Search Results (588)

This paper measures the post-treatment effects of Central Bank Digital Currencies (CBDCs) on mobile money and outstanding loans from commercial banks as a percentage of the GDP in Nigeria and the Bahamas, respectively, from the perspective of financial inclusion. The literature on the topic has primarily focused on the technological specifications of CBDCs and their potential future implementation. This article addresses a gap in the empirical literature by examining the effects of CBDCs. To this end, a Synthetic Control Method (SCM) is applied to the Bahamas (SandDollar) and Nigeria (eNaira) to construct a counterfactual scenario and assess the impact of CBDCs on mobile money and commercial bank loans. Nigeria’s mobile money transactions as a percentage of the GDP increased significantly compared to the synthetic control group, suggesting a notable positive effect of the eNaira. Conversely, in the Bahamas, actual performance fell below the synthetic control, implying that SandDollar may have contributed to a decline in outstanding loans. These results suggest that CBDCs could pose a “deposit substitution risk” for commercial banks. However, they may also enhance the performance of other Fintech tools, as observed in the case of mobile money. As CBDC implementations worldwide remain in their early stages, their long-term effects require further analysis. Full article

The introduction of mobile banking is essential in today’s financial sector, where technological innovation plays a critical role. To remain competitive in the current market, businesses must analyze client attitudes and perspectives, as these influence long-term demand and overall profitability. While previous studies have explored general adoption behaviors, limited research has examined how individual factors such as social influence, lifestyle compatibility, financial technology self-efficacy, and perceived usage cost affect mobile banking adoption among specific generational cohorts. This study addresses that gap by offering insights into these variables, contributing to the growing literature on mobile banking adoption, and presenting actionable recommendations for financial institutions targeting younger market segments. Using a structured questionnaire survey, data were collected from both users and non-users of mobile banking among the Gen Z population in the United States. The regression model significantly predicts mobile banking adoption, with an intercept of $-0.548$ ($p < 0.001$). Among the independent variables, perceived cost of usage has the strongest positive effect on adoption ($B=0.857$, $\beta =0.722$, $p < 0.001$), suggesting that adoption increases when mobile banking is perceived as more affordable. Social influence also has a significant positive impact ($B=0.642$, $\beta =0.643$, $p < 0.001$), indicating that peer influence is a central driver of adoption decisions. However, self-efficacy shows a significant negative relationship ($B=-0.343$, $\beta =-0.339$, $p < 0.001$), and lifestyle compatibility was found to be statistically insignificant ($p=0.615$). These findings suggest that reducing perceived costs, through lower fees, data bundling, or clearer communication about affordability, can directly enhance adoption among Gen Z consumers. Furthermore, leveraging peer influence via referral rewards, Partnerships with influencers, and in-app social features can increase user adoption. Since digital self-efficacy presents a barrier for some, banks should prioritize simplifying user interfaces and offering guided assistance, such as tutorials or chat-based support. Future research may employ longitudinal designs or analyze real-life transaction data for a more objective understanding of behavior. Additional variables like trust, perceived risk, and regulatory policies, not included in this study, should be integrated into future models to offer a more comprehensive analysis. Full article

Despite the importance of financial literacy, particularly in sustaining and improving rural agriculture, it is documented in the literature that little is known about financial literacy, particularly in rural communities in developing countries. Responding to the calls for research to address this gap, the current study investigates how financial literacy relates to access to funding, innovative service adoption, and sustainable food production among agricultural food producers in Nigeria’s rural communities. A probability sampling technique was used to draw 460 samples from registered rural farmers in the Central Bank of Nigeria’s Anchored Borrower’s Programme for food production in Edo State, Nigeria. Quantitative data were collected using a structured questionnaire. The hypotheses were tested using regression analysis, while descriptive statistics were deployed to analyse the demographic data of the respondents. The outcomes suggest that financial literacy has significant links with access to funding, innovative service adoption and sustainable food production among agricultural food producers in Nigerian rural communities. Based on the outcomes, it is concluded that financial literacy significantly influences sustainable food production in Nigerian rural communities. As such, there is a need for the Nigerian government and financial authorities to embark on a financial literacy drive to increase financial literacy, particularly in light of ever-evolving disruptive financial technologies. Full article

This study evaluates the competitiveness and sustainable development prospects of French-speaking African countries by constructing a comprehensive framework integrating the TOPSIS method and adaptive LASSO algorithm. Using multivariate data from sources such as the World Bank, 30 indicators covering core, basic, and auxiliary competitiveness were selected to quantitatively analyze the competitiveness of 26 French-speaking African countries. Results show that their comprehensive competitiveness exhibits spatial patterns of “high in the north and south, low in the east and west” and “high in coastal areas, low in inland areas”. Algeria, Morocco, and six other countries demonstrate high competitiveness, while Central African countries generally show low competitiveness. The adaptive LASSO algorithm identifies three key influencing factors, including the proportion of R&D expenditure to GDP, high-tech exports, and total reserves, as well as five secondary key factors, including the number of patent applications and total number of domestic listed companies, revealing that scientific and technological investment, financial strength, and innovation transformation capabilities are core constraints. Based on these findings, sustainable development strategies are proposed, such as strengthening scientific and technological research and development and innovation transformation, optimizing financial reserves and capital markets, and promoting China–Africa collaborative cooperation, providing decision-making references for competitiveness improvement and regional cooperation of French-speaking African countries under the background of the “Belt and Road Initiative”. Full article

Economically, all countries seek sustained growth driven by domestic demand, investment, and exports; however, COVID-19 revealed the vulnerability of interconnected economic systems and a sharp contraction in global trade. The objective of this research is to analyze through an econometric model the effect of traditional exports on Peru’s economic growth during the 2012–2023 period. The study employed a quantitative approach with a non-experimental, longitudinal design, using quarterly data from the Central Reserve Bank of Peru and the National Bureau of Statistics of China, which were transformed into natural logarithms. Unit root tests, the ordinary least squares (OLS) method and a two-stage least squares (2SLS) model were applied to correct for endogeneity. The results show that mining accounts for 81.7% of total traditional exports from Peru. The model indicated that a 1% increase in traditional exports leads to a 0.29% increase in GDP, confirming a positive impact. However, the high dependence of the mining sector exposes the economy to external risks. Therefore, a productive diversification strategy, alongside the modernization of the mining sector, is recommended to strengthen Peru’s economic resilience in the face of global crises and external fluctuations. Full article

This paper considers the impact of Central Bank Digital Currencies (CBDCs) on the world’s financial systems with a special emphasis on G20 economies. Using quarterly macro-financial data for the period of 2000 to 2024, collected from the IMF, BIS, World Bank, and Atlantic Council, a Global Vector Autoregression (GVAR) model is applied to 20 G20 countries. The results reveal significant heterogeneity across economies: CBDC shocks intensify emerging market financial instability (e.g., India, Brazil), while more digitally advanced countries (e.g., UK, Japan) experience stabilization. Retail CBDCs increase disintermediation risks in more fragile banking systems, while wholesale CBDCs improve cross-border liquidity. This article contributes to the literature by providing the first GVAR-based estimation of CBDC spillovers globally. Full article

Botanical gardens serve as vital centers for ex situ conservation, maintaining diverse plant species under controlled conditions. Terrestrial orchids, despite their wide diversity and distribution, often occur in small and declining populations, making their conservation increasingly urgent. This study aimed to examine the potential for establishing the first specialized orchidarium in Serbia, focusing on the native orchid species of the Fruška Gora region. A SWOT analysis, combined with site assessment data, was employed to identify key strengths, weaknesses, opportunities, and threats, informing the development of a functional zoning plan. The results indicate that such an orchidarium would offer a threefold benefit: strengthening ex situ conservation, advancing scientific research and environmental education, and promoting sustainable tourism. The proposed design consists of eight distinct zones, three of which reflect natural habitats of selected orchid species. The planned integration of a seed gene bank in the central zone, along with living plant collections and a nearby in vitro culture laboratory, establishes a comprehensive framework for the sustainable management of orchid genetic resources in the region, forming a foundation for future research and preservation. Full article

This perspective paper presents a first-person account of life with motor neurone disease (MND). Through the lens of lived experience, it explores the complex and often prolonged diagnostic journey, shaped in part by the protective grip of denial. This paper then delves into the emotional impact of MND on the individual and their close relationships, capturing the strain on identity and family dynamics. It also highlights the vital role of the multidisciplinary team in providing support throughout the journey. A central focus of the paper is the personal journey of voice banking. It reflects on the restorative experience of reclaiming a pre-disease voice through tools such as ElevenLabs^TM. This narrative underscores the critical importance of early intervention and timely access to voice banking, positioning voice not only as a tool for communication but also as a powerful anchor of identity, dignity, and agency. The paper concludes by highlighting key systemic gaps in MND care. It calls for earlier referral to speech pathology, earlier access to voice banking, access to psychological support from the time of diagnosis, and better integration between research and clinical care. Full article

This study explores the relationship between customer satisfaction and loyalty in mobile banking, emphasizing the moderating role of Technology Readiness. As mobile banking becomes increasingly central to financial service delivery, understanding the nuanced drivers of customer loyalty is essential for strategic growth. Drawing from the Technology Readiness Index, this study examines how four dimensions, optimism, innovativeness, discomfort, and insecurity, moderate the satisfaction–loyalty linkage. Data were collected via a structured survey from 258 mobile banking users in the United States, analyzed using partial least squares structural equation modeling (PLS-SEM). Results show that optimism and innovativeness positively moderate this relationship, while discomfort and insecurity act as negative moderators. Practically, this research introduces a segmented approach to mobile banking service design, underscoring the need for differentiated strategies that address varying levels of user readiness. Theoretically, this study addresses a gap in mobile banking literature by shifting the focus from adoption to sustained usage and satisfaction-based loyalty, enriching the discourse on customer behavior in digital finance. Full article

Nearly zero-energy buildings (nZEBs) are central to global carbon reduction strategies, and Taiwan is actively promoting their adoption through building energy performance labeling, particularly in the retrofit of existing buildings. Under Taiwan’s nZEB framework, qualification requires both an A⁺ energy performance label and over 50% energy savings from retrofit technologies. This study proposes an integrated assessment framework for retrofitting small- to medium-sized office buildings into nZEBs, incorporating diagnostics, technical evaluation, policy alignment, and resource integration. A case study of a bank branch in Kaohsiung involved on-site energy monitoring and EnergyPlus V22.2 simulations to calibrate and assess the retrofit impacts. Lighting improvements and two HVAC scenarios—upgrading the existing fan coil unit (FCU) system and adopting a completely new variable refrigerant flow (VRF) system—were evaluated. The FCU and VRF scenarios reduced the energy use intensity from 141.3 to 82.9 and 72.9 kWh/m²·yr, respectively. Combined with rooftop photovoltaics and green power procurement, both scenarios met Taiwan’s nZEB criteria. The proposed framework demonstrates practical and scalable strategies for decarbonizing existing office buildings, supporting Taiwan’s 2050 net-zero target. Full article

Central Bank Digital Currencies (CBDCs) are increasingly positioned as digital equivalents to physical cash, yet their ability to replicate the full functionality of cash remains contested. This study investigates whether the proposed Digital Euro can credibly serve as a substitute for physical Euro cash. Using a qualitative comparative framework, the analysis evaluates both currencies using 36 pairwise comparisons. The findings reveal that while the Digital Euro offers advantages in portability, divisibility, and digital integration, it falls short in key areas such as anonymity, fungibility, recognizability, and universal acceptability. These limitations are primarily due to technological dependencies, regulatory constraints, and the absence of physical tangibility. The study concludes that the Digital Euro cannot fully mimic the role of physical cash, particularly in offline and privacy-sensitive contexts. As a result, the hypothesis that the Digital Euro is an electronic equivalent of physical Euro cash is rejected. These findings underscore the continued relevance of physical currency and highlight the need for cautious, evidence-based CBDC design and implementation. Full article

This study aims to analyze the impact of the U.S. Federal Reserve System’s monetary policy on major cryptocurrencies. Specifically, it explores whether the effects differ between volatile cryptocurrencies, such as Bitcoin and Ethereum, and the stablecoin Tether. To this end, we utilize an autoregressive distributed lag (ARDL) bounds testing approach, analyzing monthly data from January 2019 to April 2025. The empirical results indicate that the responses of volatile and stable cryptocurrencies to the Fed’s monetary policy differ. In the long term, the prices of Bitcoin and Ethereum tend to react positively to the Fed’s monetary policy changes, whereas Tether’s prices experience a negative impact. We recommend novel policy implications in this study based on these empirical findings. Full article

This study examines the role of supervisory frameworks in shaping the risk management behavior of Greece’s four systemic banks during the period of 2015–2024. It explores how regulatory reforms under Capital Requirements Regulation II, Basel III, and European Central Bank oversight influenced capital adequacy, asset quality, and liquidity metrics. Employing a quantitative methodology, this study analyzes secondary data from Pillar III disclosures, annual financial reports, and supervisory statements. Key risk indicators (capital adequacy ratio, non-performing exposure ratio, liquidity coverage ratio, and risk-weighted assets) are evaluated in conjunction with regulatory interventions, such as International Financial Reporting Standards 9 transitional relief, the Hercules Asset Protection Scheme, and European Central Bank liquidity measures. The findings reveal that enhanced supervision contributed to improved resilience and regulatory compliance. International Financial Reporting Standards 9 transitional arrangements were pivotal in maintaining capital thresholds during stress periods. Supervisory flexibility and extraordinary European Central Bank support measures helped banks absorb shocks and improve risk governance. Differences across banks highlight the impact of institutional strategy on regulatory performance. This study offers a rare longitudinal assessment of supervisory influence on bank risk behavior in a high-volatility Eurozone context. Covering an entire decade (2015–2024), it uniquely links institutional strategies with evolving regulatory frameworks, including crisis-specific interventions such as International Financial Reporting Standards 9 relief and asset protection schemes. The results provide insights for policymakers and regulators on how targeted supervisory interventions and transitional mechanisms can enhance banking sector resilience during protracted crises. Full article

The extensive environmental pollution caused by petroleum-based plastics highlights the urgent need for sustainable, economically viable alternatives. The practical challenge of enhancing polyhydroxybutyrate (PHB) production with cost-effective agro-industrial residues—rice-bran and corn-flour hydrolysates—has been demonstrated. Bacillus bingmayongensis GS2 was isolated from soil samples collected at the Pirana municipal landfill in Ahmedabad, India, and identified through VITEK-2 biochemical profiling and 16S rDNA sequencing (GenBank accession OQ749793). Initial screening for PHB accumulation was performed using Sudan Black B staining. Optimization via a sequential one-variable-at-a-time (OVAT) approach identified optimal cultivation conditions (36 h inoculum age, 37 °C, pH 7.0, 100 rpm agitation), resulting in a PHB yield of 2.77 g L⁻¹ (66% DCW). Further refinement using a central composite response surface methodology (RSM)—varying rice-bran hydrolysate, corn-flour hydrolysate, peptone concentration, and initial pH—significantly improved the PHB yield to 3.18 g L⁻¹(74% DCW), representing more than a threefold enhancement over unoptimized conditions. Structural validation using Fourier Transform Infrared spectroscopy (FTIR) and Proton Nuclear Magnetic Resonance spectroscopy (¹H-NMR) confirmed the molecular integrity of the produced PHB. That Bacillus bingmayongensis GS2 effectively converts low-cost agro-industrial residues into high-value bioplastics has been demonstrated, indicating substantial industrial potential. Future work will focus on bioreactor scale-up, targeted metabolic-engineering strategies, and comprehensive sustainability evaluations, including life-cycle assessment. Full article

Large-scale land restoration projects require on-the-ground monitoring and evidence-based evaluation. This study, part of the World Bank Burundi Landscape Restoration and Resilience Project (in French: Projet de Restauration et de Résilience du Paysage du Burundi-PRRPB), examines the impact of slow-forming terraces on surface conditions and erosion in Isare (Mumirwa) and Buhinyuza (Eastern Depressions), Burundi. Slow-forming, or progressive, terraces were installed on 16 December 2022 (Isare) and 30 December 2022 (Buhinyuza), featuring ditches and soil bunds to enhance soil and water conservation. Twelve plots were established, with 132 measurement pins, of which 72 were in non-terraced plots (n_PT) and 60 were in terraced plots (PT). Monthly measurements, conducted until May 2023, assessed erosion reduction, surface conditions, roughness, and soil thickness. Terracing reduced soil loss by 54% in Isare and 9% in Buhinyuza, though sediment accumulation in ditches was excessive, especially in n_PT. Anti-erosion ditches improved surface stability by reducing slope length, lowering erosion and runoff. Covered Surface (CoS%) exceeded 95%, while Opened Surface (OS%) and Bare Surface (BS%) declined significantly. At Isare, OS% dropped from 97% to 80%, and BS% from 96% to 3% in PT. Similar trends appeared in Buhinyuza. Findings highlight PRRPB effectiveness in this short-term timeframe, and provide insights for soil conservation in steep-slope regions of Central Africa. Full article