Infrastructure and economic growth in ECOWAS member states: The Westerlund co-integration approach

This research explores the impact of infrastructure on member states' economic growth in the Economic Community of West African States (ECOWAS). Utilizing panel secondary data sourced from the World Bank Development Indicators (WDI) and the African Infrastructure Development Index (AIDI) across all fifteen ECOWAS Member States over eighteen years, the study employs the panel Non-linear Autoregressive Distributed Lag (NARDL) model and the Westerlund co-integration test for analysis. The findings reveal that investments in infrastructure, improvements in the African Development Index, and enhancements in the Electricity Composite Index significantly contribute to the economic growth of ECOWAS countries. Specifically, infrastructure investment is associated with a 0.01 per cent increase in the Gross Domestic Product (GDP) of the ECOWAS countries studied. In comparison, the African Development Index and the Electricity Composite Index are linked to increases in GDP by 0.292 per cent and 0.987 per cent, respectively, in the long term. Based on these outcomes, the study recommends that ECOWAS country authorities enhance policies to optimize government spending on infrastructure quality. Furthermore, adopting quality-enhancing and efficiency-driven financing policies in infrastructure is advocated to complement ECOWAS's ongoing infrastructural development efforts. The realization of these recommendations hinges on the availability of accurate data for informing decisions and guiding policymakers. Hence, the study underscores the need for the ECOWAS Commission to bolster its capacity for collecting reliable data on infrastructure variables and other indicators. It also proposes that future research should focus on promoting sub-regional peer-review mechanisms for infrastructure indicators among member states and establishing structures to fortify infrastructure in West Africa

Empowering housewives through green marketing: Fostering eco-friendly household products for sustainable consumption

The escalating concern over the green gap phenomenon, which underscores a discord between consumers' environmental concerns and purchasing behaviours, has accentuated the importance of exploring eco-friendly consumption patterns. This study delves into the multifaceted factors influencing the purchasing behaviour of eco-friendly household products, focusing on the dynamic interplay among consumer knowledge, values, subjective norms, and perceived behavioural control. Specifically, it aims to elucidate how these variables collectively inform housewives' attitudes towards eco-friendly products and purchasing behaviours. The research gathered data from 300 respondents across Jambi City and Sungai Penuh City within Jambi Province, employing principal component analysis and structural equation modelling to scrutinize the hypothesized relationships between the constructs. The findings underscore consumer values, subjective norms, and perceived behavioural control significantly and positively influence consumer attitudes towards eco-friendly household products. Moreover, a pronounced positive correlation between consumer attitudes and eco-friendly purchasing behaviour was identified, whereas the impact of consumer knowledge on consumer attitudes emerged as negligible. This research enriches the theoretical discourse on eco-friendly purchasing behaviour, particularly concerning household products. It offers critical insights for marketers, policymakers, and environmental advocates aiming to foster sustainable consumption practices by pinpointing the pivotal factors that shape consumer attitudes and behaviours. Additionally, the study lays a robust groundwork for subsequent research endeavours to bridge the green gap and advance environmental sustainability through enlightened consumer decisions

Unveiling external debt dynamics: Interdependencies of macroeconomic variables in ASEAN-7

This study explores the interplay between external debt, infrastructure investment, epidemic response funding, net exports, and the consumer price index (CPI) in seven ASEAN countries—Indonesia, Myanmar, Thailand, Cambodia, Laos, the Philippines, and Vietnam—during the period from 2000 to 2020. Data were derived from the World Bank, OECD, and IMF. This research uses the autoregressive distributed lag model (ARDL) panel data approach to estimate the short-term and long-term relationships among the variables. Short-term results reveal that infrastructure investment, epidemic response funding, net exports, and the CPI do not significantly impact external debt. However, in the long-term analysis, epidemic response funding, net exports, and the CPI positively affect external debt. These findings have significant implications for policymakers in developing countries, especially within the ASEAN region

The influence of financial development on total fertility rate in Indonesia

This study investigated the impact of financial development on the total fertility rate in Indonesia, hypothesizing that financial development significantly influences fertility rates. The objective was to ascertain the effects of financial development on Indonesia's total fertility rate, utilizing annual time series data from 1980 to 2021 obtained from the official websites of Bank Indonesia, the Central Bureau of Statistics, and the World Bank. The analysis employed the Autoregressive Distributed Lag (ARDL) method to examine the influence of the money supply in circulation (M2), Gross Domestic Product, and household consumption on the total fertility rate, with these variables serving as proxies for financial development. The study utilized a comprehensive data analysis approach, including stationary tests, cointegration bound tests, ARDL Model analysis for long-term and short-term effects, and classical assumption tests. The findings revealed that the money supply (M2) has a negative and significant impact on the total fertility rate, the Gross Domestic Product also negatively and significantly affects the total fertility rate, while household consumption positively and significantly influences the total fertility rate. These results underscore the multifaceted relationship between financial development and fertility trends in Indonesia

The role of bank and startup fintech P2P lending in supporting financial credit for Indonesian farmers

One of the challenges faced by farmers is securing capital for the development of their agricultural businesses. Banks and peer-to-peer (P2P) lending fintech startups employ various business models to assist farmers in obtaining the necessary capital. This study investigates the credit financing schemes available to farmers through banks and P2P lending fintech startups. The research, which utilized a qualitative approach, involved collecting both primary and secondary data. Primary data were gathered through comprehensive interviews with two academic experts in the agricultural business sector and five leaders of agri-tech startup companies. Secondary data included: (1) annual financial reports from BRI, Mandiri, and BNI; (2) statistical reports on P2P lending providers from the Financial Services Authority (OJK); and (3) models of financing schemes for farmers derived from a range of empirical sources. A descriptive analysis was subsequently conducted to explore the various financing schemes available to farmers through banks and P2P lending fintech startups, as well as to assess the performance of these financing programs via data on the rate of non-performing loans (NPLs). The findings indicate that the financing schemes implemented by banks predominantly focus on economic factors to facilitate loan repayment. In contrast, P2P lending fintech startup schemes emphasize both economic and social aspects, including enhancing farmers' knowledge in implementing Good Agricultural Practices (GAP) and improving financial literacy, aiming to ensure smooth loan repayments. Furthermore, the study observed an increase in the value of Non-Performing Loans (NPL) among both banks and P2P lending fintech startups during the Covid-19 pandemic

Predicting future inflation in Indonesia using Dynamic Model Averaging (DMA)

The features of Indonesia's inflation data, which make it extremely susceptible to shocks like those felt in 2005 and 2008, as well as extensive potential influencing factors, lead to problems in forecasting inflation. These problems include time variation in coefficients, models that can change over time, and many predictors to consider. Dynamic Model Averaging (DMA) solves these problems since it has evolved coefficients and models that change over time. This study uses DMA to predict future inflation by involving eight macroeconomic indicators as exogenous variables. The results of the in-sample analysis show that six predictors are significant in forecasting inflation, with posterior inclusion probability (PIP) being above 40%. Although the remaining predictors have PIP means below 40%, they can still be considered important. The out-of-sample results suggest that DMA performs better than dynamic model selection and models that don’t include exogenous variables, such as autoregressive models. The forecast results indicate a consistent pattern over the 12 months studied. The attempt to control inflation can be achieved by prioritizing the money supply factor, which has the highest PIP value, indicating that it is the most important factor

The effect of economic growth and poverty on stunting in Indonesia

Stunting is a critical issue affecting children under five years old, characterized by inadequate growth due to chronic malnutrition and recurrent infections, especially during the crucial first 1,000 days of life (from age 0 to 23 months). Stunting impacts not only height but also vital functions such as brain development and the immune system, potentially leading to decreased intelligence levels and increased susceptibility to diseases later in life. This study examines the impact of the growth of the Gross Regional Domestic Product (GRDP) in the primary, secondary, and tertiary sectors and the level of rural poverty on stunting in Indonesia. This research, which covers time series data from 2015-2020 across 32 provinces in Indonesia, employs a panel data regression model analysis method. The findings indicate that primary sector GRDP growth has a positive effect, whereas secondary sector GRDP negatively impacts stunting. However, the tertiary sector GRDP and rural poverty do not significantly affect stunting rates in Indonesia

Comparative analysis of entrepreneurial intentions among generations in Jambi Province: A study of Gen Bust, Millennials, and iGeneration

In the face of intense global competition, such as the introduction of the ASEAN Economic Community (AEC), the Indonesian workforce must transition from merely seeking employment to creating job opportunities. In this regard, cultivating an entrepreneurial spirit is a strategic alternative to bolster employment prospects and stimulate innovation. This study was carried out in the province of Jambi with the primary objectives of: 1) analyzing the characteristics and entrepreneurial intentions across different generations in Jambi; 2) examining the factors that influence these entrepreneurial intentions. The research compares three generations—Generation Bust (Gen Bust), Millennials, and the iGeneration—all within the productive age bracket and possesses substantial potential to drive development. The research methodology entailed collecting data through surveys administered to individuals from Gen Bust, Millennials, and the iGeneration in Jambi. The data was analyzed using descriptive statistical tools and the Structural Equation Modeling (SEM) technique. The findings reveal notable differences in entrepreneurial intentions among the generations, with Gen Bust and Millennials exhibiting stronger entrepreneurial intentions than iGeneration. Influential factors for these entrepreneurial intentions include attitudinal and contextual elements such as academic, social, and environmental support. Although individual characteristics vary among the generations, they do not consistently exert a direct and significant impact on entrepreneurial intentions, particularly for iGeneration. This research offers crucial insights into how specific factors affect entrepreneurial intentions across different generations, which can assist in developing strategies and policies to foster entrepreneurship in Jambi, especially in light of global and regional economic challenges

The dynamics of Long-Acting Reversible Contraception (LARC) choices in rural Jambi: Socio-economic perspectives

High population growth without concurrent improvements in human quality poses significant challenges in promoting equitable welfare across various life aspects. Thus, population control is crucial for achieving sustainable development goals. This study emphasizes the role of Long-Acting Reversible Contraception (LARC) in managing fertility rates and investigates three main components of population growth: fertility, mortality, and migration. The objectives are threefold: 1) Analyze the profile of fertile-age couples using LARC in rural Jambi; 2) Investigate the socio-economic factors influencing the choice between LARC and non-LARC methods among these couples; 3) Explore the relationship between the couples' characteristics and their choice of LARC. Data were collected from a survey of 200 fertile-age couples participating in a family planning program across four villages in Jambi. The analysis utilized descriptive statistics, binary logistic regression, and multinomial logistic regression. Findings indicate that LARC usage among fertile-age couples in rural Jambi is low, at approximately 28% of total contraceptive users, with implants being the most common LARC type. In contrast, non-LARC methods are more prevalent, accounting for 72% of usage, dominated by three-month injectables, followed by pills and male condoms. Significant factors influencing the choice between LARC and non-LARC include the husband's education, the woman's employment status, the number of living children, the disparity between actual and ideal family size, desire for more children, knowledge about contraceptive options, and family income. Furthermore, characteristics significantly related to the choice of LARC methods such as tubal ligation, implants, and IUDs include the woman's age, number of living children, the gap between the ideal and actual number of children, desire for more children, woman's employment status, knowledge about contraceptive devices, and family income

Epistemological criticism of the concept of individualism in conventional economies

This research critically examines the epistemology surrounding the concept of individualism within conventional economics, focusing on elucidating the influence of non-economic factors—namely culture, social norms, and collective psychology—on economic decision-making processes. This study endeavors to uncover the role of these factors in individual economic decisions by employing a methodology rooted in analyzing economic and sociological literature. The findings shed light on the discordance between the traditional notion of individualism and the multifaceted realities of contemporary society, where culture, social norms, and collective psychology significantly shape economic behaviors and preferences. By providing nuanced insights into how these non-economic factors impact individuals' economic choices and actions, this research underscores the imperative for a broader, more inclusive perspective within economic paradigms. This study contributes to a richer comprehension of the complexities inherent in individual economic decisions when viewed against non-economic influences