Innovative Instruments Research Articles

Ceremonial Economics: A Social-Institutional Analysis of Universities, Disciplines, and Academic Positioning

What is the future of the university? Many have attempted to unpack what emerging technologies, political pressures, and social scrutiny can do to the status and innovative capacity of universities. While much of the literature has focused on either documenting innovation over practice in research/teaching techniques, or critical reflections on how university business models and academic labor are under threat, less has been debated on the impacts and processes of such changes from a systemic institutional perspective. This article develops a three-fold social-institutional framework to explore the process, purpose, and positioning of changes in knowledge production. I use the case of the economics discipline to explore how institutional ceremonial values, the policing of knowledge creation, and academic cultures as a hierarchical system of prestige can indicate potential structural change. Existing tensions between instrumental innovations and traditional ceremonial aspects that permeate both the university system and the economics discipline suggest two hypotheses to understand future change: (i) a ceremonial encapsulation of new technologies by old structures, exacerbating existing inequalities and monopolies within expertise positioning; or (ii) the rise of new and inclusive cultures within the principles of epistemic democratization and pluralism, co-existing with a new economic and social model of knowledge

Robotic thoracic surgery using the single-port robotic system: Initial experience with more than 100 cases.

This study aimed to report the initial experiences of 115 patients who underwent robotic thoracic surgery using the da Vinci single-port robotic surgical system (Intuitive Surgical). Robotic thoracic surgery using the da Vinci single-port robotic surgical system was performed on 115 patients between November 2020 and June 2023. Patient characteristics, intraoperative outcomes, and postoperative outcomes were analyzed retrospectively. The type of surgeries included thymectomy, mediastinal mass excision, anatomical pulmonary resection (including lobectomy and segmentectomy), esophagectomy, and enucleation of esophageal submucosal tumors in 41, 13, 54, 5, and 2 patients, respectively. The mean total operative time and chest tube duration for different procedures were as follows: thymectomy, 152.9. ± 6.7minutes and 1.2±0.5days; mediastinal mass excision, 93.3±26.5minutes and 1.0±0days; anatomical pulmonary resection, 187.2±55.8minutes and 2.5±1.5days; esophagectomy, 485±111.9minutes and 12±4.6days; and enucleation of esophageal submucosal tumors, 170±30minutes and 5.5±0.5days, respectively. Conversion to a thoracotomy or sternotomy was not required. Conversion to video-assisted thoracic surgery occurred in 1 patient, and an additional port was applied in 2 patients. Two patients experienced postoperative complications greater than grade IIIa. Robotic thoracic surgery using the da Vinci single-port robotic surgical system is feasible and safe in various fields of thoracic surgery, including complex procedures such as anatomical pulmonary resection and esophagectomy. More complex thoracic surgeries can be performed with the continuous advancement and innovation of instruments in robotic systems.

The impact of the COVID-19 crisis on the fiscal positions in the euro area countries

Motivation: The selection of the topic stems from the threat of a debt crisis in the euro area, as a result of the COVID-19 pandemic. The main research hypothesis has been formulated as follows: the COVID-19 pandemic has caused a significant deterioration of the fiscal situation in all euro area countries, which has led to a debt crisis within the zone.Aim: The main purpose of the article is to analyze and assess the impact of the COVID-19 crisis on the fiscal positions of the euro area countries, primarily from the perspective of the fiscal rules included in the Maastricht Treaty and the Stability and Growth Pact.Results: The COVID-19 pandemic led to a sharp economic collapse in the eurozone in 2020. Consequently, fiscal rules were suspended, allowing the member countries to undertake significant fiscal interventions to mitigate the effects of the crisis. The pandemic thus forced the authorities in these countries to employ Keynesian methods to sustain the economy. As a result of the severe recession and the temporary emergency measures taken, public finances in the member states suffered significantly. The huge increase in the public debt ratios of some of these countries did not trigger a new debt crisis, however. The new system of economic governance, which enabled the establishment and use of innovative stabilization instruments at supranational level, proved to be of great support here. The main research hypothesis has not been therefore entirely confirmed. The mutually reinforcing effects of the eurozone’s fiscal policy and monetary policy were crucial for mitigating the effects of the COVID-19 crisis in its countries and supporting the economic recovery thereof in 2021–2022. The rapid development of the crisis has revealed the difficulties in the application of fiscal policy assessment indicators. Changes in the surveillance should lead to improved regulatory clarity and reduced regulatory complexity.

Evaluating offsetting as a component of biodiversity governance

AbstractBiodiversity offsetting is considered to be an innovative policy instrument to balance land use changes with conservation priorities. Although advocates have pushed to establish biodiversity offset markets for over 20 years and critics have contested the social and ecological implications of such policy innovations, in practice, offsetting schemes have been difficult to set up, replicate, and sustain over time. Observing the underperformance of biodiversity offsetting, we argue that a critical analysis is urgently needed. We identify a need to analyze offsetting in relation to other features of biodiversity governance rather than focus on the merits and flaws of offsetting as a standalone policy instrument. Using a set‐theoretic model, we consider how different institutional arrangements determine if and when biodiversity offsetting produces positive environmental outcomes. We find that offsetting adds to biodiversity governance only when three thorny challenges are met—muscular enforcement of environmental regulations, rigorous impact management aligned with the mitigation hierarchy, and the existence of evidence‐based and cost‐effective platforms for offsetting. Short of these conditions, outcomes are either uncertain or outright harmful to biodiversity. Reflecting more broadly on the prospects of institutionalizing offsetting mechanisms for protecting biodiversity, we conclude a need to recenter attention toward the supportive role of the state in facilitating effective policy innovations.

Biopiezoelectromagnetic and mechanical effect

The study of the functional living organism through biological phenomena and their piezoelectric and electromagnetic interaction of particles and energy in the functional cells of organ systems that sustain life through homeostasis, and their relationship with the external environment, can be observed as a unique effect called the biopiezoelectromagnetic effect. Research in sciences, combined with the use of innovative technological tools and instruments at scales ranging from the subatomic to the astrophysical, have made it possible to observe, through these individual or combined effects, a phenomenon that is repeated in all structures: the conservation of elemental information. This approach makes it possible to research from the particle to the functional living organism in its environment and vice versa. It is possible to propose theories that link energy, particles and cells and their organised structural complexes within the same framework, analysing the biopiezoelectromagnetic effect and the constant effort to maintain the homeostasis of living organisms in an entropic environment. Biomaterials composed of crystals and quasicrystals promote the piezoelectric effect in living tissue-biomaterial contact. The piezoelectric effect is already known to stimulate and form a fibrocartilaginous bone callus and its subsequent hardening into mature bone but has never been directly associated with homeostasis, osseointegrated implants and biomaterial bonding. The synthesis described by evidence-based experiments over the past centuries is robust to describe the biopiezoelectromagnetic effect as a cascade of events in the functional living organism to maintain homeostasis and its binding properties as the basis of osseointegration and the foundation of biocompatibility.

Is there a relationship between climate policy uncertainty and green finance? Evidence from bootstrap rolling window test

This paper discusses time-varying causalities between climate policy uncertainty (CPU) and green finance market, and filling the research gap in revealing their internal dynamic connections. Using rolling-window technique, the empirical findings demonstrate that CPU exert positive and negative impact on green finance market, represented by the green bond index (GBI) during certain time intervals, which do not entirely support theoretical basis. Similarly, the study also uncovers inconsistent conclusions regarding the influence from GBI to CPU among different causal periods, indicating the function of green finance in alleviating climate change is complex. These deviations between variables can be attributed to factors, such as early-stage green bond market, shifts in climate policies, the impact of COVID-19, and underlying macroeconomic fundamentals. The study identifies heterogeneities of the causal relationships in different time intervals, and the bidirectional influence under specific circumstances, offering fresh insights for existing theoretical framework. Several policy implications are thus provided from multiple aspects, such as standardization of green bonds, innovation of green financial instruments, and development of long-term climate governance strategies. These measures can facilitate a positive role for climate policy and green finance in pursuing harmonious development.

Energy Finance and Carbon Finance: Key Roles of the Financial Community in Addressing Climate Change

Climate change presents a formidable challenge to humanity, demanding urgent action from all sectors of society. The financial community, with its significant influence and resources, plays a crucial role in addressing this global crisis. This paper explores the roles of energy finance and carbon finance within the financial sector in the context of mitigating climate change. It examines the mechanisms through which financial institutions can contribute to the transition towards low-carbon economies, including investment strategies, risk management approaches, and the development of innovative financial instruments. Furthermore, it discusses the potential synergies between energy finance and carbon finance in facilitating the transition to a sustainable energy system and reducing greenhouse gas emissions. By leveraging their expertise and resources, financial institutions can become key enablers of climate action, fostering the necessary investments and incentives for the decarbonization of the global economy.

ENHANCING GLOBAL COMPETITIVENESS OF U.S. SMES THROUGH SUSTAINABLE FINANCE: A REVIEW AND FUTURE DIRECTIONS

Small and Medium Enterprises (SMEs) play a vital role in the economic fabric of the United States, contributing significantly to employment generation, innovation, and economic growth. Amidst increasing globalization and growing environmental concerns, the imperative for SMEs to enhance their global competitiveness while embracing sustainability has become paramount. Sustainable finance offers a promising avenue for achieving these dual objectives by integrating environmental, social, and governance (ESG) criteria into financial decision-making processes. This paper provides a comprehensive review of the literature on enhancing the global competitiveness of U.S. SMEs through sustainable finance, while also suggesting future directions for research and practice. The review highlights the growing importance of sustainability considerations in finance and the evolving landscape of sustainable finance instruments available to SMEs. It underscores the potential benefits of integrating sustainability into SME financing, including improved risk management, enhanced access to capital, increased market competitiveness, and positive environmental and social impacts. Furthermore, the review examines the challenges and barriers faced by SMEs in adopting sustainable finance practices, such as lack of awareness, limited access to expertise, and perceived costs. In proposing future directions, the paper emphasizes the need for targeted research to address the specific needs and constraints of SMEs in sustainable finance adoption. This includes exploring innovative financial instruments tailored to SMEs, enhancing financial literacy and awareness among SMEs, fostering collaboration between financial institutions, policymakers, and SMEs, and leveraging technology for scalable and cost-effective solutions. Ultimately, the paper advocates for a holistic approach that recognizes the interplay between financial, environmental, and social factors in driving SME competitiveness. By embracing sustainable finance, U.S. SMEs can not only enhance their global competitiveness but also contribute to broader societal and environmental goals, thereby fostering a more resilient and inclusive economy.
 Keywords: Small and Medium Enterprises (SMEs), Sustainable Finance, Global Competitiveness, Environmental, Social, Governance (ESG), Financial Inclusion, Innovation, Economic Growth.

Development of digital financial instruments and their use in the activities of entities of the pharmaceutical industry of Ukraine


 
 
 The pharmaceutical industry of Ukraine is an important component of its economy and the health of its population. At all stages of its development, it was and remains the centre of innovations, where the scientific and technological potential of the region is concentrated.
 Theoretical and practical aspects of the development of innovative digital financial instruments and financial support were investigated and on their basis the activities of enterprises of the pharmaceutical industry in the conditions of the digital economy and electronic commerce as the most perspective segment of the modern market in the conditions of restrictions on direct contacts and the movement of people due to measures to combat the pandemic have been studied, military actions and security of people have been studied. It was determined that financial instruments can be conditionally divided into traditional and digital. They have similar content, functions, and features, however, they have different spheres of manifestation, advantages, disadvantages, and risks. At the same time, the implementation of digital financial instruments allows to significantly save the time of entrepreneurs and customers or services; it also saves cash; simplifies administration and, as a result, it increases the profitability of enterprises, in particular, the pharmaceutical industry.
 The study shows wide opportunities for the development and application of embedded finance in the pharmaceutical sphere with the aim of increasing business profitability by saving time, premises and other means of providing and implementing financial activities; and economic benefits to consumers and partners; optimization of business processes and management of activities in general; promotion of innovation, investment and integration processes.
 
 

Natural Language Processing Tools for Romanian – Going Beyond a Low-Resource Language.

Advances in Natural Language Processing bring innovative instruments to the educational field to improve the quality of the didactic process by addressing challenges like language barriers and creating personalized learning experiences. Most research in the domain is dedicated to high-resource languages, such as English, while languages with limited coverage, like Romanian, are still underrepresented in the field. Operating on low-resource languages is essential to ensure equitable access to educational opportunities and to preserve linguistic diversity. Through continuous investments in developing Romanian educational instruments, we are rapidly going beyond a low-resource language. This paper presents recent educational instruments and frameworks dedicated to Romanian, leveraging state-of-the-art NLP techniques, such as building advanced Romanian language models and benchmarks encompassing tools for language learning, text comprehension, question answering, automatic essay scoring, and information retrieval. The methods and insights gained are transferable to other low-resource languages, emphasizing methodological adaptability, collaborative frameworks, and technology transfer to address similar challenges in diverse linguistic contexts. Two use cases are presented, focusing on assessing student performance in Moodle courses and extracting main ideas from students’ feedback. These practical applications in Romanian academic settings serve as examples for enhancing educational practices in other less-resourced languages.

Exploring the validity and reliability of Active Motor Card: A Comprehensive Assessment of Gross Motor Development and Physical Fitness in Children Aged 6-9 Years

This research presents the Active Motor Card, an innovative evaluation instrument meticulously designed to comprehensively assess gross motor skills and physical fitness development in children aged 6-9 years. The study identifies the essential elements of motor development and physical fitness, highlighting the need for tailored assessments within this age group. The research delineates the process of development, encompassing an extensive review of existing literature, formulation of hypothetical tests, evaluation of content validity, empirical validation, and reliability assessment. The resultant Active Motor Card is validated by experts, thereby demonstrating its alignment with the target population's characteristics. Furthermore, the Gregory Analysis corroborates the appropriateness of each test item, indicating their level of difficulty or ease and their conformity with the expected characteristics of children aged 6-9. The reliability test, utilizing the Cronbach's alpha coefficient, affirms the consistency of the assessment. This product, designed for utilization in various settings, holds great potential as an effective instrument for monitoring children's motor skills and physical fitness, thereby making a positive contribution to the domains of physical education and sports. Further research is advisable to explore additional dimensions and enhance the assessment's validity, complexity, and representativeness across diverse populations. Keywords: Active Motor Card, gross motor development, physical fitness, children aged 6-9 years.

The Effect of Interest Rate Risk on Financial Performance with the Mediating Variable of Banking Security Level (Study on Commercial Banks that Go Public in BEI)

Rapid internal and external development has been witnessed by the banking industry, particularly at the domestic level, where the usage of innovative financial instruments has grown dramatically. Banks mediate transactions between different economic activity, receive deposits, create money, and offer thorough banking services to individuals, organizations, and other banks. They also provide credit facilities. As a measure of a nation's spending and investing habits, the interest rate plays a significant role in conserving money and choosing how to spend it. Banking institutions are beginning to understand the significance of risk management in preparing for potential threats to their businesses. Banking executives in Indonesia must mitigate these risks by enhancing their institutions' bottom lines. The purpose of this research was to examine the relationship between interest rate risk and financial performance in Indonesian banking organizations, with the level of banking security serving as a moderation variable. This quantitative analysis employs a sample of 24 commercial banks that have listed on the IDX between 2019 and 2022 as its research population. The findings shown that Interest Rate Risk significantly impacts Banking Security Level, Financial Performance, and Financial Performance via Interest Rate Risk via Banking Security Level.

A Review of Mass Spectrometry as an Important Analytical Tool for Structural Elucidation of Biological Products

Mass spectrometry (MS) is one of the most versatile analytical measurement tools available to scientists today and finds application in virtually most aspects of chemistry research. MS is an efficient method to elucidate the structure and chemical composition of different samples or molecule. Recently, it has been used to classify biological products, in particular proteins and protein complexes, in a number of species. The success of mass spectrometry is driven both by innovative instrumentation designs, especially those operating on the time-of-flight or ion-trapping principles, and by large-scale biochemical strategies, which use mass spectrometry to detect the isolated proteins. Due to MS capability to distinguish between substances, it is used to identify unknown substances and its isotopes. When compared with other analytical tools or orthogonal methods used in analytical laboratories, mass spectrometers are often used as it has less background interference since it is performed in a vacuum. The increase in sensitivity and resolution of the MS has opened new dimensions for structural elucidation of biological products. In this review, the recent research application of MS techniques for the structural elucidation of some biological products was presented.

DEVELOPMENT OF FINANCIAL RISK HEDGING STRATEGIES

The purpose of the study is to develop the theory of hedging, generalize approaches to the formation of effective risk hedging strategies, and provide recommendations for the implementation of international banks' experience in Ukrainian practice. It is proved that in the process of choosing effective strategies, it is advisable to distinguish three types of financial risk hedging: a) operational hedging (balance sheet) to ensure operational flexibility; b) market hedging (external), which involves the use of derivatives as instruments to hedge profit volatility; c) contract hedging (contractual clauses, embedded derivatives. Based on the analysis of the reports of 250 banks, it was found that Bank of America, JPMorgan Chase & Co., Goldman Sachs, Morgan Stanley, and Citigroup are the market makers in the most developed US futures market. Horizontal analysis of the balance sheets of these banks showed that although the share of derivatives designated as hedging instruments is insignificant (less than 1%) relative to term contracts recognized as trading instruments, the hedging effect is significantly higher than the gains on the trading portfolio. It was found that in international practice, the dominant direction is the hedging of interest rate risk (the share of which varies between banks from 42.52% to 61.26%), in the structure of hedging instruments, interest rate swaps prevail. The share of currency derivatives varies from 18.67% to 41.45%. Interest rate risk is hedged by over-the-counter bilateral term contracts for active operations, currency risk hedging equally covers the risks of passive and active operations. The regression analysis revealed that private credit and trading assets have an inverse effect on regional hedging exposure, and debt instruments have a direct effect. The study provides a basis for assessing the potential of using innovative risk-hedging instruments by Ukrainian banks.

International climate finance mechanisms: A review with focus on Africa

Climate change poses an unprecedented threat to the global environment, with far-reaching consequences for vulnerable regions, particularly in Africa. This paper provides a comprehensive review of international climate finance mechanisms, shedding light on their effectiveness in addressing climate-related challenges, with a specific focus on the African continent. As climate change continues to exacerbate existing vulnerabilities, understanding and optimizing the mechanisms through which financial support is channeled to affected regions becomes paramount. The paper explores a range of international climate finance mechanisms, including multilateral funds, bilateral agreements, and private sector initiatives. It assesses their strengths and weaknesses in terms of mobilizing resources, promoting sustainable development, and enhancing climate resilience. The analysis also delves into the evolving landscape of climate finance, considering the emerging role of innovative financial instruments and the potential for leveraging private sector investments to complement public funding. Focusing on Africa, the review examines the unique challenges faced by the continent, such as extreme weather events, water scarcity, and agricultural disruptions. It assesses the suitability and impact of existing climate finance mechanisms in addressing these challenges and supporting Africa's adaptation and mitigation efforts. The study also considers the effectiveness of capacity-building initiatives to enhance the ability of African nations to access and utilize climate finance resources efficiently. Furthermore, the paper highlights the need for enhanced transparency, accountability, and governance in the disbursement and utilization of climate finance in Africa. It emphasizes the importance of inclusive and participatory approaches that engage local communities and ensure that climate finance contributes to sustainable development goals while addressing the specific needs of the most vulnerable populations. This review provides a nuanced understanding of international climate finance mechanisms, offering insights into their application and impact in the context of Africa's unique climate challenges. By identifying opportunities for improvement and addressing existing gaps, the paper aims to contribute to the ongoing discourse on optimizing climate finance for a more resilient and sustainable future.

A conceptual framework for data-driven sustainable finance in green energy transition

As the world grapples with the urgent need for sustainable development, the transition towards green energy stands as a critical imperative. Financing this transition poses significant challenges, requiring innovative approaches that align financial objectives with environmental sustainability goals. This review presents a conceptual framework for leveraging data-driven techniques in sustainable finance to facilitate the transition towards green energy. The proposed framework integrates principles of sustainable finance with advanced data analytics to enhance decision-making processes across the financial ecosystem. At its core, the framework emphasizes the importance of harnessing vast datasets related to energy production, consumption, environmental impact, and financial performance. By leveraging machine learning algorithms and predictive modeling techniques, financial stakeholders can gain deeper insights into the risks and opportunities associated with green energy investments. Key components of the framework include data collection and aggregation, risk assessment, impact measurement, and investment optimization. Data sources range from traditional financial indicators to environmental metrics, social impact assessments, and geopolitical factors. Through comprehensive data analysis, financial institutions can assess the long-term viability and sustainability of green energy projects, while also evaluating potential social and environmental impacts. Risk assessment methodologies within the framework consider both financial risks, such as market volatility and regulatory uncertainty, and non-financial risks, such as climate change impacts and community resilience. By integrating these factors into risk models, investors can make more informed decisions that mitigate potential losses and maximize returns. Furthermore, impact measurement tools enable stakeholders to quantify the environmental and social benefits of green energy investments. By tracking metrics such as carbon emissions reduction, energy efficiency improvements, and job creation, investors can assess the contribution of their portfolios towards broader sustainability objectives. Finally, the framework incorporates investment optimization strategies that align financial goals with environmental objectives. Through portfolio diversification, asset allocation, and innovative financial instruments such as green bonds and impact investing funds, financial institutions can allocate capital more efficiently towards green energy projects. The conceptual framework presented herein offers a systematic approach to integrating data-driven methodologies into sustainable finance practices. By leveraging advanced analytics and comprehensive datasets, financial stakeholders can drive the transition towards green energy while simultaneously achieving financial returns and positive environmental outcomes.

What hampers research collaboration in a region?

Research collaboration is an important instrument for innovation and knowledge transfer. In this respect, barriers that prevent or impede research collaboration between research institutions and companies are of particular importance. In this paper, we elaborate on the importance of research collaboration barriers by conducting and analysing 77 expert interviews from ten German regions. We go beyond the existing literature by examining differences in the perception of different kinds of experts and by comparing different types of regions classified according to the presence of important actors, namely research institutions and large companies. Our results show that research collaboration barriers are perceived as very significant barriers to innovation across all region types. We find differences in the perception of research collaboration barriers between the experts. On the regional level, the presence of research institutions shifts the relevance from missing partners to other research collaboration barriers, while all research collaboration barriers are not perceived as significantly less important.

Are creative users more apt in reusing and adopting Open Government Data (OGD)? Gender differences

Open Government Data (OGD) has been considered as a potent instrument for value creation and innovation by a range of stakeholders. Given that individual ingenuity is a function of individual and environmental factors, it is important to understand how the OGD adoption and usage is a factor of creative performance behaviors (CPB), viz., Problem Identification (PI), Information Search (IS), Idea Generation (IG) and Idea Promotion (IP) as well as creative self-efficacy (CSE). Invoking the adapted Unified Theory of Acceptance and Use of Technology (UTAUT) constructs alongside the moderating effects of CPB and CSE constructs and also gender, the present study seeks to underline the behavioural intention towards OGD adoption and usage among 362 undergraduate and postgraduate university students in India. The guiding research question is: “Is there any difference among the males and females in terms of their OGD adoption and usage as far as their creative propensities are concerned?” Findings from the PLS-SEM (Partial Least Squares-Structural Equation Modeling) procedures show that there are gender differences across the CPB and CSE constructs. The study's contribution lies in furthering our understanding of OGD adoption and use with the additional determinants of creativity literature.

The Role of Environmental Laws in Achieving Sustainable Development Goals by 2030

As the global community confronts unprecedented environmental challenges, the imperative to achieve sustainable development has gained paramount significance. This paper explores the pivotal role of environmental laws in advancing the sustainable development goals (sdgs) by the year 2030. The interdependence between environmental preservation, socio-economic, and the well-being of future generations necessitates a comprehensive legal framework. The paper begins by examining the foundational principles of sustainable development and the evolution of international environmental law. It analyzes the interconnectedness of environmental issues and the multifaceted nature of the sdgs, emphasizing the need for a holistic legal approach to address these challenges. Drawing upon case studies and comparative analyses of environmental legal frameworks across different jurisdictions, the paper identifies key elements that contribute to the effectiveness of environmental laws in achieving sustainable development. It delves into the significance of policy coherence, stakeholder engagement, and the enforcement mechanisms that underpin successful legal frameworks. Furthermore, the paper discusses the potential hurdles and limitations in the implementation of environmental laws and explores strategies to overcome them. It scrutinizes the role of technological advancements, international cooperation, and innovative legal instruments in bolstering the efficacy of environmental regulations. In conclusion, the paper underscores the indispensable role of environmental laws as catalysts for achieving the sdgs by 2030. It advocates for a synergistic and adaptive legal framework that aligns with the evolving nature of environmental challenges. By emphasizing the need for a harmonized global effort, this paper contributes to the ongoing discourse on the crucial intersection of environmental governance and sustainable development.

Fostering a livestock production sector transformation in India: an analysis of credit empowerment and innovations in value chain dynamics"

The dairy business holds significant importance in the Indian economy. This study examines the feasibility of employing value chains to mitigate financing risks and improve the creditworthiness of small and marginal farmers (SMF), with a specific emphasis on the Indian setting. This study thoroughly examines the obstacles encountered by smallholder and medium-scale farmers (SMFs) in obtaining financing. It explores alternate strategies for enhancing financial inclusivity for small-scale dairy producers. This paper suggests adopting and utilising novel financial instruments, such as the Farmers’ Choice Card Loan, Contract as Collateral, and a platform based on Blockchain technology. The aforementioned innovative approaches offer distinct avenues for tackling the financial requirements of dairy farmers in India, making a significant contribution to the advancement of sustainable agricultural practices and the promotion of economic self-sufficiency. This paper highlights the significance of fostering collaboration among financial institutions, dairy cooperatives, government bodies, and agricultural firms to deploy these innovative financial instruments effectively. Implementing these strategies can stimulate the expansion and advancement of the dairy sector, augmenting the socioeconomic circumstances of dairy farmers in India.