214 research outputs found
Economic Growth and Income Inequality Relationship: Role of Credit Market Imperfection
This paper examines the empirical relationship between economic growth and income inequality both at aggregate and regional level using more comparable data set for 69 developing countries over the period 1965-2003. The study identifies credit market imperfection in low-income developing countries as the likely reason for a strong negative relationship between income inequality and economic growth. While in short run the relationship between growth and income inequality might be positive but over time more income inequalities reduces economic growth. Moreover, this paper finds evidence that more physical and human capital investment, openness to trade and higher government spending have statistically significant impact on enhancing economic growth and reducing inequality.Economic Growth, Income Inequality, Poverty, Credit Market Imperfection, Trade Openness
Corruption and financial intermediation in a panel of regions: cross-border effects of corruption
The importance of financial market reforms in combating corruption has been highlighted in the theoretical literature but has not been systemically tested empirically. In this study we provide a first pass at testing this relationship using both linear and non-monotonic forms of the relationship between corruption and financial intermediation. Our study finds a negative and statistically significant impact of financial intermediation on corruption. Specifically, the results imply that a one standard deviation increase in financial intermediation is associated with a decrease in corruption of 0.20 points, or 16 percent of the standard deviation in the corruption index and this relationship is shown to be robust to a variety of specification changes, including: (i) different sets of control variables; (ii) different econometrics techniques; (iii) different sample sizes; (iv) alternative corruption indices; (v) removal of outliers; (vi) different sets of panels; and (vii) allowing for cross country interdependence, contagion effects, of corruption.corruption; contagion effects; financial Intermediation; panel data
Corruption and the military in politics: theory and evidence from around the world
Recent theoretical developments and case study evidence suggests a relationship between the military in politics and corruption. This study contributes to this literature by analyzing theoretically and empirically the role of the military in politics and corruption for the first time. By drawing on a cross sectional and panel data set covering a large number of countries, over the period 1984-2007, and using a variety of econometric methods substantial empirical support is found for a positive relationship between the military in politics and corruption. In sum, our results reveal that a one standard deviation increase in the military in politics leads to a 0.22 unit increase in corruption index. This relationship is shown to be robust to a variety of specification changes, different econometric techniques, different sample sizes, alternative corruption indices and the exclusion of outliers. This study suggests that the explanatory power of the military in politics is at least as important as the conventionally accepted causes of corruption, such as economic development.corruption; military in politics; cross sectional; panel data
Nuclear Security Education at Pakistan Institute of Engineering and Applied Sciences (PIEAS): Current Status, Future Prospects and the Lessons Learnt
In this paper, the details of nuclear security education at Pakistan Institute of Engineering and Applied Sciences (PIEAS) have been discussed. Nuclear Security education was initiated at PIEAS as a sub-specialty of its MS Nuclear Engineering Program in October 2009. Two courses, Nuclear Security (NE-581) and Physical Protection Systems (NE-582) have been offered on regular basis in the 3rd and 4th semesters. To date, 72 students have been graduated with this sub-specialty. The most important lesson learnt is that introduction of nuclear security related courses in nuclear engineering program has opened up new venues of applications of nuclear engineering principles in the area of nuclear security. It is also helping in the development of nuclear security culture among the nuclear engineering professionals working inside the nuclear facilities. PIEAS has maintained a close collaboration with all stakeholders at national level to facilitate the development of human resource in the area of nuclear security. PIEAS has also extended its full cooperation with International Atomic Energy Agency (IAEA) for the development of nuclear security educational network, such as INSEN (International Nuclear Security Education Network), and NSSC (Nuclear Security Support Centers) Network. PIEAS will continue its long journey of imparting effective nuclear security education by introducing more nuclear security related courses, initiating faculty development programs and developing required nuclear security education related infrastructure in the form of laboratories in the future
Poverty Consequences of Globalisation in OIC Countries: A Comparative Analysis
Williamson (2002) points out that ‘the world has seen two
globalisation booms over the past two centuries and one bust. The first
global century ended with World War I and the second started at the end
of World War II, while the years in between were ones of anti-global
backlash’. In the first period of globalisation, poverty fell from 84
percent in 1820 to 66 percent in 1910. In the second period of
globalisation poverty fell from 55 percent in 1950 to 24 percent in
1992. In the inter-war period, the world population living in poverty
remains probably stagnant. The historical negative relationship between
globalisation and poverty masks variations within and between countries
in their experiences with globalisation. Many decades of increasing
globalisation have not yet silenced the debate over the benefits of
globalisation. The fierce street protests surrounding the ministerial
meeting of the WTO and similar protests at the World Bank and the IMF
show that anti-globalisation debate is getting strong
Panel Data Analysis of Press Freedom and Women Empowerment
More equal economic, social and political rights for women have long been part of civil and political right movements. It is widely believed that women’s rights are important for greater economic prosperity, good governance and social equality. However, women are still being discriminated in many parts of the world. How women’s rights can be protected? To answer this question, the literature has highlighted the importance of free media in promoting women’s rights. The extant literature on media and women rights, however, is largely limited to descriptive analysis and theoretical arguments. Moreover, the available evidence is confined to few case studies and anecdotal stories, which cannot be generalized globally. This study contributes in the literature by empirically investigating the relationship of press freedom with women empowerment using a large panel of 160 countries from 1996 to 2011. For empirical analysis, the ordered logit method is used. The empirical finding confirms that press freedom is an effective tool to empower women’s economic, political and social rights. Findings of the study are shown to be robust to different specifications, sub-samples, regional controls and different forms of women empowerment.
JEL Classifications Codes: C23, J16, Z1
The Impact of Trade Liberalization on Health: Evidence from Pakistan
The literature predicts both positive and negative health outcomes in developing economies as a result of increasing trade. Does openness to trade help to improve health indicators in the case of Pakistan? This study attempts to answer this question using data from 1975 to 2016. This study uses life expectancy and infant mortality as health indicators while trade to GDP ratio as trade openness indicator. For robustness analysis, the study uses international trade taxes, exports to GDP ratio and imports to GDP ratio. The empirical results of the study show that 1% increase in trade to GDP ratio significantly decreases life expectancy by 0.05 years and significantly increases infant mortality by 0.47 deaths. Thus, trade causes adverse effects on health indicators in the case of Pakistan
Economic Growth and Income Inequality Relationship: Role of Credit Market Imperfection
The 20th century has witnessed unequalled success in improving
the living standard of people in most part of the world. According to
World Bank annual Statistical reports, poverty has declined
significantly in developing countries over the past twenty years but the
progress has been uneven. The number of people living in poverty fell
from 1.5 billion in 1981 to 1.1 billion in 2001. However, many
low-income developing countries are still trapped in vicious circle of
poverty. In Sub-Saharan Africa, the number of poor rose from 41 percent
to 46 percent between 1981 to 2001.While in Eastern Europe and Central
Asia, the numbers of poor people have risen to around 20 percent in
2001.1 Therefore; reduction of widely scattered poverty is the most
challenging goal for low income developing countries. Economic growth is
considered to be a powerful force for reducing poverty. High and
sustained economic growth increases the labor demand and wages which in
return will reduce poverty. Similarly, better earnings as a result of
reduction in poverty lead to increase productivity and growth. But the
extent of poverty reduction as a result of economic growth depends on
how the distribution of income changes with economic growth and on
initial Inequalities in income. If income inequality increases, then
economic growth does not lead to a significant poverty reduction. Many
developing countries achieved high growth rates in different periods but
poverty does not reduce significantly in these periods due to increase
in income inequalities. Most South and East Asian economies grew at
higher per capita rates since early 1970 along with rise in income
inequality over time. In contrast, Latin American countries grew by less
than the half of average growth rates in South and East Asia while
maintaining high income inequality.2 The differences in income
inequality at a given rate of growth require that efforts to reduce
poverty by stimulating growth are not sufficient and need to be
complemented by efforts to reduce income inequalities
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