Department of Economics

Permanent URI for this collection

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

Browse

Now showing 1 - 20 of 50

Impact of global food price escalation on inflation in south asian countries.
(Pakistan Journal of Social Sciences., 2015) Rukhsana Kalim
The aim of this paper is to investigate the impact of global food price escalation on general inflation in South Asian countries for the period 1990 to 2011. Panel data methodology has been utilized for empirical analysis. Results of the study reveal that external factors like global food price inflation and oil prices significantly and positively affect the general inflation in South Asian countries. Inflation is also positively associated with inflation expectations. Real output measured by real GDP of South Asian countries is inversely significant for general inflation. While broad money shows insignificant impact on consumer inflation in South Asian countries. Findings of this study will be helpful for formulating effective monetary and trade policies for the economic stability in the era of trade liberalization.
Impact of health capital and education on infant mortality rate of districts of Punjab.
(Journal of Management and Research., 2015) Noman Arshed; Dawood Mamoon
Economies with large laborpopulation and labor oriented production face problems of quality of labor provided. This quality can be divided into two components; one the skill component and other the health component. The purpose of the paper is to identify the root causes of low health standards in the working population. The district wise data of Punjab (Pakistan), revealed that fertility rate, number of hospitals, literacy rate, and proxy income are the major determinants that can reduce Infant Mortality Rate, and the time being dummy variable in GMM model indicated the health standard to be depreciated in 2011 as compared to 2004
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.
Testing relevance of twin deficit for a transition economy like Pakistan.
(Transylvanian Review of Administrative Sciences., 2015) Ayesha Wajid; Muhammad Shahid Hassan
The relationship between trade defi cit and fi scal defi cit has remained an important topic in the last decades. The literature reveals many attempts to investigate the relationship between the two defi cits, while terminologies like Keynesian Proposition, Ricardian Equivalence, and Targeting Current Account Defi cit are used for the relationship between the two defi cits. The literature also highlights the possibility of unidirectional or bidirectional causality between these defi cits for different countries and different time spans. These four possibilities have inspired us to investigate these possibilities in the light of many control variables like unemployment, urbanization, money supply, foreign direct investment, and economic development in the case of Pakistan. The fi ndings of the study reveal that fi scal defi cit signifi cantly accelerates trade defi cit into both long term and short term; hence, it supports the Keynesian Proposition in Pakistan, while a bidirectional causality between fi scal defi cit and trade defi cit into both long term and short term was also observed. Moreover, the mean and variance of error term were also found to be structurally stable which confi rms the absence of structural break for the selected period in Pakistan. In the end, based on these fi ndings, this study has concluded that two possibilities prevail out of four on the relationship between fi scal and trade defi cits. The twin defi cit is relevant and it does prevail in a transition economy like Pakistan
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.
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.
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.
Understanding a shared valued and social capital link to pave the path of next generation of innovation.
(Journal of Economics Library., 2016) Dawood Mamoon
The idea “Creating shared value” (CSV) offers a resolute direction to the debate on the link between business and society which can be restored through three distinct actions such as a) reconceiving products and markets; b) redefining productivity in the value chain; and c) building supportive industry clusters. The critical analysis predicts that the path of these actions is progressive in nature and their scope apparently ranges from narrow to wider deliberations. Keeping variant scope of proposed actions, this paper focuses only first course of action as it paves the path of new wave of innovation. For this new wave of innovation, the role of social capital is explored to determine the extent this capital can derive next wave of innovation. In this regard, a model is proposed to predict the link between various dimensions of social capital and innovation that can produce both social and business revenues. The proposed model assumes that narrow conceptualization of social capital to network theory only and ignoring its origins and deep rooted relations with community will lead towards routine innovations that lacking potential benefits of shared value. If organizations emphasize more and invest in developing relationships restricted to network actors, then potential benefits might be unnoticed. Therefore, like defining „value‟ too narrowly due to strategic myopia, keeping the social circle of small radius also limit the organization‟s ability to exploit the embedded potential of social capital necessary to pave the path of new generation of innovation benefiting both business and society.
Integrating the concepts of global freedom: economics versus society.
(Journal of Economic and Social Thought, 2016) Dawood Mamoon
The paper carries out a context specific debate on why the real sector of the economy is important to look into to establish a framework of effective development. While doing that the paper highlights that the economic policy in the real sector is to be complemented by intervening in the progress of the society by developing social, political and legal institutions. This paper presents a post Washington consensus intellectual debate that eventually made the Prelog for first Millenium Development Goals (MDGs) and now Sustainable Development Goals (SDGs).
Stock market development, can it help reduce inflation in saarc countries?
(Journal of Accounting, Finance and Economics, 2016) Ibrahim Sulaiman; Noman Arshed; Muhammad Shahid Hassan
This study is designed to evaluate the impact of stock market development on general price level in five SAARC countries. The estimated results of Panel OLS, Fixed Effect model and Random Effect model has revealed that OLS model is not applicable thus, we have to use panel cointegration to find out the unbiased and normally distributed coefficient estimates to find out how the stock market development influences inflation. The results of long run estimates Fully Modified OLS suggests that in the long run, market capitalization is decreasing inflation, total value of stock traded is increasing inflation and turnover ratio is decreasing inflation in the long run. Thus, the results of our two proxies 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.
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.
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.
New shewhart and ewma type control charts using exponential type estimator with two auxiliary variables under two phase sampling
(2018) Muhammad Moeen Butt
In this paper, two new control charts have been proposed, one is shewhart-type and other one is EWMAtype control chart. The proposed control charts are based on the exponential type estimator for mean proposed by Noor-ul-Amin and Hanif (2012). We name them as DS-Shewhart control chart and DSEWMA control chart. The results shows that the DS-Shewhart control chart shows more efficient results to traditional/simple Shewhart and EWMA control charts whereas, the DS-EWMA control chart shows more efficient results to traditional Exponentially Weighted Moving Average (EWMA) and Cumulative Sum (CUSUM) control charts because they uses the information from two phase sampling with two auxiliary variables. The proposed control charts can be used for efficient monitoring of the production process in manufacturing industries. The control limits of the proposed chart are based on estimator, its mean square errors and bias. A simulated example has been used to compare the proposed and traditional/simple EWMA and CUSUM control charts performance based on the average run length-out of control (ARL1). It is observed that the proposed chart performs better than existing EWMA and CUSUM control charts. At the end of the paper a real life implementation of the proposed control charts is also provided.
Revisiting determinants of money demand function in Pakistan.
(Journal of Economics Bibliography, 2016) Dawood Mamoon; Umbreen Iftekhar; Muhammad Shahid Hassan
This study investigates the factors such as interest rate, GDP per capita, exchange rate, fiscal deficit, urban and rural population to determine money demand function for Pakistan over the period from 1972-2013. We use ARDL Bound Testing approach in order to test long run relation between money demand and its factors whereas both long and short run coefficients will be found using similar approach. The results show that real interest rate exerts significant and negative effect upon money demand in both long and short run in Pakistan. The results also disclose that exchange rate and rural population are leaving significant but negative effect on the demand for money. These findings are robust to different diagnostic tests.
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.
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.
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.
Public defense spending and poverty in Pakistan
(Hacienda Pública Española / Review of Public Economics, 2014) Rukhsana Kalim; Muhammad Shahid Hassan
The principal attribute of this paper is to address the question that whether public defense spending is pro-poverty or anti-poverty in Pakistan? The empirical findings show that public spending on defense is increasing poverty in Pakistan and results are robust to various controls. This study proposes that government could allocate its resources more towards social sector development from defense expenditures on the one side and on the other side it could initiate a serious move towards the peace pacts with India for the sake of the betterment of people of the country.
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.
Shifts in themes of knowledge management field towards dynamic fractal organizations
(Science International, 2015) Sami Ullah Bajwa; Naveda Kitchlew; Shrafat Ali Sair; Khuram Shahzad
Recently, (Ikujiro Nonaka, Kodama, Hirose, & Kohlbacher, 2013) have proposed a new paradigm to look at organizations. Drawing on the fractal theory of natural sciences, the authors proposed that organizations are made up of dynamic fractals that are enabled by dynamic ba’s, organizational synthesizing capability and leader’s phronesis. Furthermore, Dynamic Fractal Organizations facilitates dynamic synthesis of knowledge exploitation and exploration, which is essential for becoming sustainably innovative and hence getting sustainable competitive advantage in the knowledge economy. The present article undertakes review of the literature on the theme of exploration and exploitation and prposes that shifts in (1) ontology of knowledge, (2) operational orientation of exploration and exploitation, and (3) distinct KM systems to holistic design of organization, have dovetailed the conception of dynamic fractal organization. The proposed dynamic fractal organizational design has opened foray of scholarly debate by knowledge researchers in the years to come. The current paper has made an initial attempt in this regard.

Browse

Recent Submissions