60 Articles
Dr Sijie Hu, Magdalena Kapito
This paper examines the role of e-payment initiatives in Malawi's social protection programs, with a focus on their impact on women's empowerment. As primary beneficiaries of social cash transfers, women often face barriers to accessing and controlling financial resources. The introduction of electronic payment systems, such as mobile money, has the potential to enhance women's financial inclusion, decision-making power, and economic independence. Using a mixed-methods approach, this study analyzes the experiences of women beneficiaries in Malawi, highlighting the benefits and challenges of e-payment systems. The findings suggest that while e-payments have improved the efficiency and transparency of cash transfers, significant barriers remain, including limited digital literacy, access to mobile phones, and patriarchal norms. The paper concludes with recommendations for policymakers to design gender-sensitive e-payment systems that maximize women's empowerment and social protection outcomes.
Damasin, Lore Neil, Geollegue, keenly, Ulgasan, Dexter
This study aimed to examine the relationship between factors affecting performance and business performance among small and medium enterprises (SMEs) in Poblacion, Monkayo. Specifically, it sought to determine the level of performance measurement, assess the extent of factors affecting performance, and analyze the relationship and effect between these variables. A quantitative research design was employed using a survey questionnaire administered to 300 SME respondents. Descriptive statistics revealed that performance measurement had a mean of 3.7967, indicating a relatively high level of business performance, while factors affecting performance obtained a higher mean of 4.0177, suggesting strong agreement on their importance. Pearson correlation analysis showed a moderate positive relationship between the variables (r = 0.476, p < 0.01), indicating that improvements in influencing factors are associated with increased business performance. Furthermore, regression analysis confirmed that factors affecting performance significantly predict performance measurement (β = 0.476, t = 9.340, p < 0.05), with the model also found to be statistically significant (F = 87.238, p < 0.05). The findings imply that key business factors such as financial management, marketing strategies, and operational practices play a crucial role in enhancing SME performance. It is therefore recommended that SME owners strengthen these areas and engage in continuous improvement practices. Additionally, government agencies and institutions should provide support through training programs and financial assistance. Future researchers are encouraged to explore other variables that may further explain business performance.
Dr. Prashant Singh, Ritesh Patel, Sejal Jaiswal
Micro, small, and medium enterprises (MSMEs) in India confront acute financing gaps and sustainability compliance hurdles amid the evolving India-EU Free Trade Agreement (FTA), concluded in January 2026, which promises enhanced market access but imposes stringent EU Green Deal regulations like the Carbon Border Adjustment Mechanism (CBAM). This theoretical paper aims to construct a conceptual framework integrating supply chain finance (SCF) mechanisms—such as reverse factoring and dynamic discounting—with MSME resilience and ESG compliance in the FTA context. Drawing on secondary sources including EU policy documents, RBI reports on MSME trade finance, WTO publications, and Ministry of Commerce data, the analysis reveals SCF's potential to bridge liquidity shortfalls, where formal channels meet only 28.5% of India's $284 billion export needs, while enabling adherence to EU carbon standards. Key conceptual insights highlight SCF as a transaction-cost reducer and liquidity stabiliser, fostering export competitiveness for MSMEs, contributing 28% to India's exports. Policy implications advocate institutional reforms for fintech-enabled SCF platforms, regulatory harmonisation, and green financing incentives to bolster sustainable trade integration and position Indian MSMEs for resilient participation in EU value chains. This framework underscores SCF's role in aligning financial innovation with trade-policy imperatives.
Dr. Anne N. Ngeretha, Dr. Lucy K. Njagi, Wilfred Kathuri Njeru
The sustainability of educational quality is fundamentally contingent upon the psychological well-being and professional contentment of the teaching workforce. This study sought to establish the relationship between remuneration and job satisfaction among public and private day primary school teachers in Mbeere North Sub-county, Embu County, Kenya. Grounded in Herzberg’s Two-Factor Theory and Adam’s Equity Theory, the research adopted a descriptive survey design. A sample of 126 respondents was analyzed, representing an 89% response rate. Analysis was executed using descriptive statistics and Pearson’s Product-Moment Correlation via SPSS version 26. The empirical findings revealed a stark contrast between school categories: in public schools, the relationship between remuneration and job satisfaction was weak and statistically insignificant (r = -0.109, p > 0.05), whereas in private schools, a strong and statistically significant positive relationship was observed (r = 0.599, p < 0.05). The study concludes that while remuneration is a critical motivator in private institutions, it does not significantly drive satisfaction in public schools under current structures. It is recommended that stakeholders re-evaluate compensation frameworks to align with contemporary economic indicators.
Abdul Samad Abdul-Rahim, Mohamad Fakri Zaky Jaafar, Mohd Zaim Mohd Shukri, Wan Norhidayah W. Mohamad
The benefits of affordable housing extend beyond the number of units built or households housed. The most significant difficulty in the assessment of affordable housing is to measure the cultural, social, and environmental impacts which are often considered 'intangible' and sometimes overlooked. This research involved a literature review, analysis of existing SROI studies of affordable housing, and construction of a Framework for determining the SROI for investments in affordable housing. This paper provides a proposed framework for using the Social Return on Investment (SROI) as a viable way to demonstrate the impact of government spending on housing by attaching a monetary value to the benefits housing brings to residents, housing providers, and the local economy.
Ng Wee Fern, Prof. Madya Dr. Rohaya Abd Jalil
The valuation of patents has become a critical concern for universities seeking to commercialize research outputs and enhance their contribution to national innovation systems. This challenge is particularly pronounced in the real estate sector, where technological innovations such as smart building systems, sustainable construction methods, and digital property management solutions are subject to heightened uncertainty, regulatory complexity, and market volatility. Existing patent valuation approaches—primarily cost-, market-, and income-based methods—were largely developed for industries with predictable commercialization pathways and therefore struggle to capture the unique risk profile of real estate-related patents generated within academic institutions. This study proposes a risk-adjusted patent valuation framework tailored to real estate innovations originating from Malaysian universities. Drawing on intellectual capital theory and a structured analysis of market, technological, regulatory, and commercialization capability risks, the framework embeds risk directly into valuation logic rather than treating it as a post hoc adjustment. The framework advances existing valuation practices by aligning valuation mechanisms with sector-specific realities and institutional conditions. The contribution of this paper is threefold. First, it extends the intellectual capital literature by theorizing risk as a structural dimension of patent valuation. Second, it offers a methodological contribution through a risk-embedded valuation framework suitable for university-generated patents. Third, it provides contextual insights from Malaysia, an underrepresented setting in patent valuation research. The framework supports more informed commercialization strategies and strengthens the strategic role of universities in real estate innovation.
Dennis Ngobi, Sixbert Sangwa, Stanley Mukasa
Purpose: This study interrogates the paradox of employer-reported “labour shortages” in labour-abundant African economies. It advances the claim that shortage signals are partly institutional outputs: they arise when screening rules narrow the effective labour pool, rather than reflecting exogenous skill scarcity. Design/methodology/approach: Drawing on labour market segmentation, information economics, and critical institutionalism, we analyse 10,432 job advertisements scraped monthly (January 2024–June 2025) from leading portals in seven Anglophone African countries. A rigorously validated support-vector-machine classifier distinguishes explicit numeric age ceilings from implicit youth-coded cues to construct an Age-Coded Hiring Index (ACHI). We triangulate ACHI with employer-reported workforce-constraint indicators from the World Bank Enterprise Surveys and labour-underutilisation (LU4) from ILOSTAT, estimating fixed-effects and interaction models to test whether age-coded screening predicts shortage complaints most strongly where latent labour supply is greatest. Findings: Age-coded screening is pervasive in vacancy texts: approximately 15–20% of postings impose numeric age caps and a much larger share deploys implicit youth signals. Higher ACHI is robustly associated with stronger shortage complaints net of underutilisation and macro controls, and the relationship steepens under high labour slack, consistent with an institutional mechanism in which screening rules convert latent labour supply into perceived scarcity. Originality/value: Conceptually, the paper reframes “shortage” indicators as partially endogenous to screening rules and to employers’ definition of “suitability,” rather than treating them as market facts. Empirically, it introduces a replicable NLP-based measure of exclusionary screening from vacancy text, enabling cross-country tests of institutional scarcity dynamics in low- and middle-income contexts. Practical implications: The results imply that diagnostic and policy responses to “shortages” should not presume supply failure alone; they should also examine how recruitment criteria restrict the recognised labour pool and thereby shape shortage measurement itself.
Muhammad Ashraf Anuar, Norlia Mat Norwani, Rusliza Yahaya
In the current world, financial wellbeing has been recognized as an incredibly important indicator of overall quality of life, specifically for disadvantaged groups, which includes persons with disabilities (PWDs). Despite growing awareness, few studies have examined factors influencing financial wellbeing, such as financial literacy, financial inclusion, and social support for PWDs in Malaysia. Grounded in Self-Determination Theory, financial literacy improves competencies, financial inclusion fosters autonomy, and social support fulfils relatedness on interpersonal support. To examine this relationship, the data were collected through questionnaires using 5-point Likert Scales and were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings show financial literacy, financial inclusion, and social support significantly influence financial wellbeing. These findings highlight the significant importance of financial literacy, financial inclusion, and social support in enhancing PWD’s financial wellbeing. This study contributes to the existing literature for PWDs and empirical evidence for financial wellbeing in the context of Malaysia. The present findings offer practical implications for policymakers and financial institutions regarding the inclusive financial education, accessibility, and assistance initiative to support financial wellbeing for PWDs.
Adil Kari Salam Harahap, Nevy Diana Hanafi, Sri Fajar Ayu
In the process of exporting sheep to Malaysia, there are several stages that sheep must go through, starting from the pen to the destination (Malaysia). Sheep always interact and receive treatment from humans during the export process. This has the potential to cause suffering for sheep. Sheep are often only used as objects. These sheep deserve attention in terms of animal welfare. The purpose of this study is to analyze the effectiveness of the application of animal welfare principles carried out by each party involved in sheep exports to Malaysia through Teluk Nibung Port, Tanjungbalai City, North Sumatra Province from 2019-2022. The analysis used in this study is a descriptive analysis using the CIPP model evaluation approach (context, input, process, product). Exporters are suspected of several times not paying attention to the application of animal welfare. One example is a sheep that cannot stand and even the sheep's legs protrude from the wall of the transport vehicle during transportation. The application of animal welfare in the sheep export process was implemented effectively with a score of 26.4 or 62.92%.
Ekwunife Gabriel Okafor, Mbamalu Euphemia Ifunanya, Nwokoye, Ifeoma Emmanuella
Artificial intelligence (AI) has become an essential part of modern e-commerce, primarily through algorithm-driven personalisation that customises product suggestions and content for individual consumers. Although AI applications are spreading rapidly, there is limited empirical evidence on how AI-driven personalisation influences online purchase intentions in emerging markets, particularly regarding the psychological processes underlying this relationship. This study investigates the impact of AI-driven personalisation and consumer attitudes towards AI on online purchase intentions, with consumer awareness acting as a mediating variable. Rooted in the Technology Acceptance Model (TAM) and the Theory of Planned Behaviour (TPB), the study uses a quantitative, cross-sectional research design. Data were gathered from online shoppers in major cities across South-East Nigeria through a structured questionnaire. Partial Least Squares Structural Equation Modelling (PLS-SEM) was used to examine both direct and indirect relationships among the study's constructs. The results show that consumer attitude towards AI has a significant positive direct effect on online purchase intention. Conversely, AI-driven personalisation does not significantly influence purchase intention. Instead, its impact works indirectly via consumer awareness. Further analysis reveals that consumer awareness significantly mediates the relationship between consumer attitude towards AI and online purchase intention, emphasising awareness as a vital cognitive pathway through which positive perceptions of AI are converted into behavioural intention. The study concludes that AI personalisation alone is not enough to encourage online purchasing in emerging markets unless consumers clearly understand how AI systems operate and the value they offer. By empirically positioning consumer awareness as a key mediating factor, the study expands TAM and TPB in AI-enabled consumption contexts. It offers practical insights for e-commerce platforms seeking to deploy AI responsibly and effectively in emerging digital economies.
Damia Madihah Abdul Aziz, Nur Atiqah Atilah Johari, Nur Fatimah Aliah Mustapa, Nur Nadiah Sahibul Fathilah, Siti Ayu Jalil, Wan Khairunnisa Sya'irah Wan Abdul Manan
This study empirically investigates the effects of selected macroeconomic factors—GDP per capita, energy prices, industrial value-added share, transport services for commercial trade (exports and imports), and urbanization—on energy consumption in Malaysia from 1980 to 2022. The key aim is to quantify the extent to which these macroeconomic factors explain variations in national energy usage across four decades. The regression results, supported by diagnostic tests, indicate that only GDP per capita and industrial sector share exert a positive and statistically significant effect on energy consumption in Malaysia. This outcome lends support to the Kaya identity framework, emphasizing the integral role of energy utilization in driving economic growth and industrial expansion. Therefore, Malaysia policy efforts should focus on improving industrial energy efficiency, promoting renewable energy adoption, and facilitating structural transformation toward less energy-intensive sectors. Such measures are essential to ensure that economic growth remains sustainable while mitigating excessive increases in national energy demand.
Dr. Anne N. Ngeretha, Dr. Lucy K. Njagi, Wilfred Kathuri Njeru
The school environment serves as the physical and psychological platform for teaching and learning. This study aimed to determine the relationship between working conditions and job satisfaction among primary school teachers in Mbeere North Sub-county, Embu County, Kenya. Grounded in Herzberg’s Two-Factor Theory, the study utilized a descriptive survey design. A sample of 126 teachers (68 public, 58 private) was analyzed using descriptive statistics and Pearson Correlation via SPSS version 26. Findings revealed that working conditions and job satisfaction had a weak but statistically significant positive relationship in public schools (r = 0.244, p < 0.05). In private schools, the relationship was found to be strong and statistically significant (r = 0.644, p < 0.05). The study concludes that while working conditions influence satisfaction across both sectors, their impact is far more profound in private institutions. It is recommended that the Ministry of Education and school managers prioritize infrastructural improvements and a safe work environment to enhance teacher well-being.
Cosrojas, Karen Debbie. J, Poonon Sheila C
This study quantitatively examines the determinants of the Palay Check System adopter category among rice farmers in selected provinces of Northern Mindanao, Philippines. Using a cross-sectional survey of 271 Palay Check-trained farmers, the study employs descriptive statistics and an ordered logit model to estimate the association between socioeconomic, institutional, and farm-level factors and the adopter category, measured on a five-point ordinal scale (laggards to innovators). Descriptive results indicate a mean adopter category level of 3.454 (SD = 1.157), meaning in the early majority adopter category, with substantial variation across farmers. The ordered logit model is jointly significant (LR χ² = 95.48, p < 0.001) with a pseudo R² of 0.121. Institutional membership exerts a strong and statistically significant positive effect on being in the higher adopter categories (β = 1.371, p < 0.001), increasing the probability of being in the innovator category by 20.41 percentage points. In contrast, tenure insecurity emerges as a binding constraint; tenants (β = −0.910, p < 0.01), leaseholders (β = −1.412, p < 0.01), and farmers under other tenure arrangements (β = −1.304, p < 0.01) exhibit farmers in the lower adopter categories, with reductions in the probability of being in the innovator category of up to 19.81 percentage points. Non-farm income is negatively associated with the adopter categories (β = −0.000009, p < 0.001), consistent with opportunity cost effects. Education shows a weak negative relationship (β = −0.066, p < 0.10), while age, household size, farm income, and farming experience are not statistically significant.
Rossina Chimkwita
Private savings constitute a critical source of domestic finance for investment and economic growth, particularly in low-income economies where access to external capital is limited. Despite its importance, household-level saving behavior in Malawi remains insufficiently understood, especially regarding the distinct determinants of formal and informal savings. This study examines the socio-economic and demographic drivers of private savings using nationally representative data from the 2017 Malawi Financial Literacy and Consumer Protection Survey. A Probit regression framework is employed to distinguish between formal savings held in financial institutions and informal savings accumulated through community-based mechanisms. The results reveal a pronounced reliance on informal savings, with 34% of households participating in informal arrangements compared to only 9% in formal financial institutions. Employment status, educational attainment, and receipt of remittances emerge as the most robust determinants of saving behavior. Employment significantly increases the probability of saving through both channels, while secondary or higher education strongly promotes formal savings participation. Remittances positively affect both saving mechanisms. Income quintiles and age show limited influence once other factors are controlled for, although gender differences are evident in informal savings participation. The findings underscore the segmented nature of Malawi’s savings landscape and highlight the importance of employment generation, education, financial literacy, and digital financial integration in strengthening domestic resource mobilization.
Nguyen Thi Hai Ly, Pham Thanh Trung
This paper employs bibliographic analysis of the Scopus database from 2003 to 2026, combined with PRISMA filtering, to construct a dataset of 445 publications on Digital Product Passports (DPP). The results show that DPPs are emerging as an interdisciplinary research direction, characterized by significant collaboration (1,314 authors; an average of 3.85 authors/article; international collaboration: 20.9%), with a concentration in publishing channels such as Procedia CIRP, IFAC-PapersOnLine, Sustainability (Switzerland), and European research centers. Network analysis of authors and keywords reveals key themes, including the circular economy, product data digitization and governance, supply chain transparency, and technological trends (such as interoperability, data sharing, digital twin, Industry 4.0, and blockchain), while highlighting barriers to data standardization and information sharing mechanisms within the value chain.
Isaac Ahinsah-Wobil, Mulenga Richard
This paper discusses the reform trajectory between economic management, public finance efficiency, and governance quality within Ghana. This study was based on the institutional theory and public financial management theory. The study employed a mixed-method research design, which combined quantitative analysis of fiscal data and qualitative assessment from key stakeholders. The study used structured interviews to gather data for the qualitative study. The research found that, although Ghana has developed an extensive PFM framework, there exist weaknesses in institutions implementing reforms. The study adds to existing body of literature on PFM and Good governance in developing countries and it provides evidence based policy suggestions on how to enhance the interactions between economic management and governance performance. The implication of the study are not limited to Ghana but they can also be applied to the sub-Saharan African nations that are going through same governance and fiscal reforms.
N. T. Emaeyak
This study investigated the costs, profitability, marketing margin and constraints associated with smoked fish marketing in Akwa Ibom State. Data were collected using a structured questionnaire, and purposive sampling technique was adopted in selecting forty (40) respondents. Descriptive statistics, inferential statistics and budgeting approach (gross margin and marketing margin) were used to analyze the data. Weighted mean was used to rank the constraints faced by the smoked fish marketers in the study area. Results showed that 32.50% of the smoked fish marketers were of the age range 30 – 39years, and 100% of the marketers were females. The major constraints faced by these marketers were: high product price, homogeneity of product, poor/inadequate access roads to the central collecting market. From the analysis, the average total cost was N50,029.40/ marketer/week; average total revenue was N54,770.00/marketer/week. The marketing margin was 47%. This indicates that smoked fish marketing is profitable in the study area because of the weekly gain. If calculated perineum, it will exceed the annual percentage revenue, estimated as 23%. In order to enhance its productivity, there is therefore need to regulate the activities of the fish trade union, form smoked fish traders cooperative associations and also construct or upgrade market infrastructures and rural feeder roads in the study area. This will add to an increase in the profitability of smoked fish marketing in Uyo metropolis, Akwa Ibom State.
F. A. Nse-Nelson, G. Daniel-Igwe, J. C. Nwaru, O. R. Iheke, T. A. Amusa, U. R. Oke
Health capital is critical in achieving increased agricultural productivity and the health status of farmers affect their use of and control of other factors of production. The study examined the effect of human capital formation on agricultural productivity in Southeast Nigeria. A multi-stage random sampling technique was used in choosing the sample. Data were collected using structured questionnaires. Data collected were analyzd using simple descriptive statistical tools such as means, frequency tables, percentages, and m multiple regression analysis. were used for data analysis. Results showed that majority (57.03%) of the respondents were males while the remaining 42.97% are females. The average age of the farmers was 52 years. Majority (67%) farmers were married. On educational qualification, secondary school education was the highest level of qualification of 57% of the farmers. The average year of farming experience of the farmers was 18 years. The average household size of the farmers was 6 persons per household. The average farm size cultivated was 1.7 hectares. The result in showed that 15.66% of the farmers belong to no single farmers’ association. Meanwhile, 52.21% of the farmers indicate being members of at least one farmers’ association, while 17.27%, 13.65% and 1.20% of the farmers indicate being members of 2, 3, and 4 farmers’ associations respectively. The result on access to extension visits showed that the majority (66.67%) of the farmers had no contact with extension agents in the last cropping season. Majority (51.41%) of the crop farmers had no access to credit. About 47.79% of the farmers sourced their funds for farm business from personal savings, 41.37% of them sourced their funds from farmers’ associations, 14.46% of the farmers indicated intervention programmes as their sources of funds for farming, while 6.43%, 5.62% and 1.65% of the arable crop farmers sourced their funds for farming from thrift/esusu, friends/relatives and Microfinance banks respectively. The significant determinants of productivity were farm size (P<0.01), labour (P<0.05), expenditure on health (P<0.01), expenditure on education (P<0.05), and variable inputs (P<0.01). Increase in human capital formation increases agricultural productivity. Therefore, it was recommended that policies that enhance the health status of the farmer as well as improve access to education should be implemented for increased agricultural productivity. This will include but not limited to provision of functional and affordable care facilities and training of the farmers. In the vain, the extension service delivery system should be strengthened since it serves for the education of the farmers on improved farming techniques and innovations for enhanced productivity.
Emaeyak, Nyaknoabasi T.
This study was conducted to determine the effect of land tenure system on technical efficiency of arable crop farmers in Akwa Ibom State, Nigeria. A total of one hundred and thirteen (113) Arable Crop Farmers in Uyo Zone were selected for the study using a multistage sampling technique. Data were collected from the respondents using a questionnaire. Descriptive Statistics and the Stochastic Frontier Production Function was used to analyze the collected data. The result revealed that female farmers dominated the study area with a visible mean household size of 5 people per home. 59.3% of the respondents were married, 58.4% had a form of tertiary education while 70.8% of the respondents were visited atleast once by extension agents. The study also revealed that age, farm size, farming experience, level of education, credit, labour and land were part of the determinants of technical efficiency. It noted tenure security as a major influence to technical efficiency. Finding on the constraint to arable crop farmers indicated that out of 15 constraints analysed, thirteen were severe. From the result, the highest rated constraints to arable crop farmers was high cost of acquiring land, followed by land fragmentation/intensified s. Absence of mechanization, untimely farm inputs and insufficient capital were the next rated constraints. The table also showed the least rated constraint to arable crop production as communal instability, followed by Herders and Farmers clash. The study recommended the formulation of appropriate land policies geared towards land tenure security.
Abideen Tijani, Fatai Asimi, Kehinde Atoyebi, Samuel Olaleye
This study investigates the substitution possibilities between energy and non-energy inputs in Nigeria's manufacturing sector from 1981 to 2023. Utilizing a transcendental logarithmic (translog) cost function estimated via iterated Seemingly Unrelated Regression (iSUR), we compute both Allen and Morishima elasticities of substitution to analyze factor relationships. Results reveal significant substitution possibilities: capital and energy are substitutes with a Morishima elasticity (MES) averaging 3.66, while energy and labor show substitutability with an MES of 2.32. Conversely, capital and labor emerge as complements (MES = -1.94), suggesting that technological upgrading in this context requires simultaneous investments in human capital. These findings have crucial implications for energy and industrial policy, particularly in the context of energy price reforms and carbon taxation. We demonstrate that the Morishima elasticity provides more policy-relevant information than conventional Allen elasticities by capturing changes in input ratios rather than partial adjustments.
Bamaiyi, Garba
Energy prices play a critical role in shaping economic activity by influencing production costs, household expenditure, transportation, and overall macroeconomic stability. In Nigeria, fluctuations in the prices of diesel, kerosene, charcoal, coal, and cooking gas pose challenges to economic growth because the country relies heavily on both modern and traditional energy sources. These short-run price shifts can quickly affect inflation, production costs, and consumer welfare, underscoring the need to understand their immediate effects on economic output. This paper, therefore, examines the short-run causal relationship between domestic energy price shocks and economic growth using Granger causality modeling. The data were sourced from CBN, NBS and other reputable sources spanning from 1990 - 2026. The methodology determines whether past movements in premium motor spirit, diesel, charcoal, cooking gas, and coal prices predict short-term changes in real GDP growth. The results show no statistically significant short-run causal impact of energy prices on economic growth in Nigeria. These findings suggest that Nigeria’s economy is relatively resilient to immediate energy price shocks, possibly due to subsidies, price interventions, and the influence of broader macroeconomic factors. Hence, stabilizing short-run economic fluctuations requires more than energy price management. Key recommendations include adopting an integrated macroeconomic energy policy approach, promoting economic diversification, improving energy market monitoring, strengthening long-term energy planning, and supporting further research on sector-specific and long-term energy impacts.
Angeline Sabina Mulwa, Justus M Munyoki
The role of Artificial Intelligence (AI) in supporting rural based marketing practices has never been fully appreciated, yet AI is increasingly becoming important in organizations and continues to shape how organizations operate, especially in Africa. The influence of AI will definitely continue to significantly shape the way organizations operate during the 21st century and beyond. Rural based marketing contributes significantly towards socio economic development in Africa, particularly in the areas of agricultural growth, employment, and improved livelihoods. The changing dynamics in the rural marketing coupled with the movement of people from the rural to urban areas poses a major challenge as the urban areas become overcrowded with high unemployment and increased crime rates. It is projected that by the year 2050, 65% of Africa’s population will live in the urban areas This scenario posing a major challenge of feeding the urban population that will be depending on food supplies from rural area. Adoption of AI in Africa remains low, particularly in the rural areas, yet this is where most of the agricultural activities employing 60-70% of labour force, and accounting for 30 -40% of GDP is found. Using the social theory of change and Schumpeter’s theory of innovation, this study explores the role that Artificial Intelligence can play in supporting education to enhance rural marketing practices for transformative and sustainable development in Africa. The researchers adopted critical document review approach in their research. The study established that governments in developing countries are working hard to come up with relevant policies and legal frameworks to assist in the implementation of AI practices, but these have not been given sufficient recognition to rural marketing. The study further found that use of AI can be instrumental in enhancing teaching and learning, automating administrative tasks, and promoting personalized learning experiences in promoting agricultural marketing. Finally, the study revealed that while Kenya through the Ministry of education has been working with tech organizations to build teacher capacity in using AI effectively in schools, this is yet to have a significant impact especially on part of rural marketing practices. Rural areas continue to experience major challenges including poor infrastructure, lack of electricity and high levels of illiteracy.
Amel Trabelsi Elloumi, Charnez Elloumi
In open emerging economies heavily dependent on imports, the fight against inflation often confronts a major structural obstacle: a high "Sacrifice Ratio." This concept is characterized by an exorbitant cost in terms of lost output and unemployment for every percentage point of disinflation. Standard restrictive monetary policies appear insufficient to counter imported inflation (Exchange Rate Pass-through) when local production is rigid or absent. Addressing this deadlock, this article proposes a novel theoretical cross-analysis between macroeconomic price dynamics and contemporary entrepreneurship theories, specifically regarding spin-offs. By synthesizing recent literature on business dynamism (Akcigit, 2021) and price transmission (Amiti et al., 2019), we argue that spin-offs act as a catalyst for technical progress and productivity. By transforming the production function through innovation and skills transfer, they reduce long-run unit costs and immunize the economy against exchange rate volatility. The article theoretically posits that an active spin-off policy in key sectors constitutes a "positive structural supply shock" capable of mechanically lowering the sacrifice ratio.
Sara Mae M. Tom
This study explored the lived experiences of Licensed Professional Teachers (LPTs) in San Isidro, Davao Oriental who opted to work in the Business Process Outsourcing (BPO) industry rather than practice teaching. Specifically, it sought to identify the reasons behind their career decision and examine how these reasons affected their personal and professional identities. Employing a qualitative phenomenological research design, data were gathered from purposively selected participants through in-depth interviews and a focus group discussion and were analyzed using Ritchie and Spencer’s Framework Analysis. Findings revealed that the decision to work in the BPO industry was shaped by interconnected financial, employment-related, professional, social, and personal factors, including financial and socioeconomic pressures, barriers in teacher recruitment, anticipated burnout, negative work environment and societal perception, career opportunities outside teaching, and personal readiness and motivation. While teaching was still viewed as meaningful, BPO employment was perceived as more accessible, financially responsive, and manageable. The study further found that working outside teaching weakened participants’ teaching self-efficacy, created identity uncertainty, and reduced motivation to enter the profession. However, it also helped them develop communication skills, confidence, adaptability, and a broader sense of professional growth. The study concluded that choosing BPO did not necessarily represent a permanent rejection of teaching, but a practical and identity-shaping response to present realities. It was recommended that teacher education institutions and concerned education agencies strengthen post-licensure career guidance, employment assistance, and transition support for LPTs.
Ikechukwu A. Acha, Itoro M. Ikoh, Sylvanus Udoh
This study reassesses the role of external reserves in shaping Nigeria’s monetary policy independence within the framework of the policy trilemma, which highlights the inherent trade-offs among exchange rate stability, capital flow openness, and monetary autonomy. Using annual data from 1981 to 2023 and employing an Autoregressive Distributed Lag (ARDL) approach, the study explores how external reserves interact with exchange rate policies and capital mobility to influence Nigeria’s monetary autonomy. The study incorporates interaction effects to capture the conditional relationships between reserves and the other two legs of the trilemma. The model also incorporates key macroeconomic variables, including oil prices, inflation, financial development, and economic growth, to control for broader structural dynamics. Findings from the long-run analysis reveal that while external reserves are theoretically expected to enhance monetary policy independence, their effect is statistically insignificant, suggesting ineffective utilization. Exchange rate stability and capital mobility also show no significant long-run impact, indicating policy inconsistency and the limited effectiveness of Nigeria’s managed float regime and partial capital controls. Notably, oil price volatility emerges as the most significant determinant, with rising prices reducing the degree of monetary policy autonomy. Short-run dynamics reveal that reserves initially constrain policy independence but show a positive effect with lags, underscoring delayed policy transmission. Interaction terms between reserves and the trilemma components are also insignificant, suggesting that reserves have not functioned as a buffer against external constraints. Error correction estimates confirm that deviations from equilibrium are corrected rapidly, yet short-run dynamics reveal delayed and asymmetric policy effects. The findings underscore the need for a more coherent macroeconomic framework, improved reserve management, reduced oil dependency, and strengthened financial markets to enhance monetary policy independence in Nigeria.
Kessellie Traore Mulbah, Melissa Hawa Isabel Sackie, Monica D. Jones, Wang Guosong
We investigate how financial development, proxied primarily by private credit, bank deposits, and bank profitability, influences economic recession. We employ a logistic regression model with both country and time fixed effects, thereby controlling for unobserved heterogeneity across countries and global shocks over time. We found that financial development plays an important role in shaping macroeconomic stability, though its effects vary across country groups. In advanced economies, higher levels of private credit, stronger bank deposit bases, and higher bank profitability reduce the probability of recession, indicating that well-developed financial systems enhance economic resilience. Whereas the effects in emerging economies are less consistent, suggesting that rapid financial expansion may increase vulnerability to recession, reflecting weaker institutional frameworks and less mature financial systems. We also found a nonlinear relationship between financial development and the risk of an economic recession. While initial improvement in the financial system may not immediately reduce the severity of a recession, the stabilizing effects become more pronounced as financial systems deepen and become more efficient. However, the results from the 2SLS model indicate that the direct causal effect of financial development is limited once endogeneity is addressed, which underscores the importance of institutional factors. Moreover, our robustness checks addressing endogeneity suggest that the effectiveness of financial development depends heavily on institutional quality, governance, and the strength of the banking sector. These findings provide important policy insights for designing financial systems that support long-term economic stability and resilience.
Oke Oluwatosin Emmanuel
This study examined fiscal rules and budget deficit control in emerging economies, with evidence from Nigeria between 2023 and 2026. Rationale for the study was the persistent fiscal deficits in Nigeria despite formal fiscal regulations designed to ensure discipline and sustainability. The main objective was to assess effects of Fiscal Responsibility Act (FRA 2007) enforcement, adherence to public debt rules, and growth in government expenditure on budget deficit control during the study period. A descriptive research design was adopted, and secondary data were obtained from official government publications and international databases. Data were analyzed using descriptive statistics, correlation analysis, and multiple regression. Descriptive results indicated that the average budget deficit in Nigeria was 4.7 percent of gross domestic product, while government expenditure growth averaged 18.6 percent. The enforcement of FRA and compliance with public debt rules had moderate mean values of 62.4 percent and 58.9 percent, respectively, reflecting uneven application of fiscal rules. Correlation analysis revealed a negative relationship between FRA enforcement and budget deficit control (r = -0.61), and between public debt compliance and deficit control (r = -0.54), whereas government expenditure growth showed a strong positive relationship with budget deficits (r = 0.67). Regression results supported these findings, showing that FRA enforcement (β = -0.031) and public debt compliance (β = -0.027) significantly reduced budget deficits at the 5 percent level, while government expenditure growth (β = 0.089) significantly increased deficits. The model explained approximately 74 percent of variation in budget deficit control. Based on these findings, the study concludes that fiscal rules can effectively reinforce deficit control when enforcement is credible and expenditure growth is managed. Consequently, institutional enforcement and expenditure discipline should be strengthened to achieve fiscal sustainability in Nigeria.
Enongene Nkumbe
The transatlantic slave trade, spanning the 16th to the 19th Century, constituted a central component of early global capitalism by supplying coerced African labor to the Americas. While often treated as a pre modern institution, slavery is deeply integrated into the economic transformations that underpinned the Industrial Revolution. This study examines the role of slavery in the emergence of industrialization through close analysis of selected slave narratives, including works by Olaudah Equiano, Frederick Douglass, Solomon Northup, Henry Bibb, Mary Prince, and John Brown. These autobiographical accounts provide rich empirical evidence of labor practices, skill acquisition, and economic organization within plantation economies and beyond. Drawing on these narratives, the paper demonstrates how enslaved labor contributed to industrial growth in three key ways: the mass production of raw materials; the development of proto-industrial labor systems, such as task allocation and shift work; and participation in expanding sectors, including shipping and wage-based labor. Slave narratives reveal the extent to which enslaved individuals were embedded in systems resembling industrial production. Moreover, these accounts highlight how skills developed under slavery were later transferable to industrial settings, blurring distinctions between coerced and wage labor. By foregrounding narrative evidence, this study challenges conventional separations between slavery and industrial capitalism. It argues that the transformation of Africans into commodified labor was not merely a backdrop but a driving force in the rise of industrial economies. This perspective, therefore, repositions slavery as foundational rather than peripheral to modern economic development and invites further interdisciplinary research into its lasting consequences.
Andrew Ogunsakin, Ologunwa Oluyemi philip
This study empirically investigates the effect of governance quality on economic development in Nigeria. Using annual time-series data drawn from the World Bank's Worldwide Governance Indicators (WGI), World Development Indicators (WDI), and the United Nations Development Programme (UNDP), the study employs the Autoregressive Distributed Lag (ARDL) bounds testing approach to assess both long-run and short-run dynamics. Economic development is proxied by the Human Development Index (HDI), while governance quality is operationalised through government effectiveness (GEF), rule of law (RL), control of corruption (CC), and voice and accountability (VA). Control variables include education expenditure (EDEXP) and inflation (INF). Descriptive analysis reveals persistently negative governance scores throughout the study period, consistent with Nigeria's well-documented institutional weaknesses. Correlation analysis shows strong positive associations between all four governance dimensions and HDI (ranging from 0.619 to 0.715). Unit root tests confirm a mixture of I(0) and I(1) series, validating the ARDL framework. The bounds test confirms cointegration (F-statistic = 6.27 > upper-bound critical value of 4.03), establishing a stable long-run relationship. Long-run estimates show that GEF exerts the strongest positive effect (β = 0.274, p < 0.01), followed by RL (β = 0.218, p < 0.05), CC (β = 0.157, p < 0.05), and VA (β = 0.109, p < 0.10). Inflation negatively affects development (β = −0.028, p < 0.05). The error correction term (ECT = −0.512, p < 0.001) indicates a 51.2% annual speed of adjustment toward long-run equilibrium. Granger causality tests confirm unidirectional causality running from governance quality to economic development. The findings validate Institutional Theory and carry significant policy implications: sustained improvements in government effectiveness, rule of law, and anti-corruption enforcement are indispensable preconditions for Nigeria's long-term economic and human development.
Dr. Deepa Soni, Sourabh Pandya
The link between happiness and income has been widely studied, yet countries show different patterns as they grow. Higher income often improves people’s lives, but many findings also show that happiness does not rise at the same pace in richer nations. These varied results are often highlighted in debates like the Easterlin Paradox, which suggests that while happiness rises with income in the short run, it tends to stop increasing significantly, as countries move to higher income levels. This study examines the complex relationship between the income and happiness across 15 countries using data from the World Value Survey (1990-2022) and World Happiness Report (2012-2024). The research covers the time span of a 34-year period (1990-2024). The study applies linear regression models to analyse interlinkages between income and happiness for selected countries. The findings validate the Easterlin Paradox, demonstrating that the income significantly influences happiness in developing economies, while its effect shows diminishing nature in economically developed nations. The study reveals that high-income countries experience happiness saturation, where additional income growth contributes to minimal well-being gains, while middle and lower-income countries continue experiencing positive happiness trends which are tied to economic growth. These findings have significant implications for policymaking which further suggests that development strategies should evolve from income-centric approaches in emerging economies to major well-being frameworks in advanced nations, ensuring institutional quality, social trust, and economic security alongside income growth.
James Q. Grefalde, Raul P. Berdera Jr.
Small-scale fisheries are vital to coastal livelihoods, food security, and local economies, yet fisherfolk continue to experience unstable income due to seasonal catch variation, climate-related disruptions, changing market prices, rising operational costs, and dependence on intermediaries. This study examined the relationship between income volatility and market sustainability among registered small-scale fisherfolk in the First District of Surigao del Sur, Philippines. Using a quantitative descriptive-correlational design, data were collected from 442 registered fisherfolk selected through stratified proportional random sampling from a population of 17,625. A researcher-made questionnaire, validated by experts and pilot-tested with excellent reliability, measured income volatility in terms of seasonality of fishing income, frequency of income fluctuations, variability of earnings, and exposure to climate-related and environmental risks. Market sustainability was measured in terms of access to stable and reliable markets, price stability and bargaining power, continuity of buyers and market channels, and stability to sustain fishing livelihood over time. Descriptive statistics, Pearson product-moment correlation, and regression analysis were used to analyze the data. Findings revealed that fisherfolk experienced income volatility while maintaining a moderate level of market sustainability. Income volatility was significantly and positively related to all dimensions of market sustainability, with variability of earnings showing the strongest association with price stability and bargaining power. Regression results further indicated that income volatility significantly predicted market sustainability. The study concludes that sustainable market participation requires integrated interventions that stabilize income, strengthen bargaining power, expand market linkages, improve post-harvest systems, and build climate-resilient livelihood capacities. The proposed Fisherfolk Income Resilience and Market Sustainability Framework may guide local government units, fisheries agencies, fisherfolk organizations, and development partners.
Ahmad Faiz Abdul Halim, Noris Fatilla Ismail, Roziyana Jafri, Syahida Abd Aziz
The rapid pace of environmental degradation, the depletion of natural resources, and unsustainable production patterns have made it clear that we need a shift toward regenerative, resource-efficient economies. Even though policymakers around the world have started paying attention to this issue, the integration of Circular Economy (CE) principles into Green Economics (GE) is still fragmented and not fully developed. This study addresses that gap by systematically reviewing recent research, using Scopus AI-assisted analysis (March 2026) to uncover how CE and GE intersect, the main emerging trends, and directions for future research. By analysing peer-reviewed publications across economic, technological, and environmental dimensions, this study finds that CE integration strengthens sustainability by improving resource efficiency, turning waste into value, and fostering low-carbon innovations. Long-standing themes such as waste management and circular supply chains show that circular practices are becoming well-established, while newer trends like urban circular economies and bioeconomy models reveal how CE is expanding into cities, agriculture, and bio-based industries. Emerging intersections between CE and green finance or renewable energy supply chains are creating exciting opportunities for research at the crossroads of economics, sustainability, and technology. The study also highlights the importance of technology and policy in driving CE adoption. Tools like IoT, AI, blockchain, and Industry 4.0 technologies enable more efficient and traceable circular systems, while incentives like green taxes and subsidies encourage businesses to implement circular practices. From a theoretical standpoint, this research helps position circularity as a multidimensional concept in sustainable economic thinking. Practically, it offers actionable guidance for policymakers, businesses, and researchers to align CE strategies with the United Nations Sustainable Development Goals (SDGs). Finally, the study identifies quantitative analyses and cross-industry comparisons as promising paths for future research to better understand and implement circular approaches for sustainable growth.
Ng Wee Fern, Rohaya Abdul Jalil
Patent valuation plays a central role in determining the commercial potential of university-generated innovations. However, conventional valuation approaches often insufficiently account for risk and uncertainty, particularly in sectors characterized by long development cycles, regulatory complexity, and capital intensity. These limitations are especially evident in real estate-related innovations originating from universities, where multiple layers of uncertainty significantly influence value realization. This paper examines how risk and uncertainty can be systematically integrated into patent valuation practices for university-generated real estate innovations. Drawing on valuation theory and risk analysis literature, the study identifies key risk dimensions and analyzes how they affect the assumptions underlying cost-based, market-based, and income-based valuation approaches. Rather than proposing a new valuation model, the paper advances a structured risk-integration logic that enhances the robustness and transparency of existing valuation practices. The paper contributes to the literature in three ways. First, it deepens understanding of the role of uncertainty in patent valuation decision-making. Second, it provides methodological guidance for adapting valuation approaches to high-risk innovation contexts. Third, it offers practical insights for universities, investors, and policymakers seeking to improve commercialization outcomes in real estate innovation. The study supports more realistic valuation practices and strengthens the alignment between innovation risk and intellectual property management.
Gianmario Strappati
Internationalization can be considered the fundamental framework for the development and circulation of artistic products within the modern era. Political-economic systems, and their specific applications regarding the dissemination of creative works, have become central to the structure of the contemporary network. This interconnected system is characterized by its standardized, efficient, and homogeneous nature, supported by multisectoral variables and bidirectional channels of relevance. Within the arts, economic flows act as a centrifugal force that fuels the relationship between author and audience, while simultaneously serving as the analytical compass within the target market. By employing a hybrid research methodology, integrating qualitative insights with empirical data, this study establishes a nexus of inclusivity, scientific rigor, and flexibility within the field of economic and managerial applications of creativity. The primary objective is to elucidate the ultimate goals and operational mechanisms of these networks and interconnections, positioned at the intersection of globalized, economic, and creative perspectives. The findings indicate that internationalization represents a critical opportunity for the diffusion of artistic works; it facilitates the valuation of creative specificity while expanding toward new audiences and circulation pathways. Ultimately, systematic totality and specificity merge into an inclusive process of procedural reconciliation, laying the foundation for the unity of contemporary artistic praxis and its defining principles.
Arimiyau, Sekinat Olanike, Saheed Olurotimi Timehin
The governance crisis in Nigeria, and in Lagos State particularly, is frequently diagnosed in institutional, economic, and administrative terms. However, such analyses often overlook the ethical substratum upon which political systems ultimately rest. This paper argues that persistent deficits of corruption, leadership failure, civic disengagement, and public distrust are symptoms of deeper moral dislocation. Drawing on Islamic ethical philosophy (‘ilm al- akhlāq), Qur’anic governance principles, Prophetic political practice, and contemporary governance theory, the paper constructs a normative and operational framework for ethical leadership and responsible citizenship. It proposes a practical blueprint for Muslim political participation that moves beyond identity-based representation toward ethical transformation of governance culture. The study concludes that integrating Islamic ethical imperatives with modern governance mechanisms offers viable pathways for justice-centered, accountable, and participatory governance in contemporary Lagos.
Batirbek Artikbaev, Bobur Nasriddinov, Sinbad Kurbonov, Wang Guosong
This study investigates the relationship between Environmental, Social, and Governance (ESG) performance and firm market valuation using a panel of Chinese A-share listed companies over the period 2012 to 2022. In the context of increasing economic uncertainty and evolving sustainability requirements, the analysis explores whether stronger ESG engagement contributes to higher enterprise value. Employing a dataset of 1,500 firms, corresponding to 16,500 firm-year observations, and a two-way fixed-effects model that controls for firm-specific heterogeneity and time effects, the results reveal a consistently positive and statistically significant association between ESG performance and firm value. Further analysis indicates that this relationship is not uniform across firms. The valuation effect of ESG performance varies with ownership structure and firm size, with state-owned enterprises and smaller firms exhibiting relatively stronger ESG-related valuation effects. These findings highlight the importance of institutional and firm-level characteristics in shaping the economic consequences of ESG engagement. Overall, the study contributes to the growing literature on sustainable finance by providing robust evidence from the Chinese market and offers practical implications for investors, corporate managers, and policymakers seeking to integrate ESG considerations into decision-making processes.
Chomunorwa Rusakaniko, Taruona Douglas
The collapse of formal agriculture in Zvishavane Rural District has essentially reconfigured rural livelihood systems, pushing households to venture into informal and often precarious economic activities. The paper is fundamentally anchored in the Sustainable Livelihoods Framework (SLF). It sought to examine how agrarian decline, largely driven by land reform disruptions, macroeconomic instability, climate variability, and institutional weakening, has fast-tracked rural informalisation. This study employed the critical realism philosophy to explain the deep-seated structures and mechanisms driving the shift from formal agriculture to informal livelihoods. The abductive/retroductive approach complemented the philosophy whereby the authors moved between data and existing theory (SLF) to establish the most credible explanation for why informalisation in Zvishavane represents systemic livelihood displacement rather than a developmental transition. The study analysed livelihood pathways, asset dynamics, and the sustainability of informal activities using the mixed methods design combining household surveys (n≈197), key informant interviews, and focus group discussions. The findings reveal a marked shift from agriculture-based livelihoods towards artisanal and small-scale mining, informal trade, and natural-resource extraction. While these activities alleviate short-term income and food insecurity, they are predominantly coping-driven, characterised by asset erosion, ecological degradation, weak accumulation, and regulatory exclusion. Conceptually, the paper advances the SLF by theorising informalisation as a structurally induced process of livelihood displacement, sustained through asset erosion and predatory governance rather than adaptive diversification. The paper thus contributes to debates on rural transformation by demonstrating that informalisation in Zvishavane Rural reflects systemic livelihood displacement rather than a developmental transition. Policy responses must therefore move beyond livelihood promotion to address structural drivers of agrarian collapse, integrate informal livelihoods into rural development frameworks, and strengthen gender-responsive, climate-resilient agricultural and institutional systems.
Allan Gumisiriza, Ebunoluwa Akintibu, Marvellous Ododoh, Olufemi Daniel Olumuyiwa, Stella Olufunmilayo Egbelana
This study examined macroeconomic variables that influence foreign direct investments (FDI) into Sub-Saharan Africa (SSA). Within the context of pull factor theory, this study focuses on the effects of these variables using panel econometric models. Using an ex post facto research design, this study will use a panel of 10 SSA countries from 1990 through 2024. This study uses the exchange rate, inflation rate, private sector credit, and trade openness as the explanatory variables. The dependent variable for this study will be the FDI inflows. In order to identify the estimation model to use, a Hausman test will be performed on the panel data. Empirical findings show that the exchange rate, private sector credit, and trade openness are all positively correlated with FDI flows into SSA, whereas inflation is negatively correlated with the FDI flows into the region. This means that macroeconomic stability, growth in the financial sector, and trade openness boost the investment opportunities available in the SSA countries and attract foreign investment. Based on this study, it can be stated that maintaining macroeconomic stability is critical for improving FDI flows into the SSA. For this reason, the study recommends effective monetary and fiscal policies that control inflation and stabilize the exchange rate, among others.
Nasrah binti Naharu, Norfazillah binti Matmali, Norzanah Abd Rahman, Nur Aliyah Jazuli*
Housing affordability has evolved from a localised economic issue into a complex global crisis, threatening social stability and public health in both developed and emerging economies. Despite the growing volume of literature, there is a lack of comprehensive reviews mapping the intellectual structure of this field, particularly in how global trends apprise local policy contexts like Malaysia. This study employs a bibliometric analysis to evaluate 297 documents retrieved from the Scopus database between 1996 and 2025, utilizing VOSviewer and Biblioshiny for performance analysis and science mapping. The results identify a significant surge in academic interest following the 2008 Global Financial Crisis, with Housing Studies and Urban Studies emerging as dominant publication venues. Science mapping reveals three distinct thematic clusters which include governance and markets, focusing on the financialization of housing, social dimensions, linking affordability to poverty, homelessness, and health; and contemporary challenges, addressing urbanization, gentrification, and the impact of COVID-19. The findings suggest that the discourse has shifted from simple supply-side economics to a multidimensional understanding of housing as a social determinant of health. These insights provide critical implications for policymakers in emerging markets, emphasising the need to integrate public health and market regulation into national housing strategies.
Amelia Gonzales, Amelia T. Navejas, Ann Cicely Samar, Bryan Ray S. Solano, Jayvee U. Delos Santos, Jimmy T. Masagca, Ralph Lauren Alomia, Raymond J. Sucgang, Therese Jean A. Sarabia
Science-faith forums are increasingly recognized as informal institutions that influence environmental governance, especially in biodiversity-rich areas where social cohesion is strong. This study examines Mass for Creation and Biome 9: A Biodiversity Forum held near Nabaoy River in Malay, Aklan, as a case of faith-based environmental engagement with economic implications for biodiversity governance. Using a qualitative institutional economics approach and the World Café methodology, this study analyzes how the integration of religious celebrations and scientific dialogue influences environmental values, social capital formation, and nonmarket valuation of ecosystem services. Outputs from four World Café groups were synthesized to assess the outcomes of the forums. Results indicate strengthened norms of stewardship, enhanced multi-sectoral collaboration, and increased recognition of the long-term value of ecosystem services. These findings suggest that science-faith forums can complement formal environmental policies by lowering transaction costs and strengthening collective action for biodiversity conservation.
Adreena Natasya Ahmad Daud, Mohammad Fadzeli Jaafar, Mohammed Azlan Mis
Many studies in Malaysia have reported communication problem or a lack of fluency among foreign workers in Malay or English in the workplace. These issues have been examined using both qualitative and quantitative approaches across various employment sectors such as construction, services, and manufacturing. Overall, previous studies have consistently shown that the level of language fluency among foreign workers is weak. However, there is a lack of research that measures foreign workers’ fluency based on actual language use. Therefore, this study aims to measure the level of Malay language proficiency among foreign workers based on the CEFR framework. A total of 10 informants were interviewed through semi-structured open-ended interviews. The conversations focused on the informants’ work and personal environments. The study was conducted in Bandar Baru Bangi, Selangor. The findings indicate that the informants can be classified into two proficiency levels only: basic (A1 and A2) and intermediate (B1). At the basic level, informants were able to use basic vocabulary, respond to simple questions, and frequently made grammatical errors. Ar the intermediate level, informants were able to interact using simple sentences and appropriate discourse markers, although typical grammatical errors were still present. These findings provide preliminary insights into the Malay language proficiency of foreign woerks, particularly those from Bangladesh and Pakistan.
Musa Vincent Ogaji
Agriculture remains a critical driver of economic growth, employment generation, and food security in Nigeria, yet the sector continues to experience structural volatility and productivity challenges. Accurate modelling and forecasting of Agricultural Gross Domestic Product (GDP) are therefore essential for effective economic planning and policy formulation. This study examines the dynamic behaviour of Nigeria’s Agricultural GDP and evaluates the contributions of its major sub-sectors - crop production, livestock, forestry, and fishing - using the Autoregressive Integrated Moving Average with Exogenous Variables (ARIMAX) modelling framework. Annual time series data on Agricultural GDP and its sub-sectoral components were analyzed using modern time series econometric techniques. Preliminary statistical diagnostics, including descriptive analysis and unit root tests, were conducted to determine the stochastic properties and stationarity of the variables. Following differencing to achieve stationarity, alternative ARIMAX model specifications were estimated and evaluated using standard model selection criteria such as the Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC). The empirical results identified the ARIMAX(0,1,1) model as the most parsimonious and statistically adequate specification for modelling Agricultural GDP. The findings indicate that variations in Agricultural GDP are significantly influenced by short-run shocks and by the structural contributions of the agricultural sub-sectors, with crop production emerging as the dominant driver of sectoral output. Forecast results further reveal a sustained but moderate growth trajectory for Nigeria’s Agricultural GDP within the forecast horizon, suggesting continued sectoral resilience despite macroeconomic uncertainties. The study concludes that integrating sectoral sub-components as exogenous variables improves forecasting performance and provides deeper insight into the structural dynamics of agricultural output. Consequently, the study recommends strengthened investment in crop production systems, improved livestock productivity, and enhanced data-driven agricultural policy frameworks to support sustainable sectoral growth and national economic diversification.
Ermie Lux L. Matildo, John Albert A. Alzate
Monetary investment has become an increasingly relevant financial behavior among working millennials as they enter critical stages of income generation, wealth accumulation, and long-term financial planning. However, their investment participation is shaped not only by financial motivation but also by income limitations, digital information exposure, transaction costs, risk tolerance, and financial knowledge. This study examined the monetary investment engagement of working millennials in Tandag City, Philippines, particularly Bachelor of Science in Business Administration graduates of North Eastern Mindanao State University who were employed in the financial sector. Specifically, it described the respondents’ socioeconomic profile, assessed their level of monetary investments in terms of investment information sources, investment channels, investment objectives, risk tolerance, and financial knowledge, identified the problems they encountered in investing, tested significant differences in investment dimensions when grouped by profile variables, and determined the relationship between monetary investments and investment-related problems. A descriptive quantitative research design was used. Data were gathered from 319 respondents using an adapted and locally modified questionnaire based on Veluchamy’s investment behavior instrument. The questionnaire was validated by experts from banking, insurance, and academe, yielding a validity mean of 4.20, while reliability testing produced a Cronbach’s alpha of 0.88. Results revealed that working millennials had a high level of monetary investment engagement, with investment objectives rated very high and investment channels receiving the lowest but still high rating. Respondents strongly encountered investment-related problems, especially irrelevant information, high transaction and maintenance charges, difficulty accessing updated information, lack of transparency, and difficulty finding trustworthy advisors. Significant differences were observed in selected investment dimensions when grouped according to age, gender, marital status, and monthly income. Monetary investment engagement and problems encountered were significantly and positively related. The study recommends income-sensitive, digitally grounded, and transparency-oriented investment literacy interventions for working millennials.
ABRAHAM Unekwu, NWODO, Nkem Wilfred, OBANI, Chimaobi Desmond, ONIGAH Peter Oko
The research investigates how oil revenue affects Nigeria's Human Development Index from 1999 to 2024 by examining three main HDI factors which include per capita income and health results and educational funding. Nigeria needs to comprehend how its oil wealth contributes to human development because the country depends on oil revenue which generates more than 90 percent of its export income and 60 percent of its government funds. The study fills existing research gaps by showing that HDI assessments need to consider multiple dimensions rather than using economic measures which include GDP and poverty rates. The research uses an ARDL model to analyze time-series data from Central Bank of Nigeria and UNDP and WHO and UNESCO because the existing research lacks modern econometric methods and uses outdated information. The study demonstrates that oil revenue has a positive and significant impact on both per capita income and total HDI but it does not boost healthcare spending or educational budgets. The mixed effect demonstrates how resource management runs inefficiently while some regions receive less resources, which confirms certain elements of Resource Curse theory. The recommendations call on policymakers to enhance their fiscal distribution processes through improved transparency while they should increase their health and education investments and implement strategies to diversify their economic activities. The research deepens knowledge about how oil revenue affects human development in Nigeria through its use of current data and strong modeling techniques to study oil revenue effects. The study provides essential information which helps to combat the resource curse while supporting balanced economic development.
Aprilyn Denampo Felipe, Dr. Linda Cangayao
Inclusive education has emerged as a core focus of basic education reform, yet many schools continue to face challenges in building effective collaboration with local government units (LGUs). These difficulties often result in fragmented service delivery, uneven policy execution, and inconsistent support for learners with diverse needs. Although national mandates such as the Inclusive Education Act and decentralisation frameworks seek to empower local actors and strengthen school–LGU partnerships, there remains limited empirical understanding of how stakeholders actually perceive the opportunities, barriers, and responsibilities involved in inclusive governance—particularly within local Philippine contexts. This lack of grounded insight constrains the development of practical, context-responsive frameworks that could improve inter-agency coordination and implementation. To address this gap, the present study adopted an explanatory sequential mixed-methods design to examine perceptions of inclusive education governance in Valenzuela City. The first phase surveyed 96 stakeholders—including local officials, school heads, teachers, and parents—using validated quantitative instruments measuring perceived opportunities, challenges, and roles. Findings revealed strong agreement on existing opportunities (M = 3.35, SD = 0.54), moderate acknowledgment of system challenges (M = 2.59, SD = 0.87), and high endorsement of stakeholder roles (M = 3.27, SD = 0.60), with significant differences observed only in perceived roles, where teachers reported lower involvement than officials and parents. The qualitative phase added explanatory depth, uncovering themes such as shared service delivery, inclusive infrastructure, role ambiguity, and sustainability concerns. These integrated insights informed the development of the Proposed Inclusive School–Local Governance Collaboration Framework, a structured and evidence-informed model designed to clarify stakeholder roles, strengthen inter-agency coordination, and enhance inclusive education governance across schools and LGUs.
Greg Ekpung Edame, Inaku, Jacob Sunday, Inyang Inyang Ochi, Muhammad Kabir Lawal, Nweze, Paul Nweze, Ogbe, Blessing Akong, Osunkwo, Esther Chika
The banking industry in Nigeria is quite competitive and the number of players in the Banking industry is relatively large. This makes the firms in the sector to continually create, implement, assess and improve on strategies so as to increase its profitability rate and have a sound liquidity management. In view of this, this study examined the profitability and liquidity management of deposit money banks in Nigeria using data for the period 1991 to 2020 and the Autoregressive Distributed Lag (ARDL) bounds testing approach. The study made use of Returns on assets and returns on equity as the dependent variable, interest rate, inflation rate, minimum rediscount rate, liquidity ratio, cash reserve ratio, and monetary policy rate as independent variables. The results indicated that profitability as a result of returns on assets and returns on equity is stable. It also shows that the coefficient of the intercept is positively signed and statistically significant and a unit increase in returns on assets and returns on equity variables would lead to a 14.01273 increase in the bank profitability. Furthermore, all the variables are also statistically significant with INT, CRR, MDR, LR, and MPR having a positive relationship with returns on assets and returns on equity while INF have negative relationship. Based on the results obtained, the study recommended that more areas of reforms that will help qualify more Nigerian banks for profitability should be given adequate attention
Dominic Osborne, Lukasz Bikowski
This paper examines how data-driven marketing restructures consumer knowledge in the digital economy. At the micro level, recommendation systems, personalization, and dynamic pricing alter how consumers perceive options, make decisions, and learn about markets. At the meso level, firms adopt algorithms as infrastructures of knowledge production, embedding predictive models into strategy and innovation. At the macro level, platforms and regulators define the rules of visibility, accountability, and access, shaping the distribution of knowledge across economies. Case illustrations of Netflix, Amazon, Alibaba, and fintech platforms show how these mechanisms operate in both developed and emerging markets, revealing tensions between efficiency and fairness, autonomy and personalization, and innovation and inequality. The paper argues that data-driven marketing should be seen not only as a set of commercial techniques but as an epistemic force that reshapes what can be known, who controls knowledge, and how markets evolve.
Olubiyi Isaac OLADOSU, Victor A. OSAI, Victor AKIDI
Following the Infrastructure-Led Development theoretical taught path that, provision of suitable infrastructures are catalysts for inclusive growth through enhanced real economic activities; thus, associated with the profound problem of infrastructure conditions and inclusive growth in Nigeria, this study examines the impacts of Nigeria’s education, health, road & construction, transport & communication, and energy infrastructure investments as socio-economic infrastructures on gross domestic product per person employed as inclusive growth indicator. Yearly secondary data from 1988 to 2023 were gathered from the 2023 Statistical Bulletin of the ‘Central Bank of Nigeria, the National Bureau of Statistics, and the Development Indicators of the World Bank’. Applying the ‘Autoregressive Distributed Lag (ARDL)’ processes, the produced evidence showed palpably that, except investment in transport & communication infrastructures which exerted short-run positively insignificant impact, and long-run directly significant impact on inclusive growth, investments in education, health, road & construction, and energy infrastructures exhibited positively significant short-run and long-run impacts on Nigeria’s aggregate domestic output per person employed over the sampled period. This, necessitated the conclusive highlight that socio-economic infrastructures development are pivotal pathways for driving real economic activities to enhance inclusive growth in Nigeria. Therefore, the study emphasized that to prop up inclusive growth in Nigeria, public sector expansionary allocative policy for improved education, health, road and construction, transport & communication, and energy infrastructures should be given purposeful consideration.
Khac-Nghia Nguyen, Van-Hoa Vu
This paper examines the role of state capacity in the development of Vietnam’s automobile industry from the perspective of developmental state theory. It argues that the Vietnamese state functions as the central actor in shaping the industry through strategic planning, industrial policies, and selective intervention toward multinational corporations (MNCs), domestic firms, and consumers. Using a qualitative political economy approach, the study analyzes four key dimensions of state capacity: developmental purpose, policy instruments, empowerment, and dependence. The findings show that Vietnam’s automobile development has evolved through three major stages. The first stage was characterized by an MNC-driven strategy in which foreign automobile corporations were expected to provide capital, technology, managerial expertise, and integration into global production networks. However, limited technology transfer and low localization rates prompted the state to shift toward a second stage focused on domestic firm-driven development. In this phase, the government increasingly supported national champions such as THACO, TC Motor and VinFast to strengthen industrial self-reliance and technological capability. A future third stage may involve a more consumer-oriented development model associated with rising middle-class demand and pressures for lower automobile prices. The study concludes that Vietnam’s automobile industry reflects a quasi-developmental state model in which strong state intervention coexists with market mechanisms and global integration. Despite significant progress, major challenges remain, including technological dependence, weak supporting industries, low localization rates, and policy inconsistency.
Abdelkader Djeflat, Younes Ferdj
In the context of economic diversification in resource-dependent economies, statistical surveys play a strategic role in transforming dispersed information into structured knowledge that supports competitive development. This study examines the contribution of statistical surveys to the knowledge economy within Algeria’s agri-food sector, using a field survey of 110 SMEs in the province of Blida. Beyond descriptive analysis, the study applies inferential statistical methods, including Chi-square tests and logistic regression modeling, to identify structural relationships between managerial human capital, territorial knowledge infrastructure, and sectoral specialization. The findings reveal a statistically significant association between education level and participation in technologically intensive agri-food activities. Logistic regression results further confirm that higher education, accumulated sectoral experience, and proximity to research laboratories significantly increase the likelihood of technological upgrading. These results demonstrate that statistical surveys function not merely as data collection instruments but as institutional mechanisms enabling rational decision-making, territorial intelligence, and competitive positioning. The study contributes to the literature on knowledge-based development by empirically linking micro-level firm characteristics to broader structural transformation processes in Algeria’s agri-food economy.
Anna-Mae A. Orpiada, Dr.Jennifer S. Rubio
This study aimed to determine the Strategy Adaption of Handicraft Businesses in the Bicol-speaking town of Camarines Norte as the basis for an Intervention Plan. Specifically, it answered the following questions: What is the profile of handicraft businesses in terms of: number of years in operation; business assets; and number of workers. This study also determined the level of Adaption of business strategies of handicraft businesses in terms of: Capital accumulation, labor supply; and technological process. This study utilized quantitative method using descriptive - correlational design. Purposive sampling was employed in this study. Furthermore, a survey questionnaire was used to gather all the pertinent data for this study. The study used a survey questionnaire as the main tool in the collection of the needed data. The indicators were adopted from the information gained from different sources and were modified by the researcher with the help of the experts in the field comprised of the thesis advisory. The study employed the following statistical treatment: Frequency distribution, percentage, weighted mean, and Somer's Delta Correlation Coefficient. Findings reveled that Majority of the respondents have 11 to 15 years in operation and on the Level of adaption on business strategies of handicraft businesses along capital accumulation is the business maintains optimum working capital, while along labor supply the highest is the workers explore career growth and opportunities in craft making, and lastly along the technological process is Infusing of new strategies to improve the quality of the product. The researchers recommend Handicraft business owners can enhance their growth by engaging in scaling initiatives like exploring new markets, preparing for export, or adopting digital technologies, as most of these enterprises are already in a mature stage of development and. Intervention plan was also proposed to address the challenges encountered by the handicrafts business operations.
Amir Ali Sheikh
The gig economy has emerged as a transformative employment model across India, offering flexibility, income diversification, and platform-based opportunities. However, in Assam, its sustainability remains uncertain due to structural, policy, and socio-economic constraints. The state’s gig sector is still at a formative stage, with participation largely concentrated in urban centers, while rural areas face exclusion because of inadequate digital infrastructure and low digital literacy. Moreover, gig workers in Assam lack access to social security, minimum wage guarantees, and grievance redressal mechanisms, leaving them vulnerable to exploitation and economic instability. Sustainability of the gig economy in Assam requires a comprehensive policy framework that integrates infrastructure development, skill enhancement, and worker protection. Strengthening broadband connectivity and mobile penetration is essential to expand gig opportunities beyond urban hubs. Higher education institutions must embed gig-oriented skill development into curricula, preparing youth for flexible and freelance careers. At the policy level, localized implementation of India’s Code on Social Security (2020) is critical to ensure health insurance, pension, and accident coverage for gig workers. Additionally, state-specific regulations mandating aggregator accountability, fair wage practices, and contributions to welfare funds can safeguard worker rights. Awareness campaigns and targeted subsidies for digital tools can further encourage participation, while tax incentives for gig platforms expanding into Assam may accelerate adoption. By balancing innovation with regulation, Assam can transform its gig economy into a sustainable, inclusive, and equitable employment ecosystem. This research underscores the need for coordinated action between government, educational institutions, and private platforms to ensure long-term viability of gig work in the region.
Abdul Jalil Omar, Marlina Mohamad, Nur Irdina Fatini Abdul Halim
This study examines sustainable resource management practices at Universiti Tun Hussein Onn Malaysia (UTHM), identifies factors affecting their implementation, and proposes improvement strategies. A mixed-methods design was employed: an online questionnaire completed by 139 respondents (students and staff) and semi-structured interviews with representatives from the Sustainable Campus Office (SCO) and the Development and Maintenance Office (PPP). Triangulated analysis indicates that while UTHM has implemented multiple sustainability initiatives, effectiveness varies across domains. Senior-management support, campus community awareness, and stakeholder collaboration emerged as key enablers; policy alignment, infrastructure and financing, and performance monitoring were identified as areas requiring strengthening. Based on these findings, the study recommends reinforcing institutional policies and KPIs, adopting and scaling green technologies (e.g., energy monitoring and storage systems), and enhancing communication and incentive mechanisms to boost stakeholder engagement.
Renato Banze
Technological innovation and participation in Global Value Chains (GVCs) jointly shape the competitiveness of high-tech manufacturing in an era defined by digital transformation, technological convergence, and the reorganization of global production networks. This study develops and empirically validates a comprehensive analytical framework linking technological innovation, GVC integration, and industrial competitiveness, and embeds the analysis within the broader agenda of sustainable industrial transformation. Drawing on a balanced panel of 30 economies from 2005 to 2024, we apply two-way fixed-effects regressions, mediation tests, and moderation analyses to examine both the direct and indirect pathways through which innovation influences competitiveness. The findings show that technological innovation exerts a positive and significant effect on high-tech manufacturing competitiveness by raising productivity, lifting product sophistication, and improving cost efficiency. GVC participation enhances competitiveness directly and partially mediates the innovation–competitiveness relationship by facilitating technology transfer, international knowledge diffusion, and functional upgrading toward higher-value segments. Institutional quality and absorptive capacity moderate these effects, amplifying the returns to innovation where governance and human-capital systems are stronger. Marked structural heterogeneity emerges between advanced and emerging economies: innovation yields higher marginal benefits when embedded in mature institutions, while GVC integration is the principal learning channel for catching-up economies. Four firm-level case studies (Intel, Huawei, Samsung, Siemens) corroborate these mechanisms. The results offer strategic guidance for policymakers seeking to strengthen innovation ecosystems, deepen GVC engagement, and sustain competitiveness in an evolving digital and sustainable industrial landscape.
Đỗ Thị Tý, Nguyễn Công Toại
Amid the rapid pace of digital transformation in manufacturing enterprises, the adoption of Artificial Intelligence (AI) and Big Data is increasingly expected as a strategic approach to improving labor management efficiency. However, the mechanisms through which these technologies influence labor norm systems remain insufficiently clarified. This study seeks to examine how AI adoption, Big Data analytics capability, data quality, digital system integration, and human resource capability affect the effectiveness of labor norm systems, with data-driven decision-making capability serving as a mediating variable. A quantitative research design was employed, drawing on survey data collected from 350 manufacturing enterprises and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that technological and data-related factors positively contribute to strengthening data-driven decision-making capability. In turn, this capability exerts a significant impact on the effectiveness of labor norm systems. The results also confirm a partial mediating role of data-driven decision-making capability, although human resource capability does not demonstrate statistical significance in certain relationships. This study contributes to the literature by clarifying how technological investments are translated into organizational value through the development of internal capabilities. It also offers managerial implications, emphasizing the importance of synchronizing AI implementation, Big Data analytics, and decision-making competencies to enhance the performance of labor norm systems in manufacturing enterprises.
Safaa El Hatimi
This study examines whether the ASEAN-China Free Trade Area (ACFTA) promotes economic growth among ASEAN member states and whether export diversification mediates this relationship. Drawing on New Trade Theory, Product Space Theory, and Endogenous Growth Theory, we employ Baron and Kenny's (1986) mediation framework within a two-way fixed-effects panel regression across 10 ASEAN countries over 2003–2023 (N = 210), supplemented by the Sobel (1982) test and a cluster bootstrap (1,000 replications). At the aggregate level, ACFTA exerts no significant effect on growth (β = 0.463, p = 0.612), no significant effect on export diversification (β = −0.025, p = 0.383), and mediation is rejected: Sobel indirect effect = −0.114 (z = −0.376, p = 0.707), bootstrapped 95% CI [−1.126, 0.401]. These null results conceal profound development-stage heterogeneity: middle-income ASEAN countries derive a significant annual growth premium of 0.881 percentage points (p = 0.087), strengthening to 1.233 pp (p = 0.007) under a lagged specification that rules out reverse causality. Governance effectiveness is marginally negatively associated with export concentration (β = −0.109, p = 0.081), revealing an institutional diversification channel. Temporal analysis reveals monotonically diminishing structural adjustment costs consistent with J-curve dynamics, and FDI emerges as the most robust growth determinant throughout. This study contributes the first formal mediation test for ACFTA and the first bootstrapped indirect effect estimation in a panel fixed-effects mediation context for this agreement.
Ha Minh Hieu, Pham Thi Anh Thu
Effectively manage the supply chain with an important step forward model that enhances competitive advantages for businesses. Therefore, the research objective is to identify the components of the supply chain reference model (SCOR) including: Planning; Purchase; Manufacture; Distribution; Recall impacts supply chain efficiency. The study uses qualitative combined with quantitative methods, using 5-point Likert scale and linear structural model analysis (SEM) for analysis. The research results show that the SCOR model components such as planning, purchasing, production, distribution and collection have an impact on the efficiency of supply chain management, thereby helping enterprises to manage and operate the supply chain. appropriate solutions to enhance the competitiveness of enterprises.
Sanni Adijat Tope
Background: The escalation of hostilities between the United States, Israel, and Iran in late February 2026 triggered significant volatility in global energy markets, with particular implications for oil-importing and oil-exporting developing nations. This study employs quantitative scenario modeling to assess the potential macroeconomic outcomes for Nigeria's deregulated economy under varying oil price trajectories resulting from the Iran-US crisis. Methods: A quantitative scenario analysis framework was developed incorporating three primary transmission channels: energy price volatility, financial market dynamics, and global supply chain disruptions. Three oil price scenarios were modeled: Baseline (low-impact, $85/barrel), Moderate Shock (medium-impact, $105/barrel), and Severe Shock (high-impact, $125/barrel). Macroeconomic outcomes were projected using a simplified economic model incorporating fiscal revenue, inflation, exchange rate, and growth impacts. Sensitivity analysis was performed to assess robustness of findings. Results: Under the Moderate Shock scenario, crude oil prices reaching $105/barrel would generate ₦3.8 trillion in additional fiscal revenue compared to the 2026 budget benchmark of $64.85/barrel. However, domestic petrol prices would rise from ₦774 to ₦1,175 per litre, increasing headline inflation by 4.2 percentage points. The Severe Shock scenario ($125/barrel) would yield ₦6.2 trillion in windfall revenue but would push petrol prices to ₦1,330 per litre, with inflation increasing by 6.8 percentage points and GDP growth slowing by 1.4 percentage points. Under all scenarios, the positive fiscal impact is partially offset by existing forward sale agreements committing 26% of projected crude production to external lenders. Without targeted intervention, the crisis would increase the poverty headcount by 2.1–3.8 million people. Conclusion: The Iran-US crisis presents Nigeria with a classic resource paradox: potential fiscal gains from higher oil prices are offset by immediate welfare costs from imported inflation. Quantitative scenario analysis reveals that under moderate shock conditions, ₦3.8 trillion in windfall revenue could be used to implement targeted stabilization measures, cushioning household impacts while preserving fiscal gains. Policy recommendations include deploying 30% of windfall revenues to time-limited fuel subsidies, 40% to infrastructure investment, and 30% to reserve accumulation.
Shannon, Z. Chen
Biologics are a class of drugs with complex molecules that generally come from living organisms (ex: bacteria, yeast, animal cells), which is what makes them very difficult and expensive to obtain (https://www.fda.gov/drugs/biosimilars/overview-health-care-professionals). According to the IQVIA Institute for Human Data Science’s The Use of Medicines in the U.S. 2024 report, biologics only made up 5% of prescribed drugs in the US, yet contributed to more than 50% of the country's total prescription drug spending (Aitken et al., 2024). To avoid these extreme costs, patients may instead opt for a biosimilar, a kind of biologic drug that is highly similar to an existing biologic. These biosimilars can only be developed and sold after the patent for the original biologic expires, and are on average 60% cheaper than their original biologic (https://www.who.int/news/item/13-02-2025-biosimilars--expanding-access-to-essential-biologic-therapies). Crucially, substituting biologics for cheaper biosimilars helps those in need gain access to important medicines. Within the next decade, 118 biosimilars are expected to lose their patent protections, allowing hundreds of new biosimilar medicines to enter pharmaceutical markets (Aitken et al., 2025). It is currently vital to fully understand how they impact biologic prices. This paper hopes to identify the real effect of patent protection loss on biologic markets. Biosimilar introduction is expected to drive down biologic prices since when competition is introduced, manufacturers should lower prices in order to remain relevant in their markets. Therefore, the hypothesis is that biosimilar entry drives biologic prices down. In reality, however, executive decision making is influenced by factors such as market monopolies and individual ideals, rendering theoretical predictions imprecise. This paper examines the real-world impact through the case studies of Genotropin and Humira, two widely used biologics, as biosimilars entered their respective markets. The prices of the biologics were observed over time, considering an intervention point of biosimilar entry. Determining prices is beneficial for understanding markets, as it reflects the market equilibrium (Banton, 2025). Price trends were examined using Medicaid’s State Drug Utilization Data, and the National Average Drug Acquisition Cost, respectively. This allowed for reliable comparison over time, an approach made necessary by the limited availability of continuous pricing data for most biologic drugs across both databases.
Cao Pu, Doris Padmini S Selvaratnam
Work-life balance (WLB) policies are increasingly discussed as a lever for human resource sustainability, but evidence is often fragmented for small and medium enterprises (SMEs) in emerging markets. This paper synthesizes publicly available official statistics to situate the workforce sustainability challenge in Malaysia’s MSME sector. MSMEs accounted for 37.4%–39.1% of Malaysia’s GDP and 47.8%–48.5% of total employment during 2021–2023, indicating that retention and well-being risks in MSMEs have macro-level consequences (DOSM, 2024a; DOSM, 2023). Complementary official releases show that average weekly hours worked remain high in key sectors, reaching around 44.5–47.6 hours per week in late 2023 and early 2024 (DOSM, 2024b). Together with industry reporting on the difficulty of retaining talent, these patterns support the policy relevance of practical WLB bundles (flexibility, predictable scheduling, leave clarity, and workload safeguards) as part of sustainable HRM in resource-constrained SMEs.