding the World of Professionals in the field finance For students at vocational schools for increase interests, hopes and interests For dream So expert profession field finance . Constitution Number 4 of 2023 concerning Financial Sector Support and Support (PPSK) consists of from Public Accountant (AP), Accountant Practicing (AB), Actuary, Public Appraiser, Tax Consultant , Notary , Legal Consultant , Financial Services Sharia Expert ; and other professions determined by the Ministry, Institution, or supervisory and supervisory authority profession related , necessary introduced my friend interest .Problems : 1). Many Accounting Vocational School students However only few have​ objective become expert Profession Finance like Accountant besides profession finance other. 2). Current PPPK statement Socialization of Professional Services Finance in Bandar Lampung delivered No A little students who have low interest, and yet understand How become a profession reliable finances.​ 3). Guard sustainability need power profession field finance in accordance development. The method used is : 1). Extension methods, 2). Question and answer method, 3 ). Demonstration Method . Devotion public This held especially for student School Intermediate Vocational School (SMK) Negeri 9, West Jakarta. Activity results: With extension method past presentation, Q & A, Demonstration​ past the practitioner explains experience his profession direct to student /I has be a Solution: 1). Produce interest and motivation vocational school students who have objective For become power expert profession finance, 2). Vocational school students who want to working in the professional world Finance understand better​ major studies his lectures, 3). give knowledge in practice about profession finance including required competencies​ owned To use add interest interest take Major Accounting, 4). Participant more know method For become a power expert / profession in the field of Financial Services, 5). Activity This has give contribution input to party government, academics, and parties other.

Exploring the role of green finance in wind power development: using the nonparametric model

In the context of the “dual carbon” strategy, how to leverage green finance to promote China's wind power industry is a hot topic. Unlike existing literature, this article uses a nonparametric additive model to investigate the impact and mechanism of green finance on wind power development. Research has found that green finance has an inverted U-shaped nonlinear impact on wind power development, indicating that green finance has a more prominent contribution to the wind power industry in the early stages. Further mechanism research indicates that green finance affects the wind power industry through foreign direct investment and green technology innovation. Specifically, with the relaxation of foreign direct investment conditions in the energy sector, the role of foreign direct investment in promoting the wind power industry more prominent in the later stages. In the early stages, government support was greater, and green technology patents grew rapidly, driving green technology innovation to have a more significant impact on the wind power industry. In addition, the impact of fiscal decentralization, wind power prices, and environmental regulations on the wind power industry also exhibits significant nonlinear characteristics. This article helps to comprehensively understand the mechanism and impact of green finance on wind power development, and provides a reliable basis for optimizing green finance policy and effectively promoting wind power.