Review of Economics and Development Studies (READS) (E-Journal)
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Indian Policy to Isolate Pakistan at International Forum and the Way Forward
Get PDFBilateral relations of India and Pakistan have been under the shadow of misunderstanding, tensions and wars since the inception of both countries in 1947. India is ambitious to play a hegemonic role in South Asia, but Pakistan is considered a big challenge by the Indian policy makers. To counter Pakistan, India has embarked upon a bi-dimensional strategy towards Pakistan. First, it has intensified its campaign to diplomatically isolate Pakistan through blame game of terrorism. Secondly, it has inclined to use hard force when faced with terrorism and cross old lines. To achieve these targets, India has always used a multifaceted approach to wear away Pakistan's position in the international community. This paper mainly concentrates on the Narendra Modi’s foreign policy to isolate Pakistan among the international community
The Causal Nexus of Urbanization, Industrialization, Economic Growth and Environmental Degradation: Evidence from Pakistan
Get PDFThe paper analyzes the causal relation between eeconomic growth, urbanization, industrialization and environmental degradation of Pakistan. The study used time series data for the sample span of 1975-2017, retrived from World Bank Development Indicators (WDI, 2017). Vector Auto Regressive (VAR) model is used for analyzing the causal link amongst the variables, namely economic growth, urbanization, industrialization and environmental degradation. The Granger causality test is used for identifying the order of the causal association. Before estimating VAR, Augmented Dickey Fuller (ADF) as well as Phillips Perron (PP) tests are used for confirming the stationarity characteristic of all variables, first with intercept and then, with intercept along with a linear deterministic trend. Akaike Information Criterion (AIC) is used for selection of optimum lag. The Johansen Cointegration test is adopted for identifying long run associations. The result of the VAR model reveals, If any innovation of one standard deviation from outside the model occurred, it will take about 13 years for CO2, 19 years for urbanization,16 years for industrialization and about 12 years for economic growth in adjustment. These results further indicate that most of the variation in all variables is explained in their own. The study confirmed two unilateral causalities, that is runs from CO2 to urbanization as well as economic growth. The findings of the research work propose that policy makers required to develop policy helpful to the environment which will encourage verifiable economic growth in Pakistan. The policy makers need to plan for environmental issue while making policies regarding urbanization, industrialization and economic growth
Beyond Utilitarianism: Nineteenth Century South Asian Economic Crises and Sleeman’s (1788-1856) Necessitarianism
Get PDFEmerging out of eighteenth-century enlightenment, utilitarianism led a view of earth and human centric economic view of society, resulting not only in the formation of theories of racial superiority and legitimacy of imperialism, but also in the development of modern theories of economy grounded in Adam Smith (1723-1790), Malthus (1766-1834) and Recordo (1772-1823). However there were a few people those tried to fix the challenges beyond utility into the concept of instinctual and evolutionary necessity or priority. Sleeman (1788-1856) was one fundamental exponent of the theory against tyrant colonial economic policies to plunder the colonial subjects and destroy the colonized political elites. He not on challenged the Recordian theory of Revenue but also tried to convince the colonial policy makers for the development of a policy of agriculture, industry and taxation and revenue based on and keeping in considerations the needs and necessities and priorities of the colonized subjects
Learning to Teach in Higher Education for Sustainable Professional Development
Get PDFThe role of teacher in higher education is very complex. It is recognized that academicians have a greater responsibility to pursue excellence in several directions including leadership, academic management, teaching skills, pursuing scholarships, research and knowledge exchange, supervision, and many more to maintain their professional status. Academic practice is a term to encompass all these sides. The main objective of the study is to take the views of the teachers about the participation in different learning opportunities and to see their effect for sustainable professional development of university teachers. All the teachers of public sector universities in Islamabad and Rawalpindi encompass the population of the study. Using purposive sampling technique, data was collected through questionnaires. Chi-square test through SPSS was applied to analyze the data. Data was presented in the form of tables, percentage with graphs and the results were interpreted accordingly
Financial Crises and Adaptive Market Hypothesis: An Evidence from International Commodities traded at New York Stock Exchange
Get PDFThis study evaluates the varying degree of predictability of commodities return through empirical analysis of AMH (Adaptive Market Hypothesis). We divide daily returns data (from 1996 to 2013) of commodities indices (Gold, Metal, Oil& Silver) into different crisis periods. We subject all the subsamples to linear/nonlinear tests to reveal how market efficiency (independency of returns) has behaved over time. All the linear (except variance ratio) and nonlinear tests are evident that commodity indices returns have been predictable (dependent) in some crisis periods while unpredictable (dependence) in the others thus consistent with the implication of AMH. Therefore, commodities markets are adaptive markets. The findings suggest the behavior of commodities’ markets is best explained by AMH than conventional/traditional EMH (Efficient Market Hypothesis)
Impact of Economic Reforms on Social Sector of Pakistan: An Empirical Analysis
Get PDFThis study evaluates the impact of economic reforms on the social sector of Pakistan by constructing the index of economic reforms of the key sectors of the economy for the period 1971 to 2015 using ARDL. For analysis purpose two separate models have been estimated for poverty and income inequality. The results of the study reveal that economic reforms impact poverty and income inequality negatively and significantly. The negative relationship of economic reforms show that economic reforms are helpful for improving the social sector of Pakistan. Moreover, both the models also show convergence from short run to long run period. The foreign direct investment exerts positive impact on poverty and gross fixed capital has positive impact on both poverty and income inequality. The relationship between population growth and income inequality is positive and significant. Moreover, age dependency ratio and life expectancy reduces both inequality and poverty respectively in the long run. The role of crime appears to be insignificant in case of income inequality. The study suggests that government of Pakistan should formulate and implement pro poor policies and introduce reforms for providing health and educational facilitates. Furthermore, the introduction food subsidy to the poor will also be helpful in reducing the intensity of poverty and inequality in Pakistan
Role of Transformative Learning Interventions in Developing Conducive Environment for Female Adult Learners in Higher Education
Get PDFThe increasing number of female adult learners required a need for a deeper and more additional background related consideration on the effects contributing toward educational achievement for the learners who return to study. The aim of this study is to define the role of Transformative Interventions in developing Conducive Learning Environment for female adult learners in higher education with the consideration on hindrances faced, as they re-engage and continuing their post-compulsory educational passage. Qualitative approach with explanatory case study design has been employed to conduct this study. Semi-structured open-ended interviews conducted for 16 purposefully selected female participants. Two private and two public universities were selected from which adult working students and experienced of having transformative learning interventions during their course. Moreover, the experiences and responses highlighted the needs, hindrances and expectations of the adult students in higher education. They identified reflective activities including article review and reflective writing, faculty support, seminars, educational conferences, presentations, projects on real life issues, discussion and introducing demanding courses are the important transformative learning interventions for developing Conducive environment for adults. The major factor responsible for developing Conducive environment was experiences and exposure by the adult learner and providing opportunities through the Andragogy and expertise. Notes on interviews and reflection journals were utilized to triangulate data to support these methods. Data analysis and results of the study indicated that participants experienced transformative learning interventions through both educational and non-educational related activities held in university by Higher Education
Covid-19 Pandemic and Pakistan Economy: A Preliminary Survey
Get PDFThe impact of pandemic Covid-19 appears to be quite uncertain across globe. The nations are trying to overcome its impact on their economies. It has affected the production, distribution and life style. Coronavirus pandemic has taken more than 5 lacs lives globally and paralysed the global economy. The developing countries like Pakistan expect to face substantial economic set back from this situation. This study analyses the impact of Covid-19 pandemic on Pakistan economy through observing the relationship between incidence of cases and number of tests conducted. Furthermore, it examines the impact of the demand-side and supply-side shocks due to Covid-19 pandemic on Pakistan economy. On supply side, this pandemic has halted the domestic and international supply chain, causing a shortage of inputs and necessities. On demand-side, decreased domestic and international demand have resulted in massive layoffs and poverty scares. Government and State Bank of Pakistan have announced different relief packages for controlling the situation but due to poor health infrastructure and lack of social protection, the people remain vulnerable to medical and financial misery. These unprecedented circumstances call for immediate policy changes for saving millions of people from virus and poverty
Testing the Validity of Keynesian Military Model of Fiscal Side in Case of Pakistan
Get PDFThe objective of the study was to determine the impact of national security expenditures (military expenditures) on economic growth. Time series data from 1981 to 2018 on annual frequency on GDP growth rate, military expenditures as percentage of GDP, imports as percentage of GDP, unemployment rate, FDI as percentage of GDP and percentage of population living in agglomeration cities taken from online World Development Indicators. Johansen Co-integration and VECM methodology are applied to check the long run relationship and to get the long run and short run coefficient values. The major findings of this study explain that there is found the positive and significant relationship between military expenditures and economic growth of Pakistan both in long run and in short run. It explains that military expenditures are the key driver of economic growth both in short run and in the long run. The impact of imports on GDP growth was also found to be positive and significant both in long run and in short run. The impact of FDI is found positive and significant both in the long run and in the short run. The impact of migration of population to agglomeration cities have huge impact on growth were observed. The impact of unemployment was found to be negative on economic growth in short run
Efficiency of Microfinance providers in Pakistan: An Empirical Investigation
Get PDFPurpose: The aim of this study is to assess the efficiency of microfinance institutions in Pakistan using quarterly data from microfinance connect of second quarter of 2006 and second quarter of 2016 for comparison of two different time span. To estimate efficiency of microfinance institutions in Pakistan, the Data Envelopment Analysis are employee. Out of 52 microfinance providers in Pakistan, only 15 microfinance institutions is sample across the industry based on profile of gross loan portfolio of each microfinance provider. to estimate the efficiency of microfinance providers in Pakistan (i.e. constant returns to scale, variable returns to scale and scale efficiency), Malmquist productivity Index and total factor productivity of the microfinance institutions, two input variables(loan amount disbursed, total staff) and output variables (gross loan portfolio and number of active borrowers) are used. The results of the study conclude that MFIs in Pakistan are working below their optimum scales measurements and only one microfinance provider (Khushali Bank) out of 15 in our sample in 2007 and (Thardeep rural support program) in 2016 works on efficient frontier and while others are inefficient. It recommended that the institutions should increase loan amount disbursed and invest resources to the train their staff. Moreover, microfinance providers should expand by increasing number of offices to assist community