Review of Economics and Development Studies (READS) (E-Journal)
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Some Preliminary Evidence of Price Setting Behaviour from the Industrial Estates of Khyber Pakhtunkhwa
Get PDFPrice setting behaviour is a crucial issue for the knowledge of monetary policy transmission mechanism. The objective of the study is to analyze the relationship between firm’s characteristics and the price setting behaviour of firms, using survey-based data. The survey is conducted in the year 2017 in four major industrial estates of Khyber Pakhtunkhwa, namely, Hayatabad, Nowshera, Gadoon and Hattar Industrial Estates. A sample of 342 firms is selected through stratified random sampling and respondents are the managers of the firms. According to results the price elasticity of demand will be inelastic and the number of time to change price decreases in case of less competitors. If the firm is engaged in a contract, then there are more chances that the firms have only regular customers and imperfect competitive market structure. Firms which are involved in input price contracts, they are also involved in output price contracts, so nominal wage rigidity leads to output price rigidity. This paper find that traditional channel of monetary policy is weak as degree of price rigidity is low. Therefore, it is important for monetary policy of Pakistan to focus on other channels of monetary transmission mechanism
Psychosocial Health of Adolescent living in Urban Slum Nigeria
Get PDFThe paper examines association of neighborhood characteristics withpsychosocial statues of adolescent living in urban slums. Data for thestudy were obtained from a cross sectional survey among adolescent age15-19, living in urban slums in Lagos State. Adopted a measuring scalefor adverse environment and psychosocial attributes, data were analyzedusing univariate and binary logistic regression analysis. Results revealedthat neighborhood characteristics were associated with low self-academicperformance rating. Both parental process and neighborhood factors suchsocial disorganization was able to predict psychosocial wellbeing suchsubjective academic performance rating. The findings revealed amongothers that adverse neighborhood characteristics in urban slum wereassociated with unhealthy subjective wellbeing which reflects widepersonal and social contexts and have implications for public health andsocial wellbeing. This paper calls for programmes that are tailor toaddressing rapidly developing slum settlements in low income area, tosecure the future generation
Credibility of the Philippine Central Bank: Evidenced by the Interest Rate Pass- Through
Get PDFPurpose: This study investigates the Philippine interest rate pass-throughover the December 2001 through January 2016 period. The empiricalfindings suggest that the Philippine Central Bank has not been veryeffective in formulating and implementing its countercyclical monetarypolicy. Specifically, the empirical results reveal very low short-run andlong- run interest rate pass-through. The Bounds test results indicate nolong-term relationship between countercyclical monetary policy and marketrates. Notwithstanding the banking system’s remarkable performance in therecent years, amid lingering uncertainties in global financial markets, thePhilippine Central Bank lacked the credibility in conducting itscountercyclical monetary policy. This empirical finding may not bedesirable but it forewarns the monetary policy makers of challenges informulating and implementing their monetary policy
Measuring Energy Efficiency and Exploring the Determinants of Energy Efficiency in Selected Economies of Asia
Get PDFPurpose: There is widely recognition of the need to effectively consume the energy, particularly in energy deficient countries. The effective use of energy requires that one must know the current efficiency level, so appropriate measures may be taken to make the efficient use of energy. Present study in an attempt to measure the energy efficiency and determinants of energy efficiency in fourteen selected developing economies of Asia for the time period 2007 to 2013. DEA double bootstrap technique has been used for estimation purposes. The results of bias corrected energy efficiency indicate that there is not even a single economy that is fully energy efficient over the period under consideration. After measuring the energy efficiency, truncated regression analysis is utilized to find the determinants of energy efficiency. The results indicate that industrial share and per capita income have positive effect on energy efficiency, while corruption, political instability and voice and accountability have negative impact on energy efficiency. So there is dire need to control corruption, political stability needs to be resorted and voice and accountability system needs to be redefined
Economic Determinants of Tax Buoyancy in Pakistan: An ARDL Bounds Testing Approach
Get PDFFiscal policy, being the policy of government expenditures and revenues can play an imperative role in mobilization of resources. Tax revenues determine the capability of an economy to finance government spending but tax situation in many developing countries like Pakistan is very unfortunate. This study explores the economic determinants of tax buoyancy in Pakistan for the period of 1996 to 2016. For this purpose, aggregate and disaggregated analyses of various types of taxes have been conducted using the ARDL bounds test technique. The findings of the study demonstrate that various taxes buoyancies have mixed results with various economic factors
An Analysis of Existence of Localization for the Implementation of Triplization in Higher Education Pakistan at Policy and Practice Level
Get PDFPolicymakers and academe around the globe are deeply concerned about maximizing benefits of localized aspect of higher education for the development of an individual local community. Considering benefits of localization in higher education, this study examined the existence of localization for the implementation of triplization at policy and practice level. With problem statement in alignment of the aims of National Education Policy Pakistan 2009, this research study is particularly aimed to analyze present state of higher education in Pakistan in terms of focus on local networking, technological, economic, social, political, cultural, and learning localization, decentralization to the local site level, indigenous culture, community needs and expectations, local involvement, collaboration and support, local relevance and legitimacy, community-based needs and characteristics, social norms and ethos as the key characteristics of localization referred to by Cheng in his theory of triplization. A mixed method exploratory approach was acquired to meet the objectives of the study. Sample of the study were policy and provision documents for the content analysis and 1429 students and 140 faculty members from 15 universities of Punjab and KPK as the respondents of survey. Findings at both policy and practices in aspects of HE revealed an agreement on the presence of localization at the institutional process level; localization of curriculum reflected inadequacy in policies whereas practices too, reflect an average level presence; localization of student and learning occurred in policies and practices at above average level whereas localized teacher and teaching aspect is catered to some extent in policies and provisions and precise average presence is responded by survey respondents
Role of Job Designs in Determining Employees’ Work Motivation in Banking Sector of Multan City, Pakistan
Get PDFThis article presents theoretical and empirical underpinnings between job designs and employees’ work motivation in banking sector of Multan city, Pakistan. The study adopted a cross-sectional survey research design in which 362 employees participated through simple random sampling technique. The findings of the study revealed that female employees are more motivated towards their jobs than male employees. Moreover, job characteristics and job rotation are high among senior bank employees having experience greater than 12 years. The study concluded that job enrichment is the highest influential factor in determining employees work motivation while quality of work life is negatively influencing their enthusiasm level towards job. In the wake of new technological transformations, academic insight into the current work would further guide the policy makers for designing the jobs for banking sector through decentralization of managerial powers, changing in accordance with the global trends, as well as applying autonomous, mastery oriented and purposely directed policies
Portfolio Selection and Optimization through Neural Networks and Markowitz Model: A Case of Pakistan Stock Exchange Listed Companies
Get PDFThis paper used artificial neural networks (ANNs) time series predictor for approximating returns of Pakistan Stock Exchange (PSX) listed 100 companies. These projected returns are then substituted into expected returns in the Markowitz’s Mean Variance (MV) portfolio Model. For comparison empirical data used is closing prices of PSX listed stocks, Karachi Inter Bank Offer Rates (KIBOR) as risk free rate and KSE-all share index as benchmark. The Portfolio returns are compared for two datasets by employing various constraints like budget, transaction costs, and turnover constraints. The value of portfolios is measured through Sharpe ratio and Information ratio. Both Sharpe and Information ratios support use of ANNs as return predictor and optimisation tool over simple MV model implemented for empirical data as well as predicted data. ANNs framework performed better in both Long and Short positions and its portfolio returns are significantly higher as compared with MV
Impact of Teacher’s Self-Efficacy on Student’s Motivation towards Science Learning
Get PDFThe study aims to identify the role of teachers’ self-efficacy towards motivating students’ learning process in intermediate colleges of Karachi, Pakistan. Using a causal research design, purposive sampling as a sampling technique and questionnaire as a data collection method, data were gathered from selected intermediates colleges of Karachi. The data from 312 sample cases were then analyzed by employing PLS-SEM through SmartPLS3 and results were identified. The results of the current study showed that teachers’ self-efficacy has significantly positive effect on goal achievement active learning and learning environment. In addition, teachers’ self-efficacy was found to have significant positive impact on performance goal and science learning value. By the initiation of proper training and working over the embracement of self-efficacy, the motivation of the students towards the learning of science, can be improved. The professional courses and teacher education programs to develop the sense of self-efficacy are also proposed by the professionals
Capital Investment Decision Making and Risk Management Methods: Evidence From Listed Companies on Pakistan Stock Exchange
Get PDFCapital Investment projects are evaluated and appraised by the corporate managers of business firms listed on PSX through different pragmatic methods, tools and techniques. The complexity of the application of all the methods simultaneously including traditional financial methods, strategic pragmatic methods and risk management methods, urge the corporate managers to apply at least one of the pragmatic methods so that projects’ capital investment decision making criterion or criteria may be reached at to measure the appropriate capital investment decision making. Keeping all this in view, this paper aims to study the risk management techniques rather than studying and measuring all the traditional methods. This paper examines the effect of financial and non-financial factors on risk management methods which are supported by different theories and empirical background with proper references and citations. The responses of the corporate managers of 250 listed business firms on PSX through regression analysis show that almost 80% of the factors have a direct relationship with Risk Management Methods. The maximum significant results of the study point out that the capital investment projects are also evaluated by the corporate managers through risk management methods but the application of the financial and strategic methods cannot be ignored. As many of the project financial experts apply the risk management methods simultaneously with the collaboration of other methods as well. The results also show that effect of firm size as a moderator is also partial significant