iRASD Journal of Economics <div style="text-align: justify;"><em><span data-contrast="auto">i</span></em><em><span data-contrast="auto">RASD</span></em><span data-contrast="auto"> Journal of Economics (<em>i</em><em>RASD-</em>JOE) is an international research journal in the field of economic sciences. <em>i</em><em>RASD</em> Journal of Economics (<em>i</em><em>RASD-</em>JOE) is a double-blind peer</span><span data-contrast="auto">-</span><span data-contrast="auto">reviewed research journal</span><span data-contrast="auto"> that is published on a quarterly basis by the International Research Alliance for Sustainable Development - <em>i</em>RASD. <em>i</em><em>RASD</em> Journal of Economics (<em>i</em><em>RASD-</em>JOE) addresses the current issues being faced by the international economies and publishes articles related to the topics of economics and its related fields</span><span data-contrast="auto">.</span><span data-contrast="auto"> <em>i</em><em>RASD</em> Journal of Economics (<em>i</em><em>RASD-</em>JOE) is committed to providing open access to all its published content. </span></div> <div style="text-align: justify;"><span data-contrast="auto"><strong>Online ISSN:</strong> 2709-6742</span></div> <div style="text-align: justify;"><span data-contrast="auto"><strong>Print ISSN:</strong> 2709-6734</span></div> en-US (Dr. Muhammad Abrar ul Haq) (Mr. Hassan Ali) Thu, 25 May 2023 00:00:00 -0400 OJS 60 Role of Financial Performance of Global Islamic and Conventional Microfinance Institutions in Sustainable Development Goals Achievement <p>The achievement of sustainable development goals is a challenge for United Nations Development Programme member countries. Therefore, the purpose of this research was to explore and compare the role that the financial performance of global Islamic and conventional microfinance institutions playing achieving sustainable development goals by using non-traditional indexes. Further, the study also checked the moderating role of institution size in this relationship. Results indicate that the financial performance of both Islamic and conventional microfinance institutions is important to achieving sustainable development goals. Institution size as a moderator has a negative impact on the financial performance of conventional microfinance institutions in achieving sustainable development due to the possibility of commercialization. In terms of policy recommendations, the results of this study present several policy directions for both Islamic and conventional institution managers for both developed and developing countries. Both Islamic and conventional MFIs managers should focus on financial performance to achieve sustainable development goals. The managers should realize that in the case of increasing the institution's size, financial performance can be improved, but it also creates commercialization, making the main objective of serving the poorest customers difficult. This study also gives directions to the government, central bodies, and other regulatory authorities to develop policies for improving the financial performance of both Islamic and conventional microfinance institutions to achieve sustainable development goals. This study has taken two indicators of financial performance that are extensively discussed in the literature. For future studies, other financial performance indicators can be included in the study.</p> <p> </p> Amat-ul Mateen Noor, Mohammad Ayaz Copyright (c) 2023 Amat-ul Mateen Noor, Mohammad Ayaz Thu, 25 May 2023 00:00:00 -0400 An Assessment of the Literature on Childhood Vaccination from a Behavioural Economics Perspective <p>Childhood vaccination is a key public health strategy that safeguards lives and stop the spread of infectious illnesses. Despite the known advantages of vaccination, several nations still have poor immunization rates for children. There has been a rise in focus on concepts of behavioural economics to boost vaccination rates in the recent years. This literature review attempts to provide an overview of the data on behavioural economics interventional ability to boost immunization rates in children. After an extensive examination of electronic databases, we included 44 papers that satisfied the requirements for inclusion in this paper. Various behavioural economics concepts, such as default options, framing and messaging, incentives, and reminder systems, were studied in the study. Overall, the research suggests that raising vaccination rates for children may be accomplished by using behavioural economics concepts. Our review underlines the potential for behavioural economics to raise child immunization rates and provide guidance to academics, politicians, and healthcare professionals on how to create successful immunization programs.</p> Muhammad Javed Ramzan, Saqib Munir, Akram Ali Shah Copyright (c) 2023 Muhammad Javed Ramzan, Saqib Munir, Akram Ali Shah Tue, 30 May 2023 00:00:00 -0400 Relative Efficiency of Bonds and Sukuk: A Case of Selected Islamic Countries <p> This study compares the efficiency of bonds and Sukuk through a comprehensive analysis using descriptive statistics and regression techniques. The dataset includes outstanding Sukuk and bonds issued between 1993 and 2023 in Malaysia, Indonesia, Pakistan, Turkey, and Saudi Arabia. Objectives focus on examining mean coupon rate and yield-to-maturity (YTM) differences, exploring yield variations, and assessing efficiency levels. The analysis employs t-tests and ordinary least squares (OLS) regression. Findings indicate that bonds and Sukuk are sold at a premium, with mean coupon rates exceeding YTMs. A separate analysis supports the hypothesis that Sukuk may have higher mean YTMs and coupon rates than bonds. Sukuk exhibits significantly higher YTMs, indicating greater returns compared to bonds across the selected countries. Sukuk also demonstrates higher efficiency, reflected by a positive and significant coefficient, implying a more efficient yield-to-tenure ratio. Policy implications highlight the need to enhance regulation quality and transparency in disclosing yield differentials and risks and promote Sukuk as an attractive investment option. Diversifying investment portfolios and improving market liquidity is also recommended. Limitations include limited data availability, preventing analysis of individual countries and segregation between corporate and sovereign issues within Sukuk. In conclusion, this study provides valuable insights into the efficiency of bonds and Sukuk, offering policy recommendations. Disparities in mean coupon rates, YTMs, and efficiency levels underscore the importance of informed decision-making. Policymakers and investors can utilize these findings to understand the potential benefits of Sukuk and implement strategies to foster a more efficient and robust market. Further research is necessary to address data limitations and explore specific country-level dynamics and Sukuk classifications.</p> Hafiz M. Sarfraz Nihal, Syed Shabib Ul Hasan, Imran Majeed Copyright (c) 2023 Hafiz M. Sarfraz Nihal, Syed Shabib Ul Hasan, Imran Majeed Thu, 01 Jun 2023 00:00:00 -0400