International Journal of Advances in Management and Economics

BACKCASTING METHODOLOGY TO ANALYZE EMERGING TECHNOLOGIES THROUGH LITERATURE REVIEW

Mallamaci Valentina — 2024-10-17

Companies and universities are investing in innovation and technology R&D. To avoid the risk of medium-long-term non-sustainability due to uncertain technology evolution, opportunity cost should be used to choose which technology to invest in. Systematic review and narrative literature analysis evaluate new technologies. Past-Facing and Future-Facing approaches help choose the optimum technology. The methodology has five steps: selection of databases and sources to be subjected to the tested analysis procedure; validation of the selected papers; transition to blinded mode to ensure impartiality; and establishment of the team of experts to apply the evaluation procedures of expert elicitation and quality assessment through SANRA and SCAST tests, which comprise the new experimental SANSER test. Systematic and narrative reviews are examined differently. The first is NR4CASTING, which identifies scientific papers to generate a collection validated by the procedures provided to compose the new narrative review. SR4CASTING classifies scientific papers to build a literature review with references from selected and assessed studies. Our narrative and systematic literature analysis and backcasting method maximizes future-focused decision-making. Thus, NR4CASTING and SR4CASTING allow us to advise the decision-maker on the optimum firm technological evolutions while minimizing switching costs and optimizing expertise and resources.

Keywords: Backcasting, Literature review, Narrative review, Systematic review, Technological innovations.

IMPACT OF INDIAN DIASPORA OF US/UAE ON INDIAN ECONOMIC GROWTH

Joelle Mukherjee — 2024-10-18

This research paper explores the multifaceted contributions of the Indian diaspora to India’s economic development, highlighting their role in remittances, investments, entrepreneurship, and cultural diplomacy. As the largest recipient of remittances globally, India benefits significantly from financial inflows that support local economies and enhance foreign exchange reserves. The diaspora's involvement in critical sectors such as information technology, healthcare, real estate, and trade demonstrates their impact on India's growth and bilateral relations with host countries, particularly the UAE and the US. However, challenges such as bureaucratic hurdles, lack of reliable data, and emotional disconnection hinder the diaspora's engagement. By leveraging theories such as Network Theory and Home Bias Theory, the paper analyzes the diaspora's investment patterns and their implications for India's economic landscape. The prospects for the Indian diaspora are promising, with potential for increased investment and knowledge transfer. To maximize these benefits, effective collaboration between the Indian government and the private sector is essential. This paper concludes that addressing the challenges faced by the diaspora and fostering a supportive environment can enhance their contributions, ultimately benefiting India and its global community.

Keywords: Diaspora, Economy in India, Economic Growth, Home Bias Theory, Marxism and Realism.

THE IMPACTS OF HOUSEHOLD CONSUMPTION EXPENDITURES ON ECONOMIC GROWTH: INSIGHTS FROM NIGERIA

Friday Barnabas Balogun — 2024-10-26

This study examines the impacts of household consumption expenditures alongside its determinants – Money supply, Inflation rate, Interest rates, foreign direct investment, exchange rates, past and present on Nigeria’s economic performance using Descriptive statistics, Cointegration analysis, and Autoregressive Distributed Lag (ARDL) Model/Error Correction Model (ECM) estimation techniques to analyze the data covering 1990 to 2022. The paper found a stable long-run relationship between household consumption expenditures, its determinants and economic growth in Nigeria. The empirical findings highlight the significance of household consumption expenditures, interest rates, money supply, inflation rate, FDI, and exchange rates in driving Nigeria’s long-term and short-term economic performance. The results show that significant changes in the composition of household incomes and consumption expenditures pattern can transform the national output and industrial composition of the Nigeria economy. The study concludes by recommending different policies and strategies for better economic performance in Nigeria. Among the policies recommended are that policymakers in Nigeria should reexamine and update the current monetary and fiscal policy and use the combination of the updated monetary and fiscal policy to effectively manage and spur economic growth in line with Nigeria economic, social and political dynamics to cope with current realities. Designing and implementing a mix of short-term and long-term strategies for economic stability, with a comprehensive approach to addressing immediate challenges and long-term structural issues for sustainable and inclusive economic growth in Nigeria is pertinent in the light of current realities.

Keywords: Household Consumption Expenditures, ARDL/ECM Analysis, Nigeria, Economic Growth, Impacts.

A STUDY ON FACTORS INFLUENCING ADOPTION OF DIGITAL TRANSACTIONS BY STREET-FOOD VENDORS

Banri Sungoh — 2024-11-19

Digital transactions, encompassing a wide range of electronic payments such as online banking, mobile payments, have become an integral part of daily life for individuals and businesses alike. This shift from traditional cash-based systems to digital platforms is driven by advancements in technology, increasing internet penetration, and the growing demand for convenience, speed, and security in financial transactions. To benefit from the adoption of digital transactions, it is essential to understand the factors influencing the adoption of digital payment methods among street food vendors. The paper aims to address this aspect by conducting a comprehensive study focused on the street food vendors of Guwahati city.

Keywords: Digital transactions, Street food, Street vendor.