Does financial instability weaken the finance-growth nexus? A case for Pakistan

The paper investigates whether financial instability weakens finance-growth nexus in case of Pakistan. In doing so ARDL bounds testing approach is used for cointegration among variables over the period of 1971-2005. The results show that financial instability does weaken finance-growth nexus. Trade openness increases economic growth through spillover effects. Increasing inflation retards economic growth i.e., lower inflation rates are necessary for sustained economic growth. Political instability impedes economic growth. The present study indicates new direction for policy makers to sustain the pace of economic growth and avoid financial crisis.Financial Crisis, Financial Development, Economic Growth

Does economic growth cause terrorism in Pakistan?

This paper analyzes the relationship between terrorism and economic growth for Pakistan by incorporating capital and trade openness. We used the data from 1971-2010 and have applied ARDL bounds testing approach to cointegration to examine the long run relationship between the variables. The VECM Granger causality approach is used to detect the direction of causality between terrorism and economic growth. Our empirical results confirm the existence of long run relationship between economic growth and terrorism. The Granger causality analysis indicates bidirectional causality between terrorism and capital, trade openness and capital, and terrorism and trade openness. However, unidirectional causality is found running from economic growth to terrorism.Terrorism, Economic Growth, Cointegration and Causality

Risk factors for stroke and TIA\u27s in Pakistan: a community-based study

OBJECTIVES: To estimate the frequency of risk factors for stroke and transient ischemic attacks in Pakistan; a multi-city community-based study. METHOD: This cross-sectional community-based study was conducted in various health care facilities including government funded District Head Quarters hospitals, private hospitals and medical centers, and community-based clinics across 27 cities all over Pakistan over a period of three years between 2013 and 2015. Nearly 900 patients were screened during stroke (Falij) screening camps at these facilities and the data regarding past stroke and transient ischemic attack (TIA) symptoms were recorded along with relevant neurological examinations. A 25 item self-administered questionnaire was used to get relevant information. RESULTS: A total of 651 (72.33%) responded to questionnaire from the 900 screened patients. Among the responders, 403 (61.90%) were males and 248 (38.10%) were females with an average age of 50 ± 15 years. Respondents belonged to six different ethnicities, the largest group were of Punjabi origin (49.90%) followed by Urdu speaking (25.10%) belonged to different professions. Paralysis of a complete body side or an arm or a leg was experienced by 155 (23.81%) patients at least once in the life time knowing stroke as the underlying cause, of which 122 (19.0%) patients reported an event of sudden paralysis experienced during the last year. A total of 179 (27.50%) had felt numbness/tingling in limbs or face while they knew those as symptoms of stroke or TIA and 134 (20.58.3%) patients reported a cardiac arrhythmia at least once in a life time. Common risk factors assessment showed that 217 (33.33%) were diagnosed with diabetes, while 315 (48.38%) were hypertensive. Among the respondents, 88 (13.51%) reported in affirmative to smoking status while 60 (9.21%) reported using smokeless tobacco in the form of Pan/Gutka. More than 180 (27.64%) had raised cholesterol, while seizures, chest pain, heart attack, coronary bypass surgery, pain in legs during walking, snoring was reported by 23 (3.53%), 109 (16.74%), 42 (6.45%), 24 (3.68%), 237 (36.40%) and 150 (23.04%) patients respectively

The Cost of Unserved Energy: Evidence from Selected Industrial Cities of Pakistan

This study is an attempt to explore the cost of unserved energy due to power outages in Pakistan that started in 2007. The study is based on a survey conducted for four major industrial cities of Punjab—Gujrat, Faisalabad, Gujranwala, and Sialkot. In addition to quantification of output losses, the effect on employment, cost of production, and delay in supply orders are also examined. The output loss is quantified using two-dimensional analyses, controlling for variations in the duration of outages and in the shift hours. The survey data reveal that employment has not suffered any significant drop due to alternative energy arrangements. These arrangements, nevertheless, have increased the production cost of the firms. Delays in the delivery of supply orders are also due to energy shortage. The study reports that the total industrial output loss varies between 12 percent and 37 percent, with Punjab as the major affected province.Energy Crises, Output Loss, Pakistan

EFFECTIVENESSTHE USE OF ENTREPRENEURSHIP LEARNING MODULE BASED TUTORIAL MULTIMEDIA IN VOCATIONAL HIGH SCHOOL

Abstract: The purpose of this research was to examine the effectiveness of the use of Entrepreneurship learning modules based tutorial multimediaconsists of two indicators, namely:(1) effectively enhance students’ creativity, and (2) effectively enhance the learning outcomes of students. The entrepreneurship Module-based multimedia, equipped with CD tutorials that can provide motivation and inspiration for students to assess the material well and put it into practice through tasks, to produce graduates students who are qualified, productive and able to compete in the era of the Asean Economic Community (AEC). The method used to test the effectiveness of the use of Entrepreneurship module based multimedia tutorial is a Quasi experimental with the shape of Time Series Design, using one group was given treatment. Before the treated group were given a pretest to four times, with a view to determine the stability and clarity of the circumstances of the group before being treated.Samples were taken proportionatelyof students in class XI numbered 30 people. The research located in SMKN 5 Makassar, South Sulawesi, on even semester 2015/ 2016. Based on observations and analysis of data on the use of Entrepreneurship module based tutorial multimedia, the results of this research are: (1) The use of Entrepreneurship learning modules based tutorial multimedia effectively improve the creativity of learners, (2) The use of Entrepreneurship learning modules based tutorial multimedia can enhance the learning outcomes of students. Thus, it was concluded that the entrepreneurial learning modules based on effective use of multimedia in vocational high schools, because it can raise achievement motivation of learners, so that creativity and achievement of learners can be increased

Factors Affecting the Demand Side of Exports: Pakistan Evidence

The aim of this article is to investigate different factors affecting the demand of Pakistani exports. Factors affecting the demand of exports include real effective exchange rate, nominal exchange rate, world production capability and world export price variable. The period of the study is from 1990 to 2010. Data is gathered from various sources including State Bank of Pakistan, Karachi Stock Exchange, Handbook of statistics on Pakistan Economy, Economic Survey of Pakistan and International Financial Statistics (IFS). Two Stage Least Square (2-SLS) Method was applied in the study.  Results show that, export demand decreases with increase in Real Effective Exchange Rate. Insignificant relationship was found between the demand of Pakistani exports and export price variable and nominal exchange rate. The study also found positive and significant association between the demand of Pakistani export and World Income. Keywords: Export Growth, Foreign Direct Investment, Two Stage Least Square JEL Classifications: F13, F14, O1

Corporate Governance and Financing Dicisions of Listed Firms in Pakistan

The purpose of the study is to explore the link between corporate governance mechanisms and firms financing decisions. We have selected 24 banks which were listed on the “Karachi Stock Exchange”, during the period of 2008-2012. The Ownership Concentration, composition and size of the board, and role duality were considered as independent corporate governance variables while firm specific control variables were size, liquidity, profitability and tangibility of assets. Debt ratio is taken as a dependent variable representing firm’s financing decision (capital structure). The results indicate that Ownership Concentration, Size of the board, and leverage are positively correlated. However no significant relationship was found between Board composition, CEO duality and capital structure. We use panal least square regression to determine the affect of corporate governance and firm level characteristics on capital structure. Keywords: Banking Sector, Capital Structure, Corporate Governanc