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Journal of Development Economics and Finance

Journal of Development Economics and Finance

Frequency :Bi-Annual

ISSN :2582-5194

Peer Reviewed Journal

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Table of Content :-Journal of Development Economics and Finance , Vol:4, Issue:2, Year:2023

Assessing Satisfaction levels of the Earthquake Beneficiaries with the Post-disaster Private Housing Reconstruction Programme: Evidence from Nepal

BY :   Namita Poudel Bhusal and Keshab Bhattarai
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.277-308
Received: 02 June 2023  | Revised: 22 June 2023  | Accepted : 10 July 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.01 

Following the 2015 earthquake, Nepal embarked on an ambitious post-disaster housing reconstruction programme, constructing approximately 700,000 houses through the owner-driven private housing reconstruction (ODR) approach. This programme is considered as the largest owner-driven initiative globally. Inclusive policies in as the Socio-Technical Assistance programmes along with ODR approach was targeted to meet the unique needs of the most disadvantaged and vulnerable individuals who were disproportionately affected by disaster and encountered significant obstacles during the recovery process.

The primary objective of this mixed method study is to conduct a critical analysis of the satisfaction of the ODR-Socio-Technical Assistance for private housing reconstruction support program after eight years, for which a set of parameters were identified. Data were collected through a 304-questionnaire survey, interviews, and field observation. Detailed analysis of survey data was done through IBM SPSS 27.

The findings from the survey and interviews revealed that the satisfaction level of ODR-Socio-technical assistance (ODR-STA) led reconstruction efforts were equally distributed, consistent and unbiassed among the beneficiaries based on socio-economic indicators such as age, gender, ethnicity, religion, education, and vulnerability. In summary, only 2% respondents expressed dissatisfaction with the reconstruction programme. STA component is evidenced to have been tailored to the needs of vulnerable beneficiaries for the reconstruction and recovery endeavours.

Keywords: Gorkha earthquake 2015, Owner-driven reconstruction, Private housing reconstruction, Satisfaction, Vulnerable earthquake beneficiaries.

Namita Poudel Bhusal & Keshab Bhattarai (2023). Assessing Satisfaction levels of the Earthquake Beneficiaries with the Post-disaster Private Housing Reconstruction Programme: Evidence from Nepal. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 277-308. https://DOI: 10.47509/JDEF.2023.v04i02.01

Investigating Relational Dynamics, Innovation and Business Performance in SCM

BY :   Vipul Chalotra and Rachita Sambyal
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.309-323
Received: 12 June 2023  | Revised: 10 July 2023  | Accepted : 18 July 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.02 

To improve value delivery to consumers by cost reduction and quality -service improvement ,firms are refocusing on their distribution networks. The present study has synthesised and investigated the inter and intra relationship between/among channel partners, moderating role of innovation between channel partners & business performance and constraints in supply chain integration. A list of 44 functional SSIs in district Udhampur were obtained from Directorate of Industries & Commerce (DIC), Udhampur of UT J&K. The sampling technique used to generate responses from 525 respondents was snowball/referral. Effective response was received from 240 respondents sub-divided into manufacturers (44),wholesalers (74) and retailers(122),representing response rate of 46 %.Data were analysed using One way ANOVA, Hayes PROCESS macro and descriptive statistics. Output from one way ANOVA shows that manufacturer, wholesaler and retailers differ with regard to product planning, order processing, nature of discounts, return of defective goods, procurement of raw material, price stabilization ,inventory management, control over cost of production, production schedule, nature of goods etc. Innovation significantly impact the relationship between channel partners and business performance. Several constraints ranging from technology, information sharing, leadership etc. were identified in achieving SCI.

Keywords: SCI, Moderation, Relational dynamics

Vipul Chalotra & Rachita Sambyal (2023). Investigating Relational Dynamics, Innovation and Business Performance in SCM. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 309-323. https://DOI: 10.47509/JDEF.2023.v04i02.02

Interrelationship between Rainfall Index and Nifty Index: An Empirical Study

BY :   Dileep N. and G. Kotreshwar
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.325-336
Received: 22 June 2023  | Revised: 20 July 2023  | Accepted : 04 August 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.03 

The proposed study is an attempt to determine whether a relationship exists between rainfall index and NSE Nifty index. The study used the monthly mean rainfall data and monthly closing price of Nifty index. The study applied Augmented Dickey-Fuller (ADF) test, correlation analysis, the GARCH (1,1) model, and the Granger Causality test to analyse the interrelationship. The results of correlation matrix show that there is no interrelationship between the two variables. The GARCH (1,1) model found that the NSE Nifty index is not affected by the rainfall index and Granger Causality test displays that rainfall index does not Granger Cause the Nifty index. According to the authors' knowledge, this is the first empirical study to determine the interrelationship between the rainfall index and the Nifty Index over a longer period of time.

Keywords: Rainfall index, NSE Nifty index, GARCH (1,1) model, Granger Causality test and Distinct asset.

Dileep N. & G. Kotreshwar (2023). Interrelationship between Rainfall Index and Nifty Index: An Empirical Study. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 325-336. https://DOI: 10.47509/JDEF.2023.v04i02.03

The Impact of Internal Control on the Performance of SMEs in Cameroon

BY :   Dadem Kemgou, Ongono Amogo, Deutou Nkengwou Zacharie, Tsiaze Mouaffo and Manetsa
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.337-358
Received: 15 July 2023  | Revised: 18 August 2023  | Accepted : 28 August 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.04 

The aim of this study was to examine the impact of internal control on the performance of SMEs in Cameroon. This is due to the fact that many SMEs are family owned and owners are not always put qualified people to assure control. As a result, internal control is often neglected, especially in accounting which can lead to erroneous decisions. Drawn from the literature, independent variables namely, internal tools, determinants of performance, challenges of internal control and impact of internal control were formulated to link each research question and joint their impact on performance indicators such as management, organization and profitability. It is in this view that the followings hypotheses have been sated: there is no relationship between internal control system and performance of SMEs, there is strong relationship between internal control system and performance of SMEs, there is a significant influence of tools and determinants of the internal control on the performance of SMEs. In order to test these hypotheses, we used the multiple regression analysis, and the technique of estimations was the ordinary least squares and the data were extracted from a questionnaire. The results found a positive significant relationship between internal tools, determinants of performance, challenges of internal control and the performance of SMEs in Cameroon. This indicates that there is a direct relationship between internal tools, determinant of performance, challenges of internal control and performance of SMEs in Cameroon. The results also find a positive but non-significant relation between impact of internal control and performance of SMEs in Cameroon.

Keywords: internal control, determinants, performance, SMEs, internal tools.

Dadem Kemgou, Ongono Amogo, Deutou Nkengwou Zacharie, Tsiaze Mouaffo & Manetsa (2023). The Impact of Internal Control on the Performance of SMEs in Cameroon. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 337-358. https://DOI: 10.47509/JDEF.2023.v04i02.04

Effect of Commercial Bank Credit Facilities to Agriculture on Real Output Growth in Nigeria

BY :   Miftahu Idris and Bawa, Sunday Samaila
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.359-374
Received: 19 July 2023  | Revised: 28 August 2023  | Accepted : 05 September 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.05 

The study examined the effect of commercial bank credit facilities to agriculture on real output growth in Nigeria. It was established that Commercial bank credit facilities to agriculture can be described as a financial institution that grant loans, accept deposit, and other financial product such as saving account and certificate of deposit to businesses, as proposed to a retail bank that provides similar financial product to individuals. The study equally adopted some mathematical and econometrics techniques such as ADF for unit root test, ARDL model for long run and short run coefficient, Bound test and Diagnostic test. The study revealed that commercial bank credit facilities to agriculture have positive and significant effect on real output growth in Nigeria. However, the study equally concluded and recommended that Machinery should be set up to ensure that loans given to farmers are utilized for the purpose. Farmers caught using the loans for other purposes should be sanctioned. And also recommended that It is important that commercial bank credit with low interest rate be made available to famers in order to assist them procure the needed precursor in terms of agricultural facilities. As indication from findings shows that CBCFAs has positive impact on agricultural output growth.

Keywords: commercial bank credit facilities on agriculture, real output growth, ARDL Model.

Miftahu Idris & Bawa, Sunday Samaila (2023). Effect of Commercial Bank Credit Facilities to Agriculture on Real Output Growth in Nigeria. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 359-374. https://DOI: 10.47509/JDEF.2023.v04i02.05

Stock Market Openness and U.S. Portfolio Inflows: A Case Study of India

BY :   Shamila A. Jayasuriya
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.375-402
Received: 13 August 2023  | Revised: 14 September 2023  | Accepted : 04 October 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.06 

In this paper, we examine the link between stock market openness and U.S. portfolio inflows in the emerging market economy of India. Using monthly data for companies that are listed on the Indian stock exchange, we first construct share-weighted openness indices at the aggregate and sector levels. We employ an older data set for the period from December 1992 to November 2004 for which data is available. We perform a regression analysis and find that aggregate openness is not a key determinant of inflows. Instead, stock market behavior is. However, we identify one sector – utilities sector – for which openness has had a significant impact on U.S. portfolio inflows even after controlling for stock returns and interest rate differentials.

Keywords: Stock market openness; Aggregate and Sector indices; Portfolio inflows; Stock returns; Emerging market economies

???????JEL Classification: G14; G15


Shamila A. Jayasuriya (2023). Stock Market Openness and U.S. Portfolio Inflows: A Case Study of India. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 375-402. https://DOI: 10.47509/JDEF.2023.v04i02.06

The Effect of Education on Consumer Rationality

BY :   Uttam Lal Joshi
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.403-419
Received: 19 August 2023  | Revised: 24 September 2023  | Accepted : 14 October 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.07 

Consumer rationality may have certain relationship with education of the consumers. This study aims to explore the effect of education on consumer rationality in the present context of Nepal. Survey is conducted to collect data from various wards of Hetauda Sub –Metropolitan City. Binary Logistic Regression Model is applied to analyze and interpret the data. Education, age, income and expenditure are taken as independent variables and the dependent variable consumer rationality has three dimensions- price, quality and brand. Result shows education is not significant to explain consumer rationality on price but it is significant to explain other dimensions- quality and brand at 1 percent level. It signifies Education has positive impact on consumer rationality on quality and brand dimensions. So, policy makers should focus on consumer education to enhance them to be rational on their purchase behavior. It can promote the healthy marketing activities and protect consumers’ right.

Keywords: Binary Logistic Regression, brand, consumer rationality, price, quality.

Uttam Lal Joshi (2023). The Effect of Education on Consumer Rationality. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 403-419. https://DOI: 10.47509/JDEF.2023.v04i02.07

Public Spending Causal Impact on Bank-Based Financial Development: Evidence from Selected African Economies

BY :   Saganga Mussa Kapaya
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.421-450
Received: 13 September 2023  | Revised: 12 October 2023  | Accepted : 18 November 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.08 

This work examined the causal impact of types of government spending on bank-based financial development among selected African Economies. A sample included 37 African economies between 1980-2018. Both the short –run and long –run effects are assessed using either Feasible Generalized Least Squares (FGLS), Mean Group (MG), Pooled Mean Group (PMG) and Dynamic Common Correlated Effects Mean Group (DCCEMG) estimators. Evidences support the hypotheses that both productive and non-productive government spending contribute positively to bank-based financial development. Also, confirm the supportive roles of trade openness and GDP per capita, and illustrate the detriment of inflation to bank-based financial development.

Keywords: bank-based financial development, government spending, Africa, CCEMG

JEL Codes: O57, F65, C33


Saganga Mussa Kapaya (2023). Public Spending Causal Impact on Bank-Based Financial Development: Evidence from Selected African Economies. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 421-450. https://DOI: 10.47509/JDEF.2023.v04i02.08

Consumption Functions of India: Pre and Post Covid-19

BY :   Alivelu Kasturi, Keshab Bhattarai, Asha Prasuna and S.N.V. Siva Kumar
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.451-463
Received: 23 September 2023  | Revised: 26 October 2023  | Accepted : 04 November 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.09 

Consumption is essential for living for every individual. Better consumption is the most important economic goal of every individual from rich or poor households whether they are located in urban or rural areas. There is huge theoretical and empirical literature in the micro and macroeconomics discussing important factors that determine, level, growth, distribution of consumption in a particular time or over the years. COVID-19 global pandemic had seriously affected consumption of individuals in every part of the world. Focus of this paper is on estimation of consumption functions of rich and poor households located in rural and urban areas in India and its twenty-eight states. Major findings of this study are that the marginal propensity to consume is 49.8 percent in India from macro time series for 1990-2020. At micro-Household level data still shows positive and significant impact of income on consumption but the MPC is a lot lower than at the macro level. Urban areas have higher consumption than that in rural area. Also, huge differences across states were also observed.

Keywords: Consumption functions, MPC, India

JEL Classification: D12, E21, H31

Alivelu Kasturi, Keshab Bhattarai, asha Prasuna & S.N.V. Siva Kumar (2023). Consumption Functions of India: Pre and Post Covid-19. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 451-463. https://DOI: 10.47509/JDEF.2023.v04i02.09

The Contribution of Ethics to Banking Governance: An Analysis in Subsidiary Banks with Predominantly Pan-African Capital

BY :   ONGONO AMOGO Tobie Nicaise, DADEM KEMGOU Edouard Guilaire and LEKINI Dieudonné Justin
Journal of Development Economics and Finance , Year: 2023,  Vol.4 (2),  PP.465-482
Received: 05 October 2023  | Revised: 15 November 2023  | Accepted : 22 November 2023  | Publication: 01 December 2023 
Doi No.: https://DOI:10.47509/JDEF.2023.v04i02.10 

The objective of this article is to contribute to a better understanding of the contribution of ethics in banking governance. The field of investigation is Cameroon. The study covers three subsidiary banks with predominantly Pan-African capital. The empirical material results from an approach marked by documentary study and the realization of semi-structured interviews with managers and bank customers. The results of the analysis show that the banks surveyed see ethics as a governance tool that enables them to improve their image and reputation. They open a reflection on the governance model capable of promoting the consideration of ethics within the banks surveyed.

Keywords: Ethics, banking governance.

Ongono Amogo tabie Nicaise, Dadem Kemgou Edouard Guilaire & Lekini Dieudonne Justin (2023). The Contribution of Ethics to Banking Governance: An Analysis in Subsidiary Banks with Predominantly Pan-African Capital. Journal of Development Economics and Finance, Vol. 4, No. 2, pp. 465-482. https://DOI: 10.47509/JDEF.2023.v04i02.10

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