Open Access Original Research Article

The Impacts of Future Orientation and Financial Literacy on Personal Financial Management Practices among Generation Y in Malaysia: The Moderating Role of Gender

Rudy Ansar, Mohd Rahimie Abd Karim, Zaiton Osman, Muhamad Shameer Fahmi

Asian Journal of Economics, Business and Accounting, Page 1-10
DOI: 10.9734/ajeba/2019/v12i130139

This paper investigated the relationship between future orientation and financial literacy toward personal financial management practices among Generation Y in Malaysia, particularly amongst those who were born between 1981 and 2001 coming from Sabah, Sarawak, Selangor, Kuala Lumpur, Johor, and Penang. A total of 146 valid questionnaires were used for the analysis carried out in this paper. Data was analyzed using the Structural Equation Modelling (SEM) technique using Partial Least Squares (PLS). The outcomes displayed that future orientation and financial literacy have significantly positive effect on personal financial management practices. Nonetheless, gender does not have a moderating role between financial literacy and future orientation on personal financial management practices among Generation Y in Malaysia. The study’s outputs may serve as guidelines by the Malaysian government agencies and policy makers, apart from extending the body of knowledge to shed some light on personal financial management practices. The findings of the study also offer an alternative approach in addressing the escalating bankruptcy issues faced by Generation Y in Malaysia.

Open Access Original Research Article

Deficit Financing and Economic Growth in Nigeria: 1987-2017

John Okachukwu Okah, Kenechukwu Origin Chukwu, Amalachukwu Chijindu Ananwude

Asian Journal of Economics, Business and Accounting, Page 1-13
DOI: 10.9734/ajeba/2019/v12i130140

The debt profile of the Government of Nigeria has been on the increase from 1986; climaxing during the worst recession Nigeria economy has entered into after the structural adjustment programme (SAP). With the reduction in government revenue occasioned by the fluctuations of price of crude oil in the international market and absolute recklessness on the part of successive government, the government has no option than to borrow to fund its day to day activities.  This study examined the effect of deficit financing on economic growth of Nigeria from 1987 to 2017. Vector Autoregressive Estimates was used in estimating the model.  The analysis performed revealed that deficit financing has positive but insignificant effect on Nigerian economic growth. We recommended that government should strive to diversify its revenue base and also demonstrate a high level of transparency in both its monetary and fiscal operations among others.

Open Access Original Research Article

Market Making and the Role of Intermediary Firms in Marketing of Genetically Modified Livestock Products

Morteza Haghiri

Asian Journal of Economics, Business and Accounting, Page 1-11
DOI: 10.9734/ajeba/2019/v12i130141

Agricultural biotechnology, by changing the process of agricultural production in the agri-food sector has posed serious challenges for the industry. The fundamental problem was that the biotechnology industry, with tremendous vertical integration from the research sector through to farm gate, has still relied upon decentralized markets to commercialize their products.  Their innovations have for the most part been left to find their consumer markets.

This work was done by an illustrated review of the existing literature and reports.

The major contribution of this study to the economic literature is three-fold. First, it addresses an important issue in marketing GM livestock products. Second, the study discusses the theory of market microstructure in production economics. Third, it provides policy implications for managers and policymakers in the industry.

This paper examined the theory of market-making and the role of intermediaries in creating new markets and hypothesizes that without intermediation in the biotechnology market, the optimal market size will not be realized, reducing private research investment and depriving society of the potential social gains of this new technology.

Open Access Original Research Article

Does Government Borrowing Crowd Out Private Sector Investment in Zimbabwe?

Smart Manda

Asian Journal of Economics, Business and Accounting, Page 1-9
DOI: 10.9734/ajeba/2019/v12i130142

This paper assesses the impact of government borrowing on the private sector credit in Zimbabwe using monthly data from 2012 to 2018.  The increase in public debt from 2012 raised concerns over the possible crowding-out effect of government borrowing and spending on domestic investment in Zimbabwe. Using a multivariate regression model and an unrestricted Vector Auto-regression (VAR) model, the paper finds a negative but not significant relationship between credit to government and credit to private sector, implying that credit to government may not have crowded-out private credit. The impulse response functions also indicate that the response of credit to private sector to shocks from government sector was not significant. The results from the variance decomposition analysis, however, indicates that in the sixth period, about 31.2 percent of the variation in credit to private sector was explained by changes in the consumer price index. Other control variables, notably the volume of manufacturing index, interest rates and credit to government did not have a significant influence on the changes in credit to private sector.

Open Access Original Research Article

Gender, Educational Qualification and Ethnicity Differences in Personal Financial Management Practices among Generation Y in Malaysia

Rudy Ansar, Rudy Ansar, Mohd Rahimie Abd Karim, Zaiton Osman, Muhamad Shameer Fahmi

Asian Journal of Economics, Business and Accounting, Page 1-7
DOI: 10.9734/ajeba/2019/v12i130143

This paper examines gender, educational qualification, and ethnicity differences in personal financial management practices among Generation Y in Malaysia. The issue of this study concerns the number of young generation identified as Generation Y, who has been declared bankruptcy keep on increasing year-to-year. Therefore, this study focuses on Generation Y, who was born from 1981 to 2001 and included respondents from all the states of Malaysia. The Statistical Package for the Social Sciences version 25.0 (SPSS 25.0) was used to analyse a total of 119 valid questionnaires collected using the Chi-Square test. The findings displayed that only ethnicity differences in personal financial management practices among Generation Y in Malaysia were found. The results of the study can be used as guidelines by the Malaysian government agencies and policymakers. They can also enhance their knowledge regarding financial needs and education to improve peoples’ personal financial management practices as well as being an alternative in finding the solution to control the bankruptcy problem among members of Generation Y in Malaysia.