Jurnal Inovasi Ekonomi

Financial sector development and economic growth in Nigeria

2022-11-14T09:38:24+07:00

This study employs the Autoregressive Distributed Lag technique (ARDL) to investigate the impact of financial sector development on economic growth in Nigeria, considering previously overlooked variables. The findings from the Bound Co-integration Test indicate a long-run relationship between financial sector development and economic growth. Specifically, credit to the core private sector, market capitalization, total savings, and monetary policy rate are identified as drivers of economic growth, while credit to the government hampers growth. The study concludes that financial sector development facilitates economic growth by mobilizing and channeling financial resources effectively to the core private sector. To further promote economic growth, the study recommends the formulation of effective policies to enhance capital market activities in mobilizing long-term idle funds. Additionally, the government should ensure the judicious utilization of credit provided by the financial sector. This study contributes to existing research by reaffirming the influence of financial development on economic growth and considering crucial variables such as credit to the core sector, credit to the government, and monetary policy rate.

From spirituality to innovation: How spiritual leadership drives mosque management innovation

2023-06-23T10:49:56+07:00

In recent years, there has been increased acknowledgment of spirituality in the workplace and its potential influence on organizational outcomes, including creative work behavior. This study examines the impact of spiritual leadership on driving innovative work behavior within mosque management teams in Surabaya, with a specific focus on the mediating role of spiritual well-being. Survey data from 106 team members were analyzed using Structural Equation Modeling (SEM), revealing that spiritual leadership positively influences creative work behavior, with spiritual well-being partially mediating this relationship. This research contributes to the existing literature on the intersection of spirituality and innovation by investigating how spiritual leadership fosters an innovative culture within mosque administration. Furthermore, it extends the application of spiritual leadership theory to religious non-profit organizations, an area that has remained unexplored. The findings have practical implications for mosque leaders and managers seeking to promote innovation within their organizations by emphasizing spiritual leadership and well-being to enhance their teams' innovation capabilities.