This study investigates the concept and strategic significance of economic corridors, particularly focusing on India’s initiatives in Eurasia, including the International North-South Transport Corridor (INSTC) and Chabahar Port. The primary objective is to analyze how economic corridors serve as instruments for enhancing regional integration, economic growth, and geopolitical influence. Drawing from historical trade routes like the Silk Road, the research explores how modern corridors have evolved into critical drivers of global connectivity. The methodology employed includes a systematic review of academic literature, policy reports, and case studies on various economic corridors, with a particular emphasis on India's projects. The research further evaluates the infrastructure, trade facilitation, investment zones, and institutional cooperation involved in these corridors. The study also assesses social and environmental considerations, alongside an examination of ongoing developments in key Indian initiatives. The findings highlight the potential of economic corridors to significantly improve regional trade and integration, with the INSTC and Chabahar Port offering India strategic advantages in accessing new markets and counterbalancing regional competitors. However, the study also identifies challenges, including infrastructure bottlenecks, geopolitical tensions, and the impact of international sanctions, which may hinder the full realization of these corridors' potential.
REVIEW ARTICLE | Sept. 11, 2024
The Impact of Foreign & Domestic Investment on Export Processing Zones in Bangladesh: An Auto Regressive Distributed Lag (ARDL) Approach
Sumona Akter Sumi, Roksana Akhter, Sabiha Binta Hasan, Dipti Bhowmik
Page no 290-297 |
DOI: https://doi.org/10.36348/sjef.2024.v08i09.002
Foreign Direct Investment (FDI) is a major force behind the integration of the global economy and has the potential to boost economic development in both investing and those receiving the investment. The majority of the study focuses on the influence of FDI on Bangladesh’s economic growth. A number of scholars have also looked at how FDI affects trade, domestic investment and other economic sectors. But surprisingly less research has been done on the effects of FDI on Bangladesh's export processing zones (EPZs). This study tries to investigate the impact of foreign and domestic investment on exports of EPZs between 2011-2022. To investigate EPZs export, this study used the Auto Regressive Distributed Lag (ARDL) approach. The Wald test was used to determine the direction of causation. The ARDL estimate shows that investment, GDP and FDI all have a positive correlation with rising EPZ export. The coefficient for FDI inflows is 0.15% which suggests that if FDI inflows raise by 1%, EPZ export will grow by 0.15% while all other factors stay constant. It also shows that a 1% increase in investment leads to 1.32% quicker growth in EPZ exports, assuming all other factors remain constant. The Wald test demonstrates the bilateral causal relationship between EPZ export & FDI and the unidirectional relationship between EPZ export & GDP. Therefore, Bangladesh must take immediate measures to protect potential foreign investors in order to provide a welcoming environment so that they can feel their contribution in the Bangladeshi business industry is respected.
Organic products are grown under a system of agriculture without using chemical fertilizers and pesticides, with an environmentally and socially responsible approach, and provide healthy food. It is developing rapidly and is practised in more than 120 countries. In 2022-23, the total area under the organic certification process (registered under the National Programme for Organic Production) is 10.17 million ha. This includes 5.39 million ha of cultivable area and another 4.8 million hectares for wild harvest collection. Madhya Pradesh has covered the most significant area under organic certification. In contrast, India produced around 2.9 million MT of certified organic products, which include all varieties of food products, namely Oil Seeds, fibre, Sugar cane, Cereals and millets, Cotton, Pulses, Aromatic and Medicinal Plants, Tea, Coffee, Fruits, Spices, Dry Fruits, Vegetables, Processed foods etc. The production is not limited to the edible sector; it produces organic cotton fiber, functional food products, etc. Among different states, Madhya Pradesh is the largest producer. In terms of exports, the total value was 0.31 million Mt. The organic food export realisation was around Rs. 5525.18 Crore (708.33 million USD). Products are exported to the USA, European Union, Canada, Great Britain, Switzerland, Turkey, Australia, Ecuador, the Korean Republic, Vietnam, Japan, etc. The objectives of organic farming ensure that food production has high nutritional value in adequate quantities and preserves and enhances the long-term fertility of soils.
ORIGINAL RESEARCH ARTICLE | Sept. 17, 2024
Supporting Indonesian Online Waqf as Islamic Economics Source: Waqif Behaviour Approach in Java Island
Emmy Hamidiyah Syaiin, Yusuf Haji Othman, Irfan Syauqi Beik
Page no 305-314 |
DOI: https://doi.org/10.36348/sjef.2024.v08i09.004
Indonesia has great potential for asset waqf and cash waqf. Technological advancements show significant growth through fintech platforms for donations, zakat, and waqf. However, the magnitude of the potential of waqf and the advancement of financial technology is not in line with its realisation; this is a fundamental problem in Indonesia. The study aims to analyse the support of online waqf, an approach to waqf behaviour in Indonesia, by examining the influence of waqf literacy, trust, and attitude on behavioural intentions and behaviour of users who pay online cash waqf with age as a moderating variable. The study used a quantitative method with a survey approach to waqif in Indonesia, totalling 242 respondents through purposive sampling domiciled on the island of Java. Data analysis uses a structural equations model with the partial least squares (SEM-PLS). The study found that waqf literacy, beliefs, and attitudes have a significant relationship and a positive influence on behavioural intentions and user behaviour. Age has a significant impact on moderating the relationship between literacy and behavioural intentions. Behavioural intentions are significantly related to online waqf user behaviour. The implications of the research are increasing the support of literacy, trust and attitude to increase the potential for the realisation of online waqf in Indonesia, especially on the island of Java. The waqif behaviour approach strengthens the literature on Muslim social contributions. Further research examines the behavioural aspects of online waqf recipients (nazir) with qualitative and quantitative method approaches.
ORIGINAL RESEARCH ARTICLE | Sept. 23, 2024
Internal Control and Firms’ Financial Performance in Nigeria: A Study of Selected Manufacturing Firms
Dr. Olurotimi Ogunwale, Dr. Isibor Areghan
Page no 315-323 |
DOI: https://doi.org/10.36348/sjef.2024.v08i09.005
This study was carried out for the purpose of understanding the impact of internal control on firm performance. This research wanted to prove that internal control played an important role on the performance of ten selected manufacturing firm in Nigeria. Internal control factors like board size, audit committee size, and board independence were investigated to see how they impact performance. Secondary data gotten from the ten manufacturing firms’ financial statement were analyzed using the panel data regression analysis. Although the fixed effect and the random effect regression were carried out, the Hausman test pointed to the fixed effect regression as significant, hence it was focused on. Findings from the fixed effect revealed that board size, audit committee size, and board independence were all significant in impacting firm performance measured by equity returns. The study therefore recommended among others that the Board of directors should be more diverse in the composition of board members as this would boost their independence.