Impact of Higher Education on Economic Growth of Pakistan

This paper investigates the returns of higher education on economic growth of Pakistan from 1972 to 2008 through the application of Cobb-Douglas production function. The prime objective of the study is to identify and establish a link between the higher education and economic growth of Pakistan. For this purpose the impact of higher education enrollment on economic growth is analyzed. An attempt is made, in this study, to analyze the educational trends, the strategies and challenges for higher educational and its role in overall development in the country. Furthermore, the study also delves that a well educated labor force appears to significantly affluence the economic growth. The research also provides some implications for the policy purpose to develop higher education so as to curb the use of expatriate manpower in different sectors of the economy.Education: Economic Growth: Cobb Douglas PF

Surmising Consumer Demand System & Structural Changes Using Time Series Data

Consumer demand for food and non-food items in Pakistan has attracted the attention of various researchers. They have employed different parametric approaches, like single equation, double log models, linear expenditure system and extended linear expenditure system. Most of the studies were based on household income and expenditure survey data. Like other household surveys, HIES data do not give information about prices, due to which price elasticities could not estimated. This task could not be accomplished partly because, in order to examine the existence and the nature of structural change and estimation of price elasticities, time series data was required. In this context the present study is a step ahead. In this analysis time series data has been used on meat group from 1950-51 to 2003-2004. We estimated the linear approximation of almost ideal demand system (LA/AIDS). The model is used to estimate the parameters of meat demand equations. Furthermore, the existence and the nature of the structural change is checked by using LA/AIDS. The results from LA/AIDS model show a shift in consumer demand in case of chicken in 1991-92. Price and expenditure elasticities have also been calculated. The estimates of price and income elasticities are also consistent with economic theory.Consumer Demand: Empirical Estimation: LAAIDS: Time Series Data: Pakistan

Impact of Higher Education on Economic Growth of Pakistan

This paper investigates the returns of higher education on economic growth of Pakistan from 1972 to 2008 through the application of Cobb-Douglas production function. The prime objective of the study is to identify and establish a link between the higher education and economic growth of Pakistan. For this purpose the impact of higher education enrollment on economic growth is analyzed. An attempt is made, in this study, to analyze the educational trends, the strategies and challenges for higher educational and its role in overall development in the country. Furthermore, the study also delves that a well educated labor force appears to significantly affluence the economic growth. The research also provides some implications for the policy purpose to develop higher education so as to curb the use of expatriate manpower in different sectors of the economy

Impact of Higher Education on Economic Growth of Pakistan

This paper investigates the returns of higher education on economic growth of Pakistan from 1972 to 2008 through the application of Cobb-Douglas production function. The prime objective of the study is to identify and establish a link between the higher education and economic growth of Pakistan. For this purpose the impact of higher education enrollment on economic growth is analyzed. An attempt is made, in this study, to analyze the educational trends, the strategies and challenges for higher educational and its role in overall development in the country. Furthermore, the study also delves that a well educated labor force appears to significantly affluence the economic growth. The research also provides some implications for the policy purpose to develop higher education so as to curb the use of expatriate manpower in different sectors of the economy

Surmising Consumer Demand System & Structural Changes Using Time Series Data

Consumer demand for food and non-food items in Pakistan has attracted the attention of various researchers. They have employed different parametric approaches, like single equation, double log models, linear expenditure system and extended linear expenditure system. Most of the studies were based on household income and expenditure survey data. Like other household surveys, HIES data do not give information about prices, due to which price elasticities could not estimated. This task could not be accomplished partly because, in order to examine the existence and the nature of structural change and estimation of price elasticities, time series data was required. In this context the present study is a step ahead. In this analysis time series data has been used on meat group from 1950-51 to 2003-2004. We estimated the linear approximation of almost ideal demand system (LA/AIDS). The model is used to estimate the parameters of meat demand equations. Furthermore, the existence and the nature of the structural change is checked by using LA/AIDS. The results from LA/AIDS model show a shift in consumer demand in case of chicken in 1991-92. Price and expenditure elasticities have also been calculated. The estimates of price and income elasticities are also consistent with economic theory

Surmising Consumer Demand System & Structural Changes Using Time Series Data

Consumer demand for food and non-food items in Pakistan has attracted the attention of various researchers. They have employed different parametric approaches, like single equation, double log models, linear expenditure system and extended linear expenditure system. Most of the studies were based on household income and expenditure survey data. Like other household surveys, HIES data do not give information about prices, due to which price elasticities could not estimated. This task could not be accomplished partly because, in order to examine the existence and the nature of structural change and estimation of price elasticities, time series data was required. In this context the present study is a step ahead. In this analysis time series data has been used on meat group from 1950-51 to 2003-2004. We estimated the linear approximation of almost ideal demand system (LA/AIDS). The model is used to estimate the parameters of meat demand equations. Furthermore, the existence and the nature of the structural change is checked by using LA/AIDS. The results from LA/AIDS model show a shift in consumer demand in case of chicken in 1991-92. Price and expenditure elasticities have also been calculated. The estimates of price and income elasticities are also consistent with economic theory

Demand for Meat; Seprability and Structural changes (A Nonparametric Analysis)

This study provides information on the structure of the consumer demand for meat group (1950-51 to 2004-2005) in Pakistan. Nonparametric tests were used on the data set to check the consistency of the data with the theory of revealed preferences, e.g. the Afriat inequalities, GARP and the condition of weak separability. We started with 26 different consumer commodities and employed nonparametric tests to the different groups of commodities. But all other groups except meat group showed violations of generalized axiom of revealed preferences (GARP). So we limited our analysis only to meat group. It was found that there was no violation of GARP in our data set and hence consistent with Afriat inequalities. The data set also met the condition of weak separability. These test procedures imply that the data could have been generated by stable preferences. Furthermore, the existence and the nature of the structural change is checked by using GARP. Tests of structural change do support a shift in demand for fish in 1991-92

Consumption Behavior and Household Economies of Scale An Analysis of Variations across Rural-Urban Regions of Pakistan

The study attempts to explore the expenditure elasticities of various food items across the provinces of Pakistan while taking in to account the rural and urban regions separately. Household Integrated Income and Consumption Survey (hereafter HIICS) data for the year 2015-2016 is utilized. In addition, the household economies of scale towards the consumption are also being focused on the same lines. The study has made use of double log specification of Engel curve. The included 20 food items are appeared as normal commodities having expenditure elasticity less than one. All the expenditure elasticities have positive signs and are less than one which shows that all the food commodities are necessities and normal goods i.e. as income increases their expenditure will increase at a decreasing rate. The negative sign of the household size depicts that there is a negative relationship with consumption i.e. supports the notion that households with higher family size enjoy the economies of scale towards the consumption of food

Accounting Discretion, Loan Loss Provision in Financial Distress: Evidence from Commercial Banks

This study explores the association between earning management practices and financial distress in commercial banks. Earning management is measured through discretionary loan loss provisions and non-discretionary loan loss provisions. Modified Altman’s Z-score has been used as a proxy for financial distress. Panel regression with fixed and random effect has been employed for empirical analysis. The study finds a significant positive association between DLLP, NDLLP and financial distress in terms of the Altman Z-score. In the case of NDLLP, liquidity reduces the probability of financial distress. Whereas, a bank’s SIZE, LEVG and AQ enhance the likelihood of financial distress. The robustness tests were applied to find the association between NDLLP and FD using logistic regression to validate baseline estimates results of the random effect model. The findings of this study have implications for the policymakers, regulators and internal stakeholders to devise effective regulatory measures for well-informed investment decisions

Monolithic ontological methodology (MOM): An effective software project management approach

Due to rapid changes in software applications, especially incorporating the demands of self-regulating technologies becomes a major challenge in software projects. This research focuses on technological, managerial, and procedural challenges, which are believed to be the most significant factors contributing to projects failure. To address these issues, this study proposes Monolithic Ontological Methodology (MOM) which addresses the weakness in the existing benchmark methodologies including PRINCE2, Extreme Programming, and Scrum in terms of project management, quality control, and stakeholder involvement. The MOM consists of seven phases and each phase has the required number of iterations until it is approved by management. The updated information is recorded and shared with the respective teams. The standard documentation with control language is structured by descriptive logic (DL) that reduces ambiguity and technical debate. Furthermore, the illustration of the MOM includes figures, logical expressions, and descriptions. To demonstrate the effectiveness of the proposed methodology, an Analytic Hierarchy Process (AHP) was performed. The findings indicate the validity of MOM concerning considered performance metrics. Although the applicability of the proposed methodology involves relatively more documentation and formalities. The adaptive nature of MOM makes it suitable for the standard organization and brings sustainability to the organization by implementing distributed project management