Spatial Differences and Socioeconomic Determinants of Health Poverty

The study aims to develop health poverty index (HPI) using the Alkire Foster (AF) Method for Pakistan based on district representative data obtained from Pakistan Social and Living Standards Measurement (PSLM) 2012-13. Using HPI, this study investigates the spatial differences of health poverty at sub-national level and explores the socioeconomic determinants. The analysis reveals that the headcount health poverty is 41 percent in Pakistan. Further, the ratio is very high in rural areas (50 percent) as compared to urban areas (22 percent). Provincial analysis shows that Punjab is the least poor province (36 percent) while Balochistan is the poorest province (62 percent). The majority of the households are deprived in term of cost of health services, post-natal care and child immunisation. Empirical analysis shows that income, regional variation, education and awareness play very important role in explaining health poverty. To eradicate health deprivation, area and dimension specific policies are required to make efficient use of scarce resources. JEL Classification: I12, I32, J18 Keywords: Health Poverty, Spatial Analysis, Alkire Foster Metho

Pakistan’s Bilateral Trade under MFN and SAFTA: Do Institutional and Non-Institutional Arrangements Matter?

The purpose of this study is two fold. First, to estimate the impact of institutional and non-institutional arrangements on bilateral trade, and second to analyse the impact of SAFTA on bilateral trade in the short as well as in the long run. The empirical analysis which is based on the panel of eight South Asian countries, comprising data over the period i.e. 1975–2013 is conducted using fixed effects model along with Pooled Mean-Group (PMG) estimator for estimating the short and long-run relationships. The analysis has shown that trade agreements including South Asian Free Trade Area (SAFTA) and the Most Favoured Nation (MFN) are not effective in promoting trade, due to low institutional quality and stringent non-institutional arrangements, including high tariff along with low physical infrastructure. Further empirical analysis has shown that both SAFTA and MFN can only contribute to bilateral trade significantly, if complemented by institutional framework. As a policy lesson, to improve the trade ties between India and Pakistan, improvement in physical as well as soft infrastructure is required. Any trade agreements between the two, including MFN can only be effective, when it is supported by a well-defined and enforced institutional framework that ensure the implementation of policy reforms needed to reduce tariff rate and remove non-tariff barriers

A Bibliometric Analysis of Research on Zika Virus Indexed in Web of Science

Background: The spread of Zika virus is of great concern as it is recently becoming the third global infectious disease outburst after H1N1 flu and the Ebola virus infections. Centre for Disease Control (CDC) categorized Pakistan, India, and Bangladesh as countries vulnerable to Zika Risk. Realizing health implications of this emerging epidemic, it is a dire need to build an all-inclusive view of the status of research on Zika virus disease, and a lucid picture of the research output and scientific collaborations in the field.Methods: All the articles published globally on Zika virus during 2008-2017 and documented in Web of Science were analyzed using Microsoft Excel and Word Cloud tool. The data were extracted from all databases of the Web of Science, obtaining a total of 3384 articles for analysis.Results: 3384 records on Zika virus research were indexed in the Web of Science database during 2008-2017. The retrieved data indicate that over the past ten years, not much research has been done on this virus and the focus shifted to research on Zika in the last three years only and the number of researches increased from just 38 in 2015 to 1962 in 2017. Pakistan has a low share in global publications on Zika with a total number of 24 publications. “Honein Margaret” is considered the most active researcher in the field, by contributing to 80 articles. Most of the published research on Zika virus is from US (47.07%).Conclusion: When compared with other countries, the contribution of Pakistan is negligible with a global share of 0.71% on Zika virus. Serious focus on research is needed in this field realizing the severe medical, ethical, and economic implications of this emerging epidemic in Pakistan

Stevia rebaudiana: A Bibliometric Analysis from 1966-2019

This study has been carried out to analyze research papers published on Stevia rebaudiana during 1966-2019 using a bibliometric approach. The data is mined from the Web of Science Core Collection,  returning 1835 articles on the topic for analysis. The study documents most productive countries and authors delved into Stevia research. India appears to be the most productive country, followed by USA. The top-cited articles, top-organizations and funding agencies, and journals with most publications on subject are also identified. The analysis shows an increasing trend for research on Stevia during recent years with an Annual Percentage Growth Rate of 1.29 and the number jumped from only 03 publications in 1966-1971 to 1000 in 2014-2019. Pakistan has a comparable global share of 2.84% on Stevia research but further attention on research is needed in this field apprehending the commercial and health potential of this plant and considering the status of Pakistan as an agrarian country.Keywords: Stevia rebaudiana; Economic potential; Research productivity; Bibliometri

FIRM’S FACTORS INTEGRATION WITH DEBT OVERHANG IN KARACHI STOCK EXCHANGE

It is hypothesized in current study that firm’s factors are significantly correlated with debt overhang. And it is aimed to investigate in current study. The data is acquired through convenience sampling and the sample range of the data is five years from 2010 to 2014. Thus, the study found working capital, leverage, profitability and firm size significant with debt overhang. While, dividend payout is found insignificant. Hence, managers have to pay serious attention to their company debt level to overcome debt overhang. Key Terms: Working Capital, Leverage, Debt Overhang, Connivance Sampling, Profitability, Firm Siz

EARNINGS DISCLOUER, IDIOSYNCRATIC RISK & CREDIT RISK

The current study aims to investigate the nature of relationship between idiosyncratic risk, earnings disclosure and credit risk. The study is investigated in Asian context specifically in Pakistan. And it is hypothesized that idiosyncratic risk and earnings discourser gives rise to credit risk. Moreover, the data is acquired through connivance sampling technique and study results revealed it findings with respect to historic findings. Key Terms: Earnings Disclosure, Idiosyncratic Risk, Credit Risk, Convenience Samplin

Working Capital Management Antecedants Impact on Firm Specific Factors: A Ten Year Review of Karachi Stock Exchange

The study aims of investigate relationship of working capital antecedents and profitability of the company. Seven variables are taken as proxy variable to measure working capital and its management. Population of the study is based on Karachi stock exchange listed companies. The sample of study is manufacturing sector of Pakistan. Thus, sample period contains on the ten years from (2005-2014). All variables have sound reliability and data is normally distributed. Therefore, correlation and regression analyses are applied. Hence, study revealed significant relationship of working capital management and profitability. Key Words: Working capital, profitability, Normality, correlation, regression, sample period, normally distributed.

A Spill over Relationship - Corporate Governance and Investor Reaction: A Case of Karachi Stock Exchange

The current study aims to investigate the relation of corporate governance with reaction of investor towards investment. The sample of the study contains on 114 companies of manufacturing sectors specifically and sample is acquired from (2004-2013). Thus, single and composite correlation is applied to check relationship of variables. Moreover, univariate and multivariate both regression methods are applied and study concluded negative insignificant relationship of variables of study. Keywords: Corporate Governance, Investor Reaction, Univariate, Multivariate, Composite

Electricity Demand in Pakistan: A Nonlinear Estimation

Pakistan has plunged into darkness because of severe electricity shortage over the last few years. The electricity shortfall has reached 4,250 MW with demand standing at 16,400 MW and generation at 12,150 MW in June 2013 (PEPCO). The load shedding and power blackouts act as a binding constraint to the economic growth through their impact on employment, trade and poverty [Kessides (2013)]. The existing statistics reveal that Pakistan has witnessed low GDP growth rate during the periods of low or negative electricity growth and during the periods where electricity growth picked up there is an increase in GDP growth rate [Pakistan (2013)]. The power crisis has destroyed the industrial sector of Pakistan. Around 40 percent factories and industry units have now been closed and around 7.5 percent of labour force is out of jobs only because of this dilemma.

New Direction to Evaluate the Economic Impact of Peace for Bilateral Trade among World Economies

Earlier researchers have been working to relate globalisation, trade or free trade as an instrument for bringing peace and reducing conflict in the world. But this study attempts to open up a new debate that how social unrest in terms of lack of pace in nations leads to failure of economic policing and outcomes. In past, few researchers have tried to show peaceful environment as a generator for economic progress by building theoretical models, but limited empirical analysis has been conducted so far. This brings a novelty in the present study that for the first time a large set of data covering 155 nations has been used to explore the relationship between these two desired variables i.e. trade related variables and peace, in new direction and employing new indicators defining extent of peace in nations. Panel co-integration technique has been applied along with Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) models to know the parametric and non-parametric point estimates of variables. Data has been extracted from Economic Institute of Peace and World Bank for the time period 2008-2014. Results showed that lesser number of attacks are associated with more volume of trade among nations and better relations with neighbouring countries are linked positively with trade performance of nations. Nations involved more into hostility acts like conflicts are unable to maximise the benefits from bilateral trade. JEL Classification: F10, D74, L33, C23. Keywords: Globalisation, Trade, Conflict, Terrorism, Panel Mode