Financial Economic Development Research Articles

Recent innovations in long-term care coverage and financing: a rapid scoping review

ObjectivesTo identify, chart and analyse the literature on recent initiatives to improve long-term care (LTC) coverage, financial protection and financial sustainability for persons aged 60 and older.DesignRapid scoping review.Data sourcesFour...

Post-war Recovery Practices for Ukraine, based on the Experience of other Countries that have Undergone Similar Processes

"This article aims to study the specifics of post-war recovery practices in European countries to elaborate on the key recommendations for Ukraine’s post-war reconstruction policy. The research methodology is based on general scientific and empirical methods of studying political, economic, social, and institutional factors of Ukraine’s recovery and similar practices of the most developed countries. The study results of post-war reconstruction practices in European countries prove the importance of building institutional norms, European integration (political, economic, ideological, and value-based), and mechanisms for financing development projects to create a new innovative model of economic growth and social welfare. Furthermore, the implementation of the Marshall Plan (European Recovery Program) and the Dodge Line (Recovery Program for Japan) prove the importance of creating capable institutions and their political cooperation with the affected countries to promote industrial growth and transition to post-industrial societies dominated by a significant share of the quaternary and quinary economy sectors. Practical relevance. The article’s authors analyzed the Recovery Plan of Ukraine compared with the reconstruction plans of European countries and Japan. The authors have identified the need for institutional support from international partners due to high corruption risks in Ukraine, the resource-based structure of the Ukrainian economy, and the need to stimulate economic development through investment, innovation, and building effective education, social security, and healthcare systems. Therefore, as part of Ukraine’s recovery policy, it would be reasonable to use mechanisms of institutional and political support from partners and economic development financing means to address the problem of institutional failure in Ukraine."

Effectiveness of Village Fund Management in Economic and Infrastructure Development

This study aims to determine the effectiveness of village funds for economic and infrastructure development in Salletto Village. The research method used was a qualitative research method which was taken using the results of interviews conducted with informants namely the Village Head, Village Secretary, Head of General Planning, Hamlet Head and the Community. Data collection methods used are observation, interviews and documentation. The results of the research obtained are that the Salletto Village Economic and Infrastructure Development program has been running quite well when viewed from three indicators of effectiveness starting from the planning indicator where a development program must exist and on time. Implementation indicators where the program planning results from deliberation meetings must be implemented. And the third indicator is monitoring and evaluation where the village government must be able to control the development being carried out so that it can find out whether the development is in accordance with the provisions or not.

The Role of Digital Finance in Economic Development: A Cross Country Analysis

Nations having strong infrastructure on digital platform are likely to have more acceleration in digital finance sector and reap the benefits of this sector. The term digital finance means to provide financial services through personal computers, mobile phones or any reliable digital payment system. Digital finance has the capacity to give convenient, inexpensive and firm banking services. Financial inclusion is a win-win situation that is fulfill by digital finance. Sufficient evidences confirms that internet penetration and mobile phones built up sturdy infrastructure for digital finance and thus support in boosting economic development. Therefore, the objective of this research is to examine the impact of digital finance on World’s economic development. By pursuing the fulfillment of objective, this study collected the data of 77 countries from during the period from 2011 to 2021 and adopted two step system Generalized method of moments (GMM) to inspect the effects of mobile cellular subscriptions and internet usage on economic development parameters. Our findings indicate that mobile cellular services and internet uses have better impact on economic growth and per capita income. These findings also proposes some major policy implementations especially for developing countries that they must adopt such policies which make better ground to promote digital financial system and thus move ahead to cashless economies in order to get immense benefits from it.

ANALISIS EFEKTIVITAS DAN EFISIENSI PENGGUNAAN DANA DESA DALAM PEMBANGUNAN EKONOMI PERDESAAN

This study aims to analyze the effectiveness degree and efficiency of village funds in economic development in Seteluk Atas village, West Sumbawa District in 2016-2021. The type of study used in this study was descriptive quantitative. The types of data used were quantitative and qualitative data, then the source of data in this study was secondary data. The data analysis technique used in this study was quantitative descriptive approach, namely by analyzing target data, expenditure realization and revenue using efficiency and effectiveness ratios. The results of the study showed that the effectiveness of using village funds in economic development in Seteluk Village, West Sumbawa Regency in 2016-2021 is in the less effective category. The village government has not been optimal in using village funds to realize rural economic development using village funds so that the development activities that have been carried out have not reached the set targets. The efficiency of using village funds in economic development in Seteluk Village, West Sumbawa Regency in 2016-2021 is in the very effective category. The use of village funds for rural economic development in Seteluk Village has been carried out efficiently, the output in the form of development activities that have been realized is lower than the budget input used to produce them.

ANALISIS SEKTOR TERTINGGAL KABUPATEN TAPANULI UTARA SEBELUM DAN SESUDAH COVID-19

This study aims to analyze the effectiveness degree and efficiency of village funds in economic development in Seteluk Atas village, West Sumbawa District in 2016-2021. The type of study used in this study was descriptive quantitative. The types of data used were quantitative and qualitative data, then the source of data in this study was secondary data. The data analysis technique used in this study was quantitative descriptive approach, namely by analyzing target data, expenditure realization and revenue using efficiency and effectiveness ratios. The results of the study showed that the effectiveness of using village funds in economic development in Seteluk Village, West Sumbawa Regency in 2016-2021 is in the less effective category. The village government has not been optimal in using village funds to realize rural economic development using village funds so that the development activities that have been carried out have not reached the set targets. The efficiency of using village funds in economic development in Seteluk Village, West Sumbawa Regency in 2016-2021 is in the very effective category. The use of village funds for rural economic development in Seteluk Village has been carried out efficiently, the output in the form of development activities that have been realized is lower than the budget input used to produce them.

MONITORING TATA KELOLA DANA DESA TAHUN 2020 KECAMATAN PULUNG KABUPATEN PONOROGO

The birth of Law Number 6 of 2014 concerning Villages has placed the position of the village as a customary law community unit in accordance with the rights of the origin of the village, so that village autonomy is recognized and respected in the government system of the Unitary State of the Republic of Indonesia.Village Funds are funds sourced from the State Revenue and Expenditure Budget allocated to Villages which are transferred through the district / city Regional Revenue and Expenditure Budget and used to finance government administration, development implementation, community development, and empowerment. The purpose of this study was to determine how the effectiveness of the use of village funds for economic development and empowerment of rural communities in the Pulung district, Ponorogo district.This research is motivated by the existence of problems related to the governance of village funds. The level of budget absorption, but in terms of the accountability report, has not carried out village financial administration properly. On the basis of these problems, this study aims to analyze the implementation of village funds in 2020 in Pulung District, Regency. Monitoring theory in this study uses Dunn in (1981) that the implementation of village funds must be based on honesty and legal accountability, process accountability, program accountability and policy accountability.This study uses a descriptive method with a qualitative approach. Research informants using purposive sampling technique. Data collection techniques using in-depth interviews and documentation. The data analysis technique used is interactive analysis consisting of data collection, data condensation, data presentation and conclusion drawing.

Pre‐requisites for infrastructure public‐private partnerships in oil‐exporting countries: The case of Saudi Arabia

AbstractThe evolution of public‐private partnerships (PPPs) within oil‐exporting states has not attracted sufficient attention from PPP scholars. Particularly, the Gulf‐Cooperation Council (GCC) states such as Saudi Arabia which has had a prolonged history of state‐led economic development and public funding of infrastructure projects is an interesting empirical context to explore how PPPs can become an instrument for infrastructure delivery. Plummeting oil prices since 2014 have urged Saudi Arabia to identify new forms of project organizing such as PPPs. The underlying argument of this paper is that delivering projects through the PPP route necessitates major reforms to the existing legal and regulatory frameworks, establishing relevant institutional support in the form of a PPP unit and developing a friendly business environment that could attract foreign investors to the country. This field report outlines the key reforms enacted by the Saudi government, and highlights pressing challenges that need to be addressed to drastically enhance Saudi Arabia's investment climate and enable the private sector's financing of mega‐infrastructure projects.

인구감소지역의 재정지출구조가 청년인구 순유입에 미친 영향력에 관한 연구

The depopulation problem in South Korea is considered from the viewpoint of local government. Recently, ｢Special Act on Support for Depopulated Areas｣ has been enacted in South Korea. 89 small cities that are in danger of extinction due to population decrease have been designated as depopulation area for intensive support from the federal government. The purpose of this research was to find the answer on how depopulation area designated can be manage their funds to induce young people. In this regard, this study examines the relationship between variation in local-level spending and population influx in the age ranging between 20 and 39 with depopulation cities located within Daegu, Busan, Gyeongsangnam-do, Gyengsangbook-do. The statistically significant evidence indicates that cities that spent more Economic Development-related funds Social Welfare-related funds led to more population influx aged 20 to 39. Otherwise this research has shown that more expenditure in General Administration section did indeed decrease levels of influx of young adult population aged 20-30. This evidence suggests that how well the financial expenditure related to Economic Development funds and Social Welfare funds are implemented, the new young population aged 20-39 successfully will be entered within the cities experienced population decline. This finding can be very informative for local governments with depopulation of rural areas.

Digital Payments, Fintech Trends and Shadow Economy in South East Asia Socio-Economic Realities And Suggestions for Further Research

The advancement of Fintech technological progress in emerging countries has accelerated the role of digital finance in economic development. Digital finance assists in financial inclusion, although emerging countries remain in the clutches of an informal and shadow economy which reduces the official GDP and the taxable income revenue, creating pressure on inclusion prospects. Using different contributions, the current study attempts to analyze the impact of digital finance on the shadow economy among selected South East Asian countries. It appears that digital payments can significantly reduce the size of the informal and shadow economy and are now an essential component in the public policies governments can implement to increase the official GDP, boost the tax revenue and finally to stimulate a real, balanced and sustainable development.

To the question of national, economic and financial security of Russia

The article reveals the theoretical aspects of the national, economic and financial security of Russia before the Great October Socialist Revolution, in the period from the formation of the Union of Soviet Socialist Republics (USSR) to its collapse and in the period of the modern history of the Russian Federation. the author's position of the activation of the global geopolitical crisis and geo-economic crisis (caused by the creation of new geo-economic centers for the development of the world economy) is given, which is an objective reason for the redistribution of the world caused by the next phase of the reproductive crisis and the global financial crisis in the world economy. the role of finance in economic development and ensuring economic and financial security at different historical stages of Russia, the USSR and the Russian Federation is shown. It is concluded that in the conditions of the global monocentric model of the functioning of financial capital, led by the United States, the countries of the economic "periphery" are forced to bear losses due to the monopoly dictate of the world financial centers of emission (primarily the dollar and the euro). the reasons for the destruction of the USSR are formulated, the main of which is: the destruction of the country's national security system by the top leaders of the USSR, the Russian Soviet Federative Socialist Republic (RSFSR) and other union republics of the Soviet Union. the principled character of the Soviet leadership in conducting a sovereign, national monetary policy is shown. the creation by the global financial system of conditions for overproduction of two world fully unsecured currencies (the dollar and the euro) and the formation of the potential of the global financial crisis are argued.

Foundations of Influence: Intervention Pathways of Foundation Influence on City Governance and Policy

Philanthropic foundations have assumed prominent roles in revitalizing distressed U.S. cities raising questions about their ongoing effects on governance and policy, institutions, access to decision-making, and outcomes. This exploratory, qualitative study examines foundation interventions in eight cities where foundations account for a substantial share of community and economic development financing. Foundations have significantly altered interventions which, when combined with their substantial giving and government austerity, significantly increases their potential for enduring influence on city governance and policymaking and fosters the growth of nonprofit governance in these cities.

Pension Funds as an Economic Growth Stimulator

The financial landscape has been evolving consistently with pension funds playing a significant role in intermediation by fostering the contributions from individuals and channeling the funds for overall economic development of the nation. The paper discusses the manifestation of Pension assets and systems in the economy alongwith the endowment of pension funds as institutional investors and systemic stabilizers.

Determinants of Sustainable Capital Budgeting Practice: A Structural Equation Modelling Approach

Across the globe, capital budgeting – the planning process of appraising an organisation‟s long term investments for funding – plays a pivotal role in economic growth by providing the platform for mobilising long-term funds for economic development. Capital budgeting practice refers to the aggregate tools/techniques for strategic investment decisions under risk and uncertainty conditions (Desai, 2019; Hillier et al., 2021). It involves a large cash outlay, expecting a future stream of benefits/income/return. Existing research suggests that financial and non-financial considerations influence managers‟ choices of CBTs across nations (Batri & Verma, 2017). One of the significant concerns of Oman‟s Ninth five-year development plan 2016-2020 is its focus on achieving a private sector-driven economy enabled by public-private partnership (PPP) projects and related growth strategies that will drive non-hydrocarbon and more excellent employment opportunities for the Omani nationals. To this end, the manufacturing sector is at the centre of Oman‟s Top 7 Sectors comprising other critical industries, including Construction, Wholesale and Retail Trade, Agriculture and Forestry, Real Estate and Business Activities, Private households with Employed Persons, and Hotels & Restaurants (MoCI, 2014). However, there has been very little academic research on capital budgeting with a focus on the manufacturing industry of Oman. Keywords: Advanced capital budgeting techniques (ACBTs), Confirmatory factor analysis (CFA), Oman, Real options valuation (ROV), Structural equation modelling (SEM).

Influence of distribution of zakat, Infaq And Shadaqah (ZIS), inflation and human capital on economic growth in Indonesia 2002-2021

Economic growth is one of the standards used to be able to see the success of economic development in a country. Indonesia, as a developing country, is actively carrying out development in a planned and gradual manner, without neglecting efforts for equity and stability. National development seeks to achieve high economic growth. Which in the end allows the realization of an increase in the standard of living and welfare of all people. In other words, a country that experiences high economic growth will be able to have a high effect on other fields, because when a country experiences economic growth, the national income of a country will be boosted up so that it can be allocated for financing economic infrastructure development. This study aims to determine the effect of zakat, infaq and shadaqah (ZIS), inflation and human capital on economic growth. This study uses time series data through data obtained at BPS from 2002-2021 as many as 20 samples with multiple linear regression method with SPSS. The results show that simultaneously zakat, infaq and shadaqah (ZIS), inflation and human capital have an effect on economic growth. Partially zakat, infaq and shadaqah (ZIS) and human capital have an effect on economic growth. Meanwhile, inflation has no effect on economic growth.

Optimizing the Utilization of Village Funds for Sustainable Village Development in Majene, Indonesia

This article explores Optimizing the Utilization of Funds for sustainable development. This study aims to analyze the Optimization of Village Fund Utilization. The research method used is observation, interviews, and documents. This study was analyzed using a phenomenological approach. The research subjects are the government and the village community. The results of this study indicated the Optimization of the Utilization of Village Funds through 6 forms, namely; 1) Village level consultations involving the community and community shops to accommodate various proposals; 2) Every Cash Inflow and Outflow is recorded by the treasurer, and closes the books every month in an orderly manner; 3) The Village Development Implementation Stage involves local communities to be empowered in the implementation of the Village Fund which prioritizes the poor so that their economy can also improve; 4) The development of village infrastructure is greatly benefited by the community; 5) the village apparatus capacity building program increases the motivation and performance of the village apparatus in carrying out their duties; 6) Community empowerment has representatives from BPD and LPM such as cultivation. Further research will focus on the use of village funds for economic development.

Systematic Mispricing: Evidence from Real Estate Markets

Despite the extensive advancement of knowledge in the field of empirical asset pricing, little is known about how this literature applies to asset classes beyond common stocks and bonds. In this paper we apply recent developments in financial economics, which posit an important role for limited market participation and financial intermediaries, in understanding real estate returns. The risk factors motivated by these theories have significant explanatory power for the cross-section of REITs. However, this relationship is the opposite of what we expected, and the results point to a more complex set of findings that are difficult to reconcile with risk-based explanations. Our results suggest systematic mispricing of real estate assets that is heavily influenced by investor sentiment.

Financial Role of Insurance on Economic Development in Denmark

The insurance plays an essential role in economic development by alleviating business risks occasioned by abrupt and disastrous incidents in established and developing nations. Thus, the research assessed the financial role of insurance on economic development in Denmark. The research adopted the descriptive research design. The target population was 200 insurance companies. The research study sampled 100 participants that were chosen from the target population of 200. The sampling technique that was considered the most appropriate was stratified. Questionnaires were utilized to gather the data. The study results showed that insurance is significant in impacting the economic development in Denmark. Insurance activity improves families and organizations' financial stability and helps with competitiveness and the growth of trade and business. Insurance companies help businesses mitigate risk and protect their employees, thus spurring economic development. In addition, insurance companies help finance economic development projects. The study recommended that more emphasis should be developed by all the stakeholders in Denmark, including the government, to ensure the insurance companies are sustainable. The regulatory authorities should establish policies to make it attractive for its residents to patronize the insurance business. This would certainly translate to enhanced insurance investment and more outcomes to the development of the economy because insurance investment has a positive link with GDP. Insurance policies must be made mandatory for people and enterprises to motivate and shield financiers and ensure sustained economic growth. Keywords: Insurance, Economic Development, Denmark

Assessing the Role of Digital Finance on Shadow Economy and Financial Instability: An Empirical Analysis of Selected South Asian Countries

The advancement in fintech technological development in emerging countries has accelerated the role of digital finance in economic development. Digital finance assists in financial inclusion; however, it may also increase the chances of financial instability due to systematic risks. Emerging countries are also in the clutches of shadow economic growth, which reduces taxable income revenue and creates pressure on financial inclusion prospects. The current study attempts to measure the impact of digital finance on the shadow economic growth and financial stability among the selected South Asian emerging countries. We have used the CUP-FM and CUP-BC estimation methods to measure the above relationship on two model frameworks from 2004 to 2018, with the former measuring the influence of digital finance on the shadow economy and the latter examining the relationship between digital finance and financial stability. In addition, the second-generation unit root test, and the Westerlund cointegration analysis are also employed to confirm the stationarity and cointegration among the variables. The result of the Westerlund’s cointegration confirms a long cointegration between the explanatory and outcome variables. Furthermore, the long-run estimation results conclude that an increase in digital finance helps in reducing the growth of the shadow economy among the selected sample countries. However, it also increases the likelihood of systematic risks and increases financial instability. The study also reveals that the control variables like unemployment and industrial productivity also have a significant influence on financial stability and the shadow economy. The findings will assist readers in comprehending how digital finance influences the shadow economy and promotes financial inclusion and stability in emerging nations.

External Debt and its Impact on Economic Development – A Case of BRICS Nations

Economic growth of a country carries its image in international markets and public debt forms part of its country's economic activity. Economies need funds for economic development and public borrowings become necessary to achieved it. While the developed economies are self-sufficient in terms of innovation and technological advancement, the smaller and developing economies have to make up their value addition and build up their competitive advantage. The study seeks to determine relationship between public debt and economic growth and to see if any policy changes can combat crisis and achieve economic progress. The study is premised on the understanding that many countries have been facing issues with external debt. Therefore, the study constructs a framework for rationalization of impact of government's external debt on economic growth of select countries, Brazil, Russia, India, China and South Africa (BRICS). Panel data analysis are conducted to provide a framework to check if there is any relationship between government's external debt and economic growth. It would be a useful exercise to find out the impact of former on the latter and the extent of the effect based on select factors.