Journals of Forman Christian College
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Exchange Rate Exposure on the Automotive Industry: Evidence from USA and Japan: Zeresh Mall, Saqib Jafarey, Shabib Haider Syed and Ijaz Hussain
Full text linkThis study analyses the impact of exchange rate shocks on firm value as well as on the portfolio of automotive firms from U.S and Japan over a time period of 1999-2007. The effect of intra industry competition on the relation between exchange rate and firm value is also incorporated. The results indicate that Japanese firms are more exposed to the dollar than U.S firms to yen and the exposure to yen and dollar for the U.S and Japanese firms respectively is due to the market share of Japanese firms in the U.S while the exposure to euro for the Japanese firms is due to the market share of German firms in Japan as well as Japanese firms in German
Single Stock Futures Trading and its Impact on Feedback Trading and Volatility: A Case Study of Pakistan: Imran Riaz Malik, Attaullah Shah and Safiullah Khan
No full textIn this paper, we examine the possibility of an impact of theresumption of trading in Single Stock Futures (SSFs) on the dynamics (positive feedback trading and price volatility) of the underlying stocks in Pakistan’s market. Specifically, we test the hypothesis that trading in SSFs promotes or inhibits positive feedback trading in the spot market. Analyzing SSFs has several advantages over investigation of index futures. First, any impact of futures is more likely to be evident in the behavior of SSFs than index futures. Second, with SSFs it is possible to trade directly in the underlying stocks, and the endogeneity issue can be taken care of by using a relatively weighted portfolio of non-SSFs stocks. The findings of our study suggest that there is a statistically insignificant presence of positive feedback trading in both pre-SSFs period to post-SSFs period for both SSFs-listed stocks and a matching group of non-SSFs stocks. Furthermore, the unconditional volatility has significantly changed in both SSFs and non-SSFs, while asymmetry coefficient is statistically insignificant for SSFs but significant for non-SSFs. Overall our findings suggest that resumption of SSFs neither promotes nor inhibits feedback trading in the underlying spot market in Pakistan
A Study of Implicit Tax in Pakistan’s Agriculture, with Special Reference to the Case of Rice: Mohammad Aslam
No full textThe study examined ‘implicit tax’ argument of the agriculturists’ lobby to oppose imposition of an agricultural income tax. The paper discovered a widening gap between procurement and export prices of both Basmati and IRRI. The gap between procurement and consumer prices of the two varieties also widened significantly. Thus while both producers and consumers remained on the losing end, first government and then after the policy reforms the exporters and other intermediaries, were the substantial gainers. Since RECP has been disbanded and the Government has opted out of purchase and export of rice, the margin now goes to the exporters instead of the Government. Under the changed rice policy, the ‘implicit’ tax argument has therefore lost much of weight and relevance
Renewable and Non-Renewable Energy and its Impact on Environmental Quality in South Asian Countries: Sadia Ali, Sofia Anwar, Samia Nasreen
Full text linkThe study explores the causal link between environmental quality, renewable and non-renewable sources of energy, per capita output and population density in the region of South Asia. Four countries i.e. Bangladesh, India, Sri Lanka and Pakistan from South Asia have been selected for the analysis. The study conducts both time series and panel analysis and covers the period of 1980-2013. The study applied Johanson co-integration, Larsson panel co-integration and DH causality approach. Empirical results confirm the presence of co-integration between variables. The study found positive impact of per capita output, population density and non-renewable energy sources on CO2. However, the negative sign of renewable energy sources indicates that CO2 emissions per capita decrease 0.352% as 1% increase in renewable energy sources. The study likewise boosts the theory of the Environmental Kuznets Curve (EKC) which accepts a rearranged U-molded way. The study also found the substantiation of bi[1]directional panel causality running from CO2 to RE sources and from population destiny to CO2. Results provide evidence of feedback relationship between environment and renewable energy sources and there is also unidirectional causality running from CO2 to non-renewable energy sources. In order to keep our environment clean and pollution free, the study prerequisites to devise the policies which rely on renewable energy sources to uplift economic growth
Personal Traits, Familial Characteristics and Success in the Labor Market: A Survey Study of Christian Labor Force in Pakistan: Sehrish Haroon, Faiza Azhar Khan and Naheed Zia Khan
Full text linkIn Pakistan, state of minorities still remains largely unexplored in a number of dimensions. Specifically, their social status and economic contribution. This study is first of its kind in that it analyzes the determinants of labour market positioning and earnings of Christian workforce of the country. The analysis is carried out by developing a study instrument, which focuses on socioeconomic characteristics of the parental family and personal characteristics of a worker. A purposive sample of 246 Christian members of labour force employed in upper and middle rungs of job hierarchies is taken from twin cities, Rawalpindi/Islamabad. Determinants of job market positioning have been examined by applying logistic regression analysis, while OLS regression has been used to investigate the determinants of income. Results of logistic regression suggest that socioeconomic status of parents is a major factor in determining occupational success of the children of Christian families in Pakistan, as 4 of the 9 respective variables are found significant in statistical estimation. On the other hand, estimates of OLS regression show that asset ownership of their parents along with personal educational achievement significantly determine higher earnings of Christian workforce in Pakistan. The study leads to the conclusion that further research warrants to be carried out on social and economic issues of Christian citizens of Pakistan, specifically targeting the vast numbers lying on the margins of social hierarchy. This essentially requires development of a comprehensive national database on demographic and economic characteristics of all religious minorities of the country. Such an initiative will help assess their state of assimilation in mainstream society which in turn will help devise most efficient and effective interventions
Sustainable Development: Economic, Social, and Environmental Sustainability in Asian Economies: Fizza Younis and Muhammad Aslam Chaudhary
Full text linkThe major aim of this study is to analyze relationship between social, economic, and environmental sustainability. Panel analysis is carried out for nineteen Asian economies, which are divided into three sub-groups; South Asia, Southeast Asia, and Central & East Asia. To draw empirical evidences meta-system has been utilized. Results divulge a trade-off between economic and environmental sustainability when all countries are considered. Whilst, in the case of sub-regions no such trade-off is apparent. Furthermore, interactions between economic, social, and environmental sustainability is statistically significant. It implies that these factors are interdependent and affect each other. Thus, the allocation of scarce financial resources should seek convergence between economic, social, and environmental sustainability dimensions of sustainable development. The empirical evidences also indicated that Globalization has a negative impact on environmental sustainability in South Asia, while its impact was positive in Southeast and Central & East Asian regions. Social inclusiveness has a positive relationship with social sustainability, while, technological change has a positive impact on economic sustainability, in all regions of Asia. Thus, these factors may act as transmission channels to achieve sustainable development in the region and should be the focus of economic policies
Impact of Food Insecurity on Health Care Utilization in Pakistan: Role of SDG 2 in Achieving Health Equity
Full text linkThe global community aims to eradicate hunger by 2030 through a renewed focus on agricultural development, specifically SDG 2, to ensure food insecurity and nutrition. Food insecurity, a significant socioeconomic issue, affects over 7.5 million households in Pakistan, impacting 25% of the population and negatively influencing the health status of 40 million individuals. Therefore, this research aims to explore the connection between inpatient and outpatient healthcare utilization and food insecurity by highlighting those with severe health risks and resource constraints. This study used secondary data from the Pakistan Social and Living Standards Measurement Survey (PSLM) 2018-19, collected by the Pakistan Bureau of Statistics. The study used data for 24809 households from different areas of Pakistan including both rural and urban areas of Pakistan. The food insecurity Experience Scale (FIES) is used to estimate food insecurity and Instrumental Variable Probit Regression (IVprobit) is utilized for analyzing the effect of food insecurity on healthcare utilization. IVprobit model is used to eliminate the bias arising from the endogeneity of the food insecurity variable. The study reveals that higher food insecurity scores decrease access to modern healthcare for outpatient and inpatient care, with factors like age, sex, residence, household size, social protection, and illness characteristics also influencing individual behavior. Thus, the study’s results indicate that modern healthcare utilization, particularly outpatient treatment for households, could improve the food insecurity status of households in Pakistan
Knowledge and Awareness about Nikah Nama Reforms and its Clauses in Lahore.: Memona Arjumand, Subha Malik, and Nayab Javed
Full text linkThe present research was carried out to investigate the knowledge and awareness regarding Nikah Nama reforms and its clauses among the unmarried males and females of Lahore. The objectives of this study were to explore knowledge and level of awareness about Nikah Nama reforms and to explore the reasons for not reading the Nikah Nama before marriage. A total of 400 adults were sampled, including 200 males and 200 females. A self-developed questionnaire was used; which included both closed and open ended questions. The results of this study revealed that most of the people were not aware about Nikah Nama reforms and women supportive clauses. It was also revealed that three broad factors contributed to not reading the Nikah Nama before marriage: (i) Patriarchal culture, (ii) Lack of awareness; and (iii) Insecurity and fear. It is recommended that awareness about marriage rights should be part of the formal and informal education system and there must be some accountability against people who break laws and strike out the Nikah Nama clauses or prevent the reading of the contrac
Gender Inequality and Trade Liberalization: A Case Study of Pakistan: Naeem Ahmed & Syed Kalim hayder Bukhari
No full textThe main focus of this study is to explore the impact of trade liberalization on gender inequalities in Pakistan. The overall gender inequality based on three dimensions, including labor market, education and health facilities are analyzed in this paper using data from 1973 to 2005. Exports and imports to GDP ratio, per capita GDP, and number of girls\u27 school to number of boys\u27 school ratio are identified as important determinants of overall gender inequality in Pakistan and gender inequality in labor market of Pakistan. Further, gender inequality in education attainment is explained by per capita GDP, number of girls\u27 school to number of boys\u27 school ratio and number of female teachers per school
Structure and Extent of poverty status: Imran Sharif Chaudhry
No full textPoverty, particularly rural poverty, has been one of the enduring policy challenges especially in remote areas of Pakistan. In this respect, Poverty estimates are a vital input in the design, implementation, and monitoring of antipoverty policies. The aim of the paper is to study the structure and extent of poverty status in the settled areas of Cholistan. This study is significantly based on the primary source of data collected from a cluster sample of Cholistan of Bahawalpur district consisting of four villages in 2002. According to the results it is concluded that poverty estimates are more severe in the context of population than households, based on the two poverty lines. On average extreme poverty is more severe among the landless than landholding households in a total cluster sample. Status of economic infrastructure is very poor as no roads; no electricity and any health and education facilities are available in the areas of a cluster sample of Cholistan. The improvement in the household\u27s employment opportunities, livelihood conditions, drinking water and sanitation environment, economic infrastructure, access to landholding and health, and education facilities in the areas of Cholistan can, at best, be considered to reduce extreme poverty