Department of Economics

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Assessing impact of quota elimination on factor productivity growth of textile sector of Pakistan.
(Journal of Applied Economics and Business Research,, 2016) Rukhsana Kalim
Export of textile sector of Pakistan is also dependent on the trade policy of importing countries, particularly European Union and USA, as these countries have been major importer of textile goods of Pakistan. This study is unique in the way that it contributes in existing literature by estimating factor productivity growth of textile sector in the perspective of pre quota and post quota elimination situation, as this has been ignored in past. We explored that textile sector of Pakistan did not get benefit of quota elimination and productivity remained almost stagnant over the period. We suggest penetrating textile export in unrestricted markets apart from European Union and USA and closure of sick units and outdated technology.
Brief communication: phronesis knowledge as enabler of intuitive decision making
(Knowledge Organization, 2015) Sami Ullah Bajwa; Naveda Kitchlew; Khuram Shahzad; Khaliq Ur Rehman
Drawing on Nonaka and colleagues’ recent concept of phronesis, as a third type of knowledge that is connoted with practical wisdom, the present article proposes that intuitive decision making ability propels with phronesis. Furthermore, it proposes that cognitive adaptability—as the ability to quickly make sense of changing and complex situations – along with personality, as consistent patterns of behaviors based on social learning, are antecedents of phronesis. The article furnishes a conceptual frame based on contemporary literature on intuition, phronesis, cognitive adaptability, situated cognition, metacognition, and social learning theory of personality.
Can stock market development put chains on inflation? A panel cointegration analysis on saarc countries
(2015) Ibrahim Sulaiman; Noman Arshed
This study investigates the impact of stock market development on inflation in SAARC countries using panel data approach. The estimated results of Panel OLS, FEM model and REM model have revealed that OLS model is not applicable and we have use panel cointegation to find out unbiased and normally distributed coefficient estimates like Kao Residual Cointegration, Long run estimates FMOLS and short run estimates OLS to find out how stock market development influence inflation. The results of long run estimates FMOLS suggest that market capitalization is decreasing inflation by -0.152%, total value of stock traded is increasing inflation by 0.164% and turnover ratio is decreasing inflation by -0.191% in the long run. Thus, the results suggest that stock market development can help put chains on inflation in SAARC countries by introducing more firms to increase size and volume of share transaction, as they will load to rise in production.
Changing revealed comparative advantage of textile and clothing sector of Pakistan: pre and post quota analysis
(Pakistan Journal of Commerce and Social Sciences, 2013) Nawaz Ahmad; Rukhsana Kalim
Many Asian countries have been beneficiaries of quota abolition for textile and clothing sector since 2005. After the implementation of the Agreement on Textile and Clothing (ATC) in December 2004, member countries of World Trade Organization (WTO) have quota-free trade except People’s Republic of China (PRC). It was expected that Pakistan will be beneficiaries in textile and clothing due to expected superior export performance in this sector. Therefore, this study aims estimating revealed comparative advantage (RCA) of textile and clothing sector of Pakistan at HS-2digit level and SITC-3 digit level.It reveals Pakistan has comparative advantage in textile sector and low comparative advantage in clothing sector. Further, it analyzes RCA of textile and clothing sector during the period of pre and post quota and concludes that comparative advantage of Pakistan in textile and clothing sector has been declined during 2011-12.
Coal consumption: an alternate energy resource to fuel economic growth in Pakistan
(Munich Personal RePEc Archive, 2014) Muhammad Shahid Hassan; Saqlain Latif Satti; Haider Mahmood; Muhammad Shahbaz
This study is an attempt to revisit the causal relationship between coal consumption and economic growth in case of Pakistan. The present study covers the period of 1974-2010. The direction of causality between the variable is investigated by applying the VECM Granger causality approach. Our findings have exposed that there exists bidirectional Granger causality between economic growth and coal consumption. The Cumulative Sum (CUSUM) and Cumulative Sum of Square (CUSUMSQ) diagrams have not found any structural instability over the period of 1974-2010.
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.
Consequences of worker�s remittances on human capital: an in-depth investigation for a case of Pakistan
(IDOSI Publications, 2013) Mahboob Ul Hassan; Haider Mehmood; Muhammad Shahid Hassan
Purpose: This paper aims to empirically investigate the consequences of worker remittances on human capital formation in case of Pakistan. Methodology: In order to achieve the target of this study; Autoregressive Distributed Lag (ARDL) Bounds Testing Approach is used for the period from 1981-2011. Findings: The findings of this study have exposed that worker’s remittances have an adverse impact on human capital formation. The coefficient of worker’s remittances is significant at 5 percent level of significance. One important justification for the deteriorating impact of worker’s remittances on human capital formation is the negligence of parental care. Particularly, the absence of father or any other close relative from home leads to situations where there can be no checks on the outside home activities of the children. Also, the cultural constraints in the country restrict mothers or any female member of the household to go outside to look after their children’s activities. Therefore; the positive impact of worker’s remittances in the form of inflow of income is offset by the adverse impact of the negligence of the parental care and hence, human capital is showing adverse performance rather improving. Originality/ Novelty: There is hardly any empirical study which investigates the consequences of worker’s remittances on human capital formation in case of Pakistan. This is an attempt which may fill this gap.
Consumer behavior: buying a cell phone
(2013) Salman Zaheer
It was 7th January 2013, first Monday of the year and Areeb was going towards his university from his office as he had to attend a class of his BBA’s last semester. While traveling his mind was on many things after all he was on the verge of completing his under graduation from a prestigious university in Lahore so he was thinking about the last projects, moreover he had established his own business since 2012 (last year) and it was also consuming more and more time as his sales were gradually rising, however, despite all this, nowadays, his thoughts were overshadowed by the notion of next mobile phone that he would be buying.
Destination EU and USA: improving export potential of Pakistan by trading with India.
(Journal of Economics and Political Economy., 2016) Dawood Mamoon; Zakee Saadat
This paper is the extension of popular work of Murshed and Mamoon(2010) that suggests that India Pakistan proximity to global trade can significantly mitigate conflict between these two nations. The paper analyses bilateral trade patterns between India Pakistan with its major exporting destinations in a simple OLS framework. It finds that if bilateral trade between two nations increases that will improve exports of Pakistan in US, EU and UAE. This finding has significant implications for improvement of ties between the two countries. Furthermore, trading with India also full fills Pakistani Government’s emphasis on Trade not Aid. This aspect of India Pakistan trade has not been investigated before.
Determinants of food price inflation in Pakistan
(2011) Muhammad Abdullah; Rukhsana Kalim
This study focuses on the identification of main determinants of food price inflation in Pakistan. Using the data from 1972 to 2008, Johansen’s co- integration technique isutilized to find out the long run relationships among food price inflation and its determinants like inflation expectations, money supply, per capita GDP, support prices, food imports and food exports. Empirical findings prove the long run relationships among food price inflation and its determinants. All the determinants affect food price inflation positively and significantly except money supply which is insignificant with correct positive sign. Vector Error Correction Model (VECM) has been used for the analysis of short run dynamics. In the short run, only inflation expectations, support prices and food exports affect the food price inflation. The results reveal that both demand and supply side factors are the determinants food price inflation in Pakistan. However, our study supports the structuralist point of view of inflation as money supply shows insignificant results.
Do schooling years improve the earning capacity of lower income groups?
(Inderscience Publishers, 2012) Dawood Mamoon
The paper analyses the relationship between the popular Barro and Lee (2001) 'average years of schooling' with income inequality, wage inequality, and income deciles and income percentiles for the sample of developed and developing countries. The results suggest that countries where students complete higher numbers of years of schooling on average also perform better on relative incomes meaning that increase in average income comes from improvements in the earning capacity of the lower income groups or unskilled labour. The paper also finds that an educated population means that there is redistribution of income from the rich to the poor creating thriving middle class.
Does growth led inflation hypothesis & locus critique exist in Pakistan? A time series study
(IDOSI Publications, 2012) Muhammad Shahid Hassan; Iftikhar Ahmad; Haider Mahmood
The impact of economic growth......................... unemployment and money supply in Pakistan.
Economic growth and inflow of remittances: do they combat poverty in an emerging economy?
(Social Indicators Research, 2015) Saqlain Latif Satti; Muhammad Shahid Hassan; Fozia Hayat; Sudharshan Reddy Paramati
Poverty is such a social problem which itself begets so many socio-economic evils in a country. It never lets the government of a country to sit easy and focus on some other issues. Almost all countries who are running through this lurch; at there, governments, policy advisors and researchers are always busy in formulating strategies to combat poverty. Therefore; feeling the significance of the topic, this study is designed to empirically test the impact of economic growth, workers remittances, rural population and literacy rate on poverty in Pakistan. The empirical findings of the study reveal that economic growth; workers’ remittances and rural population significantly deteriorate poverty. Moreover; it has found that there exists bidirectional causality between economic growth and poverty and between workers’ remittances and poverty in Pakistan.
Effects of needs-supplies fit and demands-abilities fit on employee engagement: a case of Malaysian public university
(Global Management Journal for Academic & Corporate Studies (GMJACS), 2015) Ameer A. Basit; Rasidah Arshad
The influence of person-job fit on one’s engagement with job has received less attention in employee engagement research. There is clear evidence that employees form and use fit perceptions as they pass through their organizational life, and these fit perceptions determine their choices while performing their jobs. The purpose of this study was to examine the effects of employees’ perceptions of needs-supplies fit and demands-abilities fit on employee engagement. A self-administered survey was used to collect data from 161 academic and non-academic employees of a large public university located near Kuala Lumpur, Malaysia. Results of regression analysis showed that needs-supplies fit and demands-abilities fit had significant positive effect on employee engagement. Implications for theory and practice are discussed.
Empirical analysis of food price inflation in Pakistan
(2012) Muhammad Abdullah; Rukhsana Kalim
This study focuses on the identification of main determinants of food price inflation in Pakistan. Using the data from 1972 to 2008, Johansen’s co-integration technique is utilized to find out the long run relationships among food price inflation and its determinants like inflation expectations, money supply, per capita GDP, support prices, food imports and food exports. Empirical findings prove the long run relationships among food price inflation and its determinants. All the determinants affect food price inflation positively and significantly except money supply which is insignificant with correct positive sign. In the short run, only inflation expectations, support prices and food exports affect the food price inflation. The results reveal that both demand and supply side factors are the determinants food price inflation in Pakistan. However, our study supports the structulists’ point of view of inflation as money supply shows insignificant results.
An empirical inquisition of the impact of exchange rate and economic growth on export performance of Pakistan
(IDOSI Publications, 2013) Mahboob Ul Hassan; Muhammad Shahid Hassan; Haider Mahmood
The role of international trade in economic development is very important. International trade is a potential source to increase the world production of goods and services. All the trading nations get benefits of increased world production caused by international trade. The present study empirically analyzed the impact of exchange rate and economic growth along with some other important macroeconomic factors on exports performance of Pakistan by using time series data. The study applied the Augmented Dickey-Fuller (ADF) Unit Roots Test to check the stationarity of data series. Autoregressive distributed lag model is used to estimate the long run relationship among the variables, followed by Unrestricted Error Correction Model (UECM). Empirical results based on ARDL bound testing approach to co-integration show that there exist a long run equilibrium relationship between Pakistan exports performance and its factors. In this study; Exchange rate, gross domestic production and trade openness have positive and significant impact on export performance, whereas role of foreign direct investment in determination of exports performance of Pakistan seems to be insignificant according to our analysis. In the end, the estimates of labor force indicate the higher growth of labor force along with lack of skills leads to contribute adversely on export oriented sectors where skilled labor force is required.
Exploring the dark side of knowledge management (km) tactics: a study from Pakistan
(3rd International Conference on Business Management (ICoBM), UMT, Lahore, Pakistan, 2013) Ali Asghar
The field of knowledge management is being approached from variety of levels in which the dark side of knowledge management is almost neglected area, particularly in the context of Pakistan. This study, however, provides a fresh inquiry never taken before. Evidences are provided from all walks of life: social, economic, political, government, media, as well as corporate. Utilizing the authentic print media reports along with the model of tactics on dark side of knowledge management given by Alter (2006), this paper focuses upon the distortion, suppression, and misappropriation of knowledge during creating, acquisition, refining, storing, retrieving, distributing, and presenting knowledge. Content analysis of these reports has been administered to present the dark side of knowledge management tactics within Pakistani context in systematic and logical progression. This study also provides insights for those optimistic knowledge managers and scholars who are ever used to looking at the bright side of knowledge management and ignore the dark sides at the cost of bright sides. Through this study, one can take a contrast while looking at the gloomy and dark side of KM when he confronted with the stark realities of KM facets.
Globalization and the nations state
(3rd International Conference on Business Management (ICoBM), UMT, Lahore, Pakistan, 2013) Khalid Mahmood
The term 'globalization' is multi-dimensional. “A globalised world is one in which political, economic, cultural, and social events become more interconnected....by Globalization, we mean the increase of connectedness between societies” (Baylis, et al, 2008:8). As defined by Torres (2001) it is a process of rapid economic integration among countries driven by the liberalization of trade, investment and capital flows, as well as technological change. In other words globalization is intensification of economic, social and cultural relations across international borders. Therefore, globalization has led to the enhancement of interconnectedness and interdependence of countries. The interdependence is related to flow of capital and technology. The rapid dominance of globalization can be seen during the period of liberalism of the 19th century, the relative stability after the World War I and the golden years of the 1950s and 1960s. Towards this end, the WTO (World Trade Organization) was formed as a reincarnation of the ITO (International Trade Organization) after the World War II. With its formation, the principles of liberalism, multilateralism and nondiscrimination were achieved. This then shows a tendency towards globalism (Sugiura, 1999).
Good verses bad political institutions and economic welfare.
(International Journal of Economics and Empirical Research., 2015) Dawood Mamoon
The paper finds that countries which practice democracy are less prone to unequal outcomes especially when it comes to wage inequality and income inequality whereas autocracy is associated with higher level of wage inequalities but its impact on income inequalities are insignificant. Though under good economic management, autocracies may redistribute incomes from the richest to the poorest, more generally an autocratic set up violates the median voter hypothesis. The results also show that political stability and voice and accountability are more sensitive to inequalities than democracy and autocracy which is to say that the countries which are politically stable and practice accountability also form more equal societies.
Human resource outsourcing
(3rd International Conference, 2013) Sarwar Azhar; Iram Shehzadi
Outsourcing has gained a great imputes during the last some years. There are many reasons to outsource the goods and services. The concept of Human Resource Outsourcing facilitates a firm to rivet its attention to core business. It is also used to minimize the complexities to cope with human resource activities more precisely. In Pakistan, the concept of Human Resource outsourcing is in its inception stage as it is not very much in practice. Organizations are outsourcing Human Resource but only the activities and functions, which are very much essential to performed. Most of the organizations are unaware from the factual essence of this idea that it is very cost productive and helps to gain competitive advantage. Keeping these drawbacks, this study is carried out to discover the reasons of HR Outsourcing in the Pakistani business scenario.

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