This study aims to determine the relationship between financial development and economic growth with respect to the state of institutional quality on 3 Gulf Cooperation Council (GCC) countries, namely, Oman, Qatar and United Arab Emirates from 2008 to 2022. Using the dynamic generalized method of moments in a panel data analysis, we found that financial development has a positive effect on economic growth. Equally important, the institutional quality plays a significant and positive role in economic growth. More interestingly, the study finds that the institutional development is complementary to financial development. As a policy implication, we recommend that policymakers place special importance on implementing policies that result in the deepening of financial systems, including a sound institutional framework. Thus, by promoting the development of a country’s financial system, economic growth will be accelerated.

Keywords: Financial development, Institutions, Economic growth, Panel data analysis.
JEL Classification: F23, F34, F43.

It is of both practical and theoretical importance to investigate the impact that exchange rate volatility exert on foreign direct investment (FDI) inflows. This endeavor aims to assist governmental entities in the formulation of targeted policies that facilitate sustainable FDI inflow and promote enduring economic growth. To this end, the influence of exchange rate volatility on FDI inflows was systematically analyzed for Nigeria, spanning the period from 1986 to 2022. The series of real exchange rate volatility was computed employing the generalized autoregressive conditional heteroscedasticity (GARCH) methodology. Following the execution of an initial unit root test on the series, the Autoregressive Distributed Lag (ARDL) approach was utilized to estimate the model pertinent to this study. The GARCH assessment of real exchange rate volatility revealed that the Nigerian real exchange rate underwent persistent fluctuations throughout the study period. The empirical findings indicated the presence of both long-term and short-term negative impacts of exchange rate fluctuations on FDI, which were statistically significant. In conclusion, the continuous depreciation of the naira (¦ ) in relation to the USD has served to deter FDIs in Nigeria. These findings engender policy recommendations aimed at enhancing FDI through adept management of exchange rate.

Keywords: Exchange rate, Volatility, FDI, GARCH, ARDL, Nigeria

This study examines the relationship between financial system dimensions and economic growth in Seychelles (1990–2021) using the SVAR model. Findings show that financial system activity, depth, and efficiency
significantly impact growth. The study uniquely analyzes Seychelles as an international financial center (IFC) with innovative financial products. Results offer policy guidance, emphasizing savings mobilization, productive
investments, and FinTech adoption to enhance financial intermediation and access to services. Policymakers should implement strategies that foster financial development, ultimately driving economic growth in Seychelles
and similar economies.

Keywords: financial credit; financial depth; financial efficiency; economic growth; SVAR; Seychelles
JEL classification codes: E44, O16, C32, O11, G21.

The removal of fuel subsidies in Nigeria raised concerns about its impact on household financial health. While the policy aimed to address fiscal challenges and reallocate funds, its effects on household financial
health required examination. This study examined the impact of fuel subsidy removal (FSR) and price changes on Nigerian households. Using the autoregressive distributed lag and error correction model, the study analysed secondary data on household income, consumption, savings, debt, and prices from 1981 to 2024. The findings showed that, in the short term, fuel subsidy removal increased household income and consumption due to higher wages and rising fuel prices. However, this was offset by a decline in savings, as households prioritised consumption. The impact on household debt was mixed, with a temporary increase observed. Price changes had a limited effect on financial health compared to the direct impact of FSR. The study concluded that while fuel subsidy removal offered short-term benefits, it strained savings and long-term financial stability. The government should redirect subsidy savings into infrastructure and monitor reforms to ensure long-term economic growth and household financial health.

Keywords: Fuel Subsidy, Consumer Price Index, Household Financial Health.
JEL: E20, E21, E31, H23.

This study investigates distress migration among Vidarbha’s tribal communities, where agrarian crises, landlessness, and climate variabilityevidenced by Rural India Online (March 22, 2023)-push 30–40% of PVTG
households to migrate, analyzing socio-economic and environmental drivers through a qualitative, secondary-source methodology integrating government reports and field observations (Ministry of Tribal Affairs (MoTA) 2023; Azim Premji University, 2020). It examines exploitation at urban destinations, revealing trafficking risks and wage disparities for tribal women (Frontline, 2024), worsened by corruption in schemes like MGNREGA (Down To Earth, 2023). Recommendations include enhancing irrigation, improving fund utilization, and fostering localized livelihoods to curb migration and empower tribes (Maharashtra Govt., 2023). Moreover, the Livelihoods Approach (Scoones, 1998) provides insight into how tribal households adapt to stressors by diversifying income sources, often through migration. This framework highlights the interplay of natural (e.g., drought), human (e.g., skills), and social (e.g., exclusion) capitals, which are depleted in Vidarbha, driving tribes into precarious urban labour markets. Together, these theories frame migration as a multi-layered phenomenon rooted in ecological fragility, economic deprivation, and institutional failures, offering a robust lens for analyzing Vidarbha’s tribal context.

Keywords: Distress Migration, Tribal Communities, Vidarbha, PESA
JEL classification: J61, O15 , Q54

This study examines the joint effects of dividend announcements on firm value and stock liquidity, using capital structure as a moderating factor in these relationships. A Difference-in-Differences (DiD) approach
combined with Ordinary Least Squares (OLS) regression was applied as a panel data analysis on a sample of 54 firms listed on both the Saudi Exchange (Tadawul) and Egyptian Exchange (EGX) from 2020 to 2023. Few firms were chosen because financial institutions such as banks and insurance companies was excluded from research sample in both markets. Also, this period was chosen to account for the effects of COVID-19 while excluding market performance data before the pandemic, in addition, most actively traded firms from the main indices in both markets was selected. The impact of dividend announcements on both stock liquidity and firm value yields diverse conclusion; Findings reveal that dividend announcements significantly and positively affect stock prices and, consequently, firm value in the Saudi market, but have no significant impact on trading volume in the Egyptian market. Market efficiency substantially affects abnormal returns and firm value. According to the regression analysis, dividends did not significantly impact firm value as measured by Tobin’s Q, but were found to negatively affect stock liquidity. However, the interaction between dividends and capital structure significantly and positively affects both stock liquidity and firm value in both markets. This study contributes to the corporate finance literature by providing empirical evidence from two of the largest and oldest financial markets in the Arab world: Egyptian and Saudi stock markets.

Keywords: Dividends; Stock Liquidity; Firm Value; Capital Structure; Market Efficiency; Saudi Exchange (Tadawul); Egyptian Exchange (EGX).

Undergraduate economics students are not exposed to feminist writings, given the male domination governing curriculum design and readings in the economics profession. Keeping in mind these students as our audience, how Diane Elson and Bina Agarwal have put forward equality agendas in the study of economics and development is highlighted. This is followed by an account of how the feminist movements struggle to translate such visions into ground realities. On this basis, the case for teaching feminist economics as a compulsory undergraduate economics subject is suggested so that students can benefit from its rich body of literature.

Keywords: Economic analysis, Development, Feminist movements, Equality studies.