Studies in Economics and Business Relations

Blue Economy Potentials and its impact on Bayelsa State Economy

Emmanuel Tamaramiebi Timidi — 2025-12-31

The Blue Economy has emerged as a strategic pathway for economic diversification and sustainable development in coastal regions, particularly in resource-rich but development-constrained areas such as Nigeria’s Niger Delta. This study examines the relationship between Blue Economy potentials and economic development in Bayelsa State, focusing on fisheries, marine transport, coastal tourism, and environmental governance. A survey research design was adopted, with data collected from 300 respondents using a sample size determined by the Taro Yamane formula. Content validity ensured instrument adequacy, while internal consistency reliability produced a Cronbach’s Alpha coefficient of 0.81. Data were analyzed using Spearman’s Rank Correlation Coefficient at a 95 percent confidence level. The findings reveal a strong and statistically significant relationship between Blue Economy potentials and economic development in Bayelsa State, providing empirical support for neoclassical growth theory by demonstrating how investment in marine-based sectors enhances productivity, income generation, and capital accumulation. Based on these findings, the study recommends the formulation and implementation of a comprehensive state-level blue economy policy aligned with national and international frameworks, strategic investment in modern marine infrastructure, strengthened institutional capacity, and multi-stakeholder collaboration, alongside the inclusive empowerment of coastal communities through skills development, access to finance, and participatory governance, to achieve sustainable and equitable economic transformation beyond oil dependence.

Bridging Finance and International Trade: A CAMELS-Based Insight into the Strategic Role of India’s EXIM Bank

Ashwath R — 2025-12-31

The Export-Import Bank of India (EXIM Bank) plays a vital role in facilitating India's international trade by providing export credit, project finance, overseas investment support, and Lines of Credit. This connection helps domestic enterprises engage with global markets. In light of India's export-led growth strategy and its increasing integration with the global economy, assessing the financial health of EXIM Bank is essential to understanding its capacity to support trade expansion. This study evaluates the financial performance of EXIM Bank and its relationship with India’s international trade performance from 2020-21 to 2024-25, utilising the Capital Adequacy, Asset Quality, Management Efficiency, Earnings, Liquidity, and Sensitivity to Market Risk (CAMELS) framework. The analysis relies exclusively on secondary data sourced from EXIM Bank's annual reports, publications from the Reserve Bank of India, and reports from the Ministry of Commerce and Industry. Key financial ratios for each CAMELS component were computed and analysed using both ratio analysis and trend analysis techniques. The results show a consistent improvement in EXIM Bank’s financial performance over the study period, evidenced by the growth in total business from ₹2,377 billion in 2020-21 to ₹3,979 billion in 2024-25, along with a significant rise in Profit After Tax from ₹2,540 million to ₹32,432 million. The bank's capital adequacy consistently exceeded regulatory requirements, while the Net Non-Performing Assets ratio declined significantly, indicating better asset quality and credit risk management. Furthermore, improvements in Return on Assets and profit per employee reflect enhanced profitability and management efficiency. These financial trends align with the recovery and expansion of India's export activities in the post-pandemic period. The study concludes that EXIM Bank’s financial resilience, prudent risk management, and operational efficiency have bolstered its capability to support India’s international trade, thereby reinforcing its strategic role in promoting export-led growth, external sector stability, and global economic integration.

The Economics of Ransomware-as-a-Service (RaaS) Targeting the Media Supply Chain

Simon Akuni Augustine — 2025-12-31

The Media and Entertainment (M&E) industry, characterized by high-value digital assets and time-sensitive production cycles, has become a prime target for ransomware-as-a-service (RaaS) operations. This study investigates the economic drivers of RaaS, targeting the media supply chain, and aims to develop predictive models for risk assessment. By analyzing leaked data from RaaS affiliate forums, ransomware variant features, and historical attack data spanning 2019-2024, we identified key organizational characteristics that increase the likelihood of being targeted. These include project phase timing (particularly within 30 days of scheduled release dates), extensive reliance on centralized cloud storage architectures, and mid-market company classifications (100-2,500 employees).

Our comprehensive analysis employed machine learning techniques, including logistic regression, random forest, and gradient boosting models, with the logistic regression model achieving optimal interpretability while maintaining 89% accuracy on the test data. The economic analysis reveals that defensive strategies focusing on immutable backup systems and zero-trust access controls provide the highest return on investment (ROI) by directly disrupting the fundamental economic incentives of the RaaS business model. This study contributes an actionable framework for M&E organizations to prioritize defensive investments and provides policymakers with empirical evidence to shape effective cybercrime deterrence strategies.