ECONOMIC VALUE ADDITION IMPLICATIONS: A STUDY OF THE PAKISTANI BANKING INDUSTRY

Human beings are mostly concerned about value additionin almost every aspect of life. Does this reality prove accurate insecondary markets investment? This empirical study deals with theEconomic Value Addition of major seventeen banks of Pakistanincluding national and public limited banks. In this research, ROE,ROCE, and OCF are taken as parameters of profitability whilemarketability parameters are PE and MB ratio. Two sample t-testsshow that a new banks value creation is more in comparison withold banks in the context of EVA. Private and Government bank arenot significantly different in EVA. Fixed effect modeling and Clusterestimation infer that Profitability parameters positively impact EVA.Marketability parameter MB positively impacts EVA while PE ratiois statistically insignificant. Correlation analysis shows thatinvestors of the banking sector in Pakistan do not pay specialattention to EVA in their investment decisions

FINANCIAL DEVELOPMENT : A CONTRIBUTING AGENT OF ECONOMIC GROWTH - STUDY OF SELECTED ASIAN COUNTRIES

It has been a self-proclaimed fact that financial development boosts economic growth in the short as well as in the long run. This particular study has taken financial development indicators from banking and secondary market perspectives into consideration. We find the banking sector more prominent and more influential in contrast to secondary markets as by revealed their coefficients. The study adopts financial deepening, foreign direct investment, banking credit to private sector, stock market size, stock market efficiency and stock market liquidity as independent variables along with economic growth as dependent variables. All the variables except banking credit to private sector have a significant and positive relationship with economic growth. Results show that financial development affects economic growth positively. Financial deepening, stock market liquidity and foreign direct investment have only one way causality while stock market size has two-way causality

Empirical Evidence of Export-Led Growth Hypothesis for South Asia

Trade is considered an engine of economic growth (EG). Export-led growth (ELG) hypothesis narrates exports are a critical factor influencing EG. This study aims to test the relationship between exports and EG in South Asian countries using panel data from 1990 to 2020. Additionally, the study investigates whether the GDP growth of the countries acts as a proxy for the countries' development stage to see whether there is a causal relationship between these two macroeconomic variables. The present study has used EG as a dependent variable and exports of South Asian countries as an independent variable, along with fuel import, capital, labor force, and exchange rate. The study applied panel ARDL techniques to test the relationship between export and EG. According to empirical findings, for all South Asian countries, exports have a considerable positive impact on EG, whereas fuel imports have a significant and negative effect

Institutional Quality, Trade Openness and Economic Growth in South Asian Economies: Some New Insights from a Panel Data Analysis

The main aim of the present study is to empirically investigate into the question whether the Institutional Quality (IQ) and Trade Openness (TO) are competitors or complements in Economic Growth (EG) in case of sample South Asia Economies; “India, Bangladesh, Pakistan, and Sri Lanka”. The panel data for the period of 1984-2018 has been utilized. The Fixed Effects Model (FEM) estimation technique has been applied for empirical investigation. The empirical results of FEM confirm the positive and statically significant impact of IQ and Interaction Term on Economic Growth in sample countries. The positive significant results strongly supported the hypothesis of this study, the IQ and TO are complements in EG in the case of sample SAE. The IQ measure has also established positive and significant effects on EG while the TO has a negative impact. Based on empirical findings, this study recommends that the policymakers of sample countries should make policies that strengthen the IQ, in order to improve trade and, consequently, the EG.&nbsp

Modelagem de materiais e estudo de falha de diferentes compósitos reforçados com fibras para vasos de pressão

Pressure vessels are essential industrial tools regarding storage of high-pressure fluids. Utilization of pressure vessels in ordinary industrial environment impose serious dangers to human life in case of failure. Manufacturing material and working pressure as per material’s strength are necessary arguments for a pressure vessel designer. In this study, five composite materials are selected to investigate the behavior of pressure vessels under high pressure. FEA technique is used to check stresses and deformations in different composite layers. Pressure applied to all materials models in this study is around 20 MPa. Tsai Wu and Maximum stress theories are used to study failure in first two composite layers of different composite materials. Glass Epoxy composites perform well in terms of static loading failure. They demonstrate reasonable strength without experiencing failure in the second layer. T300/976 composites are also suitable for the intended loading conditions of the model because did not exhibit second layer failure, making them a viable option. Therefore, it is recommended to use Glass/Epoxy and T300/976 composites in extreme pressure conditions such as those found in CNG cylinders. Three of the composite materials tested did not satisfy the failure theories. Hence, it is not safe to use them in extreme loading conditions. Although these materials did not show any failure in the first layer, deformations in the second layer made them susceptible to failure.Los recipientes a presión son herramientas industriales esenciales para el almacenamiento de fluidos a alta presión. La utilización de recipientes a presión en el entorno industrial ordinario impone serios peligros para la vida humana en caso de falla. El material de fabricación y la presión de trabajo según la resistencia del material son argumentos necesarios para un diseñador de recipientes a presión. En este estudio, se seleccionan cinco materiales compuestos para investigar el comportamiento de los recipientes a presión bajo alta presión. La técnica FEA se utiliza para comprobar tensiones y deformaciones en diferentes capas compuestas. La presión aplicada a todos los modelos de materiales en este estudio es de alrededor de 20 MPa. Las teorías de Tsai Wu y la tensión máxima se utilizan para estudiar la falla en las dos primeras capas compuestas de diferentes materiales compuestos. Los compuestos de epoxi de vidrio funcionan bien en términos de falla de carga estática. Demuestran una fuerza razonable sin experimentar fallas en la segunda capa. Los compuestos T300/976 también son adecuados para las condiciones de carga previstas del modelo porque no presentaron fallas en la segunda capa, lo que los convierte en una opción viable. Por lo tanto, se recomienda utilizar compuestos de vidrio/epoxi y T300/976 en condiciones de presión extrema, como las que se encuentran en los cilindros de GNC. Tres de los materiales compuestos probados no cumplieron con las teorías de falla. Por lo tanto, no es seguro usarlos en condiciones de carga extremas. Si bien estos materiales no presentaron falla alguna en la primera capa, las deformaciones en la segunda capa los hicieron susceptibles a la falla.Vasos de pressão são ferramentas industriais essenciais para o armazenamento de fluidos sob alta pressão. A utilização de vasos de pressão em ambiente industrial comum impõe sérios perigos à vida humana em caso de falha. O material de fabricação e a pressão de trabalho de acordo com a resistência do material são argumentos necessários para um projetista de vasos de pressão. Neste estudo, cinco materiais compósitos são selecionados para investigar o comportamento de vasos de pressão sob alta pressão. A técnica FEA é usada para verificar tensões e deformações em diferentes camadas compostas. A pressão aplicada a todos os modelos de materiais neste estudo é de cerca de 20 MPa. As teorias de Tsai Wu e tensão máxima são usadas para estudar a falha nas duas primeiras camadas compostas de diferentes materiais compostos. Os compósitos de vidro epóxi têm bom desempenho em termos de falha de carga estática. Eles demonstram resistência razoável sem sofrer falha na segunda camada. Os compósitos T300/976 também são adequados para as condições de carregamento pretendidas do modelo, pois não apresentaram falha na segunda camada, tornando-os uma opção viável. Portanto, recomenda-se a utilização dos compósitos Vidro/Epóxi e T300/976 em condições extremas de pressão como as encontradas em cilindros de GNV. Três dos materiais compósitos testados não satisfizeram as teorias de falha. Portanto, não é seguro usá-los em condições extremas de carregamento. Embora esses materiais não apresentassem nenhuma falha na primeira camada, as deformações na segunda camada os tornavam suscetíveis à falha

Clinical profile and outcome of infective endocarditis at the Aga Khan University Hospital

Background: The spectrum of infective endocarditis (IE) is significantly different in developed and developing countries. The present study was conducted to study the clinical profile and outcome of infective endocarditis in Pakistan.Methods: A descriptive cross-sectional study with review of medical records for 188 patients admitted to our teaching hospital with a diagnosis of IE from January 1988 to December 2001. One hundred fifty-nine subjects fulfilled the modified Duke diagnostic criteria.Results: Definite IE was found in 59.7% (95/159) patients, while the rest had possible IE. One-third of subjects had acute IE 55/159 (34.5%). Subacute IE was found in 62% (99/159) and Nosocomial IE in 3% of the cases. Eighty six (54%) were classified as having culturenegative endocarditis and 73 (46%) as culture positive. Ninty four patients (59%) had an underlying predisposing factor including congenital heart disease (31%) and rheumatic heart disease (21%). The most frequently isolated organisms were streptococci (52%) and followed by staphylococci (29%). Fourteen (8.1%) patients had right-sided cardiac involvement. Using univariate analysis, patients with heart failure, neurologic or renal complications, septicemia, nosocomial endocarditis, and prosthetic valve endocarditis were at increased risk of death (p ≤ 0.05), however no individual microorganism, or specific site, size, or morphology of vegetation seen on echocardiogram were significantly associated with death. Thirty-seven (23%) patients died of endocarditis or its complications.Conclusion: Endocarditis continues to be an important contributor to morbidity and mortality in Pakistan, especially in young adults. Our patients differ from the west in terms of epidemiology, predisposing factors, microbiology, complications, and outcom

Is Trade Openness the Reason of High Energy Demand in China?

The present study aims to examine the short-run and long-run impact of China's trade liberalization policies on its energy demand over the period from 1980 to 2018. The results of Autoregressive Distributed Lag approach of co-integration show that energy consumption significantly increases as a result of trade openness and increase in real Gross Domestic Product (GDP). The results of the granger causality test also confirm the unidirectional causality running from trade openness and real GDP to energy demand. The results of the study have an important implication because if China wants to continue its trade liberalization policies then it must increase its energy production. Keywords: Energy Consumption, Gross Domestic Product, Trade Openness, China, Time Series JEL Classifications: C22, F15, L98, Q43 DOI: https://doi.org/10.32479/ijeep.1116

Infective endocarditis in patients with congenitally malformed hearts: characterization of the syndrome in a developing country

Cardiac surgery for correction or palliation of congenital cardiac disease in infancy and childhood remains a privilege that is rarely accessible to two-thirds of the world’s population. This imbalance has created a unique spectrum of illness in patients with underlying congenital cardiac disease and complicating infective endocarditis in developing countries, including Pakistan. In this study, we characterize endocarditis as seen in such patients presenting in Karachi. We reviewed retrospectively patients admitted to Aga Khan University with underlying congenitally malformed hearts and endocarditis between 1991 and 2004. We identified 48 patients with endocarditis according to the modified Duke Criterions, with just over half the cases (54%) classified as definite endocarditis. Of the patients, 23 (49%) patients were more than 16 years old. Uncorrected left-to-right-shunts, tetralogy of Fallot, and congenital mitral valvar disease were the most common underlying defects. Patients with cyanotic defects, particularly of the complex type, were underrepresented (4%). Only 11 (22.9%) of the patients had a previous palliative or corrective surgery. In one-third of the patients (16), streptococcal species were identified as the microbiologic cause of endocarditis, and 22 (45.8%) had culture-negative endocarditis. In contrast, Staphylococcus aureus and enterococci caused endocarditis in only one patient each. There were no differences in mortality or complications between cyanotic and acyanotic congenital defects. Surgery was performed in nine (18.7%) patients with endocarditis, and of these, 13 (27.1%) died. In contrast to the developed world, endocarditis in the developing countries, such as Pakistan, complicates uncorrected left-to-right shunts and tetralogy of Fallot, probably because patients with complex cyanotic defects fail to survive long after birth due to the lack of available surgery. Almost half of patients had culture-negative endocarditis, likely related to several factors

Exploring Dynamic Nexus between Economic Growth, Environmental Degradation, and Public Health in Pakistan: A Moderated Mediation Approach

Since the start of this century, much attention has been given to economic growth and environmental changes and their effects on human beings. The present study has developed a comprehensive model to discuss the nexus between economic growth, environmental degradation, and public health. Furthermore, renewable energy consumption and public health spending are used as moderators to make the model more inclusive. The time series data from 1972 to 2020 has been used, and a regression path modeling tool SPPS-PROCESS Model 29, has been applied to carry out the results. The results showed a positive and significant effect of economic growth on environmental degradation, while renewable energy consumption reduces environmental degradation. Furthermore, environmental degradation is negatively affecting the health status in Pakistan. The results of the total effects showed that economic growth positively contributes to public health with a low coefficient. The indirect conditional impact of economic growth on human health through the mediating role of environmental degradation becomes positive from negative in the long run due to renewable energy and public spending on health. Based on the result, some policies are suggested in the last section of this study

Exploring the Impact of Socio-economic Indicators on Economic Growth of Pakistan

Since independence, Pakistan has faced many economic problems. Social and administrative issues have been an obstacle to its economic growth. Economic, social, and administrative problems have amalgamated and engulfed the whole nation like an epidemic. Being the most critical issue, bad governance is destroying the economy in many ways. Poor governance negatively contributes to the empirics of economic growth through increased poverty directly and through increased social evils, such as crimes, indirectly. The present study has used the Three Stages Least Square (3SLS) estimation technique to examine the role of governance in stimulating economic growth by considering important socio-economic variables like poverty and crime. The study results suggest that poor governance is contributing to increasing poverty in Pakistan, which is, in turn, raising crime rates drastically. Since high crime rates slow down the economic pace of the economy, improved governance, increased employment opportunities, mobilization of private investment, and diversion of public investment to rural areas are essential for promoting economic growth