Journals of Forman Christian College
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The behaviour of FDI in Saouth Asian Countries: Muhammad Tariq Majeed & Shabib Haider Syed
No full textThis paper analyzes the behavior of FDI in South Asian countries using panel data for the period 1970-2004. Following panel data model we applied fixed effects model to clearly identify the factors affecting FDI. The analysis shows that GDP, trade openness, real exchange rate, labor force and health expenditures effect FDI positively and significant. The study finds that the effect of military expenditures and external debt on FDI is negative and significant. These variables reflect the non-productive use of resources and create a negative signal for foreign investors. The study further finds that the relationship between FDI and domestic investment is complementary but insignificant. This weak relationship explains the fact that domestic investment performance is poor in these countries. The effect of taxes is negative and insignificant. The negative relationship implies that lack of fisca incentives is a hurdle for FDI. However if overall investment climate is sound then MNCs overlook it
Public Policy and Private Investment in Pakistan: Shabib Haider Syed and Muhammad Tariq Majeed
Full text linkThis paper analyzes the importance of government policy in determining private investment in Pakistan. The empirical results show that public sector investment, changes in bank credit to the private sector and degree of capacity in the economy are playing an important role in determination of private investment. The level of expected GDP also positively affected the private investment, which is consistent with flexible accelerator model. The results are also consistent with the maintained hypothesis that public infrastructure investment is complimentary to private investment; whereas other kinds of public investment tend to be substitutes for private investment
Saving and Growth Nexus in Pakistan: Innovation Accounting Technique: Mohammad Shahbaz and Rana Ejaz Ali Khan
Full text linkThe paper investigates the relationship between economic growth and domestic savings. We used ARDL Bounds Testing and Johansen Cointegration approaches for long-run association, and Innovation Accounting Technique along with Toda and Yamamoto (1995) for causal relationship using annual time series data for the period 1971 to 2007. Ng-Perron De-trended Test is used to determine the order of integration among data series. Results reveal that there exists a long-run relationship between economic growth and domestic savings. Causal results through innovation accounting technique assert that there is one-way causality, running from economic growth to domestic savings while very weak from opposite side. Results by Toda and Yamamoto’s technique also confirm that economic growth leads domestic savings in Pakistan
Determinants of Earnings: A District Wise Mapping of Pakistan: Khola Khan and Muhammad Idrees
Full text linkThere exist huge earning differentials across the districts of Pakistan. The present study is an attempt to analyze the factors that can be attributed to differences in earnings across the districts of Pakistan. The results show that proportion of educated earners, efficient age group earners and dependency ratio had a positive impact on the average earnings, while the proportion of female earners had negative effect on average earnings. Moreover, the impact of socio-development factors; like infrastructure, health units and provincial capital had a favorable effect on the average earnings of individuals. On the other hand, terrorist attacks results in lowering the average earnings.
A Review of Macroeconometric Modeling Practices: Muhammad Akbar and Eatzaz Ahmad
Full text linkThis paper presents a general historical survey of macroeconometric modeling, which includes objectives, historic background and major types of macroeconometric modeling. Historic background includes beginning of macroeconometric modeling, advancements, criticisms and responses during the course of time. Major types of macroeconomic modeling and alternatives to the basic methodology of Cowles Commission approach along with their drawbacks are discussed. At the end, review of some available macroeconometric models is presented in a tabular survey
Do Invertors Herd: Empirical Evidence from Pakistan Stock Exchange Market and in its Major Sectors: Muhammad Jamil, Ghulam Ilyas, Muhammad Iqbal and Zubair Tanveer
Full text linkThe study is to investigate the response of stockholders about investment activities in Pakistan Stock Exchange and its major segments. Researchers have used Cross[1]Sectional Standard Deviation (CSSD) and Cross-Sectional Absolute Deviation (CSAD) approaches to evaluate herding behaviour in aforesaid market by collecting daily data on stock price from 2007 to 2014. The study finds significant evidence of the herding behaviour for the different sectors at different time in a given market. Under stress conditions of the market there are more chances that investors do herd whereas in thriving situation it has a low tendency to herd. Similarly, herding activities have different trends in bullish and bearish market conditions
Evaluating the Real Determinants of Informal Economy: A Case Study of Pakistan
Full text linkOne of the most critical issues for developing economies is the ever-increasing size of informal economy. Hence, informal economy and the increase in its size are posing a real economic challenge to developing countries. Pakistan being a developing country is not an exception in this regard where the size of informal economy is expanding which, of course, is a real concern for the country. To tackle and understand the nature of the issue the current study, therefore, attempts to evaluate the determinants of the real size of informal economy from 1972 to 2020 for Pakistan. Real factors of the economy like Employment level, political stability, tax to GDP ratio and cost of working in informal economy are considered in the current research for analysis. Autoregressive Distributed Lagged (ARDL) method is applied to evaluate the informality in short-run and long-run with the help of these real factors. The result shows that in the long run employment level, cost of working and political stability negatively and significantly, while tax variable positively and significantly contribute to informality. In the short run the findings are different as some factors significantly contribute while others do not. Findings of study identify the factors augmenting the size of informal economy in Pakistan. It is suggested to the policy makers in Pakistan that the increasing size of informal economy can be curtailed through political stability, providing more employment opportunities, increasing the cost of working in informal economy and better taxation policy
Enhanced Environmental, Social, Governance (ESG) Claims and Escalated Poverty in Transport Section: A Case of Selected Corporate Sectors of Pakistan
Full text linkTransportation is considered the backbone of any corporate sector, from the delivery of raw materials to final products in the market. In this way, the transport sector is the main contributor to carbon emissions in the environment. Environment, social, and governance (ESG) mechanisms are adopted by companies to reduce environmental burdens. Intriguingly, the people associated with the transport section are under the poverty line. This study is designed to evaluate the multidimensional poverty index (MPI) of people associated with the transport section of different corporate sectors of Pakistan, along with calculations of ESG scores and carbon emissions of those sectors. MPI values indicated an increasing trend along with escalated ESG score claims and carbon emissions. Regression analysis indicates an insignificant relationship between ESG and emissions, while Pearson correlation analysis has shown a strong relationship between MPI and emissions and a negative relationship between ESG and emissions. Principal component analysis (PCA) for the overall dataset indicated the highest variation by MPI in PC1, followed by emissions
Mothers-in-law as Key Influencers: Study on a Radio Drama Intervention to improve Maternal and Child Health in Pakistan.: Syed Ali Hussain
Full text linkMothers-in-law play an integral role in promoting maternal and child health practices in rural Pakistan. This study discusses the design, implementation, and evaluation of a 25- episode radio drama featuring the mother-in-law as the primary influencer for maternal and child health practices. The radio drama was designed after an extensive pre-drama audience research comprising of 10 focus groups, and 14 in-depth interviews in Bagh and Mansehra. Post-drama evaluation comprised two focus groups in the target areas. The endline evaluation found that viewership of the drama improved communication between people of all age groups and social roles without offending their dignity, intelligence, and sense of tradition. Additionally, the findings showed that the audiencedemonstrated improvement in knowledge about danger signs for mother and child, as well as positive attitudes to seeking timely service from a trained healthcare provider. The study makes a contribution to existing health communication campaigns by introducing a culture-centric approach, through radio dramas, to influence mothers-inlaw and consequently impact maternal and child health practices
A Qualitative Study of Women Domestic Workers using Public Transport and the Adoption of Purdah.: Shafaq Javaid
Full text linkThe aim of this research is to analyze the key issues concerning the mobility of women domestic workers working in Lahore, Pakistan, through a qualitative feminist approach. For data collection, the walking interview method, which entailed walking alongside the participants and asking them questions regarding the study questions. Qualitative thematic analysis was used to analyze the interviews with ten participants. The findings reveal that the key deterrent limiting women’s mobility includes the extremely patriarchal socio-cultural norms that surround women’s lives. Two broad themes were found including: (i) Purdah as an Extension of One’s Agency; and (ii) Personal Safety, Cost, and Overcrowded Public Transport. This paper changes the societal implications of purdah while also shifting the narrative that surrounds it through the way women participants use purdah to extend their very limited agency. The study also helps to shed light on Pakistan’s public transit system through the eyes of women domestic workers who view it as a deeply unsafe and uncomfortable mode of traveling within the city