Innovation in Economy & Policy Research

Prospects and Challenges of Shipbuilding Industry as a Growing Sector of Bangladesh Economy

Jannat Ara Parveen, Md Adnan Kabir — Mon, 16 Aug 2021 00:00:00 +0530

Recently, Shipbuilding Industry has been treated as a potential growth driver of Bangladesh economy as per ‘Shipbuilding Industry Development Policy-2020’. Through this policy, the country hopes to earn $4.0 billion annually from ship exports by 2025. In this context, this study is an attempt by the researchers to investigate the potentials of this industry as a growing contributory sector of the economy. This research is an explanatory type of research based on secondary information. The study results indicate that the importance and contribution of shipbuilding industry have an important impact on the economy in meeting the targets of the Government of Bangladesh by becoming middle-income and developed economy within 2031 and 2041 respectively. Findings also revealed that Bangladesh shipbuilding industry has many comparative advantages including cheap labor, presence of ship-breaking industry providing the backward linkage for shipbuilding, natural gift of abundance of rivers throughout the country etc. Besides, the study addresses some problems as well as challenges of this industry that include: lack of an effective government policy, poor funding support by the banks and financial institutions, excessive cost of ship manufacturing compared to other shipbuilding nations, inadequate law & order situation, inadequate training for developing human resources etc. At the end, some recommendations have been made in the study in line with the study problems. It is expected that the findings of this study would provide some guidelines and valuable information to the stakeholders; specially the policy makers (public and private) and investors while making future policies regarding this industry.

Assessing the Necessity for Capital Market Formation in Ethiopia: Evidence from Private Commercial Banks

Wed, 08 Dec 2021 00:00:00 +0530

The study assessed the need for stock market formation in Ethiopia. To achieve the objective of the study, data were gathered from both primary sources as well as secondary sources. The mixed research approach was employed by researcher due to qualitative and quantitative nature of data. Non probability sampling technique was employed by researcher. Structured questionnaire and telephone interview were employed as tool of primary data collection. Based on the analysis of descriptive statistics, the finding of this study implied that Ethiopia needs the establishment of stock market for boosting economic development. Also, the results of this study showed that, poverty reduction goal of the country, increasing in the size and number of share companies, the increasing in number of experts, development in banking and other financial sector in a country, current economic development and growth, increase of foreign investment in the nation, inflow of nation’s citizens who were abroad and the nation’s foreign relations and policies were prospects for establishment of capital market in Ethiopia. So the researcher suggested the government of Ethiopia has to give attention for establishment of stock market in the country.

Indian National Movement and Gandhian Phase of Gandhian Era

S. Dharshini — Fri, 24 Sep 2021 00:00:00 +0530

A retired English servant A.O. Hume founded the Indian national congress to create a forum to ventilate the grievance and feelings of the mass movement in a strong and unified code. The first session was held in Mumbai under the presidentship of W.C.Banerjee. The congress was mainly an organization of a small minority of English educated and it was a moderate body. The known leaders of that time were Dadabhai Naroji, Ferozeshah Mehta, Surendranath Banerjee, Gopala Krishna Gokhale, and Madan Mohan Malviya. The known leaders are not loyal well-wishers for the British government. The petition, Prayer, and Protest witnessed their demands of extension legislative council, separation of judiciary, freedom for the press, etc. Their demands did not get any attention from British rulers. But their work was note-worthy.The British branded Nationalists as 'Disloyal babus', 'Seditious Brahmins' and 'violent villains. Congress was remarked as a microscopic minority by Dufferin. Curzon said, "the congress is tottering to its fall, and one of my great ambitious, while in India, is to assist it to a peaceful demise". Sir Syed Ahmed Khan and Raja Shiva Prasad of Benaras were encouraged by Britishers to start anti congress movements. A section of the congress gradually lost faith in its moderate program. In the early 20th century, they moved towards militant nationalism. The leaders of this group gave up the soft approach and petitions. Gandhiji's first great experiment in Satyagraha came in 1917 at Champaran, European planters forced the peasants to grow indigo on their land and the planters will fix the price for the indigo so peasants should sell it for the same price. This was known as Tinkathia System. The Indian Independence Act 1947 said the British paramount over the Indian states was to lapse on 15th August 1947, they were allowed to join either India or Pakistan. Before that date, most of the states had signed the instrument of accession by which they agreed to access India.

Impact of Some Monetary Policy Variables on Economic Growth: Empirical Evidence from Selected West African Countries

Adamu Ahmed Wudil, Rislanudeen Muhammad — Tue, 20 Jul 2021 00:00:00 +0530

The objective of this paper is to examine the impact of some monetary policy variables on economic growth in the panel of selected West African countries namely Nigeria, Ghana, Niger and Benin over a period of 1996 to 2016. For this purpose, three different panel data methods i.e. pooled least square, fixed effects and random effects have been used to test the validity of the relationship. Hausman (1978) specification tests were adapted and the test indicates that the random effect model is considered as the best model to examine the relationship among the variables. This implies that the variables are apparently influenced by individual effects only. The random effect model shows the presence of positive and significant relationship between money supply and economic growth which signify that increase in broad money supply in the economy of these countries will improve economic growth. The empirical evidence also indicates that exchange rate, inflation rate, interest rate and trade openness influence growth negatively. This implies that, an increase in exchange rate, interest rate, inflation rate and trade openness will lead to a decrease in economic growth. In order to achieve economic growth in these countries, there is the need to increase the broad money supply and control the level of inflation, exchange rate, interest rate and trade openness.

Impact of E-Banking Reform on the Nigerian Economy

Ikeobi, Nneka Rosemary, Ayeni, Akintunde Olawande — Fri, 26 Nov 2021 00:00:00 +0530

This paper assesses the impact of e-banking reform on the Nigerian economy by examining relationships between the e-banking proxies and economic growth in Nigeria using a regression model. The study employed gross domestic product as proxy for economic growth, while value of transactions on Point of Sales (POS), value of transactions on Automated Teller Machines (ATM) and Bank Verification Number (BVN) policy were proxies for e-banking. The results revealed that there was a positive and significant impact of ATM on economic growth and a positive and significant impact of BVN on economic growth. There was, however a negative and significant impact of POS on economic growth. This indicates that e-banking made positive contributions to the economy during the period under study. The implication of these findings is that e-banking has the potential to further contribute to the Nigerian economy. The banking sector and policy makers should embark on massive and aggressive campaigns to create more awareness on the benefits of e-banking and also increase the usage of e-banking platforms by making them more available and accessible especially in the rural parts of the country. The populace should also be educated on safety measures to observe so as to get the maximum benefits of e-banking.