economic development

Microfinance, recognized as a transformative approach in economic and social development, particularly within low-income communities, has garnered increasing attention. The primary objective of this study is to conduct a systematic review of microfinance literature utilizing a framework-based approach grounded in the ADO-TCM model, which employs the meta-synthesis approach. This framework provides an in-depth analysis of the structure of relevant studies, encompassing predecessors, research decisions, research outcomes (ADO), utilized theories, study contexts, and research methods (TCM). An extensive search in reputable scientific databases yielded 50 highly cited articles related to microfinance, which were then subjected to in-depth content analysis. Relevant constructs were extracted using open and axial coding strategies, leading to the identification of seven categories of predecessors, eight types of research decisions, and six primary outcomes. Furthermore, this study identified 14 theories, seven study contexts, and three research methods pertinent to microfinance. Consequently, the study highlights existing gaps in current research and suggests future research areas to enhance microfinance strategies and increase their impact.

Economic development is one of the major macroeconomic goals of every country. Today, the importance of economic development and its prominent role in building an idealised society is recognised for the nations, and this goal can be achieved with the help of strategic development. Energy use, financial development, and degree of trade openness are some of the major components influencing the economic development of a country. Therefore, in this research, the relationship between Energy consumption, financial development and openness of trade has been researched in the Middle East for the period 1990-2015 using econometric models. The reason for choosing this region is because the most important energy suppliers of the world has been taken into account. According to the results, there is a long-term causality due to financial development and the degree of commercial openness towards the energy consumption. However, there is no relationship between the degree of trade openness and financial development.