Financial Empowerment Research Articles

Exploring the role of financial empowerment in mitigating the gender differentials in subjective and objective health outcomes among the older population in India.

Despite the progress in achieving gender equality to a certain extent, women are found to be more susceptible to health disadvantages compared to men in the older ages. However, research in the Indian context has mainly remained restricted to subjective health that heavily depends on the individual's perception, which may affect the validity of results. This study addresses this gap by complementing the investigation of the gender differentials in self-reported health outcomes (mobility and functional limitations) with that of objectively measured health status (hand-grip strength and static balance) among the older population of India. Besides, there is a dearth of literature that considers financial empowerment in explaining the gender differentials in health. Women's ability to participate in household decision-making, especially for important matters like major purchases, including property, indicates their empowerment status. Furthermore, the ability to extend financial support can be considered an important 'non-altruistic' driver for kins to care for older adults, indirectly affecting their health and well-being. Thus, the present paper explores the influence of financial empowerment on gender differentials in poor health outcomes. Using the Longitudinal Aging Study in India, Wave-1 (2017-18), six logistic regression models have been specified to capture the adjusted association between gender and poor health outcomes. The first three models successively control for the demographic and social support factors; socioeconomic factors and pre-existing health conditions; and financial empowerment indicators. The last three models investigate the interactions between gender and marital status, living arrangement and involvement in financial decisions, respectively. The findings reveal that women tend to be more perceptive about their physical discomfort than men and reported a higher prevalence of poor subjective health. In terms of objectively measured health status, older men had a higher prevalence of low hand-grip strength but a lower prevalence of poor balance. Gender demonstrated a strong, adjusted association with poor health outcomes among older adults. However, the magnitude of gender difference either shrunk considerably or became statistically insignificant for all the poor health outcomes after controlling the effect of indicators of financial empowerment. Further, the interaction between gender and involvement in financial matters demonstrated a stronger effect for men in reversing poor subjective health. The study reinforced the positive effect of financial empowerment in mitigating gender disparity in health among older adults.

Influence of Agricultural Cooperative in Promoting Food Security in Ekiti State, Nigeria

The study examined the influence of agricultural cooperative societies in enhancing food security in Ekiti state, Nigeria. The study became imperative because of the prevailing food scarcity that has continued to ravage the state despite the larger part of the population engaging in farming of food crops. The study specifically examined the relationship between agricultural cooperative and food security in Ekiti State, Nigeria and specifically to examine the effect of farm supply inputs and cooperative credit facility in enhancing food security. The study adopted field survey research design through a total population of 47, 594 cooperative members across two senatorial zones in Ekiti State, Nigeria. A total number of 397 questionnaires were distributed, and 381 copies were returned. Validity and reliability of the instrument were established and the data obtained were analysed using descriptive statistics and paired sample t-test with the aid of SPSS version 20. The perception of members of food security revealed that adequate storage facilities can help to eradicate food scarcity as revealed by the mean value of 4.39. The also agreed that food security cab be enhanced through improvement on agricultural productivity by agricultural cooperative as shown by mean value of 3.59. All the mean responses of the cooperative members were more than 3.0 on farm supply inputs and credit facilities. This implies that members agreed that cooperatives contributed greatly to their financial empowerment and as well provided them with adequate farm inputs to improve their agricultural productivity. The study thereby recommended that, since farm inputs have a positive effect on food availability, hence, government stakeholders and respective management should not hesitate to provide farm input supplies to cushion the effect of pesticides on farm crops and plants and also, make credit facilities available to members to boost their plantation.

The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations

The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations

Profit or not: Education on picking the mutual fund

Low financial literacy causes finances to be managed not optimally, including household finances. On the other hand, women have a strategic role in the family, so that women's financial empowerment can have implications for the level of welfare. Various financial objectives can be achieved through selecting the right investment instruments, in accordance with the length of the investment and risk preferences. With proper analysis, mutual funds can be an investment option that offers various types of risk and return to manage finances. This article aims to summarize community service materials related to procedures for purchasing and selecting mutual funds so that people are wiser and more appropriate in investing.

Socio-Economic Characteristics and Empowerment of Women's Self-Help and Non-Self-Help Groups in Tamil Nadu

The research was undertaken in the Pudukkottai district of Tamil Nadu and focused on women's empowerment through Self Help Groups. This study included 50 women each from SHGs and non-SHGs. This study employed an ex-post facto research design. Data were collected through personal interview method. Descriptive statistics and a z-test were used to analyze the data. Relative Mean Weightage Scores (RMWS) were used to assess SHG women empowerment in the specified dimension. The findings showed that, in the socio-psychological dimension, SHGs women's active participation in SHG increased (1.90), their capacity to make decisions improved (1.88), and their self-confidence improved (1.76). Financial empowerment included timely repayments in accordance with procedure (1.96), a gain in income and the formation of a savings habit (1.94), and the use of available cash for the education and marriage of their wards (1.88). The most significant advantages related to familial empowerment were equal rights in the family (1.92) and technology, such as income-generating activities with their technical knowledge skill, including pickle/papad preparation (1.80). Since efforts must be made by the government and non-governmental organizations (NGOs) to offer appropriate capital, technical and land-holding support in value addition, marketing, and teaching women life skills for their empowerment through new policies and programmes.

The Nexus among Family Business, Household Finances and Women Empowerment: Evidence from PDHS 2017-18

Purpose: This study intends to determine whether family businesses empower women, encourage their entrepreneurship, and enable them to become fully engaged in activities that generate finances by allowing them to select their own business idea.
 Methodology: Empowering women is crucial for accelerating economic and financial progress. The question of the economic empowerment of women is of utmost importance to political philosophers, social scientists, and reformers because it is currently thought of as a sine qua non of progress for a nation. This study examines the relationship between women's financial empowerment, business, and the home using data from the 2017–18 Pakistan Demographic and Health Survey (PDHS). For this, we employed binary logistic regression.
 Findings: Women who are educated and have a job are more empowered than women who are not employed. Furthermore, economic and financial development cannot occur without the advancement of women. Women should be taught technical knowledge and marketing strategies and empowered to develop their skills to create more sustainable businesses.
 Contribution to literature: This study contributes to the literature in two ways: First, this study utilized the fertility variable which was not utilized in earlier studies. Second, this study identified the women empowerment factors by using four different indicators.

Effects of an E-Mentoring Program to Improve Youth Financial Empowerment

This study aimed to develop an e-mentoring youth financial education program and verify its effectiveness for promoting financial empowerment and establishing financial capabilities among independent consumers. A four-session, eight-hour “Youth Financial Empowerment Mentoring Program” was developed. This program dealt with financial literacy and financial psychology factors in an integrated fashion. We used the nonequivalent control group pretest-posttest design to evaluate the program’s effectiveness. Specifically, by using Zoom, a virtual conference platform, four mentors of college students were trained for four sessions over two weeks. Meanwhile, four groups were formed with four mentors and 18 high school mentees to implement a four-week e-mentoring program. As a result of the analysis of covariance, significant differences were found between the two groups in all financial psychology factors and financial literacy variables. In addition, the score of the experimental group was higher than that of the control group. As a result of qualitative evaluation through FGI for mentees and mentors, mentees experienced positive changes in financial behavior, beliefs, attitudes, and personal relationships, as well as increased financial knowledge. Meanwhile, mentors experienced positive changes in their introspection into financial behavior and consumption. Considering these results, we can conclude that this program effectively induces participants to learn and reflect on their initiative, which is in line with the original goal of “improving financial empowerment”.

AN ANALYSIS OF WAQF, ZAKĀT, QARḌ AND TAKĀFUL AS ISLAMIC SOCIAL FINANCE INSTRUMENTS: JURISTIC VIEWS

This paper discusses how waqf properties, zakāt and qarḍ which are Islamic social finance (ISF) instruments, can be used to assist different categories of low-income individuals and groups to achieve financial empowerment and widen their financial well-being. In addition, this paper explains how takāful products and services can prevent financial anxiety and strengthen the financial resilience of low-income individuals and groups against unpredictable shocks. Qualitative approach is used to review opinions of both classical and contemporary jurists from four major Sunni madhāhib namely, the Ḥanafiyyah school, the Mālikiyyah school, the Shāfiʽīyah school and Ḥanbaliyyah school on the useability and application of waqf, zakāt, qarḍ and takāful as social financing tools. In addition, the paper discusses ijtihād held by a number of Muslim jurists who are known for deep thought and their ability to scrutinise and compare opinions and views from different Shari’ah sources. As the result, the divergent views expressed by these jurists are to some extent reconciled to help the policymakers and other interested parties to have a clear understanding of the actual meaning of the concept of sufficiency of sustenance/need (ḥājah) and conditions that deem to appropriately align with the concept. This is expected to provide the basis for the policymakers to formulate policies and strategies for the intended beneficiaries who are the low-income individuals and groups who constitute the vulnerable groups in a society. 
 This research is supported by Ministry of Education (MOE) through Fundamental Research Grant Scheme (FRGS /1 /2021 /SS01 /UIAM /03 /3).

Investigating the Rural and Entrepreneurial Development through Microfinance

Microfinance has been evolving to be a decisive factor in poverty reduction, rural and entrepreneurial development. This research aims to find out the impact of microfinance on rural/socio-economic development and entrepreneurial skill development. Particularly, this study attempts to explore the impact of microfinance on social development, financial empowerment, education, healthcare, economic independence, and entrepreneurial development. Data was collected through questionnaires taken from the beneficiaries of the National Rural Livelihood Mission (NRLM) erstwhile Swaran Jayanti Shahri Rozgar Yojana (SJSRY) microfinance scheme in the Union Territory of Jammu and Kashmir, India. A purposive sampling method, exploratory factor analysis, and paired sample t-test were used in this study. The findings prove that microfinance facilitates social development, improved financial empowerment, and promotes decision-making relating to education and healthcare among beneficiaries. The finding also indicates that microfinance helps to increase entrepreneurial skill development among the beneficiaries. This study offers an insight how microfinance eliminates poverty and facilitates social development as well as entrepreneurial skills. These findings have essential implications for academics, policymakers, and microfinance institutions.

Effects of financial empowerment and self-confidence in financial empowerment on financial well-being

Effects of financial empowerment and self-confidence in financial empowerment on financial well-being

Decentralized Finance: A Potential Paradigm Shift for Financial Inclusion and Economic Empowerment

Decentralized Finance, or DeFi, is a financial ecosystem built on blockchain technology, aiming to recreate traditional financial services without the need for central authorities like banks or intermediaries. It is a growing ecosystem of financial applications and services built on blockchain technology. Unlike traditional finance, which relies on centralized institutions like banks, DeFi leverages peer-to-peer (P2P) networks to facilitate financial transactions. Traditional financial systems often leave individuals and communities, particularly those in developing economies or marginalized groups, excluded due to limited access, high transaction costs, and stringent regulations. Decentralized Finance (DeFi) emerges as a potential solution, leveraging blockchain technology to offer an alternative financial ecosystem built on transparency, disintermediation, and accessibility. This paper investigates the potential of DeFi in fostering financial inclusion and economic empowerment. DeFi has gained traction in India, with a growing interest in blockchain-based financial services. However, regulatory uncertainties have led to some cautiousness. Indian regulators are exploring frameworks to address potential risks while encouraging innovation in the DeFi space. As the regulatory landscape evolves, the adoption and development of DeFi in India are likely to be influenced by government policies and industry collaborations

STRENGTHENING HOUSEHOLD FINANCIAL RESILIENCE THROUGH FINANCIAL LITERACY IN PRE-PROSPEROUS WOMEN'S GROUPS IN MALATUNRUNG PALOPO CITY

Women's financial skills in a household are critical, considering that some of the roles and responsibilities of household financial management usually rest with a woman. The implementation of this guidance to the community aims to strengthen household financial resilience through increasing financial literacy in the pre-prosperous women's group. This service implementation model uses two approaches to overcome partner problems. The first is by using the Heuristic model as a model for financial literacy education and the Enthrepreneurship Capacity Building (ECB) model for empowering partner household entrepreneurship. As a result of the implementation of this community partnership program, there was a fairly good increase in knowledge and understanding of individual finances and household financial management of pre-prosperous women's groups in Malatunrung village compared to what was previously very lacking. The empowerment and resilience of households economically also increase with the skills possessed in utilizing local resources and processing them into products that have high economic value. There was a 100% increase in the new skills of partners who were pre-prosperous women's groups. This community partnership program provides an opportunity to improve individual skills for women that are not acquired in formal education programs, thereby increasing household financial empowerment and resilience that contribute directly to household welfare.

Developing and Validating Constructs: A Pragmatic Measurement of Financial Inclusion as a Tool for Sustainable Growth

Given the ubiquity of sustainability, the study attempts to develop and validate measurement constructs for financial inclusion. Further, it empirically examines the statistical relationship between validated constructs of financial inclusion and financial empowerment of blue-collar migrant workers. This empirical study proposes an exclusive research framework to inspect the development and validation of measurement scales for financial inclusion in the context of sustainable growth in India. The primary data were collected using the structured interview schedule among 268 blue-collar migrant workers. The Exploratory Factor Analysis (EFA) was employed to validate measurement constructs of financial inclusion and examine their hypothetical and conjectural relationships with the help of multiple correlation analysis. This paper identified eight valid and reliable underlying constructs of financial inclusion with the help of an exploratory factor study. The underlying constructs are ease of access, usage, availability, affordability, physical proximity, awareness and knowledge, financial literacy, and financial empowerment. Further, the outcomes of this study also confirmed that the underlying constructs of financial inclusion have a significant positive influence on the financial empowerment of blue-collar migrant workers.

Exploration and Analysis of Collaborative Matching Algorithm Empowering Large Data Fiscal Budget

At present, many budget companies have realized high-level computerized accounting and have high-speed and advanced database management systems. In order to adapt to the growth of budget entity informatization, the financial department must improve its own financial budget level. Introduce information technology, and develop corresponding financial budget software to better perform its own financial calculation function. This paper explores and analyzes the full collaborative matching algorithm of enabling big data financial budget and builds a financial big data financial budget platform through offline and online data collection. Combined with the matching algorithm and linear regression prediction algorithm in data analysis, the financial data is analyzed in depth. Finally, the PSO-SA algorithm runs 10 rounds on the datasets with matching scales d = 10 and 30, respectively. It is found that the fluctuation is large when d = 10 and relatively stable when d = 30 . When d = 10 , the maximum value is 7.2354, and the minimum value is 6.9969. When d = 10 , the maximum value is 26.6403, and the minimum value is 23.9599. It can be concluded that when d = 0 , PSO-SA can obtain a relatively good matching scheme, but it is easy to fall into a local optimal solution. The superposition effect of “data + computing power + algorithm + scenario” can help enterprises make better decisions. Embed complex analysis into daily management and trading scenarios to build a financial empowerment platform. Make the increasingly complex work more automated and intelligent, and improve financial efficiency.

Assessment Of N-Power Programme On Beneficiaries’ Economic Life In Gombe, Nigeria

The purpose of the study was to assess the contribution of N-Power programme to beneficiaries’ economic life in Gombe, Nigeria. Precisely, the objectives of the study were to identify the categories of N-Power beneficiaries, the extent of influence on their economic life and the impediments of the N-power programme in Gombe. This study utilized the survey design. Yamane’s formula for determining sample size was used to select 400 persons for the study. Stratified random sampling technique was adopted, where the entire target population was grouped into strata to reflect the beneficiaries of N-teach, beneficiary schools and the government officials. Questionnaires were used to collect data, while key informant interview was used to complement the questionnaire. Furthermore, the study used tables, figures and percentages for analysis of data. The study discovered that the beneficiaries of N-Power programme were mostly composed of non-graduates which comprised secondary school leavers and other skill acquisition aspects followed by the N-Teach, Health strand, N-Agro and Voluntary Assets and Income Declaration Scheme (VAIDS) strands respectively. The study also found that N-Power has improved the standard of economic life of the beneficiaries through poverty reduction, proficiency skills in ICT, financial empowerment, on-the-job experience and investment in small scale businesses. However, there were impediments confronted by the programme which included delay in payment of allowance, unpaid allowances, distance to working places and lack of supervision. The study therefore, recommended prompt and timely payment of the stipends to beneficiaries of the programme by federal government, timely sorting of problems of unpaid allowances, posting nearest to place of residence and teacher education for N-Teach categories as well as proper supervision.

PENGARUH AKUNTABILITAS PENGELOLAAN KEUANGAN DANA DESA DAN PEMBERDAYAAN MASYARAKAT TERHADAP KESEJAHTERAAN MASYARAKAT NAGARI KECAMATAN LINTAU BUO SUMATERA BARAT

This study aims to determine the effect of accountability for village fund financial management and community empowerment on the welfare of the Nagari community, Lintau Buo District. This research is a descriptive study with a quantitative approach, using multiple linear regression analysis using SPSS version 16. The population in this study were all Nagari Devices and Community Leaders in Lintau Buo District and sampling using purposive sampling technique with 44 respondents. The results of the test are that the accountability of village fund financial management has a positive and significant effect on the welfare of the Nagari community and community empowerment positively and significantly on the welfare of the Nagari community.

A CASE STUDY ON LIFE MISSION SCHEME IN PIRAVOM MUNICIPALITY, ERANAKULAM DISTRICT, KERALA

It is essential for every country to have a policy which provides access to adequate shelter to its population especially to the poorest and vulnerable with the basic amenities of water, sanitation, and domestic energy. A massive housing campaign was organized to build houses for families having no land or housing. Emphasis will be on financial empowerment and providing means for livelihood. All landless and homeless will be rehabilitated. The present housing schemes of Government of Kerala like LIFE Mission has positive impact on human development particularly in rural areas. To provide quality housing options to the underprivileged sections of society, the Kerala government has unveiled a Livelihood Inclusion and Financial Empowerment (LIFE) programme. KEY WORDS: LIFE MISSION, Beneficiaries, Piravom Municipality

AN ANALYSIS TO STUDY THE FINANCIAL EMPOWERMENT OF WOMEN

Financial Empowerment of women is in the discourse of the intellectual class since long, therefore, this study has been undertaken to investigate the financial empowerment of women. This study is a humble attempt to explore the level of financial empowerment of the women folk in the society. In this regard, the findings of the study puts forth that the women folk, despite, getting financially independent, yet they are not fully independent to make their spending and investment decisions. The study, states that the spending patterns of women folk are highly controlled by the men folk as they do complain if women folk spend or invest their income without taking men folk into confidence. Therefore, it can be said that the women folk still have to go a long way in order to achieve the freedom of spending and investing their income without any interference from the men folk and attain a real financial empowerment.

Predicting Remission among Perinatal Women with Depression in Rural Pakistan: A Prognostic Model for Task-Shared Interventions in Primary Care Settings.

Perinatal depression is highly prevalent in low- and middle-income countries (LMICs) and is associated with adverse maternal and child health consequences. Task-shared psychological and psychosocial interventions for perinatal depression have demonstrated clinical and cost-effectiveness when delivered on a large scale. However, task-sharing approaches, especially in LMICs, require an effective mechanism, whereby clients who are not likely to benefit from such interventions are identified from the outset so that they can benefit from higher intensity treatments. Such a stratified approach can ensure that limited resources are utilized appropriately and effectively. The use of standardized and easy-to-implement algorithmic devices (e.g., nomograms) could help with such targeted dissemination of interventions. The present investigation posits a prognostic model and a nomogram to predict the prognosis of perinatal depression among women in rural Pakistan. The nomogram was developed to deliver stratified model of care in primary care settings by identifying those women who respond well to a non-specialist delivered intervention and those requiring specialist care. This secondary analysis utilized data from 903 pregnant women with depression who participated in a cluster randomized, controlled trial that tested the effectiveness of the Thinking Healthy Program in rural Rawalpindi, Pakistan. The participants were recruited from 40 union councils in two sub-districts of Rawalpindi and randomly assigned to intervention and enhanced usual care. Sixteen sessions of the THP intervention were delivered by trained community health workers to women with depression over pregnancy and the postnatal period. A trained assessment team used the Structured Clinical Interview for DSM-IV current major depressive episode module to diagnose major depressive disorder at baseline and post-intervention. The intervention received by the participants emerged as the most significant predictor in the prognostic model. Among clinical factors, baseline severity of core-emotional symptoms emerged as an essential predictor, followed by atypical symptoms and insomnia. Higher severity of these symptoms was associated with a poorer prognosis. Other important predictors of a favorable prognosis included support from one’s mother or mother-in-law, financial empowerment, higher socioeconomic class, and living in a joint family system. This prognostic model yielded acceptable discrimination (c-statistic = 0.75) and calibration to aid in personalized delivery of the intervention.

WAKAF TUNAI DAN PENGENTASAN KEMISKINAN

Cash waqf has become one of the important instruments in Islamic economics. Cash waqf has two functions. First, it functions as a medium for taqarrub (getting closer to Allah SWT) and secondly as a means to achieve prosperity and welfare of society. Management of cash waqf can be used as an instrument for poverty alleviation programs through sustainable investment. In this program, cash waqf will participate in government programs that are oriented towards community empowerment through cash for work. cash for work is an activity to empower rural communities, especially the poor and marginalized, which is productive by prioritizing the use of local resources, labor, and technology to provide additional wages / income, increase purchasing power, reduce poverty and so on. So that cash waqf has a strategic role in community financial empowerment. Keyword: Cash Waqf, Labor Intensive, Investment, Money