Review of Economics and Development Studies (READS) (E-Journal)
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Cost Productivity of Healthcare Systems in OIC’s Member Countries: An Application of Cost Malmquist Total Productivity Index
Get PDFStrengthening healthcare system increases the productivity of healthcare spending. To evaluate changes in cost productivity over a five year period (2011- 2015) in 55 OIC’s member states. The cost Malmquist productivity index and bootstrap truncated regression are applied to estimate the dynamics of the cost productivity and its determinants in the healthcare system of OIC’s member states. Life expectancy and under 5 child survival rate are used as outputs while doctors, nurses, mid wives and beds per thousand population are used as inputs. Public health expenditure is used as input price for measuring allocative efficiency change. The results of the study indicate that the cost productivity increases by 7.9% and the classical technical productivity grows by 8.9%. The increase in the cost productivity is mainly driven by an increase in allocative efficiency and technological change. All the determinants except population growth rate of cost productivity are found significant. Literacy rate and Per Capita GDP have come up the main driver of cost productivity growth. The study concludes that the impact of population growth on the overall shifts in the health production frontier is not significant
Asymmetric Dynamics of Oil Price and Environmental Degradation: Evidence from Pakistan
Get PDFThe main objective of the study is to explore asymmetric impact of oil price on environmental degradation in Pakistan over the period 1975-2018. The study employs the nonlinear autoregressive distributive lag (NARDL) method to check the asymmetric connection of oil price with carbon dioxide (CO2) emissions which represents environmental degradation along with gross capital formation, energy consumption, foreign direct investment and population. The NARDL result expresses that there is different effect of oil price as we break it into positive and negative changes, and decrease in oil price has a greater effect on environmental degradation in Pakistan. The other variables, FDI and energy consumption and population, have a positive and significant effect on CO2 emission. The study provides the policies for policymakers and government officials after uncovering the asymmetric relationship between oil and other variables with an environment that would be helpful in policymaking for Pakistan
Measurement of Stock Market Crisis & its Dimensions: Evidence from Pakistan
Get PDFThis study explores the history of stock market crisis in the emerging market of Pakistan from different perspectives over the period July-1997 to December-2016. To identify and measure the timing of crises occurrence and their various dimensions (magnitude of crisis, days to recovery, duration of crisis, depth of crisis, size of crisis, etc.), CMAX methodology is employed. Thus, the study adds to existing literature by studying the Pakistani market in this regard and also proposing a method to quantify the intensity of crisis (within CMAX framework). The results indicate that the two major crises of 1997-2002 and 2008-2012 are found to coincide with a number of major financial, economic and political crises in Pakistan and around the world
Can Gender Moderate the Relationship of Mindfulness, Procrastination and Job Performance Among Telecom Employees?
Get PDFJob demand resource model and self-determination theory is widely used for understanding procrastination, mindfulness, job performance and gender in organizational settings. The job demand resource model has been further used to understand gender as moderator among employee’s with mindfulness, procrastination and job performance. The present study focuses on gender as moderator in mindfulness, procrastination and job performance among male and female employees. The Purposive sampling technique with cross-sectional approach was applied. Mindfulness Attention Awareness Scale (MAAS; Brown & Ryan, 2003), Tuckman’s Procrastination Scale (TPS; Tuckman, 1991), and Job Performance Scale (JP-S; Wright, Kacmar, Mcmahan, &Deleeuw, 1995) were used to collect data from 400 employees working in telecom organizations in Rawalpindi and Islamabad city. The t-test and Hayes process were used to study correlation and moderation among study variables. It has been found female employees have mindfulness and procrastination tendencies then male employees whereas male employees were higher on job performance then female employees. Additionally, gender has non-significant effect on mindfulness, procrastination and job performance among employees. The results support the job resource demand model and self-determination theory. According to JDR model, job demands, and resources play important role in job performance of an employee in organizations and self-determination theory supports that mindfulness inhibit procrastination behavior and improve job performance of employees in organizations. These findings also suggest that procrastination could inhibit job performance among employees. Therefore, job performance could be stimulated by individual mindfulness in male and female employees
Energy Consumption and Four Growth Hypotheses: an Evidence From Saarc Nations
Get PDFThe contemporaneous study investigates the directional relationship between economic growth and energy consumption for four selected SAARC nations from 1990 to 2018 within a panel-data framework. In the empirical literature, conservation, growth, feedback, and neutral hypotheses exist between energy and economic growth. First, study implies a Granger causality test to find the short-run directional relationship. Secondly, it checks the order of panel unit root that is a prerequisite condition for cointegration particularly when we have a long panel. In the end, based on panel unit root, the study estimates the model with the help of FMOLS to find a long-run relationship. The present study explores the conservation hypothesis in the short run at the regional level for Bangladesh and Pakistan. While the feedback hypothesis and neutral hypothesis exist in case of India and Sri-Lanka respectively. On the other hand, in the long run, there is cointegration between economic growth and energy use, while the direction conforms to the feedback hypothesis in our panel after allowing heterogeneous cross-sectional effect. Thus, energy and economic growth are coupled with each other in the long run at a regional level whereas, energy as a factor of the production process does not contribute significantly in the short run. It is because this region is labour abundant, therefore, the share of energy is significantly low in the final output as compared to developed nations. Consequently, the availability of energy at affordable prices truly matters for developing nations of SAARC
Corona-19 Pandemic and Altering Dynamics of Human Resource Management: A Multifarious Approach
Get PDFThis study is an attempt to bring forth some of the human resource predicaments which will be ushered by the ubiquitous venom of the Corona Virus. Regardless of the deliberation operating at the back of Corona and the availability of the requisite vaccine, the executives need to adapt themselves with the new paradigm and contemplate on the enactment of novel and apposite ways of managing human capital. The global economy is feared to sink such that the world might be coerced to relive the 1930’s global recession; thus each economy is entwined in the cruel jaws of havoc. The study presents various dimensions of the pandemic and after analytic discussion, puts forth some important suggestions for the reader that he resort lies in self-reliance, caution and adaptability. Since the business activity is by and large a function of superior human capital, the HRM interventions need to be the most commensurate ones
Inter-Industry Comparative Advantage of Sudan
Get PDFThe Author has investigated inter-industry comparative advantage ofSudan. Inter-industry comparative advantage in Sudan is lacking.Industries have insignificant number of product codes in which they havecomparative advantage. Exports earnings are not linked to the number ofproduct codes in which comparative advantage exists. Sudan mainlyexports crude oil without value addition. It is recommended that Sudandiversifies its economy. It is further recommended that it adds value to itsoil by refining it. There is a need of investing in exploration of newendowments to boost comparative advantage. Sudan should work towardsattracting foreign direct investment so it can be able to expand its narrowbase of comparative advantage
The Effects of Economic and Financial Development on Financial Inclusion in Africa
Get PDFThis study provides empirical evidence on the effects of economic andfinancial development on financial inclusion in Africa, using panel FMOLSfor the 2005-2014 period. The study shows that economic growth has asignificant positive impact on financial inclusion, meaning that Africancountries with higher economic growth have more inclusive financialsystems. GDP per capita has a significant positive impact on financialinclusion. That is, income is an important factor in explaining the level offinancial inclusion in Africa. It is, as well, established in this study, thatalthough both economic and financial development promote financialinclusion, though the effects of economic development are much stronger.Also, inflation is negatively linked to financial inclusion, and as wellinsignificant across all specifications. Deposit interest rate is positivelylinked to financial inclusion, though insignificant. The low deposit interestrates in African countries do not encourage inclusive financial systems.Population, though positive, is insignificant. Internet has positivesignificant impact on financial inclusion, meaning that internet access isindispensable in a fast-moving and digital African economy. Literacy isalso statistically significant, meaning that adult literacy is an importantfactor in explaining the level of financial inclusion in Africa. As well,Islamic banking presence and activity are associated with higher financialinclusion
Influence of Awareness on SME’s Intention towards adoption of Islamic Finance in Pakistan
Get PDFA large number of SMEs in North Africa, Middle East and South Asia prefer Islamic financial products overtheir conventional counterparts. Similarly, in Pakistan SME owner-managers prefer Islamic finance as 20-25 percent of SMEs are not willing to takeconventional finance. Despite higher demand, however, these firms are unable to access Islamic finance from financial institutions. There are several factors behind this dilemma on both supply and demand side. The present study discusses demand side issues pertaining to lack of adoption of Islamic finance by SMEs in Pakistan. Among various demand side factors, this paper has focusedon the issue oflack of financial knowledge or awareness of Islamic financial products. In Pakistan, due to financial illiteracy of SME owner-managers, they seldom are able to identify suitableavailable financing options for their business financial needs. Thus, this study intended to determine the importance of awareness factor in influencing intention of SMEs to adopt Islamic finance.Aconceptual framework has been constructed based on Theory of Planned Behaviour (TPB) and researchpropositions are developed in order to elaborate role of awareness in influencingSME managers?intention towards Islamic finance adoption.A preliminary analysis has been conducted through pilot study to check the internal consistency and reliability of instrument and found valid for further research. These both outcomes of the study are expected to lay foundation for more structured research on the issue of demand side factors of adoption of Islamic financial products
Foreign Inflows and Poverty in Pakistan: A Quantitative Approach
Get PDFForeign Inflows (FI) acquire immense importance for the open economy. Empirical as well as theoretical findings highlight that FI intensely affect the economic state of the host country. Important issue in this respect is to examine the impact(s) of FI on poverty. The study was based on data from 1972 to 2017. It is concluded a long term relationship between poverty and FI. At large, FI do exhibit having opposite relationship with poverty. Moreover, poverty being long run macroeconomic problem does have short run causality with some of FI. Granger causality is also confirmed on some of FI and poverty. Policy recommendation is the appropriate capital allocation for the efficient restoration of the results of FI