The Long-Run Relationship among Money, Income And The Price Level In Pakistan

This paper explores whether a significant long-run relationship exists between money, price level and GDP in the Pakistani economy. We apply time-series econometric techniques to quarterly data for the Pakistan economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and Cointegration. Certain characteristics of the Pakistani experience suggest that there is a stable long run relationship. Radical changes in monetary policy have significantly affected the movement of the macroeconomy. We find that a long-run relationship exists between money supply (M1), GDP and the CPI

The Long-run Relationship among Money, Income and the Price Level in Pakistan

This paper explores whether a significant long-run relationship exists between money, price level and GDP in the Pakistani economy. We apply time-series econometric techniques to quarterly data for the Pakistan economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and Cointegration. Certain characteristics of the Pakistani experience suggest that there is a stable long run relationship. Radical changes in monetary policy have significantly affected the movement of the macroeconomy. We find that a long-run relationship exists between money supply (M1), GDP and the CPI

Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy

Tourism activities are considered to be one of the major sources of economic growth. It can be regarded as a mechanism of generating the employment as well as income in both formal and informal sectors. Tourism supplements the foreign exchange earnings derived from trade in commodities and some times finance the import of capital goods necessary for the growth of manufacturing sectors in the economy. On the other hand rapid economic growth in the developed economies attracts foreign travels (Business travels), which leads to an increase in the foreign reserve of the country. Over the past several decades, international tourism has been gaining importance in many economies of the world. According to the World Tourism Organisation (2002), expenditures by 693 million international tourists traveling in 2001 totaled US $462 billion, roughly US$ 1.3 billion per day worldwide. In addition, tourists spending have served as an alternative form of exports, contributing to an ameliorated balance of payments through foreign exchange earnings in many countries. The rapid growth of tourism led to a growth of household incomes and government revenues directly and indirectly by means of multiplier effects, improving balance of payments and provoking tourism-promoted government policies. As a result, the development of tourism has generally been considered a positive contribution to economic growth

The impact of terrorism on tourism demand in Pakistan

The terrorist attacks of September 11, 2001 in the United States (US) exposed the vulnerabilities of the tourism industry to changes in perception as to travel safety and security. Terrorism and threats to national security are documented to have impacts on tourism demand. Tourism activities are multi-pronged with mostly positive impact on any economy. This study attempts to investigate impacts of terrorist incidents in Pakistan. The proposed approach is a stated OLS and Autorgrasive distributed lag Modem (ARDL) model from 1985 to 2008 taken at different points in time in relation to terrorist attacks. Results show that the attacks caused a shock to tourists’ utility, and a change in the image profile of destinations. Moreover, it was found that destination experienced a strongly negative impact on their image and attractiveness

Role of tourism in long term economic growth in Pakistan

Tourism activities are multi-pronged with mostly positive impact on any economy. This study attempts to investigate the role of tourism in the long run economic development in case of Pakistan. The tourism led growth hypothesis is confirmed through autoregressive distributed lag (ARDL) and vector error correction model econometric framework using a time series data for the years that span from 1975 to 2005. The study explores the potential contribution of tourism to economic growth and development. The combination of results pointed a stable long run relationship among tourism, exchange rate and economic expansion in the Pakistan economy. The results show that receipts from the tourism industry significantly contribute to the current level of gross domestic product and the economic growth of Pakistan economy both in short run and long run. Our findings imply that Pakistan could enhance its shortrun economic growth by strategically strengthening its tourism industries

Molecular study of pathogenic and saprophytic fungal species on infected parts of Malus pumila L. of district Qilla Abdullah, Balochistan, Pakistan

Apple (Malus pumila L) of the family Rosaceae, most cultivated fruit in temperate regions of the world and is used fresh or processed. The apple production is affected by several pathogens including fungi.  The present study was designed to identify disease-causing agents that reduce fruit production in the district Qilla Abdullah of Balochistan, Pakistan, which is the main apple production area of the province. Three varieties of apple: ‘Tur-Kulu’ (‘Red Delicious’), ‘Shin-Kulu’ (‘Golden Delicious’), and ‘Kaja’ were selected. Infected leaf samples were collected from eight different sites of tehsil Gulistan, district Qilla Abdullah. The cultures of fungal micro-flora were grown on two media, potato dextrose agar (PDA), and malt extract agar (MEA) followed by incubation for one week. The resulting colonies were observed under a microscope and identified based on morphological characters. Predominant fungal species was identified through ITS marker and PCR amplification. The isolated pathogens belonged to Zygomycota and Ascomycota divisions. The pathogens found were Aspergillus niger, A. oryzae, A. terrus, Colletotrichum gloeosporioides, Fusarium oxysporum, Mucor spp., Penicillium expansum, and one species of Absidia as well as Rhizopus. Colletotrichum gloeosporioides were predominantly found in all varieties. Morphological and phylogenetic analysis confirmed the identity of Colletotrichum gloeosporioides. As a result of this study, the predominant pathogen species Colletotrichum gloeosporioides is one of the causes of leaf infection in apple varieties

Agricultural Use of Untreated Urban Wastewater in Pakistan

Untreated wastewater is used for irrigation in over 80% of all Pakistani communities with a population of over 10,000 inhabitants. The absence of a suitable alternative water source, wastewater’s high nutrient value, reliability, and its proximity to urban markets are the main reasons for its use. Two case studies in Pakistan studied the impact of untreated wastewater use on health, environment, and income. The results showed a high increase in hookworm infections among wastewater users and a clear over-application of nutrients through wastewater. Heavy metal accumulation in soil over a period of 30 years was minimal in Haroonabad, a small town with no industry, but showed initial signs of excess levels in soil and plant material in Faisalabad, a city with large-scale industry. The impact of wastewater irrigation on household income was considerable as wastewater farmers earned approximately US$300/annum more than farmers using freshwater. Both case studies showed the importance of wastewater irrigation on local livelihoods. The lack of financial resources at municipal and provincial levels for wastewater treatment calls for other measures to reduce the negative impact of untreated wastewater use on health and environment, for example to manage groundwater, regular (canal) irrigation water, and wastewater conjunctively, and regular deworming treatment of those exposed to wastewater

Agricultural Use of Untreated Urban Waste water in Pakistan

Untreated waste water is used for irrigation in over 80% of all Pakistani communities with a population of over 10,000 inhabitants. The absence of a suitable alternative water source, waste water’s high nutrient value, reliability, and its proximity to urban markets are the main reasons for its use. Two case studies in Pakistan studied the impact of untreated waste water use on health, environment, and income. The results showed a high increase in hookworm infections among waste water users and a clear over-application of nutrients through waste water. Heavy metal accumulation in soilover a period of 30 years was minimal in Haroonabad, a small town with no industry,but showed initial signs of excess levels in soil and plant material in Faisalabad, a city with large-scale industry. The impact of waste water irrigation on household income was considerable as waste water farmers earned approximately US$300/annum more than farmers using freshwater. Both case studies showed the importance of waste water-irrigation on local livelihoods. The lack of financial resources at municipal and provincial levels for waste water treatment calls for other measures to reduce the negative impact of untreated waste water use on health and environment, for example to manage groundwater, regular (canal) irrigation water, and waste water conjunctively,and regular deworming treatment of those exposed to waste water.