International Journal of Monetary Economics and Finance (4 papers in press)

Regular Issues

• Assessing the dynamics of non-performing loans and credit growth in Indonesia during COVID-19  
  by Toifsa Rosita Dewi, Tastaftiyan Risfandy, Nurazilah Zainal 
  Abstract: This research aims to analyse the impact of non-performing loans (NPLs) on credit growth in Indonesia during the COVID-19 pandemic. We use data from 90 conventional and Islamic banks in Indonesia for the period 2020q2 to 2022q1 particularly when COVID-19 caused banks NPLs to increase significantly. We find that NPLs had significant negative effect on credit growth for both Islamic and conventional banks, meaning that high NPL levels have reduced credit growth. In addition, in this paper we also find that the negative impact of NPLs on credit growth is more severe for Islamic banks. Meanwhile, government-owned banks are also found to be better in mitigate the adverse impact of the NPLs.
  Keywords: NPLs; non-performing loans; bank lending; credit growth; COVID-19; Indonesia.
  DOI: 10.1504/IJMEF.2026.10075099
   
  
• Dynamics of credit rationing among microfinance banks beneficiaries in Nigeria: to what extent are farmers loans rationed along gender lines  
  by Igwe Ikenna Ukoha, Innocent Uche Ojoko Nwaiwu, Maryann Nnenna Osuji, Okwudili Bismark Ibeagwa, Emeka Emmanuel Osuji 
  Abstract: The gender differentials in credit rationing by microfinance banks (MFBs) among cassava-based farmers in South-East Nigeria were deciphered in this study, while providing an in-depth understanding of the barriers prompting their credit outcomes. Multi-stage sampling was used to select 360 loan applicants, with the aid of a questionnaire using primary data, while descriptive statistics and the Multinomial logistic regression model were employed for the analysis. We observed that more male loan applicants were fully rejected their female counterparts, as indicated by a gap of 7.2%, while the female loan applicants had a higher percentage of their full loan demands met when compared to their male counterparts, as indicated by the widest gap of 20.5% along gender lines. The research suggests policy actions that will enable authorities to develop a framework that adopts gender-specific initiatives that mitigate lending inequities, highlighting the relevance of financial literacy, equitable financial services, and better banking relationships with farmers.
  Keywords: credit rationing; gender; cassava-based farmers; MFBs; microfinance banks; agricultural finance.
  DOI: 10.1504/IJMEF.2026.10075925
   
  
• Does the monetarist view on inflation still hold for Nigeria?  
  by Abdulrafiu O. Olaitan, Mohammed Musa Tumala, Olusola Osigbenga Osifodunrin, Idowu Peters, Baba Nmadu Yaaba 
  Abstract: The increasing complexity of inflation dynamics requires a thorough understanding of the underlying causes and their evolution over time; hence, the need for this study. The autoregressive distributed lag (ARDL) approach was applied to Nigerian data spanning the period 1986Q1 to 2021Q4 to determine if the monetarist view of inflation still holds in Nigeria. The study finds that, although other views on inflation, such as the open economy view, are operational, the monetarist idea about inflation is still relevant. Prominent policy implications that emerged from the point of view of the monetary authorities are the continuous relevance of the Central Bank in taming inflation, considering its ability to control the money supply. The study advises the central bank to be wary of expansionary monetary policy measures, even if the fundamentals dictate so, considering the downward sticky nature of inflation in Nigeria.
  Keywords: inflation; money supply; monetary policy; ARDL; autoregressive distributed lag; Nigeria.
  DOI: 10.1504/IJMEF.2026.10076978
   
  

Special Issue on: SIBR 2023 Post-pandemic Business Strategies and Policies in Emerging Markets

• Enhancing tax compliance through public goods provision: a study from Indonesia  
  by Monique Ivanka Dewi, Ataina Hudayati, Noor Endah Cahyawati 
  Abstract: This investigation explores how public goods delivery and patriotism influence the compliance of individual taxpayers, and whether patriotism amplifies the effect of public goods delivery on taxpayer compliance. Data was gathered through a digital survey on Google Forms, involving 100 individuals registered with the Tax Office Pratama Purwokerto in Central Java, Indonesia. Employing a quantitative approach, the study utilised multiple linear regression analysis through the SPSS software for data analysis. The findings reveal two main points. First, both the delivery of public goods and patriotism positively contribute to taxpayers willingness to comply, suggesting that improvements in public services and increased national pride can lead to more responsible tax payment behaviours. Second, the study presents an intriguing observation that patriotism may actually lessen the positive influence of public goods delivery on taxpayer compliance. This indicates a complex interaction between the effects of patriotism and the perception or value of public goods on compliance attitudes.
  Keywords: tax compliance; public goods provision; patriotism; individual taxpayers; taxpayer behaviour; moderating effects; Indonesia.
  DOI: 10.1504/IJMEF.2026.10076327