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The paper argues that private firms play a vital role in enhancing inclusive growth prospects as investors, employers and creators of new and upgraded productive potential. Private sector activity matters for inclusive development as well as its quality, sustainability and inclusiveness. In most countries, the private sector is a major component of national income and the major employer and creator of jobs. The analysis suggests that private firms have the capacity to enhance inclusive growth prospects, given their ability to create new and higher value productive capacity. The capability of firms to launch new export products and raise product quality generates higher profitability and productive potential with spill over benefits to other firms and industries. However, private sector activity per se does not automatically result in equality of opportunity across individuals and firms. It has been very thoughtful to many countries to facilitate various actors to come together in public-private collaboration to build 'Inclusive Business Models' based on inclusive markets.

Using Indonesian Islamic banking data from 2003 to 2014, this article employs a panel regression methodology to investigate the responses of Islamic banks to changes in financing rates and monetary policy, which may differ depending on their characteristics. The results suggest that the financing rate has a negative impact on financing at Islamic banks, while bank‐specific characteristics have a positive influence on it. The size and amount of capital have a greater impact than liquidity on financing at Islamic banks. However, changes in monetary policy are insignificant on bank financing, which implies that the transmission of monetary policy through the Islamic segment of the banking sector is weak. Furthermore, the weak impact of monetary policy on bank financing can be explained by the dramatic expansion of Islamic banks during the sample period, which contributed to a substantial increase in deposit growth and a high liquidity position.

Purpose
– The purpose of this paper is to examine the determinants of innovation outputs proxied by number of patent applications, trademarks and industrial designs in developing countries.


Design/methodology/approach
– The paper employs a panel data and Negative Binomial method to analyse the main determinants affecting the innovation outputs.


Findings
– The results implicitly suggest that providing a fertile ground to attract more foreign direct investment (FDI) can lead to much better innovation outputs. The study also strongly supports the role of institutions and governance for increasing innovation activities in developing economies as indicated by positive impacts of governance factors in the model. However, the impact of economic freedom indicators on improving innovation outputs is mixed.


Originality/value
– This paper contributes to the existing literature in two ways: it examines the effect of FDI and research and development on innovation of selected developing countries; and the study uses a panel data approach to increase the accuracy of the results through exploiting the significant variations of innovation outputs across countries, while controlling for a larger number of innovation outputs and product determinants. To the authors knowledge, this is the first empirical study on the behaviour of innovation outputs for developing countries.

Intro -- Financial Inclusion and Poverty Alleviation -- Foreword -- Preface -- Contents -- List of Figures -- List of Tables -- Part I Trends and Challenges Facing Financial Inclusion and Inclusive Development in Muslim Countries -- 1 Quality of Institutions and Inclusive Financial Development in the Muslim World -- Abstract -- 1.1 Introduction -- 1.2 Literature Review -- 1.3 Methodology -- 1.3.1 Empirical Model Specification -- 1.3.2 Econometric Methodology -- 1.3.3 Endogeneity -- 1.4 Data and Descriptive Analysis -- 1.4.1 Descriptive and Statistical Analysis -- 1.4.2 Correlation Analysis -- 1.4.3 Graphical Analysis -- 1.4.4 Data Diagnostic Tests -- 1.4.4.1 Model Specification Test -- 1.4.4.2 Multicollinearity Test -- 1.4.4.3 Normality Test -- 1.4.4.4 Hausman Test: Fixed Effects Model vs. Random Effects Model -- 1.5 Empirical Results and Discussion -- 1.5.1 Cross-Sectional Analysis -- 1.5.2 Panel Data Analysis -- 1.6 Conclusion -- References -- 2 Financial Intermediation, Development, and Access to Finance in an Islamic Environment -- Abstract -- 2.1 Introduction -- 2.2 Related Literature -- 2.3 Data and Methodology -- 2.4 Analysis of Results -- 2.5 Discussion and Robustness Checks -- 2.5.1 Impact of Economic and Human Development -- 2.5.2 Impact of Financial Development and Financial Intermediation Conditions -- 2.6 Conclusions -- Appendix. Definition of Variables -- References -- 3 Financial Inclusion for Women: Impact Evaluation on Islamic Microfinance to Women's Empowerment in Indonesia -- Abstract -- 3.1 Introduction -- 3.1.1 Background and Rationale -- 3.1.2 Research Statement -- 3.1.3 Objectives -- 3.2 Literature Review -- 3.2.1 Islamic Views on Poverty -- 3.2.2 Islamic Views on Women Empowerment -- 3.2.3 Microfinance and Women Empowerment -- 3.3 Methodology -- 3.3.1 Methodological Framework -- 3.3.2 Sample Design and Selection Procedures

This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial inclusion, within the broader context of inclusive development, is viewed as an important means to tackle poverty and inequality and to address the sustainable development goals (SDGs). This book contributes to the literature on these topics and will be of interest to researchers and academics interested in Islamic finance and financial inclusion.--

Purpose– This paper aims to investigate the relationship between structural change and economic growth for a panel of four developing countries, namely, Malaysia, Nigeria, Turkey and Indonesia over 1960-2010.Design/methodology/approach– The study extent the growth equation by incorporating degree of openness, labour and investment and construct structural change indices – modified Lilien index and the norm of absolute values. It utilizes the recently developed panel cointegration techniques to test and estimate the long-run equilibrium of the growth equation.Findings– The results confirm that structural change and economic growth are cointegrated at the panel level, indicating the presence of long-run equilibrium relationship. However, the impact of structural change on economic growth seems to be small and evolve slowly.Originality/value– The findings indicate the need for policymakers to identify the binding constraints that impede growth and the importance of institutionalize policy to encourage investment in productive sectors.