China's Digital Finance Revolution: Boosting Consumption Levels and Structures | Chapter 24 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

The upgrading of residents' consumption is the key to driving economic development towards high quality, and the promotion of a further increase in the level of China's residents' consumption is conducive to the normal functioning of China's economic internal cycle and is also an important driving force for the high-quality development of the economy. However, with the epidemic, international geopolitics and other environmental impacts, China's residents have undergone major changes in consumption, the trend of expanding the scale of consumption is prominent, and consumption continues to improve the quality of upgrading, the transformation trend is obvious. In-depth study of digital finance how to promote the level of upgrading of residents' consumption, and explore its relevant impact path, so as to establish an effective promotion mechanism for residents' consumption, not only can provide strong support for China's sustained economic growth, but also meet the needs of our people for a better life.

This study investigates the influence of digital finance on the consumption level and structure in China using a panel data analysis approach from 2011 to 2020. The methodology encompasses the construction of regression models to examine the direct and indirect effects of digital finance on consumption patterns and levels. The findings indicate that while digital finance significantly enhances the consumption level of Chinese residents, it also reshapes the consumption structure, leading to a more diversified allocation of consumer expenditures. The positive impact on consumption level is attributed to increased financial inclusion and accessibility, enabling broader participation in the digital economy. Conversely, the negative impact on consumption structure is due to the shift towards online transactions and digital services, which may reduce spending on traditional goods and services. These insights are crucial for policymakers aiming to harness digital finance for balanced economic growth and consumption upgrading.

 

Author (s) Details

Jinfang Li
Shexian Hezhang Township Government, Handan, 056400, China.

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH24

An Empirical Analysis of the Nexus between Foreign Direct Investment and Economic Growth in Tanzania | Chapter 10 | An Overview on Business, Management and Economics Research Vol. 6

 This stage investigates the causal relationship betwixt foreign direct investment (FDI) inflows and financial growth in Tanzania during 1990–2020. Because financial development and business were not included in extant studies, we received the two variables as intermediate variables by way of their intermediation role in the relationship 'tween inward FDI and economic growth. We acquired yearly data on Tanzania’s GDP, FD, work (TRD), and net FDI during 1990–2020 from World Bank Group and OECD Ethnic Accounts data files. Neoclassical progress theories claim  that FDI enhances financial growth by augmenting authorized capital stock and technology. This study employed the autoregressive delivered lag model and Granger origin tests to analyze the relationship. The results display that there exists a long-run friendship among the variables under consideration in Tanzania. Furthermore, the results show a long- and short-term positive and statistically meaningful unidirectional causal relationship middle from two points FDI inflow and Tanzania's economic progress. Hence, this chapter decided that Tanzania should emphasize FDI-led development policies while strengthening allure internal conditions, to a degree financial and human capital development, to improve economic growth and accomplish the desired economic goals. Moreover, future research should contain other pertinent variables in a scheme of equations where additional economic variables can also decide the nexus between FDI inflows and business-related growth.

Author(s) Details:

Benedict Huruma Peter Mwakabungu,
Department of Economics, Gujarat University, India.

Jignesh Kauangal,
Shree Narayana College of Commerce, Ahmedabad, India.

Please see the link here: https://stm.bookpi.org/AOBMER-V6/article/view/12796

The Role of Institutional Quality in Financial Development: An Approach towards Emerging Economies | Chapter 10 | Current Topics on Business, Economics and Finance Vol. 8

 This division explores the role and significance of institutional condition in promoting financial happening in emerging savings. Institutional quality and financial growth are important pillars of tenable economic development. The quality of these institutions, that serve as the basic foundations of financial incident, is one of the key factors doing their performance. Socioeconomic, enlightening, religious, and corrupt factors are all contained in the definition of uniform quality, along with governmental stability, government influence, the voice of accountability and transparence, as well as internal and outside conflicts and their resolutions. The dataset puts together 20 age of annual data between 1999 and 2019 for 26 arising countries. It draws on any of data beginnings: The World Bank FinStats (Feyen, Kibuuka, and Sourrouille, 2014), IMF’s Financial Access Survey, World Governance Indicators, and Bank for International Settlement (BIS) debt securities table We used GMM and 2SLS systems to analyze the behavior of the elements of institutional quality containing political balance, regulatory quality, rule of standard, control over corruption, administration effectiveness, and voice and accountability in doing financial development. It is told that there is a direct equivalence between financial incident and institutional character. Well-functioning institutions have the capability to advance financial development. Improved bland standards and government frameworks have contributed to extreme rates of financial incident in several nations. The elements of institutional quality maybe improved whole for unit, and this can have a direct and significant effect on fiscal development. This implies that stable financial development is a result of robust institutions. The friendship between the characteristic of institutions and financial incident is unparalleled that emerging markets need to address the issues of the various components to a degree political stability, supervisory quality, rule of society, control over corruption, government influence, and voice and accountability.

Author(s) Details:

Henok Neguse Negash,

School of Finance, Zhongnan University of Economics and Law, #182 Nanhu Avenue, East Lake High-tech Development Zone, Wuhan, 430073, China.

Please see the link here: https://stm.bookpi.org/CTBEF-V8/article/view/11365

Recent Perspectives of Integration, Inclusion, Development in the Financial Sector and Economic Growth Nexus in SADC: Empirical Review | Chapter 14 | Current Strategies in Economics and Management Vol. 3

Aims: The study examines the relationship between financial development, integration, inclusion and economic growth. Study Design: Empirical literature review. Place and Duration of Study: Southern African Development Community (SADC), January 1980 to December 2011. Conclusion: Empirical evidence suggests mixed effect of financial integration and inclusion on economic growth. While some studies argue that financial integration has positive impact on economic growth, others state that financial integration has a negative impact on economic growth. On the other hand, some studies consider sound financial development to be a pre-requisite for financial integration to have a positive impact on economic growth. Financial inclusion is believed to have a positive or negative impact on economic growth. Some studies ascertain that the positive growth impact from the financial inclusion does not hold in economies characterised by low financial development. Literature reveals that the direction of causality between financial development and economic growth is uncertain. The SADC region present a unique sample of countries where a lot of initiatives have been taken to embrace financial integration, inclusion and development through, for example, strategic plans, policy frameworks, protocols declarations, charters, as well as memoranda of understanding. In the SADC region, Botswana, Mauritius, Namibia and South Africa are the most banked countries. The types of financial intermediaries across SADC member states include central banks, commercial banks, money lenders, unit trust companies, pension funds, non-bank deposittaking institutions, foreign exchange dealers, mutual banks, stock broking firms and primary dealers. Countries with no stock exchanges are Angola, Democratic Republic of Congo, Lesotho as well as Madagascar. South Africa exerts some influence on the financial sector performance in the region.

Author(s) Details

Oscar Chiwira
Dean Faculty of Commerce, BA ISAGO University, Botswana

View Book :- http://bp.bookpi.org/index.php/bpi/catalog/book/191