Globalization and Foreign Trade of Pakistan with D-8 Group

Globalization has made the world smaller and flatter which is called “the death of distance”. This phenomenon has brought considerable increase in international trade in recent past. Many developing countries have been benefitted from the fruits of globalization and many other like Pakistan have lagged behind in the race. Pakistan is suffering persistently from trade deficit since 2003 and by the same point of time India, Sri Lanka and Bangladesh which share similar socio-economic conditions to Pakistan: are experiencing upward trend. This study investigates the popular theory “the gravity model of trade” in the context of Pakistan’s export flow to D-8 group. The gravity trade model has been innovated by introducing overall Globalization Index (GI) which led to improve explanatory power of gravity model. This research, in panel setting has used annual data ranging from 2003 to 2013, by employing advance estimation technique PPML, Estimator. The empirical results of the study infer that GDP, population and distance confirm the basic gravity model. While the globalization Index and contiguity variables are against the expected signs. Therfore, it is concluded that Pakistan need to explore new destinations specially should target the developing countries for its exports

Fertility Transition in Pakistan: Evidence from Census

In the absence of an accurate and complete registration system, efforts were made to estimate the levels of vital statistics through sample surveys. The first such effort was made through the Population Growth Estimation (PGE) project conducted from January, 1962 to December 1965. Later on, various demographic surveys were conducted almost at regular intervals and the last effort in the series was Pakistan Reproductive Health and Family Planning Survey (PRHFPS) in the year 2000-01. Although all these efforts were made to ascertain levels and trends of various demographic events, yet the estimates particularly the ones on fertility remained controversial. The first signal of fertility reduction was emanated from the 1975 Pakistan Fertility Survey (PFS) which estimated a Total Fertility Rate (TFR) of 6.3 children from over 7 children estimated earlier from PGE data. However, all hopes of the onset of fertility transition were shattered by the [Retherford’s, et al. (1987)] study entitled “Fertility Trend in Pakistan: The Decline that Wasn’t”. By using the Own Children Method, they confirmed that the decline in fertility was an artifact of the data. Another study by Shah, Pullum, and Irfan (1986) also termed the fertility decline shown by the PFS data as spurious. The Pakistan Labour Force and Migration Survey, conducted five years later, in 1979-80, estimated a TFR of 6.5 children, thus providing another proof supporting the fact that fertility had not declined to the extent believed.

Fertility Transition in Pakistan: Evidence from Census

In the absence of an accurate and complete registration system, efforts were made to estimate the levels of vital statistics through sample surveys. The first such effort was made through the Population Growth Estimation (PGE) project conducted from January, 1962 to December 1965. Later on, various demographic surveys were conducted almost at regular intervals and the last effort in the series was Pakistan Reproductive Health and Family Planning Survey (PRHFPS) in the year 2000-01. Although all these efforts were made to ascertain levels and trends of various demographic events, yet the estimates particularly the ones on fertility remained controversial. The first signal of fertility reduction was emanated from the 1975 Pakistan Fertility Survey (PFS) which estimated a Total Fertility Rate (TFR) of 6.3 children from over 7 children estimated earlier from PGE data. However, all hopes of the onset of fertility transition were shattered by the [Retherford’s, et al. (1987)] study entitled “Fertility Trend in Pakistan: The Decline that Wasn’t”. By using the Own Children Method, they confirmed that the decline in fertility was an artifact of the data. Another study by Shah, Pullum, and Irfan (1986) also termed the fertility decline shown by the PFS data as spurious. The Pakistan Labour Force and Migration Survey, conducted five years later, in 1979-80, estimated a TFR of 6.5 children, thus providing another proof supporting the fact that fertility had not declined to the extent believed

Comparative Phytochemical investigation and Antioxidant study of Narcicuss tazetta, Nymphaea mexicana zucc. And Indigofera heterantha.

The study was intended to investigate the presence of phytoconstituents in the bulbs of Narcicuss tazetta, flowers of the plant Nymphaea mexicana, and roots of Indigofera heterantha. The present study provides evidence that methanolic extracts of Narcicuss tazetta, Nymphaea mexicana and Indigofera heterantha contain important compounds with marked bioactivity. Maximum phenolic content was observed in Nymphaea mexicana and maximum flavonoid content was observed in extract of Indigofera heterantha. Keywords: Phytoconstituents, Antioxidant, Nymphaea mexicana, Narcicuss tazetta, Indigofera heteranth

How Similar are the Determinants of Mortality and Fertility?*

In a pre-transition situation both fertility and mortality are high. However, in the process of demographic transition, fertility decline follows mortality decline and when the demographic transition is complete both these variables vary closely at a low level. In other words, both these variables behave in a way which are oomplimentaJy to each other and hence it may be hypothesised that the factors which explain variation in fertility should explain variation in mortality or vice versa. Nevertheless, the strength and sometimes even direction of these determinants may vary from time to time and from place to place. Presently, Pakistan is in the process of demographic transition. By using the 1990-91 Pakistan Demographic and Health Survey data, here in this exercise, an attempt is made to identify and investigate' the similarities and the differences if any, in the determinants of both fertility and mortality

Macroeconomic Covariates of Default Risk: Case of Pakistani Non-Financial Firms

Empirical estimation of default probability through structural approach in the context of macroeconomic dynamics turn out be an emerging idea. However, various aspects of these studies are still needs to be explored to make these models more reliable. This study explored the structural model of default risk (Moody’s KMV) application with macroeconomic dynamics in Pakistani non-financial firm’s context and confirm whether Moody’s KMV model of default prediction could be applicable in Pakistan where the markets are highly speculative and stock markets are highly volatile. The study approximate about the expected default frequency (hereafter EDF) of 307 Pakistani non-financial firms, categorized in 12 industries for a span of 8 years from 2004 to 2011. It further check the macroeconomic variables effects on EDF with the use of generalized method of moments (hereafter GMM). Empirical results compared with the real life scenarios over the said years and on the basis of results we infer that Moody’s KMV model can predict default probability in a much better way than traditional ratio based approach

Women's Empowerment and Reproductive Choices

The 1994 Cairo International Conference on Population and Development (ICPD) in their Programme of Action calls for promoting gender equality and equity and the empowerment of women. Furthermore, the conference also recognises the basic rights of all couples and individuals to decide freely and responsibly the number, spacing, and timing of their children, as well as the right to the information and the means to do so [Sadik (1994)]. The need for such a programme of action arose in view of the fact that in many countries, including Pakistan, women are generally least empowered and hence they have negligible rights to decide about the number of their children. According to the 1990-91 Pakistan Demographic and Health Survey, over 54 percent women either wanted to stop having children or wanted to wait at least two years before having another child [Ali and Rukanuddin (1992)]. However, in practice, all of these women were not protected; instead, only 12 percent were practising contraception [Shah and Ali (1992)]. The low incidence of family planning practice on the part of the women is not so much due to the dearth of family planning services; rather it is due to resistance by husbands, in-laws, and other peer pressures. Demographers like Caldwell (1982) and Cain et al. (1979) also contend that in patriarchal societies it is the patriarchy which militates against the fertility decline.

Antecedents of Dividend Policy: Empirical Evidence from Banking Sector of Pakistan

This paper explores the determinants of dividend policy of commercial banks operating in Pakistan. Dividend decision of any bank primarily depends upon its profitability, retained earnings, cash flows, corporate taxes and leverage. This study is an attempt to find out key determinants and their impact on cash payout and total payout ratios. It also aims to test the implication of dividend theories on Pakistani banks using data for a period of 8 years ranging from 2006 to 2013. Balanced panel data regression with fixed effects model has been used in this study. All independent variables - PAT, SLACK, EPS, CTA and TD[1] reported significant results. We found significant role of profitability theory, packing order theory, free cash flow theory and agency cost theory in determining dividend policies whereas, tax effect and financial slack has no effect in banking sector of Pakistan. [1] Profitability, retained earnings, earnings per share, cash flows, and leverag

Effectiveness of a “Whole of Chain” Approach in Linking Farmers to Market: A Case of Pakistan Mango Market

AbstractMango is the second major fruit crop in Pakistan. The domestic retail market for mango in Pakistan is dominated by small retail shops, street hawkers, and road side stalls. The fruit sold in these retail outlets is prescribed by the traditional quality standards of size, appearance and price. However the growth of superior outlets/supermarkets chain especially in the major cities are setting additional quality standards such as blemish free, improved packaging, prestige, convenience to deliver premium quality mangoes. Similarly the export market is mainly targeted to the expatriate Pakistani consumers rather than quality conscious foreign consumers. This is because of inadequate market information and understanding all along the chain. A whole of chain approach is undertaken to improve the market understanding in an ACIAR project. Since the approach is new, a conceptual framework is developed in order to asses the effectiveness of the approach. The results indicate that the participants all along the chain would change their practices if they find the compelling reason to change in their existing businesses

MULTIPLE TREATMENT OF EREMURUS HIMALAICUS EXTRACTS AMELIORATES CARBON TETRACHLORIDE INDUCED LIVER INJURY IN RATS

Objective: Eremurus himalaicus Baker, an edible herb of North Western Himalayas, has not been scientifically assessed for hepatoprotective potential. The ethyl acetate extract (EHE), methanolic extract (EHM) and aqueous extract (EHA) of Eremurus himalaicus were therefore evaluated for potential hepatoprotective activity in Wistar strain albino rats.Methods: Carbon tetrachloride (1.5 ml/kg) was employed as hepatotoxin and was given on Day 1 of the experiment. The extracts at a dose of 300 mg/kg bw (EHE, EHM and EHA) and the standard at a dose of 10 mg/kg bw (Liv 52) were given for following 7 d and the biochemical parameters (SGOT, SGPT, ALP, TP, bilirubin and UA) were estimated in order to assess the liver function. Moreover, the liver tissue samples were examined for histopathological changes.Results: The results for serum biochemical analysis in rats showed a rise in SGOT, SGPT, ALP and bilirubin levels and a decrease in TP and UA levels upon giving hepatotoxin. The administration of the extracts and standard drug, for a period of 7 d, showed a significant decrease in SGOT, SGPT, ALP and bilirubin levels and an increase in TP and UA levels for EHM when compared to the toxic group. These results correlated well with the histopathological findings of liver for normal, toxic and extract treated groups. The EHM treatment decreased the extent of fat deposition and necrosis caused by CCl4. The results were almost similar to the standard drug Liv 52.Conclusion: Collectively; the results indicate that EHM exhibits significant hepatoprotective activity against CCl4 induced hepatotoxicity