International Research and Academic scholar society

IRASS Journal of Economics and Business Management

Issue-6(June), Volume-3 2026

1. ANALYSIS OF THE EFFECT OF HDI, UNEMPLOYMENT, AND ECONOMIC GROWTH ON PO...
6

Imas Maspiroh*, Cep Jandi Anwar & Agus salim
Magister Economic and Business, University of Sultan Ageng Tirtayasa
1-4
https://doi.org/10.5281/zenodo.20519052

This study aims to analyze the effect of average years of schooling, minimum wage, life expectancy, economic growth, and the open unemployment rate on poverty in districts/cities in Banten Province for the period 2010–2024. The method used is panel data regression analysis with the Fixed Effect Model (FEM) approach, as well as further analysis using spatial models and Panel Vector Autoregression (PVAR). The data used are secondary data from the Central Statistics Agency (BPS). The results show that average years of schooling and life expectancy have a negative effect on poverty, while the open unemployment rate has a positive and significant effect. Meanwhile, the minimum wage and economic growth show inconsistent effects on poverty. Spatial analysis indicates spillover effects between regions, and PVAR analysis indicates that education and unemployment are the most dominant factors explaining variations in poverty. Overall, the research findings confirm that poverty alleviation requires improving the quality of human resources, creating jobs, and more inclusive and equitable development policies across regions.

2. ANALYSIS OF THE EFFECT OF PUBLIC INFRASTRUCTURE ON INCOME INEQUALITY I...
4

Ysma Soleha*, Hady Sutjipto & Agus Salim
Master of Economics Program, Universitas Sultan Ageng Tirtayasa
5-8
https://doi.org/10.5281/zenodo.20566765

This study aims to analyze the effect of public infrastructure on income inequality in Indonesia. The public infrastructure variables employed in this study include road infrastructure, electricity infrastructure, bridges, and information and communication technology (ICT), while income inequality is measured using the Gini Ratio. This research applies a quantitative approach using panel data regression analysis. The data used are secondary data obtained from the Central Bureau of Statistics (BPS) and related institutions covering 34 provinces in Indonesia. The analysis includes stationarity testing, multicollinearity testing, Common Effect Model (OLS), Fixed Effect Model (FEM), and Random Effect Model (REM). The findings reveal that the ICT variable has a negative and significant effect on income inequality, indicating that improved access to information and communication technology contributes to reducing the Gini Ratio. Meanwhile, the electricity variable demonstrates a positive and significant effect in the OLS and REM models, suggesting that the expansion of electricity infrastructure has not been fully accompanied by an equitable distribution of economic benefits and therefore tends to increase income inequality. In contrast, road and bridge infrastructure variables do not show a significant effect on income inequality in Indonesia. Overall, the results confirm that public infrastructure development has not yet fully generated equitable income distribution. Therefore, more inclusive and regionally balanced infrastructure development policies are required, particularly in the information and communication technology sector.

3. THE MODERATING ROLE OF CONSUMER INVOLVEMENT ON THE RELATIONSHIP BETWEE...
7

Richard Kwame Nimako, Francis Osei, Victoria Mensah, Enoch Kwablah Teye* & Abigail Naa Koshie Odarley Mensah
Presbyterian University, Ghana, Department of Business Administration & Agribusiness
9-21
https://doi.org/10.5281/zenodo.20567005

Purpose: This paper investigates the moderating role of consumer involvement in the relationship between social media advertising and purchase intentions. Design/methodology/approach: A quantitative research design was employed, using survey data collected from 384 social media users aged 18 and above in Tamale, Ghana, who were exposed to social media advertising. Regression-based moderation analysis was conducted to examine the moderating effect of consumer involvement on the relationship between social media advertising and purchase intentions. Findings: The results indicate that social media advertising has a significant positive effect on purchase intentions. More importantly, consumer involvement significantly moderates this relationship, such that the influence of social media advertising on purchase intentions is stronger among highly involved consumers than among those with lower levels of involvement. Research limitations/implications: Although social media users in Ghana are numerous and diverse, the study was limited by its cross-sectional design, which prevents the establishment of causal relationships. Data were collected only in Tamale and relied on self-reported responses, which may affect accuracy. Therefore, generalizing the findings should be done with caution. Practical implications: The findings suggest that marketers should tailor social media advertising strategies to consumer involvement levels to enhance effectiveness. Highly informative and engaging content is particularly important for involved consumers. Originality/value: This study contributes to strategy and consumer behavior literature by empirically demonstrating the boundary condition of consumer involvement in explaining the effectiveness of social media advertising on purchase intentions.

4. HOW PRODUCT FEEDBACK DRIVES MARKETING STRATEGIES: THE INTERACTIVE EFFE...
6

Francis Osei, Richard Kwame Nimako, Victoria Mensah, Enoch Kwablah Teye* & Abigail Naa Koshie Odarley Mensah
Presbyterian University, Ghana, Department of Business Administration & Agribusiness
22-32
https://doi.org/10.5281/zenodo.20567173

Purpose: The research aims to assess the effect of product feedback on marketing strategies and the moderating role of customer engagement. Design/methodology/approach: The research the research employs a positivism paradigm, the deductive approach, the explanatory research design, convenient sampling by utilizing structured questionnaires to gather data from 380 customers at Kasapreko Company Limited in the Greater Accra Region of Ghana Findings-The findings reveal a statistically significant positive relationship between product feedback and marketing strategies, indicating that effective feedback mechanisms can aid firms in aligning their offerings with customer expectations. Similarly, customer engagement is shown to enhance the effectiveness of marketing strategies, acting as a vital moderator that enriches the feedback process Research limitations/implications: Although this study offers valuable contributions to the comprehension of the impact of product feedback on marketing policy, the study was limited to customers of Kasapreko company limited Accra so making generalization must be done with outmost care. Practical implications: Managers should integrate effective feedback mechanisms that enable their customers to express their views, experiences and proposals on a regular basis. Originality/value: The study provides important contribution to the African economy by providing empirical evidence to product feedback, marketing strategies and customer engagement.

5. Groundnut (Arachis hypogaea) Piloting, Production, Aggregation, and Ma...
4

Ekiru Francis Anno*
Unicaf University (UUM), School of Doctoral Studies, Lilongwe, Malawi
33-45
https://doi.org/10.5281/zenodo.20569136

The study examined the elements of groundnut development in Turkana, specifically the piloting, production, and marketing phases, as well as the system for harvest and aggregation. The study objectives derived from the above elements were (i) analyse data and outcomes from groundnut piloting and production phases, (ii) identify strategic challenges in groundnut production and marketing relevant to drylands agroecologies, (iii) propose a groundnut aggregation model suitable for the Turkana context, and (iv) determine the factors impeding the performance and sustainability of groundnut in Turkana based on the production phase results. 26 groundnut production sites were sampled for investigation from 5 sub-counties of Turkana. The pilot results indicated that at maturity, EUGN 2 (groundnut variety) produced a superior yield of 92 pods per plant in 100 days, in contrast to EUGN 1 and indigenous groundnut varieties, which gave 88 and 48 pods in 105 and 95 days, respectively, establishing EUGN 2 as the optimal variety for Turkana agroecology. The production phase results indicated that among the 26 agricultural sites, the arable land encompasses 22,093 acres, of which only 8,663 acres (39.2%) are cultivated with various crops. Additionally, the land allocated for groundnut cultivation measures 9,810 acres, which, if fully utilised, has the potential to yield 11,772 metric tonnes of unshelled groundnuts valued at KES 1.413 billion. The crop value is able to transform the economy and the wellbeing of the populations in Turkana. The actual production of groundnuts was subpar due to several systemic challenges, including inconsistent yields, absence of a market-orientated business strategy, fragmented and diminutive farm plots, inadequate mechanisation, and a deficient governance structure in farm leadership. Additional challenges included delayed produce off-take by aggregators, delayed payments to farmers, accumulation of aflatoxins especially during the production phase, an ineffective aggregation strategy, and imprecise data for decision-making. The study advocates for thorough feasibility assessments, enhancement of governance frameworks in production areas, land consolidation and mechanised labour, deployment of technical and scientific expertise in managing groundnut value chain elements, continuous access to improved seed systems, and the establishment of viable and competitive product aggregation and market access models as key areas for action.

6. Government Financing Policy and the Development of Small and Medium En...
2

Anuwa, Omozuah Bethel & Andrew E. O. Erhijakpor FCA*
Professor of Finance and Development, Department of Banking and Finance, Delta State University, Abraka, Nigeria
46-56
https://doi.org/10.5281/zenodo.20678022

The study examined the effects of government financing policies on the growth of small and medium enterprises (SMEGR) in Nigeria over the period 1980 to 2025. The research focused on domestic borrowing-to-GDP ratio (DBGDPR), external borrowing-to-GDP ratio (EXTBGDPR), tax-to-GDP ratio (TGDPR), public investment ratio (PIR), and fiscal deficit-to-GDP ratio (FDGDPR) as proxies for government financing policies, while SME growth rate (SMEGR) served as the dependent variable. Exchange rate (EXR) and inflation rate (INFR) were incorporated as control variables to account for broader macroeconomic influences. Annual time series data were sourced from the Central Bank of Nigeria Statistical Bulletin, IMF, World Bank Development Indicators, National Bureau of Statistics, and OECD databases. The study employed the Autoregressive Distributed Lag (ARDL) approach which allowed simultaneous estimation of short-run and long-run effects among the variables. The results revealed that DBGDPR had a negative but statistically insignificant effect on SMEGR in both the short run and long run. In contrast, EXTBGDPR exerted a positive and statistically significant influence on SMEGR across both periods. TGDPR and PIR also exhibited positive and significant effects on SMEGR, reflecting the critical role of fiscal revenue mobilization and productive expenditure in creating an enabling environment for enterprises. FDGDPR recorded positive and significant coefficients, suggesting that moderate deficits facilitated government programs supportive of SME development. Control variables; EXR and INFR were found to have negative but statistically insignificant effects, indicating that currency instability and price fluctuations adversely affected SMEs. The study concluded that strategically targeted government financing policies significantly enhanced SME development in Nigeria through infrastructure provision, investment support, and fiscal interventions. The study recommended reducing excessive domestic borrowing, expanding productive external borrowing, strengthening tax utilization, increasing public investment, and managing fiscal deficits effectively to support SME growth.

7. Crowding-Out Effect of Domestic Debt on Private Infrastructure Financi...
4

Dr. Chukwunenye Kocha1, Dr. Precious Onyiniye Okey-Nwala2, Dr. Marshal Iwedi*3
1-2-3*Department of Finance, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt
57-66
https://doi.org/10.5281/zenodo.20839990

This study examines the crowding-out effect of domestic debt on private infrastructure financing in Nigeria using annual time-series data covering the period 1985–2024. The primary objective is to investigate whether increasing government domestic borrowing constrains the availability of credit to the private sector, which is a key source of financing for infrastructure development. Credit to the private sector (CPS) was used as a proxy for private infrastructure financing, while domestic debt (DDD), interest rate (INT), and gross domestic product (GDP) were included as explanatory variables. The study employed descriptive statistics and unit root tests to examine the statistical properties of the data, while the Autoregressive Distributed Lag (ARDL) model was used to estimate the dynamic relationship among the variables. The empirical results show that domestic debt has a significant positive effect on credit to the private sector in the short run, suggesting that moderate government borrowing may initially stimulate financial sector activities. However, the lagged effect of domestic debt was found to be negative and statistically significant, indicating that persistent government borrowing from the domestic financial market may eventually reduce the funds available for private sector investment. This finding supports the crowding-out hypothesis, which posits that excessive government borrowing competes with private sector demand for loanable funds. The results further reveal that interest rate has a negative but statistically insignificant effect on private sector credit, while economic growth exhibits weak positive lagged effects. The study concludes that although domestic debt can support government financing needs, excessive reliance on domestic borrowing may constrain private sector access to finance, particularly for infrastructure investment. The paper therefore recommends prudent domestic debt management, development of alternative infrastructure financing mechanisms such as public–private partnerships, and further deepening of the financial sector to ensure sustainable private sector participation in infrastructure development in Nigeria.

8. Systematic Literature Review on the Use of Economic Scenario Generator...
6

Michael Ezra Otoo*1, Joseph Manasseh Opong2, Enoch Kwablah Teye2, Emily Asaa Addison3
1*-2-3Presbyterian University, Ghana, P.O. Box 59. Abetifi-Kwahu
67-73
https://doi.org/10.5281/zenodo.20850192

Economic Scenario Generators (ESGs) have become indispensable tools in modern insurance reserve valuation, solvency assessment, and asset-liability management due to their ability to model uncertainty in economic and financial variables. Despite their widespread application, there remains limited synthesized evidence regarding their design, calibration, regulatory application, and effectiveness in insurance liability valuation. This study presents a systematic literature review of ESG applications in insurance reserve valuation and liability risk measurement using the PRISMA 2020 framework. A comprehensive search of academic databases, regulatory publications, and industry reports covering the period 2000–2025 yielded 842 database records and 49 additional sources. Following screening, eligibility assessment, and quality evaluation, 85 studies were included in the final synthesis. The review identifies six major thematic areas: ESG architecture and calibration, regulatory and accounting requirements, reserve estimation for complex guarantees, computational techniques, model risk and validation, and emerging climate-related risks. Findings indicate a significant transition from traditional deterministic and single-factor models to sophisticated multi-factor, market-consistent stochastic frameworks driven largely by Solvency II and IFRS 17 requirements. Advances in proxy modelling, least-squares Monte Carlo methods, and machine learning have enhanced computational efficiency; however, challenges remain regarding the integration of real-world and risk-neutral measures, model validation, and climate risk incorporation. The study highlights critical research gaps and provides recommendations for future ESG development, regulatory harmonization, and robust insurance liability valuation practices.

9. Public Sector Accounts and its Economic Implications: Historical Analy...
1

Stephen Oghenevwede*1, Erhijakpor Andrew E. O.2
1*Department of Banking and Finance, Delta State University, Abraka, 2Professor of Finance & Development, Department of Banking and Finance, Delta State University, Abraka
74-86
https://doi.org/10.5281/zenodo.20920813

This study examined public sector accounts and their economic implications through a historical analysis of trends and elasticity in Nigeria. GDP growth rate (GDPGR) served as the dependent variable, while tax-to-GDP ratio (TAX/GDP), public debt-to-GDP ratio (DEBT/GDP), capital expenditure ratio (CAPEX/GDP), recurrent expenditure ratio (RECEX/GDP), and interest payment-to-revenue ratio (INTPAY/REV) constituted the explanatory variables. Inflation rate (INF), exchange rate (EXR), and foreign direct investment as a percentage of GDP (FDI) were incorporated as control variables. The study adopted an expost facto research design and utilized annual time-series data sourced from the Central Bank of Nigeria Annual Reports and Statistical Bulletins, National Bureau of Statistics publications, World Bank databases, and International Monetary Fund databases. Descriptive and econometric techniques were employed in the analysis. The Autoregressive Distributed Lag (ARDL) approach was adopted to estimate both short-run and long-run relationships among the variables. The findings revealed that TAX/GDP exerted a negative and statistically insignificant effect on GDPGR in both the short run and long run. Similarly, DEBT/GDP had a negative but statistically insignificant influence on GDPGR. Conversely, CAPEX/GDP demonstrated a positive and statistically significant effect on GDPGR in both the short run and long run. RECEX/GDP also exerted a positive and significant effect on GDPGR. Likewise, INTPAY/REV significantly and positively influenced GDPGR. Additionally, the Error Correction Term coefficient indicated that approximately 106.47 percent of short-run disequilibrium was corrected within one period. The study concluded that public sector accounts remained important determinants of economic growth in Nigeria, although their effects varied across fiscal components. It recommended improvements in tax administration, prudent debt management, increased prioritization of capital expenditure, efficient management of recurrent expenditure, and strengthened fiscal transparency to promote sustainable economic growth in Nigeria.

10. International Financial Sanctions and Its Implications for tit Stabili...
1

Suad Jawad kadhim*
Economics Department College of Administration and Economics, University of Al-Qadisiyah, Iraq
87-95
https://doi.org/10.5281/zenodo.21056071

One of the most significant incidents that created considerable disagreement about the future of the international financial system is the investigation of the state of Russian assets blocked during 2022 after sanctions finance international order critical worldwide from stability on implications study to purposes research Tit International finance limitations use instruments in study of goals political and geopolitics. It concentrates mainly on legal economic analytical foundations Based on her western countries in freezing assets Russian examination antiquities resulting on this is fantastic procedures in level trust Internationalised in institutions Global Finance and Markets Cash Study what it means for status currency No reserve tit dollar and euro dollar American dollar President. As good it does Search impact this is wonderful progress in trends few countries about diversification Its depletion of foreign reserves and What is known in framework accreditation in Tit dollar It was implemented in directions elimination dollarization, with research bezel capability this is astonishing trends on events transformation substantial in structure order critical Global. Title approach research descriptive analytical curriculum file assets during monitor developments search condition from Russian frozen analytical data and Institutions finance reports Economic tit link and international organisations' tit connection. search to that freezing assets Russian appearance precedent tit antiquities strategy far away tit range, and contributed in strengthening concerns it have some countries about security assets sovereignty tit retainer in it in centers finance western, tit matter that to push number from it to reevaluation policies administration reserves foreign and with that, it indicates results to that continuation dominance dollar and currencies western what zeal supported factors economic and institutional and structure strong, which makes any transformation radical in order critical global practical gradual and complex not a result directly for sanctions finance alone.

11. Strategic Interventions and Outcomes in Livestock Production and Marke...
0

Ekiru Francis Anno*
Unicaf University (UUM), School of Doctoral Studies, Lilongwe, Malawi
96-105
https://doi.org/10.5281/zenodo.21060872

Livestock production remains the cornerstone of pastoral livelihoods and economic development across the Arid and Semi-Arid Lands (ASALs) of Sub-Saharan Africa. This study employed a systematic literature review to examine livestock production systems, marketing practices, and development interventions within pastoral and agro-pastoral areas, with particular relevance to Kenya and the Horn of Africa. The review synthesized evidence on pastoral production systems, animal husbandry, nutrition and feed management, genetic improvement, livestock value chains, leather industry development, rangeland management, ecosystem conservation, and climate change adaptation. The findings indicate that livestock contributes significantly to household incomes, food security, employment, and national economies, while also serving important social and cultural functions within pastoral communities. However, the sector faces persistent challenges including recurrent droughts, climate change, rangeland degradation, feed shortages, livestock diseases, weak market integration, inadequate infrastructure, and limited access to production support services. The review further highlights the growing transition from subsistence-oriented pastoralism toward market-oriented livestock production, particularly in areas with stronger links to urban markets. Evidence from the reviewed studies demonstrates that sustainable livestock development requires integrated interventions encompassing improved animal husbandry, enhanced feed and fodder systems, genetic improvement, sustainable rangeland management, value addition, and strengthened market systems. Climate-smart livestock production, ecosystem-based resource management, and gender-inclusive approaches were identified as critical components for building resilience among pastoral communities. The study also underscores the untapped potential of livestock value chains, particularly leather processing and other value addition enterprises, in generating income and promoting economic growth. The study concludes that achieving sustainable pastoral development requires balancing livestock productivity, market integration, and environmental sustainability. Strengthened policy support, increased investment, institutional coordination, and community participation are essential for enhancing resilience, improving livelihoods, and ensuring the long-term sustainability of pastoral livestock systems in Kenya and other dryland regions of Sub-Saharan Africa.





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