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Volume II, Issue 1(3), 2026
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Mergers and acquisitions are noteworthy corporate strategic measure that assists the merged entity in external growth and afford it competitive advantage. The study tries to evaluate methodically the consequence of merger of United Western Bank along with Industrial Development Bank of India in 2006 and subsequent merger of IDBI bank with LIC of India in 2019 on their financial performance in terms of different financial parameters for the period from 2004-05 to 2024-25 dividing the entire period into two phases. Most of the financial indicators of Industrial Development Bank of India (IDBI) after undergoing merger with United Western Bank (UWB) in 2006 and LIC of India in 2019 exhibit noteworthy progress in their outfitted performance during post-merger period.
Post-merger regression analysis suggests that impact of management quality, capital adequacy and sensitivity to interest rate risk on profitability (ROA) parameter have improved much in comparison with entire study period’s regression analysis (both pre- and post-merger taken together) in both mergers. It can be inferred from the regression analysis that merger of these above two banks and subsequently with LIC has significant impact on earning capabilities of the Bidder Bank (IDBI) in terms of creating synergy through augmented managerial efficiency and subsequently by capital adequacy and non-interest income related sensitivity.
© The Author(s) 2026. Published by RITHA Publishing. This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited maintaining attribution to the author(s) and the title of the work, journal citation and URL DOI.
Article’s history: Received 22nd of December, 2025; Revised 17th of January, 2026; Accepted for publication 27th of January, 2026; Available online: 2nd of February, 2026; Published as article in Volume II, Issue 1(3), 2026.
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Why do some developing countries sustain coherent institutional trajectories over long periods, while others cycle between reform, crisis, and incomplete recovery? Conventional measures of institutional quality emphasize levels of democracy, governance, or rule of law, yet they struggle to explain why countries with similar scores exhibit sharply different patterns of institutional persistence and rupture. This article advances a structural perspective on institutional stability, conceptualizing institutions as interdependent subsystems whose coherence, or misalignment, shapes long-run developmental trajectories.
To operationalize this framework, the article introduces the Institutional Regime Stability Index (IRSI), a dynamic measure that captures the persistence of coherent institutional configurations rather than static institutional levels. Using comparative data for nine Latin American countries between 1900 and 2024, the analysis identifies three recurrent patterns of institutional development: resilient coherence, adaptive stability, and recurrent misalignment. Higher IRSI values are systematically associated with lower GDP growth volatility and greater capacity to attract foreign direct investment, linking institutional coherence to economic risk and policy credibility. By reframing institutional stability as a property of systemic coherence, the IRSI offers a new comparative lens for analysing development and institutional change.
© The Author(s) 2026. Published by RITHA Publishing. This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited maintaining attribution to the author(s) and the title of the work, journal citation and URL DOI.
Article’s history: Received 10th of January, 2026; Revised 27th of January, 2026; Accepted for publication 2nd of February, 2026; Available online: 6th of February, 2026; Published as article in Volume II, Issue 1(3), 2026.
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Government fiscal health is intrinsically linked to the cyclic regularity of national economic activity. However, fiscal management can be stabilized if the underlying governance framework maintains consistency in economic and social policy implementation. This study analyses the fiscal management of the South Korean government with a specific focus on the composite index of business indicators. The research explores the important role of strategic policy alignment in maintaining fiscal sustainability, evaluating production activity performance in the context of national finance. The study utilizes longitudinal trends from South Korea to assess how fiscal management adapts to business cycle indicators. Findings suggest that proactive and consistent policy governance reduces the need for disruptive fiscal adjustments during economic downturns. The research provides actionable insights for policymakers regarding the integration of business cycle signals into long-term national financial governance.
© The Author(s) 2026. Published by RITHA Publishing. This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited maintaining attribution to the author(s) and the title of the work, journal citation and URL DOI.
Article’s history: Received 10th of January, 2026; Revised 27th of January, 2026; Accepted for publication 10th of February, 2026; Available online: 15th of February, 2026; Published as article in Volume II, Issue 1(3), 2026.
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This study investigates the complex relationship between migrant remittances and sustainable economic development in Nigeria by disaggregating progress into Gross Domestic Product (GDP) and the Human Development Index (HDI). Adopting a longitudinal lens from 1994 - 2023, the research unpacks the "Remittance-Development Paradox" using an Auto-Regressive Distributed Lag (ARDL) model. Empirical results reveal a statistically significant long-run negative effect of remittances on the composite Economic Development Index (ECD) and HDI, suggesting that dollar inflows have failed to catalyse sustainable human capital gains. While foreign direct investment shows positive developmental potential, the paradox persists due to structural inefficiencies and consumption-heavy remittance patterns.
The findings challenge the traditional narrative of remittance-led prosperity and emphasize the need for sustainability-focused policies that redirect inflows into productive social investments. The study provides a critical research agenda for aligning financial inflows with the UN Sustainable Development Goals (SDGs) in sub-Saharan Africa.
© The Author(s) 2026. Published by RITHA Publishing. This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited maintaining attribution to the author(s) and the title of the work, journal citation and URL DOI.
Article’s history: Received 31st of January, 2026; Revised 9th of February, 2026; Accepted for publication 19th of February, 2026; Available online: 22nd of February, 2026; Published as article in Volume II, Issue 1(3), 2026.
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This paper develops an adaptive Hamilton-filter framework for detecting speculative bubbles in exchange rate markets. With the reformulation of the traditional bubble-crash model through a binary transformation, the proposed approach expresses bubble dynamics within a nonlinear regime-switching structure and derives recursive estimates of bubble continuation probabilities. Unlike conventional explosive root tests, the method provides real-time, time-varying conditional probabilities of speculative regimes.
The empirical application focuses on the USD - Iranian Rial exchange rate over the period 2000–2020, examining six episodes of heightened volatility. Bubble detection results are compared with ADF, SADF, and GSADF tests, showing that the proposed filter effectively identifies multiple rational bubble episodes consistent with macroeconomic and policy developments. Additional analysis of tradable and non-tradable goods prices suggests that external-sector imbalances significantly contribute to exchange rate explosiveness. Overall, the findings demonstrate that the adaptive Hamilton-filter approach offers a robust and economically interpretable tool for real-time bubble monitoring and exchange rate risk assessment.
© The Author(s) 2026. Published by RITHA Publishing. This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited maintaining attribution to the author(s) and the title of the work, journal citation and URL DOI.
Article’s history: Received 31st of January, 2026; Revised 9th of February, 2026; Accepted for publication 21st of February, 2026; Available online: 24th of February, 2026; Published as article in Volume II, Issue 1(3), 2026.
