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Review of Business and Economics Studies

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Vol 12, No 2 (2024)
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6-16
Abstract

   Consumers’ growing concern for a healthy life has increased the production and use of eco-friendly products. Green marketing refers to the practice of conducting business based on its environmental benefits. Despite the health benefits of green marketing, many consumers remain unaware of it and its associated products.

   The study aims to provide consumers’ views and perceptions of green marketing in Kadapa, Andhra Pradesh, India.

   The research is based on the primary data collected from consumers using a structured questionnaire to understand their perceptions of eco-friendly or green products. The study identifies the importance of green marketing and the critical role of green products in people’s daily lives. The key factors influencing the buying decision of green products among customers have been identified, along with the reasons for the non-use of green products by other customers. The results show that consumers in Kadapa City, although aware of green marketing, have a low preference for buying green products. The study concludes that the highly influential factor that encourages customers to buy more green products is environmental motive, but the expensiveness of green products is the major reason for the low-level buying of green products by customers.

17-27
Abstract

   The authors consider the increasing unemployment rate for fresh graduates from business administration majors in developing countries, such as Oman.

   The abilities and skills students need to obtain employment after graduating from postsecondary education institutions are the subject of this study.

   The aim of this study was to identify the skills required by the Omani labor market as well as the employability skills gap among recent business administration graduates.

   The relevance of this study relies on proposing an evaluation model to assess the skills required by employers, specifically in the private sector, from fresh graduates of business schools.

   The authors adopted a quantitative research method to achieve the study’s objectives. The data were collected through a survey which was distributed to 101 fresh graduates from two higher education institutions. The findings reveal that soft skills, such as problem-solving, teamwork, dedication to work, a positive attitude, leadership, communication, critical thinking, negotiation, and pursuit of learning, are the most needed by graduates in all aspects. The study concluded that there is a demand for different types of soft and technical skills that are important for future jobs in the private sector. The study recommends more collaboration between universities and various stakeholders to review current academic programs and design more professional and vocational training programs. Furthermore, the study emphasizes the promotion of an entrepreneurial mindset to prepare graduates to develop creative business ideas and innovation to create their jobs.

28-41
Abstract

   This study aims to discover the perceptions of the critical success factors (CSFs) of the public and private sectors’ players that influence the implementation of public-private partnership (PPP) infrastructure projects in Bangladesh.

   Methods: A questionnaire survey was adopted to discover public and private sector players’ perceptions of the CSFs and success subfactors (SSF) of PPP projects. Based on the literature review, CSFs and SSFs were identified, and the agreement between respondents from the public and private sectors was tested. A total of 59 responses were collected and examined to reveal the perceived gaps between sectors and rank CSFs and SSFs. The Statistical Package for the Social Sciences (SPSS) software was used. The results show that the top-ranking factor was “economic viability”, followed by “appropriate risk allocation”, “sound financial packages”, “favorable investment environment”, and “reliable concessionaire”. It was also found that the perceptions of the public and private sectors were mixed.

   The key conclusion of this study is that the identified factors must be effectively addressed in order to develop consensus and engage relevant stakeholders in Bangladesh.

42-54
Abstract

   Emerging and fastest-growing markets in Africa are developing their financial environment to attract investors and position themselves as an upcoming generation of strong and influential markets.

   The subject of this study is public expenditure outlays used to stimulate economic activity in emerging markets in Africa.

   The purpose of this study is to isolate the main determinants of government spending and the role of institutional quality.

   The relevance lies in the significance of maintaining such expenditures at optimal levels to benefit the economy.

   The scientific novelty lies in the analysis of the main factors explaining government spending to support policy formulation in emerging markets.

   This study applied the autoregressive distributed lag (ARDL) model to test both long-term and short-term dynamics. Based on the results, the study demonstrated both joint and long-run causality between the selected variables and government expenditure. Short-term causality is not confirmed. The study concluded that the Wagner law still holds, in which economic growth is coupled with an increase in expenditure. The Economic freedom index is more effective in controlling government expenditure than the POLITY 2 variable. This study offers some policy implications.

55-73
Abstract

   This systematic review aims to provide a methodical analysis of the Blue Economy in the Indo-Pacific region, particularly from the perspective of Bangladesh, focusing on its growth trajectory, key stakeholders, policy frameworks, technological advancements, trade and investment trends, as well as challenges and opportunities for international business expansion.

   The methods employed a comprehensive search of electronic databases, and inclusion and exclusion criteria were applied to identify relevant studies for analysis. The results revealed that from 2000 to 2020, the Blue Economy sectors of the country, such as fisheries, aquaculture, maritime transportation, and tourism, saw notable development. International development agencies, corporations, academic institutions, governments, and civil society organizations are some of the major players in Blue Economy projects. The policy frameworks that facilitate the development of the Blue Economy include integrated ocean management, blue growth initiatives, maritime security and governance, and resilience and adaptation to climate change. Innovation and expansion in the Blue Economy sectors have been fueled by technological breakthroughs, such as autonomous underwater vehicles, renewable energy projects, remote sensing technologies, and marine biotechnology. Rising demand for sustainable goods and services, technical advancement, and regional collaboration have all contributed to an increase in trade and investment in Blue Economy industries internationally. The study concludes that there is significant potential for the Blue Economy in the Indo-Pacific region to drive economic growth, promote social progress, and ensure environmental sustainability. However, challenges such as regulatory complexity, access to finance, inadequate infrastructure, and environmental degradation need to be addressed to fully realize this potential. Addressing these challenges requires coordinated efforts from governments, businesses, academia, civil society organizations, and international development agencies, along with a focus on sustainable and inclusive development practices.

74-87
Abstract

   The aim of this comparative study is to analyze the STEM (Science, Technology, Engineering, and Mathematics) design curriculum policies in Taiwan and Thailand, focusing on their potential impact on national development.

   The research examines three key areas: 1) STEM educational development
policies; 2) curriculum frameworks; and 3) teacher professional development. The methods employed in this study include a comprehensive review of relevant literature, policy documents, and curriculum frameworks from both Taiwan and Thailand. The analysis involves a comparative approach to identify similarities, differences, and best practices in STEM education policies and implementation strategies. The results indicate that both Taiwan and Thailand recognize the importance of STEM education for driving innovation and economic growth. However, Taiwan demonstrates a more comprehensive STEM policy framework and a stronger commitment to developing a skilled workforce. Taiwan’s curriculum framework emphasizes hands-on, project-based learning, interdisciplinary integration, and the incorporation of modern technologies, fostering critical thinking, problem-solving, and collaborative skills among students. In contrast, Thailand is in the early stages of establishing STEM regulations and aligning curricula with industry needs. Thailand’s evolving curriculum framework shows promise in promoting creativity, critical thinking, and practical problem-solving abilities. Regarding teacher professional development, Taiwan has a well-established system of ongoing training and industry-school collaboration, while Thailand is in the process of creating a STEM teacher competency program.

   The key conclusion of this study is that Taiwan’s well-developed STEM policy framework, with its focus on curriculum design and teacher professional development, demonstrates a more holistic approach to promoting STEM education compared to Thailand.

   Despite Thailand’s early stage of implementation, the country is showing encouraging progress in aligning its STEM policies with national development goals. The findings suggest that a comprehensive and integrated approach to STEM education, encompassing policy development, curriculum design, and teacher professional development, is crucial for effectively promoting economic growth and innovation in both Taiwan and Thailand.

88-96
Abstract

   Countries all over the world focus on industrialization as a foundation for rapid economic development and unemployment reduction. Without stable external and domestic finance, we cannot achieve this goal. Financial volatility has an impact on a country’s industrialization process.

   The aim of this study is to determine how external and domestic credit volatility affect industrialization in Africa. Data for some selected countries for 1992–2020 was used.

   The author used the Prais-Winsten regression method with Panel Corrected Standard Errors (PCSE) to estimate and analyze the model. Descriptive and quantitative methods of analysis were also used to analyze the long-balanced panel data set for the 17 selected African countries with available data. The results showed a combination of positive and negative effects of financial volatility on industrialization in Africa. The study concludes that domestic credit volatility has adversely affected industrialization in Africa and recommends the development of financial institutions on the continent through recapitalization, skilled manpower development and innovative development of different financial instruments.



ISSN 2308-944X (Print)
ISSN 2311-0279 (Online)