Review of Economics and Development Studies (READS) (E-Journal)
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Factors Affecting Non-performing Loans in Pakistan during the Covid-19 Pandemic: A Case of Micro Finance Banks
Full text linkThe basic purpose of this study is to investigate the factors affecting non-performing loans of microfinance banks in Pakistan during the COVID-19 Pandemic. The research used secondary data from the Pakistan Bureau of Statistics and SBP websites regarding the banking industry in FY 2020–2021, and the data was subjected to a multi-regression analysis. The analysis included a number of variables, including GDP growth rate, management efficiency, bank size and return on assets. According to the study's results, all three variables had a statistically significant affect on the outcome except business size. Non-performing loans have been found to have a important positive association with the country's economy
Visiting Human Capital-Foreign Direct Investment-Environment Association for Attaining Environmental Sustainability: Fresh Insight from Pakistan
Full text linkThe current study explores the association of human capital, foreign direct investment, economic growth and population with the environment in Pakistan. Our study adopted the time series econometric estimation methodology autoregressive distributed lag model (ARDL) over 1980-2019. Interestingly our study results show that increase in human capital will clean the environment in both the short and long run. The study also validates the pollution haven hypothesis by proving the positive link of foreign direct investment with the ecological footprint. The findings also corroborate the existence of the long-run linkage of economic growth with the environment. The study suggests that policymakers and government officials should develop and promote the education sector that eventually mitigates environmental degradation
The Role of Language Style, Perceived Services and Medical Qualities on the Tourism Development in Malaysia: Mediating Role of Customer Satisfaction
Full text linkRecently, tourism development is considered a significant factor to enhance the economic growth of the country and has gained the attention of upcoming studies and regulators. Thus, the present research examines the impact of perceived service quality, perceived medical quality, and language style on the perceived tourism development in Malaysia. The current research also investigated the mediating impact of customer satisfaction among the nexus of perceived services quality, perceived medical quality, language style, and perceived tourism development in Malaysia. This study has used the quantitative method of data collection and also used the smart-PLS to examines the relationships among the variables. The results revealed that perceived service quality, perceived medical quality, and language style has a positive association with perceived tourism development in Malaysia. The findings also indicated that customer satisfaction positively mediated among the relationships of perceived services quality, perceived medical quality, language style, and perceived tourism development in Malaysia. This study has guided to policymakers while formulating the policies related to tourism development that enhance economic development
Turnover Intentions and its Drivers: A Study of Banking Sector
Full text linkThe current study aims to explore factors which influence perceptions of employees and shape their intentions to leave the organization. It utilizes psychological factors that serve as baseline for turnover intentions. Data of 404 employees were taken from banking sector and evaluated through structural equation modeling in AMOS. Results reveal interesting insights identifying intrinsic rewards as significant factor in countering the turnover intentions whereas, justice perception and organizational support do not play direct role in shaping employees perceptions. Results carry managerial and practical guidelines that can be useful for organizations for creating a strategic taskforce
Bilateral Trade Intensity and Business Cycle Synchronization Nexus: An Analysis from Major Trading Partners of Pakistan
Full text linkThe existing research on the relationship between bilateral trade and business cycle synchronization (BCS) is limited in the context of developing countries like Pakistan. Theoretically, bilateral trade can lead to convergence as well as divergence of business cycles depending upon prevailing economic conditions in a country. The present study is an attempt to explore the relationship between bilateral trade and business cycle synchronization in Pakistan. For empirical analysis, data of six major trading partners of Pakistan is collected for the period 1991-2017 and multidimensional fixed effect estimation technique has been used. The results of the study show that bilateral trade has significant and positive impact on BCS. The coordination of fiscal and monetary policies appear to be significant determinants of GDP synchronization. These results have strong implications for policymakers and practitioners for formulating and implementing policies for Pakistan to get the maximum benefits of BCS
Application of Markov Regime Switching Autoregressive Model to Gold Prices in Pakistan
Full text linkThe goal of this study is to investigate the performance of the Markov regime switching autoregressive (MRS-AR) model to estimate and forecast the gold prices in Pakistan. Initial analysis of the data covering from January 1995 to January 2019 reveals the existence of nonstationarity, heteroscedasticity, and structural changes. The dynamics of the data are studied in two distinct regimes. The empirical analysis provides evidence that the regime shifts are mattered and MRS-AR model is found to be suitable even in the case of nonstationarity. Moreover, it is worthwhile to note that the Markov regime switching successfully captures the nonlinearities and heteroscedasticity underlying the selected data and provides efficient forecasts. Based on empirical evidence it is recommended that the applications of regime switching models should be promoted in other fields of life
Financial Development and Natural Resources Dynamics in Saudi Arabia: Visiting ‘Resource Curse Hypothesis’ by NARDL and Wavelet-Based Quantile-on-Quantile Approach
Full text linkThis study analyses the impact of natural resource rent on financial development to test the resource curse hypothesis in Saudi Arabia on quarterly data span from 1985Q1 to 2017Q4. We employ two novel methodologies at same time such as nonlinear autoregressive model (NARDL) and Wavelet-based quantile-on-quantile estimation to check the asymmetric behaviour of natural resource rent on financial development. The findings of NARDL confirm the nonlinear behaviour of natural resource rent with financial development. The results also show real GDP, gross capital formation and institutional quality affect financial development positively. The empirical results of Wavelet-based quantile-on-quantile estimation method also reveal the heterogeneous response of natural resource rent effect when decomposes into different quantiles that become positive to negative. The results further explain that the natural resource rent has a positive effect in short-run, but it exerts an adverse effect on financial development after attaining stability
An Empirical Analysis of Globalization-Poverty Nexus: Evidence from Pakistan
Full text linkDespite the significant progress that has been observed towards the Millennium goals, more than one billion people still live on less than 1.25 US dollars per day. A large body of the literature has focused on the growth effects of globalization and generally documents favourable effects of globalizing on economic growth. Does globalization reduce poverty? This question has received relatively less attention and the available evidence is not conclusive. This study investigates the impact of globalization on poverty in Pakistan using annual time series data from 1975 to 2018. The empirical analysis for the effect of globalization on poverty is based on the ARDL approach to cointegration. The empirical findings show that globalization exerts a significant adverse influence on the annual poverty of Pakistan. It implies that the ongoing process of globalization is leaving the poor of Pakistan behind. Globalization accentuates not ameliorates poverty and thus marginalizes the poor of Pakistan
Natural Resources, Institutional Quality and Financial Development in GCC Member Countries: Visiting ‘Resource Curse Hypothesis’ by DCCE Estimation
Full text linkThe main purpose of the study is to check whether natural resource rent affects the financial development or supporting the resource curse hypothesis by employing a recently developed estimation technique by Chudik and Pesaran (2015) from 1985 to 2017 in GCC member countries. The novelty of this methodology is to consider structural breaks and the heterogeneity issues that are common in panel data. The results of DCCE estimates are in support of the resource hypothesis that natural resource rent hurt financial development. Additionally, this study takes moderation of institutional quality to check the threshold point or turning point where the natural resource rent effect becomes positive. Our results of interaction term postulate that a higher level of institutional quality mitigates the adverse effect of natural resource rent on financial development. The study results recommend the policy of natural resource rent in the presence of high institutional quality should continue because it improves the financial development in GCC member countries
Productivity Dynamics: A Case of Pakistan
Full text linkThis study estimates the total factor productivity (TFP) for Pakistan at aggregate and sectoral level from 1982 to 2016 with a data set rebased at 2005-06. We employ actual returns to scale instead of the oversimplified assumption of constant returns to scale for measuring the TFP. Our results show that average economic growth during this period is 4.7 percent with 0.7 percent contribution from TFP. While, average TFP growth for Agriculture, Industry, and Services sector is 1.5, 4.6, and 4.3 percent, respectively. Besides, there is a noticeable decreasing trend in TFP as well as economic growth relative to 1980’s. Further, our analysis reveals that the physical and human capital contribution in productivity is quite negligible at aggregate and sectoral level. This implies that sizeable investments in human capital formation can further help the economy to attain high growth trajectory in the short to medium terms