DIGITAL FINANCIAL INNOVATION SERVICES AND THEIR IMPACT ON THE PERFORMANCE OF COMMERCIAL BANKS IN KENYA

The study aimed at investigating the impact of digital financial services on the financial performance of Commercial Banks in Kenya using secondary dataset generated from the Central Bank of Kenya (CBK) and the Communication Authority of Kenya (CAK) for a period of five years (2015-2019). To achieve this objective, the study used a multiple regression and Pearson correlations. The study using the Pearson correlations found negative correlations between mobile money (registered mobile money accounts, active mobile money agents and mobile money deposits and withdrawals), digital payments (P2P transfers) and performance of commercial banks. However, the study found positive and significant relationship between customer deposits, Gross non-performing loans and performance of commercial banks in Kenya. The study therefore concludes that digital financial services offered by Fintech companies have a negative impact on the performance of Commercial banks in Kenya and recommends that commercial banks should continuously develop more digital financial services and collaborate more with Fintech companies to improve on their performance. The originality of this study will be of benefit to managers of Commercial banks. JEL: G21, G23, N27, O30, O31, O39 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0965/a.php" alt="Hit counter" /></p>

THE ECONOMIC IMPACT OF THE COVID-19 PANDEMIC ON ETHNIC MINORITIES – THE CASE OF LONDON, UNITED KINGDOM

This paper aims to analyse the economic impact of the Covid-19 pandemic on ethnic minorities. The focus is on ethnic minorities in London, particularly before and during the Covid-19 pandemic. We investigated the discriminatory practices towards ethnic minorities in the economic downturn caused by the Covid-19 pandemic. These are primarily related to the labour market and the sectors and occupations most affected by the pandemic. We used Government data on the UK's different ethnic groups and the London Datastore, an open data-sharing portal. We also reviewed the empirical literature in economics on discrimination in the labour market before and during the pandemic. The adverse effects of the pandemic have been much more severe in economic downturns than during more stable economic times. We found that, before and during the Covid-19 pandemic, there have been persistent differences in particular economic aspects between ethnic minorities and white men and women. Over the past decade, ethnic minorities in the UK have made progress in the median pay gap, employment gap and unemployment rates. However, ethnic minorities in London have faced more challenges than those in other parts of the UK. In addition, during the Covid-19 pandemic, unemployment rates were much higher for ethnic minorities than they were for whites. JEL: H12; H50; H83; I10 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0965/a.php" alt="Hit counter" /></p>

IMPACT OF EXTERNAL DEBT ON ECONOMIC GROWTH IN NIGERIA

Following the rising spate of the debt profile of Nigeria and the fluctuating trend in her macroeconomic indicators, this study critically examined the impact of external debt on economic growth in Nigeria in the period, 1985 to 2019 by examining the causality between external debt stock and economic growth in Nigeria and identify the impact of external debt servicing on economic growth in Nigeria. The study employed the Harrod-Domar theory of economic growth and the Two-Gap model as theoretical framework to explain the impact of external debt on economic growth in Nigeria. The study made use of secondary data sourced from World Development Indicator 2019. Ordinary least square (OLS) technique was adopted for the regression analysis. The data were analyzed with the aid of e-view software (9th edition). The result showed that external debt has negative and insignificant impact on economic growth in Nigeria. Therefore, the study recommended the use of tax revenue to finance public deficit, encouragement of foreign direct investment and domestic investment through improvement in infrastructural facilities and an enabling environment devoid of political and economic instability. JEL: E32, E41, F33, F34, F43 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0892/a.php" alt="Hit counter" /></p>

POPULATION GROWTH INDUCED AND HOUSEHOLDS FINANCIAL VULNERABILITY IN NIGERIA

Nigeria has been recording a rapid increase in its population over the years. This reality has posed a serious concern for the welfare of households especially as the increase in population growth puts households at the risk of financial vulnerability. Based on this, this study is on the move to examined the impact population growth induced has on household in Nigeria. The study made use of secondary data obtained from World Bank and the Central Bank statistical bulletine spanning from 1981 to 2020 to analyze the impact of population growth induced and its financial vulnerability on household using a structural vector autoregressive model (SVAR). After the analysis, the study found out that in the long run, an increase in financial vulnerability, due to an increase in population growth decreases household welfare in Nigeria. Hence, this study recommends that the Nigerian legislature should formulate a law against rapid population growth induced to ensure that the increase in population does not outscore the means of subsistence. JEL: H10; H31 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0789/a.php" alt="Hit counter" /></p>

DYNAMICS OF EXPORTS, INFRASTRUCTURE, AND GROWTH IN GCC: VARS AND CAUSALITY TESTING

The paper is concerned with analyzing the dynamic effects of exports and infrastructure on GCC economic growth. Panel cointegration methodology is used to test for the existence of a long relationship between the variable. Two tests, Kao (1999) and Johansen cointegration tests are applied to check for cointegration. The results of the two tests reveal that there exists a long run co-integrating relationship between export and infrastructure proxies and economic growth in GCC countries. Additionally, fully modified least square (FMOLS) and dynamic ordinary least square (DOLS) were used to test the magnitude of the long relationship among variables. The results show that export and infrastructure variables are positive and have significant impact on the long run growth of the GCC economy. Further, fixed –effects method is selected as random effect model is rejected based on Hausman test result. The results of fixed effect show that export and infrastructure variables ate positive and statistically significant. With regard to policy, variable mixed results were obtained. As a policy recommendation the study, suggest that proper absorptive capacity such as deep financial institution, good infrastructure quality and supplementing public expenditures should be met in order to maximize the benefits of exports. JEL: C33; O11; F10; O19; O47 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0875/a.php" alt="Hit counter" /></p>

CRUDE OIL PRICE, STOCK PRICE AND SOME SELECTED MACROECONOMIC INDICATORS: AN IMPLICATION ON THE GROWTH OF NIGERIAN ECONOMY

Since the first oil price oscillation in 1973s, macroeconomists have viewed sharp measures in the price of oil are generally as an important source of economic vacillations. The go-slow of economic activities has important implications for economic agents and markets. Therefore, this paper models and forecasts the crude oil price, stock price and selected macroeconomic variables in Nigeria. A model predicated on the Keynesian model using yearly data between 1986 and 2016 and analysed using VECM and GARCH approaches. The findings showed that there is long run relationship through Vector Error Correction Model which was achieved well in forecasting the selected macroeconomic variables while the volatility in crude oil price and stock price causes by external and internal forces also captured by General Autoregressive Conditional Heteroskadasticity. The long run negative effect of macroeconomic variable on economy growth can be controlled by making strong fiscal and monetary policies. The 2016 recession was reinforced by all share index and exchange rate as the path of growth declined over the forecast horizon. Further checks carried out using normality test validated the choice of this work. The paper concludes that monetary and exchange rate policy consistency are decisive for smoothening business rotation vacillations and promoting market stability. JEL: L10; E30 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0851/a.php" alt="Hit counter" /></p>

LA FINANCE ISLAMIQUE : CADRE CONCEPTUEL, PRINCIPES ET MÉTHODES / ISLAMIC FINANCE: CONCEPTUAL FRAMEWORK, PRINCIPLES AND METHODS

Le présent article vise, dans un premier temps, à exposer l’ensemble des fondements religieux et sociaux de la finance islamique et à les relier aux principes et aux méthodes des produits islamiques contemporains. Dans un deuxième temps, il présente et expose les différents produits, instruments et institutions de cette finance qui se veut porteuse de l’identité islamique. L'article peut donc servir de feuille de route (encadrement et conseils) au profit de ceux qui mènent des recherches empiriques sur la finance islamique ainsi qu'une aide pour les décideurs, les gestionnaires et les praticiens en matière d’interprétation des résultats des études sur ce sujet. This article aims, as a first step, to expose all the religious and social foundations of Islamic finance and to relate them to the principles and methods of contemporary Islamic products. Secondly, it presents and exposes the various products, instruments and institutions of this finance which aims to be the bearer of the Islamic identity. The article can therefore serve as a roadmap (guidance and advice) for the benefit of those carrying out empirical research on Islamic finance as well as an aid for decision-makers, managers and practitioners in interpreting the results of financial statements. Studies on this topic. JEL: G21; G24; G10 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0893/a.php" alt="Hit counter" /></p>

SPECIFIC OF LOCAL GOVERNMENT PROCUREMENT MANAGEMENT IN GEORGIA

Procurement at the local self-government level in Georgia is carried out in accordance with the rules established by the Law of Georgia on State Procurement. In this case, the difference between local and state procurement is not observed at the concept level, the specifics of the municipalities are not considered anywhere. The main objectives of the Law on Public Procurement are to rationalize the funds allocated for procurement, as well as to ensure a fair and non-discriminatory approach to procurement during procurement. However, violations of the principle of justice still occur at the municipal level. Due to the fact that procurement procedures take quite a long time and also, our research has revealed a number of shortcomings related to administration, hindering the effective functioning of municipalities. JEL: H11; H70 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0845/a.php" alt="Hit counter" /></p>

EFFECTS OF CONCESSIONAL DEBT ON ECONOMIC DEVELOPMENT: A MULTILATERAL AND BILATERAL PERSPECTIVE ON THE WEST AFRICAN MONETARY ZONE

Studies on the contribution of concessional debt to economic development are sketchy. The paucity of empirical studies on this subject is even more glaring in the context of the English-speaking West African countries. Bilateral and multilateral aid donors have intensified the flow of official assistance to the developing countries of the world with the aim to bridge the developmental gap between the less developed countries and the industrialized countries of the world. The question that often arises is whether such aids have yielded the desired results among the recipient countries. Against this backdrop, we examined the effect of concessional debt on the economic development in the West African Monetary Zone (WAMZ) using cross-sectional data from 1975-2014. The panel cointegration and panel unit root tests were employed to test for long-run relationship and stationarity of the series respectively. Our model was analysed with both fixed and random effect panel regression while the Hausman test be used to determine the best and appropriate choice between the two. Our findings reveal that multilateral and bilateral concessional debts have significant positive effect on standard of living in the West African Monetary Zone. The panel cointegration test also indicates that there is no long-run relationship between concessional debt and per capita income. We conclude that inflow of concessional aid from multilateral and bilateral donors has had remarkable influence on the standard of living in the region. We recommend that concessional aid to the less developed countries be intensified. However, recipient countries should have a credible external borrowing guideline scribed in their legislation to check against excessive borrowing and also ensure that aid received is used for the intended (developmental) purposes. External institutions and aid agencies should also be involved in the entire aid administration with aim of ensuring that aid is extended based on need, not political ties. JEL: A10; B20; C01 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0781/a.php" alt="Hit counter" /></p>

RELATIONS ET CONDITIONS DE TRAVAIL ET ENGAGEMENT ORGANISATIONNEL DANS LES ENTREPRISES INDUSTRIELLES DU TOGO / LABOR RELATIONS AND WORKING CONDITIONS AND ORGANIZATIONAL COMMITMENT IN TOGO'S INDUSTRIAL COMPANIES

Les ressources humaines constituent une richesse indéniable pour toute entreprise. Aussi, le capital humain se trouve t-il au cœur de toute organisation. L’objectif de l’étude est de vérifier l’existence d’un lien entre les relations et conditions de travail et l’engagement organisationnel du personnel des entreprises industrielles du Togo. Les données ont été collectées auprès de 261 participants issus de 16 entreprises industrielles de la place. Elles ont été traitées avec le logiciel SPSS 21. Les résultats obtenus montrent l’existence d’un lien positif entre les composantes du pilier des relations et conditions de travail et les sous-dimensions de l’engagement organisationnel. Il ressort donc que l’amélioration des relations et conditions de travail est indispensable pour un bon engagement du personnel. Human resources are an undeniable asset for any company. Also, human capital is at the heart of any organization. The objective of the study is to verify the existence of a link between the relations and working conditions and the organizational commitment of the personnel of industrial companies in Togo. The data were collected from 261 participants from 16 industrial companies in Togo. They were processed with SPSS 21 software. The results obtained show the existence of a positive link between the components of the pillar of work relations and conditions and the sub-dimensions of organizational commitment. It thus emerges that the improvement of the relations and working conditions is essential for a good commitment of the personnel. <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0781/a.php" alt="Hit counter" /></p>