Global Financial Research Articles

The importance of genotyping within the climate-smart plant breeding value chain – integrative tools for genetic enhancement programs

The challenges faced by today’s agronomists, plant breeders, and their managers encompass adapting sustainably to climate variability while working with limited budgets. Besides, managers are dealing with a multitude of issues with different organizations working on similar initiatives and projects, leading to a lack of a sustainable impact on smallholder farmers. To transform the current food systems as a more sustainable and resilient model efficient solutions are needed to deliver and convey results. Challenges such as logistics, labour, infrastructure, and equity, must be addressed alongside adapting to increasingly unstable climate conditions which affect the life cycle of transboundary pathogens and pests. In this context, transforming food systems go far beyond just farmers and plant breeders and it requires substantial contributions from industry, global finances, transportation, energy, education, and country developmental sectors including legislators. As a result, a holistic approach is essential for achieving sustainable and resilient food systems to sustain a global population anticipated to reach 9.7 billion by 2050 and 11.2 billion by 2100. As of 2021, nearly 193 million individuals were affected by food insecurity, 40 million more than in 2020. Meanwhile, the digital world is rapidly advancing with the digital economy estimated at about 20% of the global gross domestic product, suggesting that digital technologies are increasingly accessible even in areas affected by food insecurity. Leveraging these technologies can facilitate the development of climate-smart cultivars that adapt effectively to climate variation, meet consumer preferences, and address human and livestock nutritional needs. Most economically important traits in crops are controlled by multiple loci often with recessive alleles. Considering particularly Africa, this continent has several agro-climatic zones, hence crops need to be adapted to these. Therefore, targeting specific loci using modern tools offers a precise and efficient approach. This review article aims to address how these new technologies can provide a better support to smallholder farmers.

Co-creation and application of a framework for the de-prioritization of urban communities during insecticide-treated bed net mass campaigns for malaria prevention and control in Kwara State, Nigeria

BackgroundMalaria continues to be a major cause of illness and death worldwide, particularly affecting children under the age of five and those living in high-burden countries like Nigeria. Long-lasting insecticidal nets (LLINs) are one of the effective interventions for malaria control and prevention. In response to funding constraints in the Global Fund Grant Cycle 7, Nigeria’s National Malaria Elimination Programme (NMEP) aimed to develop an approach that maximizes the impact of limited malaria interventions by focusing on areas with the greatest need. We developed an urban LLINs distribution framework and a novel strategy, which was piloted in Ilorin, the capital of Kwara State.MethodsA participatory action research approach, combined with abductive inquiry, was employed to co-design a framework for guiding bed net distribution. The final framework consisted of three phases: planning, data review and co-decision-making, and implementation. During the framework’s operationalization, malaria risk scores were computed at the ward level using four key variables, including malaria case data and environmental factors, and subsequently mapped. A multistakeholder dialogue facilitated the selection of the final malaria risk maps. Additionally, data from an ongoing study were analyzed to determine whether local definitions of formal, informal, and slum settlements could inform community-level stratification of malaria risk in cities.ResultsAkanbi 4, a ward located in Ilorin South and Are 2, a ward in Ilorin East consistently had lower risk scores, a finding corroborated during the multistakeholder dialogue. A map combining malaria test positivity rates among children under five and the proportion of poor settlements was identified as the most accurate depiction of ward-level malaria risk. Malaria prevalence varied significantly across the categories of formal, informal, and slum settlements, resulting in specific definitions developed for Ilorin. Thirteen communities classified as formal settlements in Are 2 were de-prioritized during the bed net distribution campaign.ConclusionsThe framework shows promise in facilitating evidence-based decision-making under resource constraints. The findings highlight the importance of stakeholder engagement in evaluating data outputs, particularly in settings with limited and uncertain data. Enhancing surveillance systems is crucial for a more comprehensive approach to intervention tailoring, in alignment with WHO’s recommendations.

An Exploratory Study on Effective Leadership and Change Management in the Transformation of Indonesian Public Universities Towards World-Class University Status

This study aims to examine the influence of leadership styles on institutional transformation and to identify adaptive strategies for effective change management in the context of Indonesian Public Universities (PTNs) striving to achieve world-class university (WCU) status. Using a quantitative research design, data were collected from 125 universities through a hybrid questionnaire method involving Rectors, Directors, Vice Rectors, and Vice Directors as representatives. This study employed logistic regression to analyze the influence of leadership styles on the likelihood of PTNs achieving WCU status, alongside Structural Equation Modeling (SEM) for deeper insights. The study results indicate that transcollegial leadership increases the likelihood of universities achieving WCU status by 35%, while digital and entrepreneurial leadership contribute 25% and 20%, respectively. The primary challenges identified include inadequate digital infrastructure, resistance to change, and regulatory limitations. This study provides practical and theoretical contributions by identifying adaptive leadership strategies tailored to the unique contexts of PTNs. This study is significant as it addresses the leadership challenges specific to Indonesian public universities in their pursuit of international recognition, providing practical and theoretical insights for achieving sustainable transformation. Future research could examine how leadership styles interact with institutional policies and external factors, such as global rankings and funding mechanisms, to achieve and sustain WCU status. Expanding the scope to include comparative studies across different regions or educational systems could provide broader insights into effective strategies for institutional transformation.

Blockchain for Quality: Advancing Security, Efficiency, and Transparency in Financial Systems

This article delves into the transformative impact of blockchain technology on enhancing transaction quality and efficiency. Since the emergence of blockchain alongside Bitcoin in 2008, its decentralised and transparent nature has significantly improved transaction speed, security, and cost efficiency. These advancements have solidified blockchain as a foundational innovation in financial services. The paper examines critical milestones in blockchain, including Bitcoin, Ethereum, and Binance Coin (BNB), and their role in reshaping global finance by automating processes and reducing reliance on intermediaries. Additionally, the study evaluates blockchain’s impact on quality management, particularly emphasising how its immutable ledger system enhances the reliability and transparency of financial transactions. Despite challenges such as scalability, energy consumption, and regulatory hurdles, the potential for blockchain to redefine transaction quality in financial services is evident. This research contributes to the growing body of literature by integrating blockchain technology and traditional quality management systems, providing a comprehensive perspective on how the two domains influence one another. The findings underscore blockchain’s ability to drive innovation in financial services while addressing security, efficiency, and operational quality concerns.

Customer-Centric Value Assessment of Cryptocurrency Adaptation

Abstract This study examines Pakistani citizens’ behavioral intentions toward the adoption of cryptocurrency as a digital currency. Cryptocurrency refers to a form of currency that exists in digital or virtual form and relies on cryptography to ensure the security of transactions and regulate the generation of additional units. Cryptocurrencies have the potential to disrupt the global financial system. Cryptocurrency is a viable option for decentralized and secure transactions, offering enhanced transparency and lowering dependence on conventional financial institutions. The authors collected data from potential cryptocurrency customers or investors. Data were collected from Karachi (Pakistan). The study was conducted with the help of the diffusion of innovation theory (DOI), employing all its components (relative advantage, compatibility, complexity, trialability, and observability). The DOI model statements were modified and adapted to satisfy the requirements of this study. This empirical research report concludes that relative advantage (financial incentives, technology advancement, global accessibility, privacy and security, and P2P nature), compatibility (User-friendliness, Integration with existing systems, compatibility with digital lifestyles), and complexity (ease of use and mass adoption) contribute to the adoption. Trailability (lack of familiarity and risk aversion) and observability (limited exposure, lack of social proof, and negative stigma) are unrelated to customer behavior toward cryptocurrencies. In all these contexts, cryptocurrency adoption can enhance value co-creation. Finally, this study provides valuable insights for stakeholders.

Waterfront Redevelopment Five Decades Later: An Updated Typology and Research Agenda

Since the second half of the twentieth century, when maritime practices began migrating outside their traditional central city areas, urban regeneration at the water’s edge has been one of the key issues in port cities’ planning agendas. Waterfronts in port cities have become strategic areas for a range of reasons, such as economic growth, city branding, and addressing housing pressures. However, recent studies also show how their transformation is now more profoundly influenced by hypermobile capital and global finance, and by broad sustainability concerns. The established narrative of waterfront redevelopment as a response to weakening port‐city relationships no longer necessarily represents the present of all port cities, as more nuanced accounts are needed. With examples from Europe and across the world, this article reflects on waterfront redevelopment practices, by building on existing attempts to provide typologies and periodise the history of this phenomenon and focussing on the key approaches emerging in the last decades. It is argued that today’s approaches to waterfront redevelopment, and ultimately contemporary relationships between ports and cities, are changing and possibly differentiating from the “port out, city in” rationale underpinning past schemes. Current practices appear to be ranging from the wholesale transformation of redundant waterfronts into neoliberal urban spaces for consumption and capital accumulation to more “fine‐grained” planning strategies to build more (environmentally, but also economically, socially, and culturally) sustainable urban waterfronts by integrating or restoring port‐related activities within mixed‐used areas.

Financial Openness, Trade Openness, and Economic Growth Nexus: A Dynamic Panel Analysis for Emerging and Developing Economies

International market openness has long been regarded as critical for economic development, and recent evidence highlights the distinct roles of financial and trade openness, particularly in emerging and developing economies. This study examines the impact of financial and trade openness on economic growth in ten emerging and developing countries from 1970 to 2023. It employs a dynamic panel generalized method of moments (GMM) model, which is selected for its ability to address potential endogeneity and dynamic relationships within panel data. The analysis finds that both financial and trade openness positively influence economic growth and that stable macroeconomic conditions and political stability enhance these growth-promoting effects. In the context of growing geo-economic tensions, trade fairness, and national security concerns, the study underscores the need for policies that balance global integration with national interests. These findings suggest the importance of designing policies that promote greater integration into global financial and trading systems while ensuring sound macroeconomic fundamentals and supportive institutions. The study recommends that policymakers pursue strategic liberalization and strengthen governance structures to achieve sustained and inclusive growth.

Global finance capitalism: Rebirth or denouement?

The rise of neoliberalism is coincident with the dominance of financial capitalism in its global form. Moreover, there are those who would argue that neoliberalism is synonymous with global financial capitalism. There is no doubt that what we have witnessed during the ascendance of neoliberalism is the dominance of global finance capital over industrial capital. Yet, while the obituary of capitalism in this form has been penned multiple times, it remains very much alive, proliferating even on a global scale creating ever sharper cleavages between the (mega) rich and the growing masses of the poor. In this paper we examine neoliberalism as a policy regime and its role in the proliferation of global capitalism. The analysis takes the form of a consideration of key texts that examine the macro, meso, and micro incarnations of global finance capitalism. The architecture of global finance capital is examined through a consideration of asset managers who exert growing influence on contemporary development. The micro aspects of the system through which extraction of capital is facilitated are examined culminating in a consideration of the future of the system.

The contested IPE of green finance

In this commentary article, we engage with the papers in the special issue to unpack the categories of ‘green’ and ‘finance’ to surface key concerns within IPE about different forms of power and governance which we suggest are key to assessing the ‘green turn’ in global finance: how it is currently constituted, on whose terms and for what purposes.

Towards a green economy: Investigating the impact of sustainable finance, green technologies, and environmental policies on environmental degradation.

Environmental degradation is a problem, and the consequences, in terms of emission of pollutants into different ecosystems, human health, and sustainable development are disastrous. This study explains the complex interactions that exist among sustainable finance, green technology innovation, green energy adoption, the climate change financial policy, green growth index, government spending, and financial globalization across the globe. This research applies to an extensive dataset that ranges to 23 years in 50 countries by enforcing robust dynamic econometric methods such as unit root tests, cointegration analysis, and generalized method of moments (GMM) estimations for the analysis of these complicated issues. The results show that Sustainable finance (SF) has a negative coefficient of -0.033, suggesting that increased sustainable financial practices contribute to reducing environmental degradation. Similarly, technology innovation (TI) and green energy (GE) both show significant negative impacts on environmental degradation, with coefficients of -0.132 and -0.075, respectively. The green growth index (GGI) has the most substantial negative effect, with a coefficient of -0.686, highlighting its critical role in mitigating environmental degradation. Lastly, the climate-related financial policy index (CRFPI) exhibits a positive coefficient of 0.029, indicating that advancements in financial policies targeting climate issues slightly offset environmental degradation. These results collectively emphasize the importance of financial, technological, and policy interventions in reducing environmental degradation. It also becomes clear that government spending and financial globalization both influence the efficacy of the government actions in reducing environmental pollution, while government efforts are affected by the second factor negatively. Those perceptions reveal why green finance that is advanced technologically along with renewable energy initiatives and governmental policy backing are the need of the hour in view of these very environmental challenges.

The era of no review: an appraisal on transparency in global health funding.

The era of no review: an appraisal on transparency in global health funding.

PCI DSS: A Critical Analysis of Implementation, Effectiveness, and Legislative Impact in Payment Card Security

The Payment Card Industry Data Security Standard (PCI DSS) has emerged as a pivotal framework in securing payment card transactions across global financial systems. This article presents a comprehensive analysis of PCI DSS, examining its evolution from disparate security programs to a unified standard, technical framework, and implementation challenges across different merchant levels. The article evaluates the effectiveness of the compliance validation mechanisms, including self-assessment questionnaires and third-party assessments, while analyzing the standard's incorporation into state legislation and its legal implications. This article reveals a complex relationship between compliance validation and actual security effectiveness by examining documented security breaches and industry responses. The findings indicate significant gaps between formal compliance and real-world security outcomes, highlighting the need for a more dynamic approach to payment card security. This article contributes to the ongoing discourse on payment security standards by identifying key challenges in implementation and suggesting potential areas for improvement in future iterations of the standard.

Moving forward together: collaborative strategies in HIV prevention across Africa – a narrative review

HIV remains a major public health challenge across Africa, with the region accounting for nearly 70% of the global HIV burden. Despite significant advances in HIV prevention, treatment, and care, the epidemic continues to disproportionately affect certain populations, exacerbating health disparities and posing a barrier to socioeconomic development. This narrative review explores collaborative strategies in HIV prevention across Africa, focusing on multi-sectoral approaches, community-based interventions, and international partnerships. The review emphasizes the critical role of local communities, healthcare systems, and government organizations in reducing HIV transmission, with a particular focus on the importance of tailored prevention programs for vulnerable populations. Key strategies highlighted in the review include the integration of HIV prevention into broader public health initiatives, such as reproductive health, education, and poverty reduction programs. Community-based interventions, especially those involving community health workers (CHWs) and peer education, have proven effective in reaching at-risk populations. Additionally, international partnerships and funding from organizations like PEPFAR and the Global Fund have been instrumental in scaling up HIV prevention efforts, providing essential resources and technical support. Regional collaborations, such as those between neighboring countries in East and Southern Africa, have also played a vital role in addressing cross-border transmission and providing services to migrant populations.

P-476. Pilot Implementation of HIV Self-Testing in Ghana: Analysis of the Community-Based Demand Generation Approach

Abstract Background Under the auspices of the Ministry of Health (MoH) and National AIDS/STI Control Programme (NACP), Ghana piloted an HIV Self-Testing (HIVST) project in 2023. The implementation took place in 50 HIV high burden districts and it was spearheaded by Ghana HIV and AIDS Network (GHANET), a grassroots civil society organization (CSO) with membership across the country. This paper examines the strategies and outcomes of the project which was sponsored by the Global Fund and currently being expanded as part of Grant Cycle Seven (GC7) implementation from 2024 to 2026. Methods One hundred and fifty (150) volunteers from 50 community-based organizations (CBOs) were trained to distribute ORAQUICK HIVST kits to local residents in the selected districts. Video instructions on the effective use of the test kits (produced in English and six different Ghanaian dialects) were made available to persons who voluntarily received the kits. Through an online portal (GHANET Information Management System (GIMS)) data about the distributions were recorded. Follow-ups were conducted to ascertain, among others, how the kits were used. The data was quantitatively analyzed and descriptive statistics was used to summarize the data using Statistical Package for Social Science (SPSS v.28). Results A total of 123,088 ORAQUICK HIVST kits were distributed (with follow-ups) to 73,853 (60%) females and 49,235 (40%) males. Young people aged 20 – 24 received the highest number of kits totaling 28,790 which is about 23%, followed by those aged 25 – 29 who received 25,006 which is about 20% and those aged 30 – 34 who received 17,460 which is about 14%. A total of 422 persons comprising 304 (72%) females and 118 (28%) males self-reported their results as reactive. Of this number, 329 persons comprising 72% of females and 28% of males were confirmed positive. And, out of that number, 202 persons comprising 73% females and 27% males were successfully initiated on antiretroviral therapy (ART) in health facilities. Conclusion Male participation of 40% in the testing exercise was encouraging as it above the national average of 20% . It is therefore recommended that in Ghana, HIVST should, particularly, be targeted men. Disclosures All Authors: No reported disclosures

Eras of Monetary and Financial Dominance: A Copernican-Type Model of Multilayered Network with Endogenous Regimes

Abstract Purpose: Recent theoretical advances focus on the configuration and crises of the International Monetary System (IMS) and International Financial System (IFS) rather than their regime switchings. We argue that viewing the evolution of the IMS and IFS in the past several hundred years through the lens of the Copernican heliocentric system developed over five hundred years ago is insightful. Methods: The network representations used today for the study of the IMS and IFS can be directly transposed into the langage of stellar systems. We connect literatures in economic history and the theory of complex networks with some resonant concepts from astrophysics. We trace out the evolution across regimes of the IMS and IFS in terms of network representations of the Copernican system. Results: We provide a simple, fully testable theoretical model completed by a calibration exercise that does generate the observed historical dynamics. The IMS and IFS are described by a two-layer multiplex graph whose three key features (hub, core and distances) are affected by non-linear joint regime changes linked to a technological, institutional, geopolitical and regulatory environment variable. Conclusion: We conclude with a discussion of some perspectives of the future of the international monetary and financial systems, particularly with regard to the inertia of eras of monetary and financial dominance.

Finansal Gelişme ve Finansal Küreselleşmenin Finansal Piyasalara Etkileri: Türkiye Örneği

A multitude of factors exert influence on stock prices. In this era of globalized capital markets, characterized by the absence of borders and the interpenetration of economies, development and globalization have emerged as pivotal elements in shaping stock prices and financial returns. Noteworthy is the decision made in 1980 in Turkey, wherein policies aimed at import substitution were relinquished, and efforts toward liberalization and globalization were prioritized. In this context, a crucial undertaking entails the examination of capital market returns within Turkey, particularly in the context of development and globalization. This study utilizes a comprehensive econometric analysis, encompassing the period from 1997 to 2021, in order to examine the relationship between the ISE All Shares Closing Prices, Financial Development Index, and Financial Globalization Index. The study employs the Johansen Cointegration Test, a methodology that assesses the long-term relationship between variables that become stationary at the first difference. The research hypothesis posits that stock prices in Türkiye are influenced by globalization and development. The findings of this study revealed a cointegration relationship between the dependent variable, ISE All Shares Closing Prices, and the independent variables, Financial Globalization and Financial Development Indices. However, a long-term causality was identified from the Financial Development Index and ISE All Shares Closing Prices to the Financial Globalization Index.

Correction: Impacts of financial globalization on CO2 emissions in Asian countries and implications for Vietnam

Correction: Impacts of financial globalization on CO2 emissions in Asian countries and implications for Vietnam

Financial sanctions as an instrument of international policy

Today, financial sanctions are one of the most powerful instruments of international politics, allowing to influence states without the direct use of military force. The use of economic restrictions has become a comprehensive alternative to traditional methods of conflict resolution, providing the international community with a means of putting pressure on violators of international law. Over the past decades, sanctions have demonstrated their effectiveness in influencing economic and political processes in various countries around the world, such as Iran, North Korea and Russia. The issue of sanctions is particularly relevant in the context of the Russian-Ukrainian conflict, where they have become the main instrument of international response to aggression. In this regard, the study of financial sanctions as an instrument of international politics is gaining new significance, especially in the context of global economic interdependence. Studying the effectiveness of such measures, their impact on targeted states, as well as analysing possible consequences for the international financial system is an important task for both scholars and practitioners. The study revealed the key patterns of application of financial sanctions as an instrument of international policy. It was found that multilateral sanctions regimes that combine different types of restrictions are the most effective. The economic impact of sanctions is manifested through a decline in GDP, rising inflation and devaluation of the national currency of target countries, with the degree of impact correlating with the level of integration of their economies into the global financial system. The article reveals the growing role of secondary sanctions in enhancing the effectiveness of primary restrictions, although their excessive use can lead to fragmentation of the global financial system. In the context of the Russian-Ukrainian conflict, sanctions have demonstrated a significant economic impact, especially after 2022, but their political effectiveness remains limited. The results of the study point to the need to improve the mechanisms for applying financial sanctions by strengthening international coordination and developing more flexible sanctions regimes. The research materials are: 1) legal acts regulating financial sanctions as an instrument of international policy, including Ukrainian and international sources; 2) works of domestic and foreign authors who study the use of financial sanctions in global politics and their impact on economic and political processes. The following scientific methods were used: theoretical generalisation (to study the basic concepts and doctrines of financial sanctions as an instrument of international politics); analysis and synthesis (to study the impact of sanctions on the economic system of target countries and the political consequences of their application); comparative analysis (to compare the effectiveness of sanctions imposed by different countries and international organisations, in particular in the context of sanctions against Russia and Iran);formalisation method (for building a scheme of sanctions and assessing their impact on the international financial system).

Solidarity and its decoloniality in global health ethics

Solidarity is one of the emerging values in global health ethics, and a few pieces of bioethics literature link it to decoloniality. However, conceptions of solidarity in global health ethics are influenced primarily by Western perspectives, thus suggesting the decolonial needs to include non-Western perspectives. This article explores a decolonial interpretation of solidarity to enrich our understanding of solidarity. It employs a palaver approach, typical of African (Yorùbá) relational culture, in developing a conception of solidarity grounded in a beehive metaphor. Through a decolonial methodological approach, this article posits that a beehive metaphor allegorically symbolises solidarity. In this decolonial interpretive account, solidarity embeds relational virtues and duties that foster harmony. Solidarity is a positively oriented affective disposition with people with whom one shares similar circumstances for harmonious well-being through concerted efforts. This article addresses five potential objections to this account of solidarity in global health ethics and consequently explores what an African account of solidarity means for global health research funding. This article concludes that the palaver decolonial approach from the Global South has implications for expanding conceptual perspectives on solidarity in global health ethics.

Analysis of Problems and Countermeasures in China's Stock Market

As an important part of the global financial system, China's stock market has unique characteristics and challenges, such as high market volatility, information asymmetry, policy risks, and market mechanism defects. This paper aims to analyze these major problems facing the Chinese stock market and propose practical solutions. By studying the challenges of market volatility, information asymmetry, policy risks, insufficient investor education, and imperfect legal framework, this paper proposes countermeasures to improve the stability and efficiency of China's stock market. These countermeasures include improving policy transparency, promoting institutional investor participation, strengthening investor education, improving information disclosure mechanisms, and strengthening market supervision. The results show that by implementing these measures, market volatility can be effectively reduced, information transparency can be improved, market efficiency can be enhanced, and support can be provided for the sustainable development of China's stock market. This study provides valuable insights for policymakers, investors, and scholars to promote the healthy and stable development of China's stock market.