Review of Economics and Development Studies (READS) (E-Journal)
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Social Exclusion, Entrepreneurship and Public Policy Challenges for Pakistan
Get PDFSocial exclusion is manifested in inability of the masses to eradicate its causes resulting in perpetual obstruction in attaining vital facilities of life. A level of human and social progress is directly linked with enabling populous to maintain sustained level of financial depth and development. Societies with sufficient supply of entrepreneurs comfortably sustain a balanced progression of societal goals especially in current global atmosphere. With weak institutional setting and vaguely defined goals, there is a need to change the orientation of public sector in developing countries like Pakistan. The public sector entrepreneurship is essential to create enabling environment for creating entrepreneur friendly policies. It is especially important for Pakistan with CPEC connecting most poor of the regions of the country with the main stream to create policies that can reduce the impact of social exclusion of people of these regions. Urban fringe and labor skills development with efficient institutions having participatory and modern outlook (e-governance) to cater for the needs of entrepreneurs are essentially required for creating a socially vibrant and thriving population in Pakistan
Institutional Determinants of Bilateral Trade Flows: A Panel Data Analysis
Get PDFThis study analyzes the institutional determinants of bilateral trade flows and homogeneity effect for Pakistan with ECO countries by using panel data for years 2003-2014. Gravity trade model is estimated through panel least squares technique. Impact of institutions is very important for international trade as international businesses involve many governance systems. The results show that average impact of institutional quality and bilateral trade flows is positive. Moreover, institutional homogeneity effect exhibits that bilateral trade flows are positively related with the governance similarity. Thus, institutional quality and institutional homogeneity has dominant impact on the bilateral trade flows
Political Stability and Institutionalization in Pakistan: An Overview of Major Political Developments during 2008-2016
Get PDFPolitical development refers to the significance of institutionalization and is a closely interrelated trend of modernization. Political development in a state depends on political participation while political participation depends on institutionalization. Political stability increases the prospects for civilian rule, and institutionalization strengthens the political system. Political history of Pakistan presents the infrequent institutionalization of political system for democratic stability and the political experiences of Pakistan are just a posed in order to understand the problems of political institutionalization. This paper explores the close relationship between institutionalization, political development and political stability, and also highlights the views provided by different social scientists in an explanation of these terms. The purpose of this study is to evaluates the democratic process and major political developments during 2008-2016 as a case study because this is the unique era for political stability and institutionalization in the political history of Pakistan
An Investigation into the Role of Leadership Commitment on Implementation of Green Banking: Moderating Influence of Responsible Leadership Characteristics
Get PDFThe purpose of this study is to investigate the influence of leadership commitment on implementation of green banking in Pakistan through the lens of moderating role of responsible leadership. The concept of green banking in modern banking industry is associated with pro-vision of environment friendly banking services through environment friendly banking operations and infrastructure. It can be referred to sustainable lending and depository product and services provide by banks through sustainable banking operations and infrastructure. An exploratory qualitative research design is used to postulate the theoretical model relating leadership role with implementation of green banking practices in Pakistan. Further studies are needed to empirically examine the postulated relationships signified by proposed model of the study. The proposed model and relationship will significantly contribute to better understanding of role of banks leadership towards transformation of conventional banking into sustainable banking practices and products
Framing Effect and Financial Wellbeing: Role of Investment Behaviors as Mediator
Get PDFBased on the premise that human beings are not rational agents and are frame dependent while making investment decisions, this study has found a significant impact of framing effect on investment behaviors and financial wellbeing. Structural Equation Modelling is employed in Stata, on the data collected from 344 respondents from Pakistan (299 salaried persons and 45 businessmen), having more than three years’ experience. We supported the view of behavioral finance that framing effect could influence the financial wellbeing negatively. We extended the analysis further by validating the mediating role of investment behaviors between framing effect and financial wellbeing, which is a contribution to the body of knowledge in the field of behavioral finance
Intellectual Property Rights and Creative Economy; Way Forward for Pakistan
Get PDFThis paper examines the relationship between enforcement of intellectual property rights and growth of the creative economy. Intellectual property based creative industries highly contribute towards national economy through trade, value addition, and tax revenues. Size of the global creative economy has almost doubled during 2015 leading it to the figure of 205 billion during year 2002. It is worth noting that major player in global volume of creative economy are South Asian countries such as China, Hong Kong, Malaysia, India, and Taiwan. Major creative industries include software, pharmaceutical, music, cinema, fashion, design, art, culture, photography, publishing, and other related creative works. Creative industries need support of effective enforcement from intellectual property rights to pay incentive to a creator for its investment of expertise, labour, and finances. In absence of effective intellectual property enforcement and violation of intellectual property rights, innovation may go slow that affects growth of the creative economy. This research highlights potentials of growth of the creative economies in Pakistan in terms of intellectual property rights
FinTech and Islamic Finance-Challenges and Opportunities
Get PDFFintech is the merger of two terms: finance and technology. Islamic finance provides financial services to the customers in accordance to the rules and regulations prescribed by Shariah. As Islamic finance is growing by leaps and bounds since the last two decades, and so is FinTech, in the last decade. The main objective of Islamic finance is to enhance the economic growth in the society with the use of Shariah compliant financial solutions. Likewise, FinTech provides cost effective solutions for the companies and especially startups that help in the reduction of their costs and improvement in business processes. Financial industry is a very elusive yet important sector in the society, and hence heavily regulated by the regulators. The introduction of FinTech in countries, especially developing countries like Pakistan can help to boost economic growth but this will increase the workload of regulators as they must ensure stability of the financial system and to protect it from frauds/crises. Hence, proper monitoring by the regulatory authorities is crucial to avoid cyber-attack, data leakages and data theft as it can lead to misuse of the information. For the good results of FinTech, not only the users but the regulators have to be aware with the structure and functioning of the system and the regulations should be in place proactively. This paper focuses on the three main aspects namely: explaining the FinTech, opportunities for Islamic financial institutions and the challenges/issues faced by the institutions in implementing FinTech solutions. The paper also provides the current status of FinTech application globally and the potential in it to serve the poorer segments of society. The review of literature approach is used for the paper
Discursive Practices and Narrative Building in Post 9/11 Among Young American Adults
Get PDFThe changing undercurrents of the political situation of the world, in the aftermath of 9/11, seem to have affected the notion of the 'other' in the social, cultural and most expressively the discourse of literature. The power structures embedded in these discourses have influenced the social practices in the portrayal of the 'other'. The construction of the 'other' is epitomized through writings illustrating biases that reveal themselves in ostracizing communities and ideologies. The socio-political implications of the identity in post 9/11 require further investigation. The current study investigates the portrayal of the 'other' delineated in American young adults. The theoretical perspectives of Siegfried Jager and Teun van Dijk (2001) in the domain of Critical Discourse Analysis (CDA) were employed to analyze the data. The results of the investigation substantiated that the 'other' was redefined as an entity loaded with explicit negative implications and depicted by adding a prefix to the ‘other’ creating a ‘Muslim other’. The paper has implications for socio-political, education and cultural setting and practices in society
Public Policy Formulation in Pakistan during Military Regimes
Get PDFPakistan has faced intermittent military interventions in politics since its establishment. In altered military governments, Pakistan faced severe swipes in public policy formulation since first martial law of Ayub Khan to the last military government of General Musharraf. Military governments tried to get de-jure prestige after coming into power and designed the government structure to sponsor their interests. Under military governance, performance of judiciary, religious leaders, external players and local administration persisted in critical situation. During military regimes, transformation program was executed in the country through public policy formulation intended to bring broadminded modifications in the constitution, legal and public domains of the country. This study will observe the major policies of the military regimes in Pakistan and their impacts on social setup of the country. The core purpose of this study is to scrutinize the process of public policy formulation in Pakistan during military regimes, their effects upon the socio-political environment of Pakistan and addresses the key causes of disappointing results of these policies. The causes of armed forces interventions in politics of Pakistan will also be analyzed. The findings specifies that pitiable articulation of policies, feeble establishment, dominating behavior of military executives, poor structure of funds management, varied interests of community and that execution of public policies blemished by exploitation are noteworthy reasons to failure of public policies in the country. The study acclaims rearrangement of socio-political situations as benevolent expansions for difficulties of public policy
Effects of Malnutrition on the Academic Performance: A Case Study of Grade 6-8 Learners in Punjab, Pakistan
Get PDFThe present research is design to assess the “effects of malnutrition on the academic performance of grade 6-8 learners in rural areas of Tehsil Hafizabad”. Quantitative research approach was used to achieve the objectives of the study. Quantitative data was gathered by using Scheduled Interview from the sample of 150 learners of the three selected schools. Data was analyzed through statistical package for social sciences (SPSS). The outcomes of the study revealed that the malnutrition, particularly the use of low quality foods significantly lowers the academic performance in terms of lowering the understanding level of the learners and attainments; it reduces the attendance rate ultimately. It was observed that the less participation in physical activities, low income of the household and crowded demographic conditions reduced the learning capacity of the students. Some useful suggestions were also made, strictly ban on low quality food, awareness programs should be launched for public, and more studies must be conducted to highlight and overcome the issue