Department of Economics

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https://escholar.umt.edu.pk/handle/123456789/232

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Browsing Department of Economics by Author "Hafeez ur Rehman"

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    Comparative analysis of the socioeconomic determinants of foreign direct investment: evidence from Pakistan.
    (Pakistan Economic and Social Review, 2016) Hafeez ur Rehman
    Foreign direct investment has become an important element in current globalized world. It plays an important role in raising the pace of economic development particularly in developing countries by bridging saving-investment gap and bringing the latest technology from developed countries. The basic objective behind this study is to examine both economic and social determinants of foreign direct investment (FDI) in Pakistan for the period 1984–2015. The study uses cointegration and error correction techniques to examine both the long-run and short-run impact of these determinants on the flow of FDI in Pakistan. Results of the study show that both economic as well as social factors have long-run impact on the flow of FDI in Pakistan. Moreover, vector error correction model confirms the existence of short-run relationship. The results point out that social factors are more important than economic factors in attracting FDI in Pakistan.
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    The role of institutional quality in enhancing social cohesion.
    (South Asian Studies., 2016) Hafeez ur Rehman
    Social cohesion is considered to be important for a society. The role of state institutions is to bring state closer to its population. The effective connection between state and society may be possible only through changing institutions. Present study is an attempt to explore the impact of institutional quality in enhancing social cohesion in a society. For analysis purpose, the study uses five year average panel data from 1990 to 2010 of 68 developing countries. For estimation purpose fixed effect and random effect models as suggested by Hausman test have been used in different specification of the model. The results of the study reveal that better institutional quality enhances social cohesion and income inequality is a threat to social cohesion while diversity is not a harmful to social cohesion. Furthermore, equality and prosperity both enhance social cohesion. The study recommends that on one hand efforts should be made to reduce inequality and on the other hand there is a need to build up social cohesion. These can be achieved through redesigning the institutions ensuring that it is better fit to local needs. The study concludes that social cohesion can be achieved through introducing and re-structuring the policy reforms in developing countries.
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    Sorting out synergy among inequality redistribution and economic growth: recent evidence from selected asian countries
    (Journal of Quality and Technology Management, 2016) Hafeez ur Rehman
    A persistent increase in income inequality has raised concerns about its potential impact on economic performance of developing countries and at the same time it brings up the need for redistribution of income. This study is an attempt to explore this contrivance. The study uses data of twelve Asian developing countries for the period 1996-2013. Seemingly Unrelated Regression technique has been used for estimation purposes. The results of the study reveal that income inequality has negative impact on economic growth, while redistribution effects economic growth positively. The study finds the existence of inverse bidirectional causality between: inequality and growth; redistribution and inequality; however there is unidirectional causality observed between redistribution and economic growth which runs from redistribution to economic growth. The study suggests that better redistribution policies for reducing inequality and enhancing economic growth need to be formulated and implemented in these countries for economic prosperity.