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This Author published in this journals
All Journal Economic Journal of Emerging Markets
Chandan Kumar Roy
Bangladesh Bank, Dhaka, Bangladesh
Economics, Econometrics & Finance

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The effects of foreign direct investment and trade openness on economic growth amid crises in Asian economies Rabiul Hossain; Chandan Kumar Roy; Rima Akter
Economic Journal of Emerging Markets Volume 14 Issue 2, 2022
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol14.iss2.art7

Abstract

Purpose ― The main objective is to examine the effects of foreign direct investment and trade openness on economic growth (SDG-8.1) about economic growth amid crises in 30 Asian economies. Design/methodology/approach ― The effects of FDI and trade openness on economic growth in the Asian region are examined using the fixed-effects model, panel corrected standard errors (PCSE), and generalized method of moments (GMM) estimations. The study also measures the long-run effects of the estimates and the granger causality tests. Findings ― The findings revealed that both FDI and trade openness contribute to boosting economic growth in Asian economies, and the effect is also persistent in the long run. We also find that the Asian and global financial collapse shocks in 1997-1998 and 2008-2009, respectively, adversely affected the region's economic growth. Additionally, the economic growths of some Asian countries are below the targeted level set in SDG-8.1.  Practical implications ― The Asian countries should adopt appropriate policy measures for encouraging the inflow of FDI and cross-border trade of goods and services as it is evident that the inflow of FDI and open trade will improve local human capital and technological capabilities of the industries, which will ultimately help to enhance stable economic growth. Originality/value ― This study is unique in accompanying the Asian financial crisis and world recession in studying the effects of FDI and trade openness on SDG-8.1 in Asian economies. 
Measuring fintech-driven financial inclusion for developing countries: Comprehensive Digital Financial Inclusion Index (CDFII) Banna Banik; Chandan Kumar Roy
Economic Journal of Emerging Markets Volume 15 Issue 2, 2023
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol15.iss2.art3

Abstract

Purpose ― The main objective of this study is to develop a comprehensive digital financial inclusion index (CDFII) that accounts for technology-driven financial inclusion and to compare it with a traditional financial inclusion index (TFII) to enhance the measurement of fintech-driven financial inclusion across countries.Methods ― The study employs a three-stage principal component analysis (PCA) to construct the CDFII and TFII using the latest available data from 31 developing countries during the period 2015-2021. The CDFII incorporates a new sub-index measuring individual literacy levels for using financial services, along with existing sub-indices capturing the penetration, availability, and usage of DFS. By integrating digital financial inclusion (DFII) and TFII, the overall CDFII is estimated.Findings ― The findings reveal that the levels of DFII and CDFII are higher than TFII for most of the economies examined. This indicates the significant impact of technology-driven financial inclusion in expanding access to formal banking and non-banking financial services for previously unbanked populations.Implication ― The study implies that policymakers and researchers should prioritize the integration of technology-driven financial inclusion indicators, such as the comprehensive digital financial inclusion index (CDFII), into their assessments and interventions to ensure a more accurate and effective approach to promoting inclusive and sustainable economic development.Originality ― This study introduces the CDFII as a novel comprehensive index that addresses the shortcomings of traditional financial inclusion indices. By incorporating individual skill levels and considering dimensions specific to DFS, the CDFII provides a more accurate representation of fintech-driven financial inclusion levels. This contributes to the existing literature on financial inclusion measurement and provides a valuable analytical tool for researchers and policymakers.
Co-Authors Banna Banik Rabiul Hossain Rima Akter