scholarly journals The Impact of the Ongoing Pandemic on Digital Finance Transactions: An Empirical Analysis

2021 ◽  
Vol 13 (3(I)) ◽  
pp. 41-46
Author(s):  
Khushbu Agarwal ◽  
Nidhi Nalwaya
Keyword(s):  
Empirical Analysis ◽  
Economic Activity ◽  
Private Consumption ◽  
Credit Cards ◽  
Retail Stores ◽  
External Trade ◽  
Online Transactions ◽  
The Government ◽  
The Impact ◽  
Payment Mechanisms

The ongoing pandemic has resulted in a disruption of the life of all citizens and impacted all the spheres, more so the financial system because the Pandemic and its aftermath has shut all economic activity except those which as per the government directives are considered the most essential. This has deeply impacted private consumption, external trade as well as investment in the economy. Accordingly, both in retail stores and e-commerce orders, a common strand is that many of the consumers are now paying bills via digital payment mechanisms and taking contactless delivery of goods wherever possible. “Digital financial transaction systems, e-wallets and apps, online transactions using e-banking, usage of Plastic money (Debit and Credit Cards), etc. have recorded a substantial increase in demand during the crisis”. The objective of the present paper is to examine and analyze the digital finance transactions in selected cities during the ongoing pandemic

scholarly journals Cash Management: A Shift in Payment Pattern of Indian Buyers during Covid 19

2020 ◽  
Vol 11 (2) ◽  
Author(s):  
Vandana Dhingra
Keyword(s):  
Statistical Tests ◽  
Credit Cards ◽  
Cash Management ◽  
Face To Face ◽  
Online Transactions ◽  
Payment Methods ◽  
Online Payment ◽  
Cash Payment ◽  
Spss Software ◽  
The Impact

Cash Management is always one of the cherished objectives of Planners & Policymakers not only in India but all over the world. The current Covid 19 crisis is the root for a shift in the Alternative payment methods. The usage of non-cash payment methods, such as e-wallets, online transactions using e-banking, debit and credit cards will increase extensively due to the impossibility of doing face to face transactions. People are forced to find alternative ways of shopping in the wake of Coronavirus crisis, and hence there will be a shift in the pattern of purchase (from real shopping to virtual/online shopping) and online payment methods. Not only this, certain payments like mobile recharge, electricity and water bills, municipal taxes, etc. are to be made online. People who were reluctant or slow in adapting to online payment methods have no choice but to adopt the non-traditional payment alternatives (m-wallets, Paytm, NEFT, RTGS, IMPS, etc). The Indian Income Tax act also encourages noncash payments by the customers through Section 44AD, Section 40A(3), to name a few. The paper examines the impact of Covid 19 on the payment pattern of Indian buyers by comparing the two scenarios 1. Before Covid 19, and 2. During Covid 19. The RBI statistic of payment methods from November 2019 to May 2019. To extrac the results, statistical tests like Paired t-test have been used with the help of SPSS software. The results indicate that covid 19 has a vital impact on non-cash payment methods.

The assessment of budget expenditures impact on economic activity

2018 ◽  
pp. 28-45
Author(s):  
I. V. Belyakov
Keyword(s):  
Government Spending ◽  
Economic Activity ◽  
Private Consumption ◽  
Negative Impact ◽  
Positive Impact ◽  
Private Investment ◽  
Short Term ◽  
Government Investment ◽  
Macroeconomic Conditions ◽  
The Impact

The article explores the impact of government spending on the key components of economic activity in Russia, such as private consumption and investment. The author pays serious attention to the theoretical justifications of the possible impact of fiscal policy on economic growth and its components, as well as reviews the empirical results obtained in this area. In the empirical part of the article, government expenditures are represented by the “GDP by expenditure” items — government consumption and government investment. The results, for Russian data covering the period of 1995—2017, indicate a short-term positive impact of government spending on private consumption and a negative impact on private investment. It also proves important to take into consideration the changes in macroeconomic conditions that occurred approximately in the middle of the observed period.

scholarly journals Ṣukūk: A Sharīʿah Compliant Tool for Financing Budget Deficits

2019 ◽  
Vol 32 (1) ◽  
pp. 119-124
Author(s):  
Omar Zuhair Hafiz Omar Zuhair Hafiz
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Budget Deficit ◽  
Negative Relationship ◽  
Budget Deficits ◽  
International Debt ◽  
Key Variables ◽  
The Government ◽  
The Impact ◽  
The Relationship

The lead paper (Pettifor, 2019) discusses an important issue at the macroeconomic level, especially the impact of financing government’s expansionary budget deficit through borrowing. The paper reiterates that claiming that the use of loans to finance the deficit will lead to a decline in the economic activity and will in turn increase the deficit, is a common misconception. In fact, the data on the British economy over a period of a hundred years, as shown in the lead paper, proves that there is a positive relationship between the volume of the budget deficit (and public debt) and economic activity. This, in turn, lead to a decrease in unemployment and thus, eventually contributed to a reduction in the budget deficit. These results have been proven by other researches as well as I have mentioned in this paper. I have also pointed to other researches which indicate that there is a negative relationship between the size of the debt (or the budget deficit), and economic activity, which contradicts the hypothesis of the lead paper. In this brief comment on the lead paper, I also discuss the fact that the global debt phenomenon has become a burning issue. I present a summary of the state of international debt around the world and discuss its impact on the economies of many countries that repay their debts in hard currencies. I argue that this situation must be taken into consideration when discussing the impact of borrowing to finance the government budget deficit to stimulate economic growth. I also propose that these effects on the borrowing economies should also be analyzed in the event that these international loans are in the form of Islamic instruments (ṣukūk) which are increasingly being used by some governments as a tool to finance their budget deficits, especially among the OIC countries. However, because it is a modern financing tool, several years need to pass before we can viably test the relationship between them and economic growth and the extent of their impact on key variables at the macro level of the economy.

scholarly journals PENINGKATAN VOLUME USAHA ANGGOTA MELALUI OPTIMALISASI PENGGUNAAN PLATFORM DIGITAL PADA KOPERASI DISABILITAS INDONESIA

2021 ◽  
Vol 5 (2) ◽  
pp. 372
Author(s):  
Tri Haryanto ◽  
Angga Erlando ◽  
M Khoerul Mubin ◽  
Zidna Fitriyana ◽  
Wahyu Setyorini ◽  
...  
Keyword(s):  
Community Service ◽  
Economic Activity ◽  
Economic Condition ◽  
People With Disabilities ◽  
Poor People ◽  
Persons With Disabilities ◽  
Digital Platforms ◽  
Declining Demand ◽  
The Government ◽  
The Impact

AbstractIndonesia is one of the countries affected by the Covid-19 pandemic, so many victims died. Seeing an increase in Covid-19 cases, the government made a physical distancing policy to reduce the spread of Covid-19. However, this policy has an impact on hampered economic activity. Badan Pusat Statistik (BPS) in 2020, the number of poor people in March 2020 was 26.42 million people, an increase of 1.63 million people compared to September 2019. In addition, the Indonesian economy in the second quarter of 2020 compared to the second quarter of 2019 experienced a growth contraction of 5.32 percent (y-on-y). One of the groups of people who feel the impact of the Covid-19 on the family's economic condition is a group of people with disabilities. Since the Covid-19 pandemic, many people with disabilities have lost their jobs. In addition, some of them have succeeded in developing cooperatives. Currently, there are many Cooperatives for Persons with Disabilities. However, their work is lacking in demand due to declining demand in the market. Therefore, this is the background for community service activities to increase business volume through optimizing the use of digital platforms at the Indonesian Disability Cooperative. With business assistance for people with disabilities, it can help improve the skills of people with disabilities and help promote their products so that they can expand the marketing reach of products for people with disabilities. Thus, the income of persons with disabilities will increase.Keywords: Cooperatives, Disability, Digital Platform, Covid-19AbstrakIndonesia merupakan salah satu negara yang terdampak pandemi Covid-19, sehingga banyak korban meninggal. Melihat adanya peningkatan kasus Covid-19, pemerintah membuat kebijakan pysical distancing untuk mengurangi penyebaran Covid-19. Namun, kebijakan tersebut berdampak pada aktivitas perekonomian yang terhambat. Badan Pusat Statistik (BPS) pada tahun 2020, jumlah penduduk miskin pada Maret 2020 sebesar 26,42 juta orang, meningkat 1,63 juta orang terhadap September 2019. Selain itu, ekonomi Indonesia triwulan II-2020 terhadap triwulan II-2019 mengalami kontraksi pertumbuhan sebesar 5,32 persen (y-on-y). Salah satu kelompok masyarakat yang merasakan dampak adanya Covid-19 terhadap kondisi perekonomian keluarga yaitu kelompok masyarakat penyandang disabilitas. Sejak adanya pandemi Covid-19, banyak dari para penyandang disabilitas yang kehilangan pekerjaannya. Disamping itu, sebagian dari mereka telah berhasil mengembangkan koperasi. Saat ini telah banyak Koperasi Penyandang Disabilitas. Namun demikian, hasil karya mereka sepi peminat karena permintaannya yang menurun di pasar. Oleh karena itu, hal tersebut menjadi latar belakang kegiatan pengabdian masyarakat dalam rangka peningkatan volume usaha melalui optimalisasi penggunaan plaftom digital pada Koperasi Disabilitas Indonesia. Dengan adanya pendampingan usaha untuk penyandang disabilitas, maka dapat membantu meningkatkan keterampilan para penyandang disabilitas serta membantu memasarkan produknya sehingga dapat memperluas jangkauan pemasaran produk para penyandang disabilitas. Dengan demikian, maka pendapatan para penyandang disabilitas akan meningkat.Kata Kunci: Koperasi, Disabilitas, Platform Digital, Covid-19

scholarly journals India’s Economy under Pressure from COVID-19

2020 ◽  
Vol 13 (5) ◽  
pp. 128-144
Author(s):  
E. A. Bragina
Keyword(s):  
Economic Activity ◽  
Prime Minister ◽  
Rapid Reduction ◽  
Main Method ◽  
The Third ◽  
The Poor ◽  
The World ◽  
The Government ◽  
The Impact ◽  
Direct Distribution

The article examines the negative changes in the Indian economy since the beginning of 2020 under the pressure of the COVID-19 pandemic and measures to overcome them. The increase in the number of cases, the introduction of quarantine led to a rapid reduction in production, mass unemployment, and a decrease in the country’s GDP. In the current emergency conditions, it became an objective necessity to increase the impact on the situation of the nation state in various forms. It took dramatic changes in the economic policy of India of the previous period, when the position of private entrepreneurship was significantly strengthened, especially in industry and services. The COVID-19 pandemic forced the government of the country, led by Prime Minister Narendra Modi, to tackle the primary challenge - to keep the country from sliding into total prolonged stagnation and at the same time to support a multimillion poverty-stricken population. The main method of the government was the policy of financial saturation of the economy through direct financial injections, as well as the direct distribution of money and food in kind among the poor. The collapse of economic activity in India in the first half of 2020 was replaced in the third quarter of this year by signs of some economic recovery. For India, according to UNCTAD, in 2021, the opportunity to attract significant foreign investment from the leading countries of the world, interested in expanding their positions in its huge domestic market, is increasing. In the context of the pandemic, India’s role in revitalizing, at the initiative of N. Modi, political and economic contacts in South Asia between SAARC members became especially significant.

scholarly journals Reflection of globalization and integration processes

2008 ◽  
Vol 53 (No. 2) ◽  
pp. 69-73
Author(s):  
J. Tvrdoň
Keyword(s):  
Economic Activity ◽  
International Communication ◽  
External Trade ◽  
Intermediate Products ◽  
Final Output ◽  
Modelling Techniques ◽  
Economic Reality ◽  
The Impact ◽  
Made In ◽  
National Borders

The paper deals with the modelling of globalization and integration processes which fundamentally influence enterprise functioning, subject and business forms in both the internal and external trade. Final output is the result of internationally coordinated production in many sectors. The impact of this process is that costs of inputs are minimized and intermediate products are made in different countries. As capital becomes more mobile and technology facilitates international communication, national borders become more permeable to economic activity. Economic reality that is the aim of this modelling is changing and due to this it is necessary to adjust modelling techniques analysed in this paper.

scholarly journals Reforming Spending Policy and Its Impact on Indonesia’s Economy: The Case of Fuel Subsidy and Infrastructure

2019 ◽  
Vol 20 (1) ◽  
pp. 12-27
Author(s):  
Muhammad Anas
Keyword(s):  
Economic Activity ◽  
Model Simulation ◽  
Social Accounting Matrix ◽  
Sectoral Output ◽  
Long Run ◽  
Simulation Results ◽  
Economic Infrastructure ◽  
The Government ◽  
The Impact

The quality of Indonesia’s infrastructure up until 2014 was considered uncompetitive, and one of the reasons was that there was not enough money spent on infrastructure, and too much on fuel subsidy. In November 2014, the government of Indonesia decided to cut the expenditure for fuel subsidy and reallocate the money to invest on public services. This study was conducted with the intention to quantify the impact of the program on economic growth and income distribution in Indonesia using Social Accounting Matrix (SAM) model. Simulation results indicated that the impact from social and human capital infrastructure was bigger than that of economic infrastructure, although the simulation for both categories resulted in an increase of sectoral output and domestic income. Therefore, improving infrastructure, especially social, is vital to stimulate economic activity in the long run.

scholarly journals STRUCTURAL AND LEGAL ANALYSIS OF BANKING SAFETY IN UKRAINE

2019 ◽  
Vol 4 (5) ◽  
pp. 67
Author(s):  
Olena Dzhafarova ◽  
Olena Riabchenko ◽  
Igor Artemenko
Keyword(s):  
Open Economy ◽  
Economic Activity ◽  
Legal Analysis ◽  
Decent Life ◽  
Report Data ◽  
The Creation ◽  
The Government ◽  
Main Components ◽  
Market Relations ◽  
The Impact

The article is devoted to the scientific analysis of Ukraine’s economic activity under the conditions of European integration processes. It is stressed that the value of the current economic activity is primarily determined by the processes of globalization, the formation of market relations, need for creation of guarantees in these conditions that will ensure a decent life for all members of society because of the need for ensuring the economic and overall national security of Ukraine. However, it is necessary to consider that the access to world markets and formation of an open economy also mean an internal stability of the economy and financial system of the state. The purpose of the article is to clarify the concept of banking security, its main components and levels of development. The report data of the Deposit Guarantee Fund (DGF) and the Prosecutor General’s Office of Ukraine for the last years have been analysed. It also testifies about the lack of control and superficial attitude of the controlling bodies towards the processes of the banking sphere criminalization. It is determined that the DGF indicators do not correspond to those of the Prosecutor General’s Office of Ukraine reports regarding the crimes committed in the sphere of banking. The government of Ukraine should focus on domestic reforms, the creation of living standards, economics and politics in Ukraine, which are as close as possible to European. Only then it is possible to implement effective mechanisms aimed at neutralizing, minimizing the impact and eliminating the phenomena and factors leading to the creation of external and internal threats to the state’s financial security.

Estimating the Impact of Welfare Programs on Agricultural Output: Evidence from India

2019 ◽  
Author(s):  
Girish Bahal
Keyword(s):  
Economic Activity ◽  
Developing Economies ◽  
National Level ◽  
State Level ◽  
Welfare Programs ◽  
Data Set ◽  
Agricultural Output ◽  
Rural Welfare ◽  
The Government ◽  
The Impact

Abstract Rural welfare programs are implemented for a variety of reasons. However, of key importance is to understand how government spending under such programs affects local agricultural output which is a key measure of economic activity in developing economies. This article estimates the local multiplicative effects of transfer spending by the government using a novel data-set of state-level expenditure under rural welfare programs in India. Using government records as narrative evidence, I use the motivation to implement new programs at the national level to construct changes in transfer spending that are largely exogenous to fluctuations in agricultural output at the state level. I estimate local multipliers using this “narrative shock series” and find government transfers to be quite consequential for local economic activity.

The informal economy and its relationship with the state

2020 ◽  
pp. 530-544
Author(s):  
Jane N. O. Khayesi
Keyword(s):  
Informal Sector ◽  
Informal Economy ◽  
Economic Activity ◽  
The State ◽  
Institutional Framework ◽  
Informal Workers ◽  
Full Implementation ◽  
The Government ◽  
The Impact ◽  
New Jobs

This chapter examines the function of the informal economy in Kenya and the shifting government responses to it through a review of key policies and documents from 1971 to 2017. As in many African states, the Kenyan informal economy is a critical source of employment and economic activity, providing 80 percent of new jobs in an average year. The key finding of this chapter is that the Kenyan government has undertaken a number of initiatives to support the informal sector but the impact of these initiatives remains controversial; some have been actively resisted by informal workers and businesses that believe their impact would be damaging. Thus, although a policy and institutional framework has been put in place with the official aim of encouraging the growth of the informal economy, tensions with the government remain, and there is a pressing need for the full implementation of a number of measures, most notably licensing.

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