Abstract:The role of foreign direct investment (FDI)

Purpose Amongst the major concerns of sub-Sahara Africa are the rising external debt and poor performances in governance. This paper aims to lend a voice to the relevance of governance on the relationship between external debt and economic growth in selected five sub-Saharan African (SSA) countries. Design/methodology/approach Using available data from the World Governance and Development Indicators, between 1996 and 2016, the study uses the fully-modified OLS technique after establishing the absence of unit root and existence of long-run relationship amongst the variables of the model. Findings The findings confirm a non-linear relationship between external debt and economic with a positive net effect of $5.05 increase in economic performance for a US$ rise in external debt. While the index of governance depicts a negative association with economic growth, the indicators show mixed results. The interaction effect of external debt and governance on economic performance explain that improved governance quality reduces its negative effect on economic performance by US$1.288 (with a total effect of –4.180 + 1.288*EXDBT); it equally enhances the (net) positive impact of external debt by US$1.288 (with a total effect 5.05 + 1.288*IQ). Practical implications The governments of the selected countries are, therefore, advised to seek other means of financing their expenditure while curbing financial mismanagement and its long-term impacts on growth. Also, governance infrastructures should be improved to restore both domestic and foreign investors’ confidence so that more private capitals may be attracted in lieu of excessive borrowings. Originality/value The research is the first to comprehensively examine the nexus between external debt, governance and economic growth in the selected countries, given their external debt position in SSA. This includes examining the impacts of each of the governance indicators and the comprehensive index of governance on growth. Furthermore, the study adds to the literature by examining the interaction effects of external debt and governance on economic growth of these countries. This gives both the partial and total estimates of the effects of external debt and governance on economic growth in the countries under consideration.

Malaysia has pledged to reduce carbon emissions by 45% in year 2030 and to attain a completely carbon neutral status by year 2050. For those purposes, substantial measures and policies have been implemented geared towards green growth and sustainability, as stipulated in the 9 th , 10 th , and 11 th Malaysia Plans commencing from 2006 until 2020. Nevertheless, it is indeed a challenge in striking to achieve these targets due to reported increment in the total final energy consumption by 30% from 2010 until 2014. Demand for electricity in Malaysia has been expected to surge between 5% and 6% within these couple of years in line with nation urbanisation and economic progression. As such, a number of macroeconomic indicators that might have influenced Malaysia's electrical consumption had been analysed for the 1970-2016 period by estimating electricity consumption per capita demand function linked with economic growth, foreign direct investment inflows, trade liberalisation, population growth, urbanisation population growth, financial development, industrialisation, inflation, and household consumption expenditure. The analysis was conducted by using the Autoregressive Distributed Lag model. The estimation outcomes revealed the roles of economic progression and urbanization that led to increment in electrical consumption, whereas financial deepening and higher inflation linked to reduction. Such results enlighten significant insights for policymakers. For instance, since electricity consumption rises with urbanisation, it is essential that energy-efficient appliances are made relatively affordable and readily available for urbanites. The central bank also should play its part by lowering the lending rates so as to allow the financial institutions across the nation to offer attractive loans with lower financing cost to firms associated to renewable energy. With more companies being involved in cleaner alternative energy production, the nation is deemed to minimise its carbon emissions by decreasing its dependence upon coal to generate electricity.

Zakat is the most powerful Islamic instrument to support impoverished people around the world. Zakat helps to reduce poverty by increasing the empowerment level of mustahiq economics. However, ways in which the Zakat supply chain can be promoted need to be investigated. The objective of this study, the first of its kind, is to examine the role of Zakat hashtags in promoting the Zakat supply chain and mustahiq economics. Additionally, this study examines the role of Zakat awareness and marketing politics. To achieve the objective of this study, primary data were collected from various employees of Zakat collection institutions in Indonesia. The data were analysed using partial least square structural equation modelling (PLS-SEM). The study found that Zakat hashtags play a major role in increasing Zakat awareness. It also plays an important role in increasing marketing politics. Zakat awareness and marketing politics increase the Zakat supply chain, a mechanism that ultimately increases the empowerment level of mustahiq economics. .

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