Evidence on Allocative Efficiency and Elasticities of Substitution in the Manufacturing Sector of Pakistan

This study investigates the nature of allocative inefficiencies in large scale manufacturing sector of Pakistan over the period of 1969-70 to 1990-91. The study employ translog cost function to examine allocative inefficiency with capital labor and raw material as inputs. We estimate translog cost function along with share equations for manufacturing sector as a whole. The analysis here after performed with and without distortion parameters. The relative price efficiency between each pair of inputs provide the evidence at aggregate level that raw material is over used as compared to labor, while other inputs are equally efficiently utilized. It turns out labor is most responsive factor to change in factor price. Study suggests that long run economic growth could be achieved through adjustment policies that correct input market distortions.

External scale economies in manufacturing sector of Pakistan: a comparison of large scale manufacturing sector of Sindh and Punjab

This study investigates the external economies of scale in the manufacturing sector of Pakistan. The Return to scale is a property of the production function that indicates the relationship between proportionate change, in all inputs and resulting change in output. Returns to scale are applicable only in the long run, since all inputs are being changed. The estimated value of the coefficient of returns to scale at aggregate level is 1.017. It means that one percentage point change in all input quantities results in 1.017 percent change in output. It turns out that manufacturing sector of Pakistan is characterized by almost constant returns to scale at aggregates and disaggregate level.Economies of Scale; Distortion; Efficiency; Pakistan;

Evidence on Allocative Efficiency and Elasticities of Substitution in the Manufacturing Sector of Pakistan

Lack of effective competition in factor markets often produces allocative or price inefficiencies in the manufacturing sector of developing countries like Pakistan. Such inefficiencies are common due to distortion in factor markets leading to the use of inappropriate factor proportions Lau and Yotopoulos (1971, 1972), Yotopoulos and Lau (1973), Burki, et al. (1997), Khan (1998), Ahmed (1999), Zafar (2000). Pakistan is also one of the country where labour is abundant but capital and raw material are scarce. Our finding undermine estimates of elasticities of demand and substitution based on classical assumption that factor markets are perfectly competitive i.e. Kazi, et al. (1976), Kemal (1981), Battese and Malik (1987, 1988, 1993), Malik, et al. (1989), Mahmood (1989, 1992), Zahid, et al. (1992) and Khan and Rafiq (1993). In order to discuss the cost structure of the manufacturing sector we will estimate well behaved translog cost function

Examining Factors of Entrepreneurial Success: Culture, Gender, Education, Family, Self-Perception

Objective: To examine the potential and contribution of culture, gender, education, family background and self-perception as factors of success in entrepreneurial ventures in Punjab the largest (64%) population province of Pakistan. In the context of developing countries economic growth is attributed to small enterprises as they generate employment.  Mortality rate of small enterprises is exceedingly high; and a study by Khawaja (2006) on Pakistan SME has reported that only 19% start-ups survived before they reach the 5th year. Prior Work: However in another study by Vesper (1990), in non-Pakistani environment found that only 10% of ventures survive after three years of existence. Therefore it is important to study success as perceived by entrepreneurs and various contributing influences. About the definition of entrepreneurial success there is no consensus among researchers. Stefanovic et al 2010 enumerated previous experience, hard work, access to capital, personal capabilities, and leadership skills as factors affecting success experience and knowledge. Focus on role of education is not meant to deny the importance of other factors that contribute to entrepreneurial success, such as, the nature of the entrepreneur; his/her character traits.    McClelland (1961) had attributed achievement motivation as an entrepreneurial success factor. Cox and Jennings (1995) had identified innovativeness in decision making.  Hodgets and Kuratko (1992) have identified opportunity recognition as an important characteristic of entrepreneurs; Dafna (2008) has focused on leadership qualities as factors affecting success. Approach: However this study is an attempt to understand the role of selected influences that have been mentioned as having some contribution toward success of entrepreneurs; and these were:  1) education, 2) gender, 3) culture, 4) family, and 5) subjectively self - perceived reason of success. Therefore this study is more exploratory than theoretical. Two research questions were explored in this study. Result: Male and female entrepreneurs differed significantly with respect to years of formal education completed as well as with respect to the medium of instructions during formal schooling.   Male and female entrepreneurs differed about their reasons for success, especially about God-gifted qualities and hard work being main reasons for success. Successful entrepreneurs were found more likely to have taken college level SME/ entrepreneurship courses.  Other successful entrepreneurs were found educated informally and gained knowledge through own reading as well.   Other successful entrepreneurs reported that their family background of being in business, their father being in business, and maternal uncle being in business were the likely influences of family and friends. Less successful entrepreneurs were found blaming government failure in providing support to entrepreneurial activity. The successful did not blame the government. Successful entrepreneurs were found likely to be college educated Punjabis. Implication: the Punjabi factor is crucial in this study as Pakistan has a population of 180 million and the Punjabi community comprises of nearly 64% of the population. A knowledge into entrepreneurial success and motivation would help in policymaking oriented toward entrepreneurial development leading to economic development. The other implication would be less reliance to prepare job seekers who are professionals – hence working towards a paradigm shift in education policy. Value: The paper is one of the first to focus on detailed research related activity on the subject of entrepreneurial success factors. Therefore adds to mote comprehensive understanding of creating an Enterprising Entrepreneurship Ecosystem. Keywords: Entrepreneurial Success factors; education, gender, family, self-perception, cultur

Diagnostic value of fine needle aspiration cytology in parotid tumors

Objective: To evaluate the usefulness and accuracy of fine needle aspiration cytology in the diagnosis of parotid gland tumors.Methods: We reviewed files of all patients who underwent parotidectomy for various parotid pathologies at Aga Khan University Hospital. Study design included a comparison between results of preoperative FNAC with final histopathological diagnosis. Galen & Ganbino method was used to calculate sensitivity and specificity of FNAC.Results: Among 50 patients reviewed, there was one false positive and 3 false negative results reported on FNAC. This gives a sensitivity of FNAC for reporting malignancy to be 74% and specificity to rule out malignancy 97%. No significant complications were reported while performing the procedure.CONCLUSION: FNAC is a safe and effective modality in diagnosis and treatment planning of patients with parotid tumors

Role of bone graft materials for cleft lip and palate patients: A systematic review

AbstractCleft lip and palate is a congenital anomaly. Its management requires a long term commitment, multidisciplinary and structured treatment. Treatment is initiated at infancy and continues till adolescence. Bone grafting is performed in order to provide bony stabilization for cleft maxillary alveolar arch and room for subsequent canine tooth eruption. The aim of this review was to discuss the success of various bone graft materials in managing unilateral and bilateral cleft lip and palate patients. For this purpose, a detailed literature search was performed using available electronic databases for peer reviewed papers published in English language. The review is based on published papers reporting the use of various bone graft materials for managing cleft lip and palate patients. The success of bone grafts was studied using the grading scales measuring the bone height at the grafted sites. Various types of bone graft materials including autogenous and allogenic were reviewed. Implant placement in cleft lip and palate patients required bone grafting after orthodontic expansion because of deficient bone in the anterior maxillary region. The grafted bone consequently provides stability and support to the maxillary alveolar arch. Success of bone graft as well as dental implants is multifactorial and therefore depends upon the type of bone graft, bone quality at cleft site and severity of cleft lip and palate