Review of Economics and Development Studies (READS) (E-Journal)
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Economic Interactions among Stock Market Performance and Macroeconomic Variables with Mediating Role of Gold Prices Volatilities: An Evidence from Pakistan
Full text linkIn all emerging economies, one of the most challenging issues for investors is the multifaceted inter-relationship between volatility of gold prices and stock market index. During the COVID-19 sub-periods, gold has shown a strong hedging behavior against stock market performance. The main objective of this study was to quantify the long-run relationship among multiple independent macroeconomic variables (predictors) on stock market index (response variable) using the volatilities of gold prices as a mediator factor. This study applied the descriptive statistics, correlation, t-test and OLS multiple regression Model. The specific data comprised of period 2011-2020 regarding the fluctuations in gold prices, exchange rate, interest rate, inflation rate and performance of stock market index has been utilized. The statistical outputs of models showed that exchange rate (Dollar to PKR) was positively affecting the performance of Karachi Stock Exchange (KSE)-100 Index, whereas inflation rate and interest rate were negatively affecting the overall performance of KSE100 index. The findings of this study suggested that to achieve better performance of stock market, relatively low interest rate and inflation rate contribute a significant role. However, to increase the generalization capabilities of this study the impact of mentioned macroeconomic variables in other sectors like industrial production, oil & gas and energy sectors with wider time span can be more helpful
Dependence of Academic Performance on English Speaking Anxiety in Academic Programs of English Medium Instructional Context
Full text linkMost countries in the world have adopted English Medium instruction in universities. The increasing global trend of the English language as the medium of instruction has made researchers focus on students' adjustment and performance in English medium instructional contexts. One key issue highlighted in English medium instruction is English speaking anxiety. The literature has pointed out that English language speaking anxiety among students has a dependency on their personal and interpersonal worries and the context of learning. Pakistan is also a country that has adopted English medium instruction at different levels of education. Therefore, the current study probed the dependencies of English language speaking anxiety on students' academic programs and how these anxieties impact students' academic performance in Pakistan. The survey study design consisted of convenience or accidental sampling. The structural equation modeling helped researchers infer the significance of academic programs' impact on academic performance, the effect of language anxiety dimensions on academic performance, and the impact of academic programs on academic performance via English-speaking anxieties. The academic departments significantly impact students' academic performance directly and indirectly through language-speaking anxieties
Can Financial Development Help in Raising Sustainable Economic Growth and Reduce Environmental Pollution in Pakistan? Evidence from Non Linear ARDL Model
Full text linkIt is a global challenge to reduce environmental pollution and enhance sustainable economic growth. This study explores the role of financial development as an instrument in reducing environmental pollution and enhancing sustainable economic development in Pakistan for the period 1980-2020. The Non-linear Autoregressive Distributed Lag (NARDL) econometrics technique has been utilized to find the association between environmental pollution, economic growth, and financial development. The results show that positive shocks of financial development increase economic growth and reduce environmental pollution. While the negative shocks of financial development increase both economic growth and environmental pollution. Globalization has negative impact on economic growth and the use of energy increases economic growth and environmental pollution. The study suggests that the State Bank of Pakistan and other financial institutions should formulate and implement soft loan policies to induce the private investors to use low carbon emission technologies
Fiscal Impacts of Demographic Transition in Pakistan
Full text linkThis study has examined the fiscal impacts of the demographic transition. Declining fertility rate and increasing life expectancy rate are expected to cause ageing in Pakistan. The population projections of United Nation’s World Population Prospects were used, for projecting the labour force, which uses different scenarios to project population namely low variant, medium variant and high variant scenario. The study found that projected labour force is expected to decline under the medium variant scenario. The study examined the impact of expected decline in labour force on output growth of Pakistan using growth accounting technique, and found that under medium variant scenario, Pakistan is expected to face a loss of 4% of GDP at the end of this century. On the expenditure side, this study attempted to measure the impact of demographic transition on pension expenditures. Due to the increase in the proportion of the dependent population pension expenditures are expected to rise from 1.2% of GDP in 2015 to 3.5% of GDP by the end of the century. Due to the increase in old-age dependency ratio and hike in pension expenditures of Pakistan pay-as-you-go pension system is expected to become fiscally unsustainable as fewer workers would be bearing the burden of aged population. This fact advocates transition from pay-as-you-go pension system to fully funded pension system
Employment Diversification Patterns in Pakistan: Empirical Assessment Revisited
Full text linkEmployment diversification depicts a dynamic socio-economic process where domestic workers widen the range of employment sources. Whereas, the prospect is usually based on a mix of Part-time and Full-time employment. Employment decisions significantly derive from the economic incentives such as wage differentials and the growth rates in different sub-sectors of economic activity. Research at hand summarizes and analyses Employment Diversification Patterns in Pakistan and the motives behind the labor shift. Time series data has been collected from various sources for 1990-2018. The Seemingly unrelated regression model has been applied for empirical estimations. The current analysis of employment pattern diversification concluded that part-time and full-time wages rates have a significant impact on the part and full-time employment in different sub-sectors of economic growth. Variation in wage rates in one sub-sector varies the employment level in different sectors. The estimates elaborated the significant rise in part-time employment these sub-sectors. Moreover, the dynamic interrelation between part-time and full-time employment is examined in the Agriculture, Construction, Electricity, Manufacturing, Wholesale and Retail Trade, Transport, Storage and Communication. These estimates show the quick adjustment of part-time employment within and across the sectors. Policies are needed to enhance labor mobility as one wants to diversify the employment one can do it to enhance the economic productivity
Socioeconomic Status, Gender, and Politeness Strategies: Studying the Usage of Request Speech Act in Pakistani Undergraduate Students
Full text linkPoliteness strategy has non-linguistic as well as linguistic apprehensions. Moreover, it is observed as part of the sociolinguistics and conversational competency of the orators of a particular language. This recent study investigates the politeness strategies in the context of Punjabi language. The goal is to classify the politeness strategies as a part of Pakistani set culture particularly with reference to Punjabi language context. To make this study valid, Brown and Levison’s (1987) framework is employed as a ration ground for this study. The variable of gender and socioeconomic factors has been analyzed to investigate the impending result by stalking down the politeness strategies especially in Pakistani culture context. A survey was conducted through an open ended questionnaire. For this study (DCT) Discourse conclusive test is selected as a modified version. A group of 120 people which is comprised of male and female native speakers of Punjabi language are selected. This study investigates that in Pakistani culture particularly with reference to Punjabi language, people tend to remain informal when making requests which can be classified as informal politeness strategies. This study investigates socioeconomic status of Punjabi language speakers both male and female by not making in gender specific. Through this study frequency of politeness strategies has been undergone in Punjabi language
Impact of Public Infrastructure Investment on Private Infrastructure Investment
Full text linkThe aim of this paper is to find the relationship among government and private capital formation in Pakistan during the period 1981 to 2018. This study employs Auto Regressive Distributive Lag (ARDL) bound test. The results show that government infrastructure investment negatively effects on private infrastructure capital formation in long run and short run, indicating that government infrastructure investment crowds out private infrastructure investment. In determining the role of the government in investment and liberalization policies, the results of this paper have important policy implications
Academic Service Learning for Underprivileged Communities in Pakistan: Enhancing Development beyond Economics
Full text linkThis study focuses on development of disadvantaged communities via an Academic Service Learning project, incorporated in the PhD coursework of a private university. School teachers from an underprivileged community in a charitable village school of Baluchistan were given training by the students after doing interviews for needs analysis and developing and implementing a workshop based on their needs. As part of the workshop evaluation process, teachers’ perspectives were examined after teachers had incorporated the workshop strategies in their classrooms. Findings were highly positive, because teachers demonstrated enhancement in learning and constructive gain in scholarship which they could transfer to students and to other teachers in the community. Data from students who had carried out the project, accentuated improved learning and a keen desire for voluntary participation in service learning projects for helping underprivileged communities. This study not only contributes to the body of literature in academic and community service learning in the Pakistani educational context, but elaborates on the value of factors beyond economics for advancement of deprived segments of society
An Empirical Test for Natural Rate of Unemployment and Expectations Augmented Phillips Curve Hypothesis in Perspective of Chinese Economy
Full text linkThis research study investigates the natural rate of unemployment and the Expectations Augmented Phillips Curve for Chinese economy by analyzing the data ranging from 1980 to 2020. The empirical methodology of this study test the relationship between inflation rate and rate of unemployment which proved to be negatively significant (it proves the existence of classical Phillips Curve around 1960) in China. The study also analyzed the Expectations Augmented Phillips Curve allowing the effects of price expectations on money wages increases. Finally, the study also analyzed the natural rate of unemployment for China that was around 4.86 per cent that can be compared with the natural rate of unemployment (as prescribed by economists 4 to 5 per cent). The study suggests certain tools that will be helpful for policymakers in maintaining the conditions of stable inflation in China
An Experiment to Investigate the Impacts of ICT-Based-Games on Students’ Interest and Academic Achievement
Full text link“Mathematics is the mother of all sciences” is common phrase that we all know very well. Even it is the least interesting subject among the students. Teaching method is a common but known factor which makes this subject least interesting. Therefore, an experiment was conducted to explore whether game-based teaching can change students’ interest and improves achievement? For this, 108 female students and 10 elementary mathematics teachers participated in this study. Researchers used one group pre-test/post-test research method to measure the impacts of ICT-based-games on students’ achievement and interest in the subject of mathematics. An achievement test and an interest inventory was used as tools of this study. Teaching mathematics through ICT-based-games and participants’ prior knowledge of playing online games were the independent variables. While participants’ interest and achievement in the subject were the dependent variables. It was concluded at the end that teaching mathematics with the help of games has no significant impact on students’ interest in the subject of mathematics but their achievement scores were improved at the end