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IJFEIndian Journal of Finance and Economics

Latest Articles :- Vol: (5) (2) (Year:2024)

ECONOMIC VALUATION OF ECO-TOURISM IN VAN VIHAR NATIONAL PARK

BY:   Samarth Jaiswal and S. P. Singh
Indian Journal of Finance and Economics, Year:2024, Vol.5 (2), PP.89-107
Received: 04 July 2024   |   Revised: 10 August 2024   |   Accepted: 24 August 2024   |   Publication: 30 December 2024
DOI : https://DOI:10.47509/IJFE.2024.v05i02.01

Ecotourism focuses on preserving natural environment and wildlife, providing educational and recreational opportunities for visitors. The different types of tourism, is focused on responsible travel to natural areas. Eco- ourism plays an important role as revenue generation for the local authority & to state/ central government.

Van Vihar National Park is located in Bhopal, Madhya Pradesh, India. It is one of the most popular ecotourism destinations in the country, attracting over 1 million visitors annually. The park is home to a diverse range of wildlife, including tigers, leopards, sloth bears, spotted deer, and over 200 species of birds. Ecotourism activities at Van Vihar National Park include jeep safaris, nature walks, and boat rides. Visitors can also learn about the park’s wildlife and conservation efforts at the interpretation centre.

Van Vihar in 1983, notified as “National Park” & governed under the Wildlife Protection Act, 1972. Van Vihar, is the only place in Central India, ‘rescue Centre harbours’ number of lions from the circuses, sloth beers & other abandoned / distressed animals like tigers, panthers, beers are rescued from the wild. Van Vihar Park consists of many rare & endangered species & others varieties of animals e.g. Tiger, Snakes Asiatic Lion, Narasingha, Jackals, wild boars, black bucks, kingfisher, painted stocks.

The objective of this paper is to assess benefits of ecotourism for national parks and local communities. Secondly, to find out how the ecotourism revenue can create a stable source of income for park. Lastly to study the economic benefits of ecotourism, including spending on lodging, food, and transportation.

In this study two method of economic valuation have been used a) Travel cost method and b) Tourism Expenditure Method. Travel Cost Method is based on the Assumption of the value of a recreational site is reflected in the amount of money that people are willing to spend to travel to and visit the site. e.g. cost of transportation, lodging, food, and other expenses.

Both primary and secondary data was collected through structured questionnaire and interviewed 25 respondents after pretesting of questionnaire. The key informants were the tourists, entering in the national park. After data collection, data compilation and tabulation work were done on computer. Simple statistical techniques were also used in the interpretation of data.

The Tourism Expenditure Method was based on the assumption that economic value of ecotourism is equal to the sum of the direct, indirect, and induced economic impacts of visitor spending. This method provides a more complete picture of the economic value of ecotourism than other methods, such as the travel cost method, which only takes into account the direct economic impacts of visitor spending.

After analysis of data, the study suggests based on the tourist response that more Animals, Especially Tigers should have kept in the national park. The information sharing will create an awareness level about the animals. For creating new infrastructure and fencing near by the upper lake will avoid the risk of incidents. It is recommended that more investment is required for maintenance of the animal and park. The economic valuation differs due to change in Park policy, entry fee, and expenditure elasticity is governed by the income elasticity of individuals.

Keywords: TCM, WTP, elasticity, investment

 

 

Samarth Jaiswal & S.P. Singh (2024). Economic Valuation of Eco-tourism in Van Vihar National Park. Indian Journal of Finance and Economics. 5(2), 89-107. https://DOI:10.47509/IJFE.2024.v05i02.01

COVID-19 PANDEMIC AND BANK DEPOSITS IN GCC ECONOMIES

BY:   Turki Rashed Alshammari
Indian Journal of Finance and Economics, Year:2024, Vol.5 (2), PP.109-129
Received: 14 July 2024   |   Revised: 20 August 2024   |   Accepted: 28 August 2024   |   Publication: 30 November 2024

This study examines the impact of the COVID-19 pandemic on bank depositors in the six Gulf Cooperation Council (GCC) economies over the period from 2000 to 2023. Utilizing a comprehensive panel dataset covering Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, the research employs the pooled ordinary least squares estimator to explore the intricate relationship between the pandemic and bank depositors. The findings reveal a positive and statistically significant correlation between COVID-19 and an increase in both the “number of deposit accounts” and the “number of depositors.” This suggests that, within the GCC context, the pandemic has led to a rise in deposit activity, challenging prevailing assumptions. The positive association could be attributed to increased financial cautiousness, a flight to safety amid economic uncertainties, and enhanced confidence in the stability of the banking system during turbulent times. The study identifies policy implications, emphasizing the need for targeted financial education, transparent communication strategies, and adaptive measures to mitigate economic challenges. The study also considers economic indicators such as GDP, unemployment rate, and inflation rate, shedding light on their influence on depositors. Additionally, it proposes avenues for future research, including sector-specific impacts, the role of digitalization, cross-cultural perspectives, and the interplay of psychological and environmental, social, and governance factors influencing depositor behavior during crises. Overall, this study contributes valuable insights for policymakers, financial institutions, and researchers navigating the complexities of financial landscapes during global crises within the GCC region and beyond.

Keywords: Depositors; Banks; COVID-19 pandemic; GCC economies

Turki Rashed Alshammari (2024). Covid-19 Pandemic and Bank Deposits in GCC Economies. Indian Journal of Finance and Economics. 5(2), 109-129.

AREAS OF CORPORATE SOCIAL RESPONSIBILITY (CSR) IN SUBSIDIARY COMPANIES OF MOBILE TELEPHONY IN CAMEROON: WHAT GUIDELINES FOR A RELEVANT CSR?

BY:   ONGONO AMOGO Tobie Nicaise, Dadem Kemgou Edouard Guilaire and MVOGO Jean
Indian Journal of Finance and Economics, Year:2024, Vol.5 (2), PP.131-147
Received: 24 September 2024   |   Revised: 20 October 2024   |   Accepted: 24 October 2024   |   Publication: 30 November 2024

The corporate social responsibility (C.S.R) is in full expansion throughout the world. However, in Africa this concept remains in embryonic stage despite some research. The purpose of this article is to understand the areas of corporate social responsibility of multinational companies of mobile telephony operating in Cameroon to provide relevant guidance. Our methodological posture calls for an analysis by case study. This one mobilizes an approach based on the documentary study, the realization of semi-structured interviews with the managers of the subsidiaries surveyed and non- participant observation. The CSR being appreciated under the prism of economic, social and environmental aspects, our results show that the subsidiaries studies tend to be effective in carrying out economic and social actions. They open up a reflection on the management capable of promoting environmental practices.

Keyswords: Corporate social responsibility, subsidiary companies, mobile telephony

Ongono Amogo Tobie Nicaise, Dadem Kemgou Edouard Guilaire & Mvogo Jean (2024). Areas of Corporate Social Responsibility (CSR) in Subsidiary Companies of Mobile Telephony in Cameroon: What Guidelines for a Relevant CSR?. Indian Journal of Finance and Economics. 5(2), 89-107.

PASTORALIST PRACTICES OF MECHERI SHEEP IN ITS BREEDING TRACT: AN ECONOMIC STUDY

BY:   V. Sumathi, T. Karthikeyan and A. Janani
Indian Journal of Finance and Economics, Year:2024, Vol.5 (2), PP.149-172
Received: 25 September 2024   |   Revised: 24 October 2024   |   Accepted: 30 October 2024   |   Publication: 30 November 2024

The human race has been bestowed with significant animal species since the dawn of civilization. For India, sheep is considered as one of the salient species of livestock and devote significantly to the agrarian economy, particularly in locations where crop and dairy farming are not economical. Mecheri sheep is the indigenous breed and their skins are superior and are suitable for higher quality garment or upper valued leathers. The objective of the study is to study the investment, profitability and rate of return from sheep husbandry practices and to identify the constraints faced by the sheep rearers in rearing and marketing. Primary data was collected and analyzed with statistical tools, ratios and Regression Analysis. It was found that the productivity level is low due to lack of technical knowledge besides the satisfactory net return. The market is unregulated and influenced by intermediaries. There is an inevitable need to improve the standard of Sheep pastoralism and shift in the system from conventional practices to inculcation of modern and scientific techniques are recommended. Enriching the Sheep husbandry sector through nurturing the youth agricultural startups and entrepreneurship supportive system that leads to sustainable and simultaneous development of the agrarian economy.

Keywords: Mecheri Sheep, Pastoralism, Economic Analysis, Profitability, Marketing environment

V. Sumathi, T. Karthikeyan & Janani (2024). Pastoralist Practices of Mecheri Sheep in its Breeding Tract: An Economic Study. Indian Journal of Finance and Economics. 5(2), 89-107.

DIGITAL FINANCIAL SERVICES AND SMALL AND MEDIUM ENTERPRISES’ FINANCING IN NIGERIA: A CAUSAL INFERENCE

BY:   Tajudeen Idera ABDU LMAJEED, Gbenga Festus BABARINDE, Hyeladi Stanley Dibal3, Haruna Usman and James Olatunji Ajao
Indian Journal of Finance and Economics, Year:2024, Vol.5 (2), PP.173-190
Received: 19 October 2024   |   Revised: 15 November 2024   |   Accepted: 22 November 2024   |   Publication: 30 November 2024

Business thrives on finance and as such digital finance should drive business enterprises’ financing. In a bid to verify the preceding assertion, this study was conducted to establish causality relationship between digital financial services and small and medium enterprises’ financing in Nigeria, during the period, 2009Q1 to 2021Q4. After preliminary test like descriptive statistical test, unit root test, correlation test and cointegration test, Granger causality test was performed using the time series data obtained from Central Bank of Nigeria’s statistical bulletin. Empirically, study found that long-run relationship exists between digital financial services and Deposit Money Banks’ credit to small and medium enterprises (SMEs) in Nigeria. The causal inference suggests the existence of a unidirectional causality flow from Automated Teller Machine digital financial service to Deposit Money Banks’ credit to SMEs in Nigeria unlike non-causal relations established between Point of Sale digital financial service and Deposit Money Banks’ credit to SMEs in Nigeria. Furthermore, mobile-pay and web- ay digital financial services granger-caused Deposit Money Banks’ credit to SMEs in Nigeria in a unidirectional manner. The study concludes that digital financial services are drivers of SMEs’ financing in Nigeria. This implies that to improve SMEs’ financing in Nigeria, there is a need to embrace digital financial innovations by both the operators and financiers of SMEs, as well as the consumers of SMEs’ products and services. Government policies and institutional framework needed to ensure financing of SMEs through digital financial innovations should be encouraged in the country.

Keywords: Digital Financial Services, Deposit Money Banks, DMBs, Granger Causality Test Small and Medium Enterprises, SMEs,

Tajudeen Idera Abdulmajeed, Gbenga Festus Babarinde, Hyeladi Stanley Dibal, Haruna Usman & James Olatunji Ajao (2024). Digital Financial Services and Small and Medium Enterprises’ Financing in Nigeria: A Causal Inference. Indian Journal of Finance and Economics. 5(2), 173-190.

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