Effects of MHD on Modified Nanofluid Model with Variable Viscosity in a Porous Medium

A computational simulation for two-dimensional steady flow of modified nanofluid over an exponential stretching surface in a porous medium with magnet hydrodynamics and variable viscosity is presented in this study. Modified nanofluids are generalization of both hybrid nanofluids and simple nanofluids. Here, we consider three nanoparticles which drastically enhance the thermal conductivity of nanofluid. The viscous model associated with variable viscosity and MHD flow is employed. Well-known similarity transformations are utilized to convert the partial differential equations to system of ordinary differential equations. These converted equations are solved by utilizing the numerical technique Runge–Kutta-Fehlberg method. The impacts of variable viscosity, porosity parameter, Nusselt number, thermal and velocity slip, skin friction coefficient, solid nanoparticle, and magnetic field are observed. The computational results accomplished in the present investigation are validated and felt to be a good agreement with decayed results. It is highlighted that modified nanofluid model enhances the heat transfer rate much higher than the case of hybrid nanofluid and simple nanofluid model

Determinants of the efficiency of Microfinance Borrowers and non-borrowers: Evidence from Pakistan

This study explores, whether micro finance is being efficiently used or not. As it has been observed that most of the micro finance is used for the non productive purpose. Where as the purpose of lending this credit is to finance the borrowers so that they could enhance their output and inputs. Data Envelopment Analysis was used in this study to find the efficiency scores of the borrowers. There after, Tobit regression was used in the second stage to explore the determinants of the efficiency. A total of 122 traders of micro level including 43 borrowers and 79 non-borrowers were interviewed to fill the questionnaires. While comparing microfinance borrowers with non-borrowers, it was found that microfinance borrowers were significantly more efficient than the small scale borrowers. Average Propensity to Consume (APC) is one of the major factors that has a negative impact on the efficiency. Education was found to have a positive impact on the technical efficiency of the traders. People are generally quite reluctant to take the loan from microfinance institutions due to insufficient amount offered, high interest rate and return of loan in monthly installments. That make the loan less efficient. Therefore it has been recommended the microfinance institutions to overcome these problems. Key Words: Efficiency, Microfinance, Data Envelopment Analysis, Tobit Model.

Institutional Credit and the Profit Efficiency of Micro and Small Scale Traders: Evidence from Faisalabad

In a country like Pakistan, where the people generally have shortage of capital due to low savings as a consequence of low income, financial institutions play an important part to finance the working capital requirements of the business. Data Envelopment Analysis was used in this study to find the efficiency scores of the borrowers. There after, Tobit regression was used in the second stage to explore the determinants of the efficiency. A total of 85 traders of micro and small scale were interviewed to fill the questionnaires. Mean Technical Efficiency was recorded at 0.78. Average Propensity to Consume (APC), Interest Rate (IR) and Number of times credit was taken (NTC) were found to have a negative impact on the Variable Returns to Scale Technical Efficiency (VRSTE). Micro level traders were more efficient than Small scale traders. Traders working in a rented shop were significantly more efficient than those who were running their business in an owned shop. Traders who utilized the loan for actual purpose were more efficient than those who partially or bulk amount of loan utilized for non productive purpose. Therefore it is recommended the financial institutions to work on screening policy and training workshops. Key Words: Efficiency, Institutional Credit, Data Envelopment Analysis, Tobit Mode

Uncovering the Link between Micro Credit and Socio-Economic Empowerment of Women: A Case Study of Pakistan

It was a cross-sectional study to measure the impact of micro credit on women's empowerment and was conducted in district Sargodha, Pakistan and a comprehensive questionnaire was used for the purpose of interview. Total sample size comprised of 250 observations, 125 observations were those women who were registered with kashf and had completed at least three loan cycles. And the remaining observations comprised of prospective clients of kashf i.e. those who had just applied for loan and their applications were yet under process. Binary logistic and ordered logistic regressions were used for the purpose of this analysis. This empirical study found a significant difference between the control and treatment groups. The results suggest that women have gained more say in decision making process due to participation in micro credit program, thus leading to higher levels of empowerment than before. Overall, the present study found a strong and significant impact of participation in micro credit program on women's empowerment level. Keywords: Micro Credit, Socio Economic Growth

Effects of Heat Transfer on the Stagnation Flow of a Third-Order Fluid over a Shrinking Sheet

This paper is devoted to the study of a stagnation point flow of an incompressible third-order fluid towards a shrinking sheet (with heat transfer). The governing nonlinear partial differential equations are reduced into nonlinear ordinary differential equations by means of a similarity transformation and then solved by the homotopy analysis method. Two types of flow problems, namely, (i) two dimensional stagnation flow toward a shrinking sheet and (ii) axisymmetric stagnation flow towards an axisymmetric shrinking surface have been discussed. Also, two types of boundary conditions are taken into account: (i) prescribed surface temperature (PST) and (ii) prescribed heat flux (PHF) case. The effects of various emerging parameters of non-Newtonian fluid have been investigated in detail and shown pictorically. The convergence of the solutions have been discussed through h-curves and residual error. For further validity, the homotopy Pade approximation is also applied

Shifters of Participation in Micro Credit and Credit in General in Pakistan

This study explores the determinants of participation in the credit market using Binary Logit Model on a total sample of 185 small scale traders including 85 borrowers and 100  non-borrowers in the third largest city of Pakistan “Faisalabad”. Two different models were estimated including one for the micro entrepreneurs and the other for both micro and small scale traders. Results indicate that higher Average Propensity to Consume is a major factor of entrance in the credit market. Family size and the level of education were also positively related with participation in credit market. However number of earners is negatively related with the probability of entrance in the credit market. H-L Statistics shows that model is good fit. Key Words: Credit Participation, Micro Credit, Logit Model

Impact of Terrorism on Forex Market and Karachi Stock Exchange: Evidence from Pakistan

The present study is an effort for estimation of impact of terrorism on financial markets of Pakistan over the period from 2007 to 2010. The most terrorism affected era of Pakistan history. It finds the relationship between the terrorist activities and the two kinds of financial markets which are the capital market including the variable KSE stock prices, FOREX market which includes Exchange rate variable. A result show that terrorism has an adverse effect on the Karachi stock prices (capital market) Currency has also depreciated significantly due to the increase in the terrorism during this period. Time series data on daily basis has been used in this study. Key Words: Terrorist Incidents, Forex Market, Stock Marke