Current Issue : April-June Volume : 2026 Issue Number : 2 Articles : 5 Articles
The global financial crisis of 2008 caused significant problems, primarily in the financial sector, particularly in banks. One of the most serious consequences was the substantial increase in nonperforming loans (NPLs). In some countries, the financial crisis evolved into severe economic and social turmoil, prompting states to resort to special borrowing through the EU and the IMF, which in turn exacerbated the crisis. This article examines the evolution of NPLs across five European countries with distinct characteristics. First, two Eurozone countries that were forced to borrow from the EU and the IMF were Greece and Cyprus. Then, another Eurozone country, France, which did not suffer similar borrowing, and two countries outside the Eurozone, the United Kingdom and Poland. Do the evolution of NPLs have any similarities between the categories of these countries? What factors influenced the evolution of NPLs? This examination spans the period from 2008 to 2023. This study is the first to compare NPLs by distinguishing these specific categories of countries and therefore acquires particular importance in the relevant bibliography. To carry out the study, the evolution of NPLs among the five countries was examined. The study then examines the extent to which macroeconomic factors, such as GDP, public consumption, and unemployment, are related. The study finds that Greece and Cyprus, which entered EU and IMF lending programs, have the highest NPL ratios. There is a strong correlation between NPLs, unemployment, and public consumption, but not with GDP....
This paper introduces a bibliometric review of the work in the field of intersection of economic valuation and heritage tourism that was published between 2004 and 2024. The analysis adopted descriptive statistics, the visualization into networks, and thematic analysis as based on publications obtained via Web of Science Core Collection to study how the field develops, is structured the way it does, and how it changes in its theme. The findings indicate the existence of a fast-growing yet disproportionate research community. Although production in publications is predominantly influenced by heritage-based emerging and transitional economies, theory and method orientated studies with stronger applicability are more often popularized in terms of traces. The co-citation analysis demonstrates that the field is mainly based on intellectual foundation of marketing, behavioral, and tourism research, but the keyword analysis reveals that the economic valuation is usually incorporated in the management-and-tourism-related research instead of being constructed as a specific theoretical focus of research. The finding of the keyword burst is also important to indicate a progressive change in the research interest toward the sustainability, governance, and long-term effects. Generally, the results identify a research gap in the literature and the necessity to better integrate the conceptual approach and to tighten the connection between economic evaluations studies and heritage governance....
This study investigates the nexus between sustainable development indicators and economic growth across seven strategic emerging economies: China, Turkey, Brazil, Malaysia, Iran, Egypt, and Argentina, from the period 2002 to 2023. Utilizing panel data regression analysis, the Random Effects model was identified as the most appropriate estimation method based on rigorous statistical criteria. The empirical results reveal that R&D expenditures, health expenditures, the renewable energy share, and CO2 emissions exert a positive and significant influence on GDP. In contrast, education expenditures were found to have a negative and statistically insignificant effect on growth. This study emphasizes the necessity of supporting vital sectors, such as agriculture and industry, while simultaneously adopting effective environmental policies to reduce emissions and ensure long-term sustainable development goals in the analyzed countries....
This study investigates how financial literacy, FinTech adoption, and financial attitudes shape economic decision-making among millennials in Lebanon, a crisis-affected emerging economy. The study examines whether enhancing financial literacy can strengthen economic resilience through improved financial behavior, with financial attitudes acting as a mediator. Guided by Behavioral Finance Theory, the study employs a quantitative approach using data from 390 Lebanese millennials collected via a structured questionnaire. Structural equation modeling was applied to test direct and mediating effects. Both financial literacy and FinTech adoption were found to significantly influence millennials’ financial behavior, with financial literacy emerging as the stronger predictor. The findings also revealed that financial attitude significantly mediates the link between literacy and behavior, suggesting that financial knowledge alone is insufficient without attitudinal reinforcement. This study fills a critical empirical gap in the MENA region by offering evidence from a highly under-researched, crisis-affected emerging market. It introduces an integrated model combining technological, cognitive, and attitudinal dimensions of financial behavior. The study offers practical implications for policymakers, financial institutions, and international development actors seeking to strengthen financial inclusion and household stability in similar turbulent contexts....
This research explored factors shaping the use of QR code mobile payment systems in Cambodia, considering aspects like service quality, trust, risk perception, user experience, and social influence. It draws on an integrated framework combining elements of established technology adoption models, tailored to address the dynamics of emerging markets. Data from 350 survey respondents were analyzed using a statistical modeling approach to test the proposed relationships. Findings suggest that service quality enhances trust and lowers perceived risk. Higher perceived risk tends to reduce the intent to use these payment systems, while positive user experiences and social influences significantly encourage adoption. The study underscores the importance of trust and service quality in promoting usage in developing markets like Cambodia, where issues such as security concerns and limited digital literacy persist. By incorporating trust and service quality into traditional models, this work offers a refined perspective suited to the Cambodian setting....
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