Journal of Economic Studies and Financial Research

Effect of Cyber Security Factors on Mobile Money Service: A Case of Mobile Money Operators in Nyamagana District, Tanzania

Joseph Msereti — 2023-11-24

Advancement in technical know-how specifically to digital and Android devices like smartphones has spread widely the adoption of mobile money but increased the vulnerability to cybercrime attacks in cyberspace since attackers find new ways to hack accounts and personal identity. With Mkolani ward in Nyamagana district as a case study, the study examined the impact of cyber security factors on mobile money services in Mwanza in light of the concerning state of cyber security. The effects of cybercrime threat negation, investments in cybercrime prevention measures, and customer trust in mobile money services were especially evaluated in this study. In addition, a questionnaire was utilized to collect data as part of the study's quantitative research methodology. A sample size of 105 responders provided the data that was gathered. To substantiate the elements influencing mobile money services, regression analysis techniques and probability sample techniques were applied through random sampling.

The findings demonstrate that customer trust, investments in cybercrime protection strategies, and the denial of cybercrime threats all had a major impact on the adoption of mobile money services. The study's conclusions condemned the fact that mobile money services are open to hazards (threats), particularly identity theft and trust incidents, which cause financial loss and harm to the reputations of mobile money providers (Mpesa, Tigo Pesa, Airtel Money, and Halopesa). The use of biometric fingerprints, an electronic client verification system, per-day transaction restriction, and a robust and efficient government policy on cybercrime assaults can all help to prevent and lessen the potential of attacks on mobile money. Finally, mobile money operators should do everything in their power to offer honest, high-quality customer service. The telecom industry should also work to increase the reliability and consistency of its network coverage and use Short Message Service (SMS) to educate users about security risks and how to protect their mobile devices, among other things, by running virus scans.

Dynamics of FDI Inflow on Indian Economy- A Brief Overview

Asgar Ali — 2023-10-30

In this article, the focus is on investigating the influence of foreign direct investment (FDI) on the economic growth of India following the economic reforms of 1991. Additionally, the challenges that India has encountered in positioning itself as an attractive destination for FDI in the global market are also analyzed. The study also investigates the year-wise and sector-wise flow of FDI between 2001 and 2021 to observe the dynamic patterns of FDI inflow in the country. Furthermore, the paper provides key policy implications and highlights the complexities surrounding FDI in India

India has become a popular destination for foreign investors due to its market potential and liberalized policy regime, despite being a latecomer in the FDI scene compared to other East Asian countries. Since the economic reform of 1991, FDI in India has experienced a positive growth rate, with the government continuously focusing on liberalizing policies towards FDI. FDI has been a significant driver for India's economic growth, enabling the country to achieve financial strength, stability, growth and development to sustain and compete in the global economy. The study indicates that FDI growth effects vary across sectors, with the services sector promoting growth in the manufacturing sector through cross-sector spillovers. FDI is indeed indispensable considered for India's economic growth and a positive association exists between FDI and GDP.

Trends and Challenges of Formal Agricultural Credit in Bangladesh: Enhancing Productivity and Promoting Inclusive Growth

Nurun Nahar Sultana — 2023-08-14

Empirical studies provide evidence that agricultural finance is crucial for agriculture structural development of an economy. Ensuring the productivity of the agricultural sector is crucially important for the timely availability of agricultural credit. The purpose of this study is to look at what is going on with agricultural credit, especially in the formal sector of banking. Throughout the years, there has been a significant increase in credit disbursed through the official sector, which includes commercial banks and other financial institutions. This is a significant development, as in the past the informal sector was dominant. Non-Governmental Organizations (NGOs), private commercial banks in the area, and foreign banks have all played a role in the provision of agricultural credit to farmers throughout the country. However, despite the increasing flow of credit from formal sector institutions, some challenges need to be addressed. Accessibility remains a concern, particularly for small and marginalized farmers who struggle to access formal credit channels. For formal agricultural credit to have a positive impact, it is necessary to ensure its widespread availability, to provide financial products that are tailored to the needs of farmers, and to implement policies that reduce inefficiency and leakages in the distribution of credit. By addressing these challenges, formal agricultural credit can play a pivotal role in enhancing agricultural productivity, empowering farmers, and driving sustainable economic growth in Bangladesh.

Absolute and Comparative Competitiveness of Farming Structures in Bulgaria

Hrabrin Bachev — 2023-10-30

Agricultural farm (firm) is an abstract category in the Economics theory for describing the agents managing farming activity, while the real governing structures are the farms of different juridical types - one person, family, cooperative, corporative, etc. The competitiveness of farming enterprises is predominately assessed through traditional indicators of technical and accountancy efficiency, factors of productivity, profitability of activity, market shares, etc. while the critical governance aspects are largely ignored. This paper incorporates the interdisciplinary New Institutional Economics, suggests a holistic multipillars framework for the assessment of the competitiveness of governing structures of farming activity, and assesses absolute and comparative competitiveness of Bulgarian farming enterprises. The main “pillars" of farm competitiveness are Economic efficiency, financial endowment, Adaptability and Sustainability. For assessing the level of competitiveness of Bulgarian farms, a holistic system of 4 criteria for each Pillar and 17 particular and 5 integral indicators are used.

The study has found that the level of competitiveness of agricultural holdings in the country is at a good level, but there is significant differentiation in the level and factors of competitiveness of holdings with different juridical types, sizes, product specialization, ecological and geographical location. The low adaptive potential and economic efficiency to the greatest extent contribute to lowering the competitiveness of Bulgarian agricultural producers. A large share of farms of different types has a low level of competitiveness, and if measures are not taken in due time to increase competitiveness by improving the management and restructuring of farms, adequate state support, etc., a large part of Bulgarian farms will cease to exist shortly. This study found that besides the juridical type, other dimensions of governance structures like economic size, product specialization, location, and market of self-sufficiency orientation, are critical for determining their absolute and comparative competitiveness.

Developing and Evaluating Sector Rotation Strategy for Indian Equity Markets

Nikhil Patel — 2023-07-31

This study examines the effectiveness of rotating in and out of a sector based on the stage of a business cycle. Here, we assume that business cycles exist, are part of nature, and neither repeat at a regular intervals nor their intensity or duration are constant. However, we assume that with a perfect set of high-frequency indicators, an investor can perfectly time the business cycle phases.

This study divides India's real GDP growth into High, Moderate, Low, and Minuscule growth. GDP Growth is used as an indication of a start/end of a business cycle. In an investor were to create four different portfolios, optimized for each of the business cycle phases, will he/she be able to outperform the SENSEX returns of the buy-and-hold strategy?

Here, an attempt to create such four models has been done using Python based on Markowitz Efficient Frontier and Modern Portfolio Theory. Once developed using historical data from September 2005 to March 2020, the study tries to estimate its performance in out-of-sample data, i.e., June 2021-April 2023.

Can an investor make higher absolute (not alpha) returns with perfect foresight? We try to evaluate such in this study. Some obvious drawbacks of this model are inapplicability for large investors, mutual funds, etc. However, an investor with small capital and access to data can have an accurate foresight, thus, applying the model in practice can earn higher absolute returns. Even with a tax consideration of moving in and out of sectors, an investor can make a higher absolute return compared to a buy-and-hold strategy.