Does financial instability weaken the finance-growth nexus? A case for Pakistan

The paper investigates whether financial instability weakens finance-growth nexus in case of Pakistan. In doing so ARDL bounds testing approach is used for cointegration among variables over the period of 1971-2005. The results show that financial instability does weaken finance-growth nexus. Trade openness increases economic growth through spillover effects. Increasing inflation retards economic growth i.e., lower inflation rates are necessary for sustained economic growth. Political instability impedes economic growth. The present study indicates new direction for policy makers to sustain the pace of economic growth and avoid financial crisis.Financial Crisis, Financial Development, Economic Growth

Does financial instability weaken the finance-growth nexus? A case for Pakistan

The paper investigates whether financial instability weakens finance-growth nexus in case of Pakistan. In doing so ARDL bounds testing approach is used for cointegration among variables over the period of 1971-2005. The results show that financial instability does weaken finance-growth nexus. Trade openness increases economic growth through spillover effects. Increasing inflation retards economic growth i.e., lower inflation rates are necessary for sustained economic growth. Political instability impedes economic growth. The present study indicates new direction for policy makers to sustain the pace of economic growth and avoid financial crisis.Financial Crisis, Financial Development, Economic Growth

The Contemporaneous Correlation of Structural Shocks and Inflation— Output Variability in Pakistan

Monetary policy has changed in a number of ways during the last two decades . Along with the other characteristics, modern monetary policy is forward-looking, and the central banks respond contemporaneously to structural shocks that are expected to make inflation deviate from the future targets. This study aims at investigating this aspect of the monetary policy for Pakistan. Using a modified version of Structural Vector Autoregression (SVAR) developed by Enders and Hurn (2007), we have found a weak response of policy to supply-side shocks as the correlation coefficient between the demand and supply shocks is only 0.041. Moreover, the results show that the demand shocks have no significant contribution to output variability. On the other hand, both the demand and supply shocks, along with the foreign supply shocks, significantly contribute to inflation variability.Monetary Policy, Contemporaneous Correlation, Pakistan, Structural Shocks, Vector Autoregression

Does economic growth cause terrorism in Pakistan?

This paper analyzes the relationship between terrorism and economic growth for Pakistan by incorporating capital and trade openness. We used the data from 1971-2010 and have applied ARDL bounds testing approach to cointegration to examine the long run relationship between the variables. The VECM Granger causality approach is used to detect the direction of causality between terrorism and economic growth. Our empirical results confirm the existence of long run relationship between economic growth and terrorism. The Granger causality analysis indicates bidirectional causality between terrorism and capital, trade openness and capital, and terrorism and trade openness. However, unidirectional causality is found running from economic growth to terrorism.Terrorism, Economic Growth, Cointegration and Causality

Oil Price Shocks, Systematic Monetary Policy and Economic Activity

This study quantifies the impact of oil price shocks and the subsequent monetary policy response on output for Pakistan. It employs a quarterly Structural Vector Auto-regression framework for the period 1993–2015. It first discovers that Hamilton’s (1996) Net Oil Price Increase indicator appropriately reveals most of the oil price shocks hitting Pakistan’s economy. We find that a contractionary monetary policy, resulting from the oil price shocks, contributes to significant output loss in Pakistan. After encountering the Lucas critique, the present study finds that around 42 percent of the output loss is due to the ensuing tight monetary policy. This suggests that the central bank of Pakistan can reduce the impact of oil price shocks by reducing its intervention in the market. JEL Classification: E1, E3, E5 Keywords: Oil Price Shocks, Monetary Policy, Structural Vector Autoregressio

Does financial instability weaken the finance-growth nexus? A case for Pakistan

The paper investigates whether financial instability weakens finance-growth nexus in case of Pakistan. In doing so ARDL bounds testing approach is used for cointegration among variables over the period of 1971-2005. The results show that financial instability does weaken finance-growth nexus. Trade openness increases economic growth through spillover effects. Increasing inflation retards economic growth i.e., lower inflation rates are necessary for sustained economic growth. Political instability impedes economic growth. The present study indicates new direction for policy makers to sustain the pace of economic growth and avoid financial crisis

Does financial instability weaken the finance-growth nexus? A case for Pakistan

The paper investigates whether financial instability weakens finance-growth nexus in case of Pakistan. In doing so ARDL bounds testing approach is used for cointegration among variables over the period of 1971-2005. The results show that financial instability does weaken finance-growth nexus. Trade openness increases economic growth through spillover effects. Increasing inflation retards economic growth i.e., lower inflation rates are necessary for sustained economic growth. Political instability impedes economic growth. The present study indicates new direction for policy makers to sustain the pace of economic growth and avoid financial crisis

Does financial instability weaken the finance-growth nexus? A case for Pakistan

The paper investigates whether financial instability weakens finance-growth nexus in case of Pakistan. In doing so ARDL bounds testing approach is used for cointegration among variables over the period of 1971-2005. The results show that financial instability does weaken finance-growth nexus. Trade openness increases economic growth through spillover effects. Increasing inflation retards economic growth i.e., lower inflation rates are necessary for sustained economic growth. Political instability impedes economic growth. The present study indicates new direction for policy makers to sustain the pace of economic growth and avoid financial crisis

EFFECTIVENESSTHE USE OF ENTREPRENEURSHIP LEARNING MODULE BASED TUTORIAL MULTIMEDIA IN VOCATIONAL HIGH SCHOOL

Abstract: The purpose of this research was to examine the effectiveness of the use of Entrepreneurship learning modules based tutorial multimediaconsists of two indicators, namely:(1) effectively enhance students’ creativity, and (2) effectively enhance the learning outcomes of students. The entrepreneurship Module-based multimedia, equipped with CD tutorials that can provide motivation and inspiration for students to assess the material well and put it into practice through tasks, to produce graduates students who are qualified, productive and able to compete in the era of the Asean Economic Community (AEC). The method used to test the effectiveness of the use of Entrepreneurship module based multimedia tutorial is a Quasi experimental with the shape of Time Series Design, using one group was given treatment. Before the treated group were given a pretest to four times, with a view to determine the stability and clarity of the circumstances of the group before being treated.Samples were taken proportionatelyof students in class XI numbered 30 people. The research located in SMKN 5 Makassar, South Sulawesi, on even semester 2015/ 2016. Based on observations and analysis of data on the use of Entrepreneurship module based tutorial multimedia, the results of this research are: (1) The use of Entrepreneurship learning modules based tutorial multimedia effectively improve the creativity of learners, (2) The use of Entrepreneurship learning modules based tutorial multimedia can enhance the learning outcomes of students. Thus, it was concluded that the entrepreneurial learning modules based on effective use of multimedia in vocational high schools, because it can raise achievement motivation of learners, so that creativity and achievement of learners can be increased