Decomposition of Changes in Poverty Measures: Sectoral and Institutional Considerations for the Poverty Reduction Strategy Paper of Pakistan

Two extremely significant empirical questions on the relationship between growth, distribution and poverty have remained the focus of attention for researchers and academicians. First, how does a change in aggregate poverty reflect intrasectoral gains/losses versus intersectoral shifts in population? Second, how much of an observed change in poverty can be attributed to the changes in the distribution of income, as distinct from growth in average incomes? Standard inequality measures like the Gini coefficient can be misleading in this context. At any rate, the change in an inequality measure can be a poor guide to its quantitative impact on poverty. Ravallion and Huppi (1991) proposed decomposition formulae to throw light on the contributions of sectoral gains and population shifts (on the one hand) and economic growth and changes in inequality (on the other) to aggregate changes in poverty. They found that both population shifts and gains to the urban and rural sectors alleviated aggregate poverty in Indonesia over the 1984–87 period. In addition, they obtained estimates of the relative contributions of growth and greater equity to poverty alleviation in Indonesia. Datt and Ravallion (1992) extended the analysis to study poverty in Brazil and India during the 1980s. Kakwani (1993) explored the relation between economic growth and poverty for Cote d’Ivoire from 1980–85. He developed his own methodology to measure separately the impact of changes in average income and income inequality on poverty. Kakwani (2000) applied the same methodology to analyse changes in poverty in Thailand covering the period from 1988–94. Recently, Contreas (2003) examined the evolution of poverty and inequality in Chile between 1990 and 1996. Using the “Datt-Ravallion decomposition”, he computed that economic growth accounted for over 85 percent of the poverty reduction in Chile.

Protocol of Pakistan randomized and observational trial to evaluate coronavirus treatment among newly diagnosed patients with COVID-19: Azithromycin, Oseltamivir, and Hydroxychloquine

Background & Objective: This study aimed to assess the clinical effectiveness of Hydroxychloroquine Sulfate (200 mg orally 8 hourlies thrice a day for 5 days), oseltamivir (75 mg orally twice a day for 5 days), and Azithromycin (500 mg orally daily on day 1, followed by 250 mg orally twice a day on days 2-5) alone and in combination (in seven groups). Methods & Analysis: An adaptive design is deployed, set within a comprehensive cohort study, to permit flexibility in fast-changing clinical and public health scenario. Primary outcomes include turning the test negative for coronavirus nucliec acid and in bringing about clinical improvement on day 7 of follow-up on a seven-point ordinal scale. The randomized study will recruit participants of either gender above 18 years of age who will test positive for SARS-CoV-2 on Quantitative Reverse Transcription Polymerase Chain Reaction (PCR). Pregnant or lactating females, and those with severe respiratory distress, or with serious comorbidities will be excluded. Randomization will be done maintaining concealment of allocation sequence using a computer-generated random number list. The sample size will be subjected to periodic reviews by National Data Safety and Monitoring Board. Ethics and Dissemination: The trial is approved by the National Bioethics Committee (No.4-87/NBC- 471-COVID-19-05/20/) and institutional Ethical Review Committee. This clinical trial conducted under Good Clinical Practice is expected to inform patients clinical guidelines for the use of these drugs in newly diagnosed with SARS-CoV-2.Spanish Governmen

IMPACT OF FINANCIAL REPORTING QUALITY ON INVESTMENT EFFICIENCY AROUND THE GLOBE

In developed markets, the documented enhancement of investment efficiency due to financial reporting quality has yet to address the question of whether such a correlation persists in emerging, frontier, and diverse markets. This study investigates the association between financial reporting quality and investment efficiency across 21,741 publicly listed firms spanning 36 countries worldwide, encompassing developed, emerging, frontier, and other markets. Comprehensive accounting data spanning the years 2000 to 2022 is gathered for all listed firms in 40 industries across these 36 countries having 166,453 firms-year observations. Causal connections are examined through fixed-effect regression analysis, supplemented by additional tests and robustness checks utilizing alternative proxies. Concerns about endogeneity are mitigated through 2SLS analysis. The results reveal a positive impact of financial reporting quality on investment efficiency for firms in developed, emerging, frontier, and other markets. Our exploration of both over-investment and under-investment scenarios demonstrates a more pronounced link between financial reporting quality and investment efficiency in the underinvestment scenario. These findings contribute to the existing body of evidence, indicating that beyond its influence on investment efficiency in developed markets, the relationship between financial reporting quality and investment efficiency holds true globally. This encompasses emerging, frontier, and other markets, characterized by varying levels of reporting quality and financial framework

Demographic Changes and Economic Growth in Pakistan: The Role of Capital Stock

Pakistan has experienced a decrease in population growth since the early 1990s leading to an increase in the ratio of working age population, known as demographic dividend. The demographic dividend may lead to higher savings and investments, which spurs economic growth. Given this postulation, the study is the first of its kind to analyse the impact of demographic variables on economic growth through physical capital for Pakistan from 1960 to 2014. In this regard, the demographic change is captured by taking four alternate measures, namely population growth, young age dependency ratio, old age dependency ratio and working age population ratio. In order to examine the channel effect, first the direct impact of demographic changes on physical capital is estimated. Later, the impact of demographically induced capital stock on economic growth is estimated. By using the FMOLS technique, the study concludes that the total negative impact is highest in the case of old age dependency, which means that higher old age dependency is the most threatening demographic change for economic growth. The least harmful demographic change is young age dependency. Moreover, the empirical findings highlight the importance of capital stock as the mediating channel in the demographic change and economic growth relationship. The study recommends effective long- term policies to increase youth employment and to enhance savings for maximising the benefits of demographic dividend. JEL Classification: J11; O47 Keywords: Direct and Indirect Impact, Demographic Transition, Demographic Age Structure, Capital Stock, FMOL

Anti Money Laundering Mechanism: An Application of Principal-Agent Model for Pakistan

In this paper anti money laundering policy of the international financial regime is analyzed in principal agent model perspective. The strategy of the principal for formal agents is deliberated for global financial stability. This strategy encompasses incentive and dis-incentive for cooperation of formal agent. Formal agent by cooperating with principal may induce dis-incentive for informal agent. All the integrating stake holders make decision on the basis of comparison of present value of marginal cost of non-cooperation and present value of returns from cooperation. As the desired objective of the principal is to minimize transaction of money through informal channels therefore it has to include informal agents and clients in the strategy. The successful anti money laundering strategy can only be evolved by the cooperation of all the stakeholders.International Financial Regime, Principal Agent model and Money Laundering

EVALUATION OF PHYTOCONSTITUENTS, AND ANTIMICROBIAL AND ANTIOXIDANT ACTIVITY OF JUGLANS REGIA FROM KASHMIR REGION

Objectives: The main focus of the present study was to evaluate the antimicrobial efficacy (against oral pathogenic bacteria), free radical scavenging activity, and total phenolic and flavonoids content (TPC and TFC) of methanolic extract (ME) of J. regia obtained from Kashmir region. Methods: The plant part was collected and its ME was prepared. ME was subjected to antibacterial activity against oral bacteria such as Staphylococcus aureus, Streptococcus mutans, and Pseudomonas aeruginosa. The free radical scavenging activity was determined using 2,2-diphenyl- 1-picrylhydrazylhydrate (DPPH) assay. TPC and TFC were also determined using a standard curve equation of gallic acid and quercetin. A standard curve using different concentrations of gallic acid and quercetin was drawn from which the concentration of phenols in the test sample was calculated and expressed in mg/g. Results: The ME of J. regia was found effective against all the strains of microorganisms responsible for oral infection understudy. It was also observed that scavenging of DPPH increased with the increase in concentration for both standard ascorbic and methanolic bark extract of J. regia showing its antioxidant potential. The TPC and TFC of ME was found to be 43.35±0.079 and 17.28±0.125. Conclusions: The results obtained from the study clearly indicate that the walnut bark from Kashmir region can be a good candidate for employment as an antibacterial against oral pathogens. J. regia bark was found to be a good source of healthy compounds such as phenolic and flavonoids, suggesting that its bark could be useful to prevent diseases in which free radicals are present

Measuring Training Effectiveness: A Case Study Of Public Sector Project Management In Pakistan

Many organizations do invest precious resources on training and development but without examining how training interventions could effectively contribute in the achievement of organizational objectives, eventually resources are wasted. To yield desired level of performance, it is an imperative that organizations effectively plan, implement and evaluate their training interventions. Several authors have studied the training and development practices but most the studies lack any operational framework for diagnosing the training and development system. This study used Kunder’s (1998) indicators of training ineffectiveness and developed a framework for measuring effectiveness of training and diagnosing problems at various stages of training and development. We developed a questionnaire based on framework and collected data from 115 project directors to measure training effectiveness in project organizations in Pakistan. The study had found that on overall basis training practices are ineffective. Results reveal that there is a poor mechanism of evaluation of training and use of evaluation results. The framework developed by this study can be used in other organizations to measure training effectiveness and diagnose problems at various stages of training cycle

Decomposition of Changes in Poverty Measures: Sectoral and Institutional Considerations for the Poverty Reduction Strategy Paper of Pakistan

Two extremely significant empirical questions on the relationship between growth, distribution and poverty have remained the focus of attention for researchers and academicians. First, how does a change in aggregate poverty reflect intrasectoral gains/losses versus intersectoral shifts in population? Second, how much of an observed change in poverty can be attributed to the changes in the distribution of income, as distinct from growth in average incomes? Standard inequality measures like the Gini coefficient can be misleading in this context. At any rate, the change in an inequality measure can be a poor guide to its quantitative impact on poverty. Ravallion and Huppi (1991) proposed decomposition formulae to throw light on the contributions of sectoral gains and population shifts (on the one hand) and economic growth and changes in inequality (on the other) to aggregate changes in poverty. They found that both population shifts and gains to the urban and rural sectors alleviated aggregate poverty in Indonesia over the 1984-87 period. In addition, they obtained estimates of the relative contributions of growth and greater equity to poverty alleviation in Indonesia. Datt and Ravallion (1992) extended the analysis to study poverty in Brazil and India during the 1980s. Kakwani (1993) explored the relation between economic growth and poverty for Cote d’Ivoire from 1980-85. He developed his own methodology to measure separately the impact of changes in average income and income inequality on poverty. Kakwani (2000) applied the same methodology to analyse changes in poverty in Thailand covering the period from 1988-94. Recently, Contreas (2003) examined the evolution of poverty and inequality in Chile between 1990 and 1996. Using the “Datt-Ravallion decomposition”, he computed that economic growth accounted for over 85 percent of the poverty reduction in Chile