Open Access

Article

Article ID: 2033

Financial literacy education and inclusion for migrants: A logistic regression model exploration

by Julius Kwaku Adu-Ntim, Kingsley Ofosu-Ampong, Angela Ashorkor Ashietey, Daniel Abotwe Dzimah

Forum for Economic and Financial Studies, Vol.2, No.4, 2024; 56 Views

This study investigates the financial literacy and inclusion of Ghanaian migrants in the UK, focusing on demographic impacts on financial behaviors. Analyzing data from 400 structured survey respondents through descriptive statistics, correlation analysis, and logistic regression, the research finds that most Ghanaian migrants in the UK are younger, unmarried males with less than a university education. Educational attainment emerges as a significant predictor of financial asset ownership, with higher education levels correlating with ownership of savings accounts, investments, and pensions. Marital status also influences financial behaviors, with married individuals exhibiting different financial patterns than singles. Correlation analysis reveals a positive relationship between the length of stay in the UK, age, financial inclusion, and literacy, indicating that longer residency is linked to better financial integration and literacy. Older migrants tend to have larger households and higher financial engagement and literacy. The study provides empirical data on the financial behaviors of Ghanaian migrants in the UK, underscoring the need for financial literacy and inclusion for socio-economic integration. Recommendations include targeted educational programs for younger, unmarried Ghanaian males, and support services for new migrants to navigate the UK’s financial system, aiming to promote economic empowerment and integration within the migrant community.

Open Access

Review

Article ID: 1626

Why the European Central Bank lacked efficacy to fight against the recent surge in inflation

by Séverine Menguy

Forum for Economic and Financial Studies, Vol.2, No.3, 2024; 53 Views

The paper focuses on the determinants of the surge in inflation between 2021 and 2023 and on the efficacy of monetary policy in fighting against these inflationary tensions. The main role of the European Central Bank is to ensure that inflation expectations remain anchored to a clear target. An active monetary policy can also stabilize future expected inflationary tensions or demand shocks. However, a simple theoretical model can explain the incapacity of European monetary policy to fight against the supply-side factors of inflation in the post-COVID period: inflationary tensions inherited from previous periods, imported from foreign countries (energy and food), or due to higher current or anticipated profit margins. In these cases, a huge increase in the nominal interest rate and a very contractionary monetary policy only risk creating a strong recession, without avoiding inflationary tensions.

Open Access

Article

Article ID: 1806

Does economic growth, external debt, and institutional quality promote poverty and income inequality in Nigeria?

by Magaji Ibrahim Yakubu, Samson Adeniyi Aladejare

Forum for Economic and Financial Studies, Vol.2, No.3, 2024; 55 Views

The United Nations sustainable development goal 10 (SDG10) aims to reduce inequality and by extension poverty within and between countries. However, issues of economic growth, external borrowing, and institutional quality could clog efforts at realising SDG10, particularly in a developing country. Thus, this study assessed the effect of economic growth, foreign debt, and institutional quality on poverty and income inequality in Nigeria between 1990 and 2022. The research applied the autoregressive distributed lag (ARDL) technique in its empirical analysis. Findings from the study indicated that economic prosperity does not have significant long-run impact on poverty and inequality. However, the short-run relationship showed that economic growth increases inequality in Nigeria. Foreign borrowing was revealed to further aggravate poverty and inequality in the long-run. Also, while government effectiveness demonstrated an enhancing effect on poverty in the short and long-run periods, its long-run impact on inequality is significantly decelerating. Thus, based on the aforesaid conclusions the study recommends the strengthening of small and medium enterprises through access to finance at lower interest rates and equitable distribution of national wealth through the payment of a living wage, provision of social and economic infrastructure, etc. Also, the agricultural sector should be made more attractive to the youths through encouraging export promotion policies. Leveraging financial technology, and encouraging start-up firms can further reduce the poverty and the inequality level in the country.

Open Access

Article

Article ID: 2002

Project management and partner banking as tools for the recovery concept in Ukraine

by Arkadii Sukhorukov, Tatiana Yegorova-Hudkova, Maksim Bojko

Forum for Economic and Financial Studies, Vol.2, No.2, 2024; 63 Views

The main purpose of this study is to investigate the effect of project management and partnership banking. Due to the shortage of investment, Ukraine always needs to plan for financial resources. All over the world, partnership banking is becoming an increasingly common and attractive type of investment in projects. In the conditions of modern Ukraine, with the need to restore industrial and infrastructure construction projects, one can predict significant growth in the construction services market and the need for investment. In this study, the ways of possible increasing investment in the construction industry have been discussed based on the use of a logical-structural approach in project management and partnership banking as a source of investment.

Open Access

Review

Article ID: 1745

Shattering the glass ceiling: The unseen impact of gender diversity on financial transparency

by Amna Arshad, Saira Arshad, Hafiz Azeem, Khoula Naseer, Muhammad Rehan

Forum for Economic and Financial Studies, Vol.2, No.2, 2024; 69 Views

This bibliometric analysis explores the relationship between financial reporting quality and top management team gender diversity within the field of management and business. A total of 395 journal articles related to financial reporting quality from 2003 to 2020 were reviewed. Utilizing ‘biblioshiny’, a web interface of the ‘bibliometric 3.0’ package in R-Studio, this study conducted a comprehensive bibliometric analysis and visualization. The research examines key sources, influential authors, countries, and thematic trends through co-occurrence network analysis and thematic mapping. By applying Bradford’s Law, core sources and publications are categorized based on output, distinguishing high-production from low-production sources. The findings highlight the increasing importance of gender diversity in top management teams and its positive impact on corporate governance and financial transparency. The presence of women in leadership roles fosters ethical behavior, reduces earnings manipulation, and enhances the overall quality of financial reporting. This analysis also reveals a strong connection between gender diversity and financial reporting quality, indicating that diverse leadership improves corporate governance practices. The study provides a foundation for future research, offering insights into key trends and research streams, and encourages further investigation into the impact of diverse leadership on financial outcomes across various organizational contexts.

Open Access

Opinion

Article ID: 1758

Opportunities and challenges of AI in financial risk management: A brief labour-centric analysis A Brief Labour- Centric Analysis

by Kanupriya

Forum for Economic and Financial Studies, Vol.2, No.2, 2024; 103 Views

This study examines the significant impact of artificial intelligence (AI) on financial risk management. As financial markets become more interconnected, AI adoption has become an essential requirement. AI-driven risk management systems enable financial institutions to streamline operations, adhere to regulatory standards and navigate the complexities of the financial environment. The study uses existing literature on AI’s opportunities and challenges; primarily corporate study reports and journal articles to discuss future policy implications. AI’s impact extends beyond quantitative evaluations, permeating a culture of innovation and adaptability within financial organizations. The use of natural language processing, machine learning and predictive analytics allows banks to revolutionize risk management strategies. AI enables proactively predicting potential challenges, enhancing the precision and efficacy of risk evaluations. This proactive approach is vital for sustaining growth and resilience in an ever-evolving financial landscape. Investing in AI technologies not only safeguards operations against uncertainties but also redefines the future of the finance and banking industries. The seamless integration of AI into risk management processes positions the financial sector as more secure, efficient and innovative. Cultivating a workplace culture that equips employees with the necessary skills and expertise to leverage AI technologies effectively is crucial. This study highlights the crucial role of AI in financial risk management and its role in securing the future of financial systems, with labour welfare in the centre.