Impact of Foreign Remittances on Ghanaian Economic Growth: An Assessment of the Mediating Role of Mobile Phone Technology | Chapter 8 | Business, Management and Economics: Research Progress Vol. 7

The aim of the study was to investigate how remittance inflows affect economic growth while taking the mobile phone technology's mediating function into account. Ghana was the subject of the 46-year study, which ran from 1975 until 2020. The Ordinary Least Square regression model was employed in the investigation. The findings showed that remittance inflow had a small but negative impact on economic growth in the absence of the interaction effect. The analysis finds a strong positive correlation between the introduction of an interactive term (mobile phone technology) and economic growth. Mobile Phone Technology showed a strong positive correlation with economic growth, but remittances showed a negligible positive correlation. According to the study, life expectancy, exchange rates, and foreign direct investment (FDI) are the main factors influencing economic growth. The study's findings indicate that in order to maximize the benefits of foreign remittances on economic growth, policymakers should establish a suitable technological framework for their management and utilization. This will improve financial inclusion, lower transaction costs, and encourage the effective use of funds.

 

Author (s) Details

Ibrahim, Zubairu
Department of Accounting & Finance, Accra Technical University, Accra, Ghana.

 

Marim Alenezi
Department of Accounting & Finance, College of Business Administration, Prince Mohammed Bin Fahd University, Saudi Arabia.

 

Ahmed Jamal Iddrisu
Department of Banking & Finance, University of Professional Studies, Accra, Ghana.

 

Essel Francis Amankwanor
Department of Accounting & Finance, Accra Technical University, Accra, Ghana.

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v7/2802

Examining the Factors Influencing Foreign Direct Investment: Evidence from Sudan | Chapter 3 | Business, Management and Economics: Research Progress Vol. 7

Sudan, as one of many developing countries, has increasingly addressed FDI as a means of economic development as well as for the stimulation of income growth and employment opportunities. Instead of leveraging self-savings, Sudan is mostly dependent upon foreign financing and domestic borrowing to ensure financial inflow, in order to budget and balance its payment deficits. This chapter examines foreign direct investment (FDI) in the context of Sudan during the period 1990–2020. The bounds-testing method of cointegration and the error correction model have been employed. Annual data from 1990 to 2020 on six macroeconomic indicators (e.g., real GDP, exchange and inflation rates, domestic investment, openness of trade, and FDI) were utilized in this research, including time series data obtained from the Central Bank of Sudan, the Ministry of Investment, and Central Bureau of Statistics. This research applied a model that assesses how various types of selective variables impacted the attraction of FDI to Sudan between 1990 and 2020. As per the results, it can be understood that the variables considered for the study are combined on a long-term basis if FDI remains a dependent variable. Further, a significant equilibrium correction was found, which supports the existence of a long-term relationship. A number of internal and external factors, especially gross domestic product (GDP), investment/GDP, trade openness, inflation, exchange rate, and growth rate were found to impact the state of FDI in Sudan. The variables showed no causalities as per the outcomes of the Granger causality test. Moreover, as per the variance decomposition results, the forecast error variance of FDI, in addition to that of GDP, investment/GDP, and inflation, was found to be self-explanatory. Additionally, as per the impulse response functions, the results demonstrated a short-term negative association between GDP and FDI, suggesting that Sudan possesses inadequate absorptive capacity for promoting its economy using FDI. The results of this research emphasized how selective public policies can be utilized to promote FDI and consequently facilitate short- and long-term economic growth. Therefore, it is useful to recommend some policy implications to promote the application of FDI in Sudan. A dynamic, attractive domestic environment should be created through the implementation of relevant policies; FDI must be supported by a hospitable regulatory framework, a large market, and a favorable economic environment, and ensure that the economy is stable and that the investment climate is attractive. Some sectors should also be prioritized in investments, such as agriculture-based industries, transport, communications, renewable energy, and digital transformation in government services, as well as financial and banking industries.

 

Author (s) Details

Mohamed Sharif Bashir
Applied College, Imam Mohammad Ibn Saud Islamic University, Riyadh, Saudi Arabia.

 

Ahmed Abdu Allah Ibrahim
Faculty of Economic and Social Studies, Al-Neelain University, Khartoum, Sudan.

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v7/2844

The Impact of Devaluation on Trade Balance in the Sudanese Context | Chapter 2 | Current Topics on Business, Economics and Finance Vol. 8

 The most of developing frugalities endeavor to achieve a business surplus by increasing exports over imports. Devaluation is regarded all at once way for a country to reach trade surplus, particularly by increasing the price of imports in the household country while reducing that of exports. The purpose concerning this chapter search out identify the primary financial variables that impact the trade balance of Sudan. Particularly, it reviews how Sudan’s mutual trade balance was jolted by exchange rate changes, revenue, and supply of money between 1970 and 2020. To review how bills devaluation jolted Sudan’s trade balance accompanying its basic partners, a cointegration approach and wrong correction method were used to expand the empirical model for this study. According to the bounds test, the variables of interest are interlacing in the long-run. The significance of the befriended equilibrium fixing supports the presence of a long-run connection. Furthermore, variance decomposition was executed to examine the active interactions of the variables contained in the estimated model. According to the results of the difference decomposition, changes in foreign earnings are a major contributing determinant in the forecast error difference of the trade balance in the not around for long. By contrast, in comparison accompanying other variables, the household money supply is very influential on trade balance in the long-run. One of the key verdicts of this study displays that the devaluation of Sudan’s cash does not represent solid progress toward enhancing the rank of its trade balance.

Author(s) Details:

Ahmed Abdu Allah Ibrahim,

Faculty of Economic and Social Studies, Al-Neelain University, Khartoum, Sudan.

Mohamed Sharif Bashir,

Applied Faculty, Imam Mohammad Ibn Saud Islamic University, Riyadh, Saudi Arabia.

Please see the link here: https://stm.bookpi.org/CTBEF-V8/article/view/11328