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Rising Debt Burden and Its Impact on the Implementation of Three (3) Sustainable Development Goals in the Commonwealth African Member Countries (2016-2022)
Issue:
Volume 12, Issue 1, June 2023
Pages:
1-18
Received:
3 January 2023
Accepted:
21 February 2023
Published:
4 March 2023
Abstract: This paper examined rising debt burden and its implication for implementing three (3) selected Sustainable Development Goals (SDGs) in the Commonwealth African member states. The methodology was mainly “Desk Research’’ with data collected from the World Bank Data Online Portal, covering the period 2016-2020. The approach analysis was to compare the estimated debt servicing obligations against estimated costs on investments on the selected SDGs and discuss its implications for successfully meeting these goals by 2030, under the assumption of rising public debt burden and low growth. The findings were as follows: - (i). Public debt stocks in all of these Commonwealth African states were already high, even, before COVID-19 which struck late in 2019, experiencing a very high-debt-to GDP ratios; that was far above 50 percent- Mozambique (116 %), Mauritius (105%), Zambia (85%) and Zimbabwe (61%) were spotted to have very high debt- to-GDP ratio amongst these member states. (ii). economic growth and domestic revenue collection in all of these Commonwealth African member states deteriorated in the year following the outbreak of the COVID-19. This widened the deficit and hence, the cycle of increased borrowing and rising debt burden continued unabated in these member states. (iii). none of these (20) Commonwealth African member states had invested enough in the SDGs to have come closer to meeting the internationally acceptable minimum annual expenditure threshold of 15-20% of GDP needed to achieve any of these three (3) selected SDGs. Governments therefore are encouraged to improve key aspects of macroeconomic fundamentals in order to improve domestic productivity, innovations in private sector involvement and stimulate overall confidence in the domestic economy in order to achieve the SDG agenda 2030.
Abstract: This paper examined rising debt burden and its implication for implementing three (3) selected Sustainable Development Goals (SDGs) in the Commonwealth African member states. The methodology was mainly “Desk Research’’ with data collected from the World Bank Data Online Portal, covering the period 2016-2020. The approach analysis was to compare the...
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Inclusive Financing in Developing Countries: A Systematic Review
Issue:
Volume 12, Issue 1, June 2023
Pages:
19-24
Received:
13 December 2022
Accepted:
28 January 2023
Published:
21 March 2023
Abstract: This review considers the landscape of inclusive financing in developing countries. It is found that financial inclusion is important for economic growth of a country. Rural populations are excluded from financial services and instead engaged in informal financial institutions for various reasons. Women remain unserved compared to male counterparts due to low bargaining power. According to a study conducted in developing countries, financial inclusion is still in its infancy. In comparison to global achievement, Africa, for example, has a relatively low number of official account holders. Because we live in the digital age, digital financing is critical to increasing inclusiveness. With this type of financial inclusion, people can make quick financial decisions. It is primarily used by literate individuals and relies on mobile phones and other digital devices to provide services. Adoption and use of mobile money has aided in increasing financial inclusion. Myriad user-related issues help to broaden and deepen financial inclusion coverage. A lack of financial literacy is one of the most significant barriers to inclusion. Furthermore, financial inclusion is hampered in poor countries by a lack of a comprehensive financial inclusion policy and government impetus. In order to achieve financial inclusion, the government and other stakeholders must work together. Because financial institutions are concentrated in cities, government involvement is required to provide services to the rural and underserved. This is true in the vast majority of developing countries. This necessitates the development of a policy framework that allows institutions to operate in inaccessible locations.
Abstract: This review considers the landscape of inclusive financing in developing countries. It is found that financial inclusion is important for economic growth of a country. Rural populations are excluded from financial services and instead engaged in informal financial institutions for various reasons. Women remain unserved compared to male counterparts...
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The Importance of Institutional Support for Innovative Activities in the Digital Economy
Issue:
Volume 12, Issue 1, June 2023
Pages:
25-33
Received:
13 March 2023
Accepted:
6 April 2023
Published:
18 April 2023
Abstract: The article is devoted to the institutional support of innovative activity in the digital age and the peculiarities of development regulation. It has been proven that the rapid development of technology and big data requires innovative policies, flexible governance and institutional changes. It was determined that the features of modern development require qualitatively new institutions to reduce the risks caused by digitalization, eliminate inequality, and strengthen control and accountability. Institutes must create the necessary conditions for monitoring and developing digitalization and supporting innovation. A qualitatively formed institutional environment will help to realize the advantages of the digital economy as efficiently as possible and make the EU an innovative leader in the world. The main areas in which institutional changes are primarily needed are considered: the labor market; education; enterprise management; investment activity. The symbiosis of the digital and green economy requires the formation of new markets and products, as well as business models at the enterprise level and the corresponding institutional environment. State institutions should not only promote the development of the knowledge economy and digitization, but also actively stimulate investment activity in new technologies and innovations. The main areas of investment stimulation are defined. The main changes in various sectors of the economy are outlined, which must be taken into account when building institutional support for innovative activities in the digital economy. The EU policy in the development of the digital economy and the achievement of sustainability has been thoroughly accelerated. The main directions of the development of innovative activities in the digital economy are determined.
Abstract: The article is devoted to the institutional support of innovative activity in the digital age and the peculiarities of development regulation. It has been proven that the rapid development of technology and big data requires innovative policies, flexible governance and institutional changes. It was determined that the features of modern development...
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Honey Marketing Practices and Its Drawback in Central Ethiopia
Issue:
Volume 12, Issue 1, June 2023
Pages:
34-37
Received:
18 April 2023
Accepted:
19 May 2023
Published:
5 June 2023
Abstract: Ethiopia leads Africa in honey production although the traditional production system predominates in the industry. Within this production system, marketing system is supply driven in which understanding the marketing system and its limitations was therefore the main goal of this essay. Using simple random sampling, the study obtained information from eight processors, eleven merchants, and 68 beekeepers chosen randomly. The study found that 91% of the honey production is conducted by traditional technologies which is characterized by lower productivity at small scale level. As a result, the producers are selling to anybody in the market at the existing market price in which only 64% of the respondents were strained honey in which 41% of respondents were sold crude in its raw state. Sales of pure honey and beeswax account for 35% of net profit, but beekeepers are losing this money due to lack of straining. Traditional beehives yield 0.15–15 kg per hive per year, in contrast to the national average of 9 kg per hive per year. Moreover, price decisions are not based on trustworthiness, and there is no regulatory framework in place to direct how buyers and sellers decide to proceed. Local knowledge is the only basis for honey quality testing. As a result, several actors are involved in the market which create ill competition among buyers. Hence, this study recommends organization of beekeepers to boot honey supply and create accountability in honey quality failure.
Abstract: Ethiopia leads Africa in honey production although the traditional production system predominates in the industry. Within this production system, marketing system is supply driven in which understanding the marketing system and its limitations was therefore the main goal of this essay. Using simple random sampling, the study obtained information fr...
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Causes and Consequences of the Silicon Valley Bank Collapse: Examining the Interplay Between Management Missteps and the Federal Reserve's Floundering Decisions
Abdullah Saif. S. S. Al-Sowaidi,
Ahmad M. W. Faour
Issue:
Volume 12, Issue 1, June 2023
Pages:
38-46
Received:
17 May 2023
Accepted:
12 June 2023
Published:
27 June 2023
Abstract: The recent failure of Silicon Valley Bank, one of the largest banks in the world's technology capital, has sent shockwaves throughout the financial sector. It is essential to have a solid understanding of the various causes that led to the bank's failure. The current study sheds light on the subject by analyzing the data and looking at the relevant information. The present study investigates the particular roles that a variety of contributing elements played in the failure of the bank by using the evidence that is already accessible. This evidence includes data that has been published and reports that have been written on the topic. The bank's demise can be ascribed to a combination of management errors, regulatory oversight failings, and government involvement, according to the findings of an in-depth investigation of the causes that contributed to the bank's downfall. The research emphasizes the significance of effective risk management and diversity in investing strategies while simultaneously sounding a warning about the possible dangers of loosening up on regulatory requirements. In conclusion, the research highlights the significant part that effective management plays in the banking industry and issues a call for banks and policymakers to successfully traverse an uncertain and challenging landscape in order to mold the future of the financial system. The study provides implications for both practitioners and academics.
Abstract: The recent failure of Silicon Valley Bank, one of the largest banks in the world's technology capital, has sent shockwaves throughout the financial sector. It is essential to have a solid understanding of the various causes that led to the bank's failure. The current study sheds light on the subject by analyzing the data and looking at the relevant...
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