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Item Effects of fiscal policy on GDP for the case of Pakistan(UMT, Lahore, 2016) Manal Sharif BajwaThe Purpose of this paper is to determine the impact of the fiscal policy on GDP in Pakistan using time series data for the period 1980-2014. Asymmetry in the fiscal policy will be explained by Direct taxes ,indirect taxes, development expenditures and current expenditures. ARDL model is used for the analysis. The outcome supports two key conclusions. Current expenditures and indirect tax do not have asymmetry in their model while development expenditure and direct tax have asymmetry in their model. So the policy makers can see the increasing and decreasing Direct taxes and development expenditures they can make sure that the effect might not be same and opposite. This study will provide help in determining the importance of fiscal policy for the development of Pakistan.Item INCOME SMOOTHING IN SHARIAH COMPLIANT COMPANIES OF PAKISTAN(UMT, Lahore, 2016) HASSAN SULTANIncome smoothing refers to the use of accounting techniques to level out net income fluctuations from one period to the next. Companies indulge in these practices by using accounting techniques to level out and decrease uncertainty in their profit and to set out ups and downs in income time to time. By doing this they attract the investors because with more and constant income investors are willing to pay more price for company stock that increase the value of stock. Present study has analyzed the existence of artificial income smoothing in Pakistani Shariah compliant companies and compared their performance in relation with smoothing behavior. In order to investigate the income smoothing companies, the Eckel’s Index model was used, with the sample of 64 companies for the time of 2008-2015. It was found that 34 percent of the companies are non-smoothers and rest of the 66 percent of the companies are smoothers in pooled sample. Among high performing companies, 37.5 percent of the companies are non-smoothers and rests of the 62.5 percent are smoothing companies. In low performing companies, it was found that 31 percent companies are non- smoothing, rest 69 percent companies are practicing income smoothing.Item Determinants of Poverty, Income Inequality and Unemployment: A Case of Pakistan(UMT, Lahore, 2016) Muhammad Usama AltafThe paper explores the impact of development expenditure, military expenditure, debt, political stability, foreign direct investment and inflation on poverty, income inequality and unemployment in context of Pakistan. Time series uninterrupted data is used for period 1980 to 2014. Income inequality is a havoc by which income gap increases between rich and poor of society. Capitalism is the main root cause of income inequality as capitalists are taking and snatching the hard work of poor as the critics claim. Pakistan has high unequal distribution of income also because of capitalist system in society. Poverty is a sheer state of adequacy in which people even lack basic necessities. Basic necessities include food, clothing and shelter but according to some modern lists, it includes basic education and healthcare as well. More than quarter of population of Pakistan is living far below the poverty index. Unemployment is an economic havoc in which people do have some specific skill and willingness to work but there is no job opportunities present for them in market. Pakistan has alarming unemployment rate as compare to developed nations. Due to all these havocs discussed here, state of unrest and chaos rise in society damaging all the other sectors and law and order situation as well. Poor health and, depression and brain traumas also increase in such societies. The empirical findings confirm that development expenditure is decreasing poverty and unemployment but increasing inequality due to capitalism. Military expenditure is decreasing inequality and unemployment but has no impact on poverty. Foreign direct investment is decreasing inequality and unemployment. Debt is decreasing poverty and unemployment. Results also show that political stability is increasing poverty and unemployment. Policy makers should consider the current scenario in light of given research.