Review of Economics and Development Studies (READS) (E-Journal)
Not a member yet
310 research outputs found
Sort by
CPEC Dynamics; Bilateral Currency Swap Agreement And Balance of Payment of Pakistan
Full text linkThe China Pakistan Economic Corridor (CPEC) is considered as principal strategic component of China’s Belt and Road Initiative (BRI). Both countries have signed deals to the tune of $46 billion in 2015. Now these investments and loans call for repatriation of profits and interests which are causing a burden on Pakistan’s, already fragile, Balance of Payments (BoP). This study investigates the impact of China – Pakistan bilateral currency swap agreement (BSA) on Pakistan’s BoP by exploring three similar cases of BSA’s of China with: New Zealand, Mongolia, and Ukraine. Our analysis shows that bilateral trade in all the three cases has felt a strong and positive outcome but China as the foremost winner. Our recommendations suggest how Pakistan could gain the full advantage of the BSA in short, medium, and long-term
Depreciation of Pak Rupee and Its Effects on Tax Collection by FBR
Full text linkThis research paper is an attempt to analyze the effect of rupee depreciation on total tax col-lection and on types of tax collection. This study employed ARDL methodology on empirical data of Pakistan for the period of 1990 to 2018 and found that depreciation of Pak rupee negatively affects overall tax collection both in short term and long term. Its effect is particularly detrimental in case of income tax and custom duty. In case of income tax it deteriorates tax collection by reducing real income of persons and businesses and in case of customs it reduces tax collection by making imports costly. It is also found that depreciation of currency negatively effects tax collection from agriculture, industry, services and imports whereas it positively effects tax collection from consumption, CPI, remittances and interest rates
Culture and Entrepreneurial Self Efficacy: Comparative Analysis at Provincial Level in Pakistan
Full text linkThe debate about embeddedness of entrepreneurship in cultural dimensions has not found any conclusive theory but still there is ample evidence that culture has impact on intention of entrepreneurial activity. The culturally legitimate vocational choices affect the efficacy to make an entrepreneurial startup. This is directly linked with not only the economic activity but also for creating businesses with the available local resources. Entrepreneurial self-efficacy reflects the personal beliefs of individuals in their own abilities and regarding opportunity recognition and risk propensity. The study conducted the analysis by comparing entrepreneurs in four provinces of Pakistan (Punjab, Khyber Pakhtunkhwa, Sindh and Balochistan) and found significant differences in factors describing self-efficacy. MGCFA revealed the stability of the research instrument across the provinces thus factor loadings for different provinces can be compared. Entrepreneurs in Punjab have relatively stronger entrepreneurial self-efficacy in contrast with other provinces. The policy intervention should be reflective of the situation of each province, and public policy related to business environment should be more liberal while in other provinces supportive of entrepreneurs through institutional support to new business developers
Revealed Comparative Advantages and Exports Competitiveness of ASEAN-5 Countries in the Global Market
Full text linkThis study aims at measuring the comparative advantage and competitiveness of the ASEAN-5 (Malaysia, Indonesia, Philippines, Singapore and Thailand) economies in the world market. The current study employed four indices of Revealed Comparative Advantage namely Revealed Comparative Advantage index (RCA), LnRCA, Vollrath index (RCA#) and Revealed Symmetric Comparative Advantage index (RSCA). The data for the analysis has been taken from International trade center UN-COMTRADE statistics for the exports of electrical machinery for these selected economies from 2003-2020. The findings of the analysis portray that Malaysia, Philippines, Singapore and Thailand had a comparative and competitive advantage, while Indonesia had a comparative and competitive disadvantage in the electrical machinery in the global economy. This study will be helpful for the policy makers to boost human capital formation and to increase technology transfer and innovation to enhance the competitiveness and comparative advantage
Gender Poverty Gap: A Comparative analysis of India and Pakistan
Full text linkThis paper attempts to estimate gender poverty gap in Pakistan using multidimensional poverty approach and compares it with India. Pakistan data have been used to compute multidimensional poverty. Findings of the paper suggest that there is gender poverty gap in Pakistan. Both India and Pakistan are suffering from poverty. Head count poverty is high in both countries but India has managed to lift more people out of multidimensional poverty. The paper recommends to design targeted oriented policies reduce gender poverty
Do Governance, Foreign Direct Investment and Human Capital Matter to Bolster Trade Liberalization? Fresh Insight from Developing Countries
Full text linkThis study aims to explore the impact of governance, foreign direct investment and human capital on trade liberalization in developing countries (lower income, middle income and upper middle income). The study employed fixed effect for the period of 2000 to 2019. Results show governance, foreign direct investment and human capital are highly significant with trade liberalization in the case of lower-income countries. In the case of middle-income countries, empirical findings demonstrate governance and foreign direct investment are highly significant with a negative sign, while human capital has positive on trade liberalization. In the case of upper-middle-income countries, results show human capital and foreign direct investment affect positively, while governance has a negative effect on trade liberalization. On the behalf of results it is suggested that in the countries where human capital is high, most of the inflows of foreign direct investment happen. It means that the government can develop human resources to attract more foreign direct investments. The governments of developing countries should also concentrate on education, including training facilities and other quality educational facilities for human skill development
Dynamic impact of Gold Prices, Oil Prices and Exchange Rate on Stock Market Performance: A Case of Pakistan’s Stock Exchange (KSE 100 Index)
Full text linkCurrently emerging markets are passing through economic turmoil due to considerable increases in the prices of oil and gold with significant variation in the foreign exchange market. All the macroeconomic variables are touching the highest value which was never occurred in the history of Pakistan. Taking advantages of the current situation the study has examined the impact of gold prices, oil prices and exchange rate on stock market performance. For this purpose, the study has used daily data of these macroeconomic variables for the period of 2003 to 2018. By using time series data analysis, it reveals that there is no co-integration or long-term relation among these variables; however, the vector autoregressive model showed significant short-term relation among the securities market performance, foreign exchange rate, prices of oil and gold. The analysis also suggests that significant changes in the prices of oil, foreign exchange rates and the prices of gold have a negative lagged effect on the performance of the stock market
The Covid-19 outbreak, a Failure of Social Protection System: A Policy Perspective of Energy and Economic Recovery
Full text linkCOVID-19 has proliferated personage suffering around the world. The virus is contagious medically and economically as well. The study's main aim is to examine the failure of the social protection system caused by the COVID-19 pandemic. Three major dimensions of the social protection system have been addressed in this research—a shock to the labor market, health emergency, and massive change in energy usage. Covid pandemic had cost the world economy more than $2 trillion. The labor market is badly affected significantly; workers engaged in the informal economy. The Director-General (WHO) has declared the COVID-19 pandemic as a public health emergency of international concern. It is one of the highest levels of alarm by WHO in history. Global Energy Review 2020 shows that those complete lockdowns have a 25% decline in the energy demand per week. As economic activity slowdown due to the closure of the industry, banned transportation, and lockdown. Conclusively, it is examined that the coronavirus pandemic has brought a worldwide failure of social protection system required a comprehensive policy and a firmed leadership to stand against the outbreak
Climate Change and Emergence of Violent Conflicts
Full text linkClimate change, also called global warming, refers to the rise in the average surface temperature on Earth. Over the past century, earth's average temperature has risen by 1.5°F, and is projected to rise 0.5 to 8.6°F over the next hundred years. These changes in the average temperature of the earth may lead to potentially dangerous shifts in climate and weather. Increased rainfall, decreased precipitation, augmented temperature, frequent heat waves, droughts and floods have likely to pose challenges for economic, social and geo-political security of states. Present study is an effort to understand the impacts produced by changing climate in social, economic and political spheres and its link with the emergence of violent conflicts. It further aims to investigate the relationship between National Security and Conflict however the main focus will be the domestic societies of under-developing countries. In order to address the objectives of this study, descriptive research approach has been applied. The validity of concept has been tested by qualitative analysis of the climatic variations on economic, social and geo-political spheres. The study finds out that climate change and economic stability are inextricably linked. The data of this study also suggested that the impacts of climate change are expected to act as a ''Threat Multiplier '' as a whole and can be more disastrous for the unstable regions thus resulting in shortage of food, water and other resources. It is thus concluded that scenario may lead to increased risks of conflicts among nations for control over the natural resources though climate change is unlikely to be a primary cause of conflict however it will remain an important factor in the emergence of conflict and it may also amplify the existing conflicts due to scarcity of resources
How Behavioral Factors Influence Investment Performance of Individual Investors in Pakistan Stock Market: A Moderated Mediation Approach
Full text linkThe primary objective of study is to know the influence of behavioral factors on investor’s investment decision and investment performance. Four behavioral factors as herding, prospect factors and market factors are used in this study and financial literacy as a moderating variable among the behavioral factors and investment decision. We use the questionnaire to collect primary data from individual investors actually trading in Pakistan Stock Exchange. For data analysis, we utilize AMOS software and Hayes Process tool in two stages. The findings reveal that behavioral factors positively influence investment decision and investment performance. But there is no moderating role of financial literacy. In addition to these, individual investors and security organizations can ultimately take advantage from the results of this research as a guide for their analysis and forecasting of security market trends in order to maximize the outcome and to improve their investment efficiency. Further, study recommended investigation of all investor types and in all financial markets including the behaviors of institutional investors along with behavioral financial factors; we should consider some economic factors that could have an impact on investors' decisions