Economics Commons^™

The 2025 Pakistan Floods: Investigating The Human, Agricultural, And Economic Collapse, Abdullah Khan

MSJ Capstone Projects

This project examines the 2025 Pakistan floods as a multidimensional climate disaster that triggered severe human, agricultural, and economic consequences. Moving beyond event-based reporting, the study examines how climate change, weak governance, poor infrastructure planning, and delayed institutional responses intensified the scale of destruction. Using investigative journalism methods, the project combines field reporting from flood-affected areas, in-depth interviews with displaced communities, local activists, and experts, and analysis of official data and policy documents. The findings reveal widespread displacement, loss of livelihoods, food insecurity, and long-term social vulnerability, particularly among marginalized rural populations. Agricultural collapse emerged as a central concern, threatening …

The Future Of Kashf, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Let me begin by congratulating KASHF for completing a landmark in its history i.e ten years of impressive performance. The vision, energetic leadership and dedication of the founder of KASHF – Roshaneh Zafar have turned an idea into a living and thriving entity. More than anybody else she deserves our gratitude and appreciation for an excellent job done. I also would like to commend the Board, the staff and the clients of KASHF on this occasion. I am also delighted that Prof. Yunus, the founder and visionary of microcredit has joined us today for this celebration. I consider him as …

An Analysis Of The Banks’ Write-Offs 1999–2003, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to thank the Institute of Bankers, Pakistan for inviting me to this auspicious occasion of the Annual Prize Award Ceremony. Let me offer my sincere felicitations to those of you who have won distinctions, awards and prizes. I would hasten to add that you should consider this as a beginning of a long journey towards professional growth and accomplishments. Those who will make a commitment to acquiring skills and knowledge throughout their careers will have nothing to fear about – but those who become complacent or rest on the laurels they have achieved by obtaining degrees and …

Marketing Pakistan’S Image, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

People buy brands, not products. That is the age-old, established fact supported by extensive research that every marketer worth his or her salt would always stand by. The interesting thing is that these days, development and pursuance of a successful brand strategy is no longer the sole domain of corporate entities alone, but has seen a cross-over to politics and Governments also. Indeed, many Government now endeavor to transform themselves and operate as corporate entities. Malaysia Inc. is one example. So branding is the key to success. Having said that, the marketers in this audience will vouch that branding is …

Seminar/Exhibition On Technological Innovation In The Financial Sector, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to thank the Sindh Government, CSP and PASHA for inviting me to this Seminar/Exhibition on Technological Innovation in the Financial Sector. I commend all the Organizers of this event for taking this initiative and exposing the public at large to the progress we have made so far in this field. I am glad that the CSP is working on Certification and Accreditation of IT Professionals because this will sift the real professionals from the crowd. This morning, I will walk you through the considerable headway the Financial Services Industry has made during the last three years.

5th International Annual Conference Proceedings: A New Global Order, Yet Again, Centre For Business And Economic Research (Cber), School Of Economics And Social Sciences (Sess)

Conference Proceedings

The School of Economics and Social Sciences (SESS) and the Center for Business and Economics Research (CBER) at the Institute of Business Administration (IBA), Karachi, are pleased to announce the 5th International Annual Conference on "A New Global Order, Yet Again" In an era marked by geopolitical realignments, technological innovations, green transitions, climate change, and evolving trade dynamics, the global economic landscape is undergoing an unprecedented transformation. Developing economies today face multifaceted challenges: leveraging new opportunities in a decentralized global system while managing debt insolvency risk, uncertainties in international trade, climate change vulnerabilities, and rising socioeconomic inequality.

This conference seeks …

Convocation Address At Indus Valley School (Ivs), Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Dr. Ishrat Husain delivered the convocation address at the Indus Valley School of Art and Architecture (IVS) for the graduating class of 2018. He congratulated the graduates on their achievements and reflected on the importance of self-awareness, social responsibility, and the pursuit of a meaningful life. The address emphasized IVS’s enduring vision of nurturing good human beings and creative leaders dedicated to positive social change.

Pakistan’S Growth Experience, 1947–2007, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Pakistan’s growth experience over the past sixty years is both impressive and disappointing. It is impressive because rapid growth rate has resulted in a quadrupling of per capita incomes and reduction in poverty levels by one half despite fairly high population growth. Structural changes have transformed a predominantly agrarian economy to a more diversified production structure. Manufactures account for 80 percent of the country’s exports. But there is a sense of disappointment too. Social indicators are among the worst in developing countries. Pakistan ranks 134th among 177 countries in Human Development Index. Income Inequalities, Rural Urban disparities and Gender differentials …

China-Pakistan Economic Corridor, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

China has emerged as an economic power house of the 21st Century and is the largest exporting nation of the World and the second biggest economy. The remarkable achievement of GDP per head growing 17 times between 1980-2014 and lifting more than 800 million out of poverty is a feat unprecedented in human history. It would be pertinent to recall that not very far in time i.e. 1980, per capita income of China was lower than that of both India and Pakistan and since then now it has become an economic powerhouse. Realizing its importance as a leading economic power, …

Pakistan’S Experience With The Imf, 2000–2004, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Pakistan’s relationship with the IMF during the 2000 – 2004 period was quite unique and distinctive. Unlike the earlier eight agreements that were concluded with the IMF during 1988-99 and were never implemented beyond the first tranche release it was only in this period that two successive agreements – a nine month Stand-by Arrangement (SBA) in the year 2000 followed by a three year Poverty Reduction and Growth Facility (PRGF) were successfully completed. All the sixteen reviews by IMF staff were completed and eleven successive tranches were drawn on time without any extension or interruption. The last two tranches were …

Positioning Domestic Capital Markets For Emerging Companies, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The current macroeconomic context is not very conducive to the growth of capital markets. Stagnant per capita incomes, high inflation, declining investment, large fiscal deficit, severe energy shortages, current account imbalances and drying up of foreign investment do not provide an appetizing menu of options for the savers, investors and issuers. Strong borrowing needs of the government have increased banks’ exposure to government paper. As banks account for 95 percent of the total financial assets private sector credit has there shrunk. The share of net advances has dropped from 57 percent to 44 percent between Dec 2008 and June 2011. …

4th Sbs International Conference 2025: Transforming Business For People And Planet, School Of Business Studies (Sbs)

Conference Proceedings

The IBA-SBS International Conference (IBA-SBSIC) brings together scholars, professionals, and policymakers from around the world, providing a platform for learning, collaboration, and cutting-edge research. As we enter the 4th edition in 2025, the conference embraces the theme "Transforming Business for People and Planet."

The business landscape is evolving rapidly, with companies increasingly held accountable for their environmental footprint, ethical responsibilities, and social impact. Governments, regulators, and consumers now demand responsible business practices that align with sustainability and long-term financial resilience. Sustainability is no longer a choice—it is a necessity. Global movements toward climate action, social equity, and responsible governance are …

Is Aid Good For The Poor In Sub-Saharan Africa?, Elisha Mavodyo

Business Review

We contribute to the aid-poverty literature in Sub-Saharan Africa in two fundamental respects. First, we sidestep the controversial aid-growth-poverty relationship by analysing the direct impacts of aid on poverty in Sub-Saharan Africa. Second, in line with previous studies, we first analysed the impact of aid on poverty headcount, poverty gap, and poverty gap squared. We complemented this analysis with an analysis of the direct impact of aid on the incomes of the poor, followed by an analysis of aid on inequality. Such an approach allowed us to draw nuanced conclusions about how effective foreign aid is in alleviating not just …

Shaping Pakistan's Future, Sdsb 360 Magazine

Faculty Research - Newspaper and Magazine Articles

SDSB 360 is in conversation with Dr. Ishrat Husain, an influential Pakistani banker, economist, and reformer whose leadership has shaped Pakistan’s financial landscape. From steering the State Bank of Pakistan (1999–2006) to driving educational excellence as Dean of IBA Karachi (2008–2016) and championing institutional reforms as Advisor to the Prime Minister (2018–2022), Dr. Husain’s career is a testament to visionary leadership and a relentless pursuit of progress.

Does Central Bank Transparency Curb Foreign Exchange Vulnerability?, Muhammad Aftab, Kate Phylaktis

CBER Conference

This study examines the relationship between central bank transparency (CBT) and foreign exchange market vulnerability, focusing on exchange market pressure (EMP) to provide a comprehensive understanding. Using panel bounds testing approach to cointegration based analysis, the study covers both developed and emerging markets, incorporating the global financial crisis (GFC) and various control variables. External policy uncertainty and FX regimes are also considered to elucidate the nuanced relationship between CBT and EMP. Findings reveal that improved CBT reduces EMP, with financial development moderating this effect, suggesting well-developed financial systems lead to more stable exchange markets. CBT consistently relieves EMP during both …

Bayesian Estimation Of A Pragmatic Model For Monetary Policy Analysis: The Case Of Pakistan, Shahzad Ahmad, Waliullah .

CBER Conference

In this study, Bayesian maximum likelihood estimation of quarterly projections model for Pakistan as presented, as documented in Ahmad & Pasha (2015). Estimation results based on quarterly data from 2001 to 2023 show substantial differences in values of estimated versus calibrated parameters related to aggregate demand, aggregate supply, monetary policy rule and exogenous shock processes. The aim of this study is to compare forecasting performance for key macro variables. It shows that the estimated model provides more precise forecasts in case of headline inflation, real GDP growth, interest rate and exchange rate over 8-quarters forecast horizon. An estimated model for …

Monetary Policy In Good Times And In Bad: Empirical Evidence From Pakistan, Haider Ali

CBER Conference

A significant body of literature explores and establishes the impact of monetary policy on output and prices, at least in the short run. However, the subsequent question is whether this effect is symmetric concerning the various states of the economy (see, Tenreyro and Thwaites, 2016; Bernstein, 2021; Eichenbaum et al., 2022; among others). This study contributes to the literature on state-dependent (non-linear) effects of unanticipated monetary policy shocks according to two important features of the economy. The amount of slack in the economy and the amount of the public-sector footprint in the market. Evaluating state-dependent effects is crucial because assuming …

A Review On Fiscal And Debt Policies In Pakistan, Karim Khan

CBER Conference

Pakistan has been pursuing an active albeit expansionary fiscal policy since 1970s. In the mid1970s to early-1980s, such policy choice was manifested in externally financed development spending, primarily in the form of investment in public enterprises. Despite excessive deficit financing, Pakistan’s economic performance never took off; rather, it remained on a path of truncated growth which, in turn, created structural hurdles like low productivity, poor investment climate, and higher unemployment. Likewise, deficit financing has been threatening the sustainability of fiscal framework as excessive public spending is not accompanied by corresponding enhances in domestic revenues. Consequently, these policies have caused persistence …

Authoritarian Legality Of Sifc: An Inquiry Into The Dual State And Economic Decision Making In Pakistan, Hassan Zaheer

CBER Conference

Pakistan is no stranger to the union of authoritarianism with its economic decision-making. From the grand designs of Ayub Khan’s industrialization to Bhutto’s nationalization to Zia’s privatization, the country has been practically a laboratory of authoritarian experimentation over nature and the processes of the national economy. However, certain ideas have been coherent throughout time and space when it comes to the fusion of authoritarian law, arbitrary power, and economic decisions. These ideas have historically shaped the fusion of authoritarian power with economic decisions in the country. Resultantly, the authoritarian legality approach establishes a Dual-State in Pakistan by undermining normative processes …

Pros And Cons Of Debt Financing: An Objective Analysis, Anwar Shah

CBER Conference

Debt financing plays an important role in the modern financial system. It is claimed that the interest rate equilibrates demand and supply in the loanable funds markets and helps in the efficient allocation of financial capital. It is also claimed that interest rates simply break up investment risk to suit the requirements of lenders and users of funds. However, the occurrence of the Global Recession in 2008 due to excessive debt financing in real estate (mortgage loans) and the resemblance of interest rate with usury requires investigation of the other side of debt financing. This paper aims to fill this …

The Economic Contribution Of Cherry To The Household Economy In Pakistan. A Case Study From Lower-Hunza, Gilgit Baltistan, Pakistan, Rizwan Akhtar

CBER Conference

The cherry, one of the most recognized fruit crops, has become a significant source of income for rural farmers in Pakistan. However, limited research has been conducted on the economic impact of cherry farming. Consequently, there is a growing demand for a deeper understanding of cherries' economic contribution to the domestic economy. This study used socio-economic data from 315 cherry-producing households in Lower Hunza, GilgitBaltistan, to examine the role of cherries in community income. Data was collected through direct face-to-face interviews and semi-structured questionnaires with cherry producers, emphasizing group family discussions and interactions with local cherry traders. The findings indicate …

Fiscal Decentralization And Education Index; Evidence From Punjab Pakistan, Noor Ahmed

CBER Conference

Disparities in the distribution of public services have persisted throughout Pakistan's history. Current research on regional development has stressed the need of evaluating human development phenomena using spatial models such as density, locality, and distance. The study investigates how fiscal decentralization influences the education index at the district level in Pakistan's Punjab province. The research is based on the education index, which has five components. The Principal Component Analysis (PCA) integrates these variables to provide a final education index. The study's findings revealed that the significant positive effects of fiscal decentralization on the education index at the district level depend …

Teaching Of Economics, Quratulain Shafique

CBER Conference

The research paper aims to analyze the trends in economics education, and its importance in developing knowledgeable citizens, good policymakers, and proficient professionals to meet the challenges of the contemporary economy. The introduction highlights the significance of economics education within society as it is aimed at preparing people for the conditions of globalization, modern technologies, and the transition to knowledge-based economies. It also meets the problem of educators implementing the transition from theoretical to applied economics and in considering differentiated learning needs. This entails assessing certain teaching delivery approaches applied in higher learning institutions and deciding the level of student …

Effect Of Violent Conflict On Female Decisionmaking Power Within The Household, Shagufta Sultana

CBER Conference

Women decision-making power within the household is an important component of women empowerment. In recent studies, the effect of violent conflict on women’s decision-making power has become an evolving topic in literature. The current study is an attempt to unleash the effect of terrorist attacks on women’s decision-making within the household in the case of Pakistan. The study examined the impact of terrorist attacks on women’s decision making power during the surge and after the surge in the violent conflict. The study selected the three rounds of data from the Household Integrated Economic Survey (HIES) 2005-06, 2013- 14 and 2018-19. …

Impact Of Multilateral Aid On Female Access To Education And Employment: A Spatiotemporal Analysis Of World Bank (Wb) Aid Projects In Pakistan, Muhammad Ashar Khan, Zashir Naqvi, Saba Nisar Soomro

CBER Conference

Since becoming a member in 1950, Pakistan has received around $40 Billion in development assistance from the World Bank (World Bank, 2023). The current portfolio under the ongoing assistance program includes 58 projects, amounting to about $15 Billion across different provinces and districts (World Bank, 2023). A number of these projects, especially pertaining to economic inclusion, are centered around fostering women's empowerment for sustainable and inclusive economic growth and ending extreme poverty in developing countries. According to WB’s “Gender Strategy 2030”, in line with Sustainable Development Goal 5, one key feature of its assistance is to help overcome “resource” and …

Role Of Greenfield Investment, Institutional Quality, And Economic Activities On Environmental Performance In Belt & Road Initiative Countries, Jamal Hussain, Sajid Hassan

CBER Conference

Researchers have produced varying conclusions on the matter of coexistence of economic activities with the protection or improvement of environmental performance. This study investigates the association between greenfield investments, economic activity, institutional quality, and environmental performance in Belt & Road Initiative (BRI) countries from 2003 to 2022. Yale University's Environmental Performance Index (EPI) assesses environmental performance. Advanced second-generation econometrics estimation approaches address concerns like cross-sectional dependence, potential endogeneity, and heterogeneity. Further analysis is employed across four income-level sub-panels: lowincome (LI), lower-middle-income (LMI), upper-middle-income (UMI), and high-income (HI) countries, covering the years 2003 to 2021 to validate reliability and consistency. This …

Digital Bodyguards: Experimental Evidence On The Role Of Personal Safety On Mobility And Empowerment, Fareena Noor Malhi, Sheheryar Banuri, Zehra Aftab

CBER Conference

This research paper examines the impact of the Women Safety App (WSA) on female mobility in urban Lahore, Pakistan. Through a randomized field experiment targeting lower middle-income households, we evaluate the effectiveness of the WSA in reshaping gender safety perceptions and increasing female presence in public spaces. The intervention includes comprehensive training and awareness sessions, followed by the download and registration of the app on participants' smartphones. Data collected from 319 working-age women reveal significant improvements in mobility patterns and safety perceptions postintervention. Our preliminary findings indicate the intervention significantly impacts extensive margin, increasing the time spent travelling. Further it …

The Power Of Assets: A Catalyst For Multidimensional Well-Being, Nasir Iqbal, Saima Nawaz

CBER Conference

Asset transfer program, known as the "Big Push" intervention, emerges as a powerful tool to promote multidimensional well-being among the poor. However, its effectiveness in settings with decade-long state-provided consumption support remains unclear. This study investigates the impact of asset transfers under the National Poverty Graduation Program (NPGP) in Pakistan, amid an established framework of unconditional cash transfers. Using a quasi-experimental approach, we observe significant enhancements in overall well-being, food consumption, ownership of assets, and social integration among beneficiaries. Furthermore, the NPGP encourages savings behavior among beneficiaries, contributing to their long-term financial resilience. Our findings exhibit substantial differences in the …

4th Annual International Conference Proceedings: Rethinking Economics In The Contemporary World, Centre For Business And Economic Research (Cber), School Of Economics And Social Sciences (Sess)

Conference Proceedings

The School of Economics and Social Sciences (SESS), through the Department of Economics and the Center for Business and Economics Research (CBER), opens the call for papers for its fourth international conference: Rethinking Economics in the Contemporary World.

The development of technology, the immediate effects of climate change, complex geopolitical situations, substantial migration, rapid urbanization, increasing income inequality, the emergence of digital economies, and global health crises have all amplified uncertainties and accelerated changes in the economic landscape, underscoring the imperative for better insights and new perspectives in economics profession. This year's conference recognizes the new paradigms and shifts in …

Conference Proceedings: Fourth Annual International Conference: Rethinking Economics In The Contemporary World, Shumaila Omar [Editor], Uzair Arif [Ed.], Tabeer E Zehra [Ed.], Sania Zehra [Ed.], Tooba Zaheer [Ed.]

IBA Press

The 4th Annual International Conference on Rethinking Economics, organized by the Institute of Business Administration (IBA) Karachi, provided a dynamic platform for academics, practitioners, and policymakers to explore diverse themes shaping the global economic landscape. The conference highlighted critical issues such as digital transformation, urban infrastructure, environmental challenges, monetary and fiscal policy, and human development. This collection is an amalgamation of abstracts from the papers presented at the conference.