Economics Commons^™

Akhtar Hameed Khan Memorial Lecture, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Respected Sartaj Aziz sahib, Respected Shoaib Sultan sahib, Parvez Tahir sahib, Dr.Ayesha Khan, Distinguished Ladies and Gentlemen, I am extremely honored but also humbled to be asked to deliver Akhtar Hameed Khan Memorial lecture this evening. I am grateful to my mentor and lifelong teacher Shoaib Sultan sahib for his kind gesture in bestowing this honour. I would like to pay my personal tribute to Shoaib sahib for keeping the memory of Akhtar Hameed Khan sahib alive by organizing this lecture every year. Shoaib sahib’ single minded devotion to the cause espoused by AHK deserves our gratitude. He has faced …

Biography Of Dr Ishrat Husain: Iba Organises Book Launch Ceremony, Business Recorder

Faculty Research - Newspaper and Magazine Articles

KARACHI: The Institute of Business Administration (IBA) Karachi held a book launching ceremony for a biography on Dr Ishrat Husain, former advisor to the Prime Minister on Institutional Reforms and Austerity and former Dean and Director IBA, at the IBA City Campus. Attendees included the IBA faculty, students and alumni, media, members from the academia, corporate sector and diplomatic corps.

East Asia’S Inclusive Growth Model : Part – Iii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The fourth lesson is the reliance on the private sector. In these economies, the private sector was allowed a free hand in the production, distribution and trade of goods and services. Japan had shown the way through big industrial conglomerates Keiretsus/Zaibatsus as did Korea through Chaebols. Taiwan adopted a different strategy – to promote industrialisation through smalland-medium enterprises. China, Thailand, Indonesia, Philippines and Malaysia encouraged foreign direct investment and joint ventures. In China, the share of state owned enterprises in the economy has fallen to 30-40 percent from 100 percent. Most of the town and village enterprises owned by the …

East Asia’S Inclusive Growth Model : Part – Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

In 1980, China was among the world’s poorest countries with 80 percent of the population having incomes less than $1 per day and only a third of all adults able to read or write. Its per capita income was identical to that of India. By the year 2000, the proportion of the poor (income less than $1 per day) had declined to around 16 percent. Between 2008 and 2018, China ‘s GDP rose four-fold from $4.6 trillion to $18 trillion making it the second largest economy in the world (in nominal dollar terms) and today its per capita of 10,000 …

2nd Annual International Conference Proceedings - Development: Discourses And Critiques, Centre For Business And Economic Research (Cber), School Of Economics And Social Sciences (Sess)

Conference Proceedings

The Center for Business and Economic Research (CBER) at School of Economics and Social Sciences (SESS) IBA has organized the 2nd Annual conference on 25th-27th March 2022. The theme for this year invites works from a wide range of disciplines to critique, question and reconsider the experiences of transnational, national and sub-national actors with the development process. What does ‘development’ mean for different actors, and how has this narrative shifted over time? How does development define and redefine power relations and what implications does this have for different groups? How have colonial experiences shaped futures and how does one deconstruct …

East Asia’S Inclusive Growth Model : Part – I, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Almost thirty years ago the World Bank produced a seminal report, ‘The East Asia Miracle’, which captured the essence of the success stories of eight economies in East Asia (Japan; the four tigers – Hong Kong, Singapore, Korea, Taiwan; and three Asean countries – Indonesia, Malaysia and Thailand). These high-performing economies grew three times as fast as Latin America and South Asia and five times faster than Sub Saharan Africa between 1965 and 1990. During the 1990s, the high growth momentum was sustained, and these economies grew at average 8 percent per annum. Their share in world trade expanded at …

Reforms: Institutional Impediments : Part - Iii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The reason for the kind of political behaviour exhibited by elected representatives has to do with the incentive structure under the present voting system. MNAs and MPAs owe their election to constituency politics. They are obligated to take actions which keep their constituents pleased and their opponents subdued. That means that prices of essential commodities, tariffs charged for electricity, gas, water, railways are frozen and controlled through administrative means (whatever the government has to cough up to bear the subsidies involved) so that people don’t complain about rising prices. They would like the government to create new jobs to take …

Reforms: Institutional Impediments : Part - Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

An attempt was made by the National Commission for Government Reforms (NCGR) to present a comprehensive package that proposed a strong district government system with specific focus on education, health and police. But the report could not be implemented due to the change in government. Subsequent governments did realise the need but remained preoccupied with other pressing matters. This time (2018-21), the focus was only on the federal government as the provincial governments plainly told us that after the 18th Amendment the federal government (although all the four provincial chief secretaries were members of the task forces that formulated the …

Dissecting Public Expenditure : Part – Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Debt dynamics requires continued primary budget surpluses to be generated for gradually lowering the burden of interest payments and reducing public debt-GDP ratio. Revenue mobilisation of an additional 1.5 percent of GDP annually from those outside the tax net (divided evenly between the provinces and the federal government) insulating the lower-middle and poor classes appears a plausible means to achieve these surpluses. The pension bill is growing much faster than any other expenditure head and a switch has to be made from the present defined benefits to the defined contribution system. The results from tax and pension reform would appear …

Annual Report 2021 – 22: China Study Centre Iba Karachi, China Study Centre, Institute Of Business Administration

China Study Centre - Research and Reports

Pakistan has a longstanding relationship with the People’s Republic of China, as Pakistan was the first country to recognize it. Over time, the strategic and economic relationship between both the countries have been strengthening through various joint projects, with China-Pakistan Economic Corridor (CPEC) being an exemplary project. CPEC is China’s 15-years old, $62 billion investment in Pakistan. Moreover, the flagship project of its Belt and Road Initiative (BRI) took a five-decade-long strategic alliance between the two countries to the economic sphere in 2015. CPEC is best seen as an economic peg in terms of broader strategic relationships between both countries. …

The Impact Of Covid-19 On Stock Market And Exchange Rate Uncertainty In Pakistan, Ateeb Akhter Shah Syed, Kaneez Fatima, Mannan Zaheer

Business Review

This paper examines the impact of coronavirus (COVID-19) on exchange rate (EXU) and stock market uncertainty (SMU) in Pakistan while controlling for the effects of interest rate and policy interventions by the Government and the Central bank to combat the pandemic. We employ the vector autoregressive (VAR) model over a sample period ranging from February 25, 2020 to May 6, 2021. We find that a shock to total daily coronavirus cases in Pakistan has a positive and significant impact on both the EXU and SMU. However, this impact is short-lived which may be attributed to a timely policy response and …

The Macroeconomic Impacts Of Government Debt In Pakistan, Ateeb Akhter Shah Syed, Kaneez Fatima, Junaid Kamal

Business Review

This paper examines the Ricardian equivalence hypothesis for Pakistan using a vector error-correction model. The sample period extends from June 2002 to January 2020. The results are reported using variance decompositions and impulse response functions. The base model contains six variables and is estimated with 4 lags. We find support for the idea that wealth does not increase as government debt increases; Hence, it proves the fact that economic agents are rational actors and foresee current expansionary actions of the government that result in accumulation of debt as the present value of future taxation that they have to pay and …

Taxation Of Agricultural Incomes In Pakistan: Conceptual Issues, Data Challenges And Empirical Estimates, Abdul Salam

Business Review

There is considerable diversity and variation in the land-based and agricultural income tax rates across the provinces in Pakistan. The annual land-based tax revenues from the cultivated land, including orchards, are estimated at Rs. 5 billion in Punjab, 2.5 billion in Sindh, one billion in KP, and less than half a billion in Baluchistan. Based on the 2017-18 GDP estimates from crops, two sets of income tax revenues were estimated: one at the provincial rates and the other at the FBR tax rates for non-salaried persons. Tax revenues from crop income, at the current provincial rates, work out to Rs. …

The Socio-Economic Factors Of Poverty: Empirical Evidence From District Lasbela, Balochistan, Fida Muhammad, Parvez Ahmed Shaikh, Hazrat Yousaf

Business Review

Poverty is defined as a lack of basic necessities for survival. The current study examines the socio-economic factors that contribute to poverty in five of the district of Lasbela's nine tehsils, namely (Bela, Dureji, Hub, Sonmiani, and Uthal. Lasbela is Balochistan's tenth most deprived district, located near Karachi. The data for this study is cross-sectional and contributed from the project's 2014 Base Line Survey (BLS, 2014). The Logit model was used to evaluate the variables under study in order to achieve the study goal. According to our empirical findings, the average daily income in this district was less than $1.50. …

Empirical Evidences On Pricing Mechanism In Pakistan: A Duration Analysis, Fauzia Sohail, Ambreen Fatima

Business Review

This study evaluates the price setting behavior across main cities of Pakistan by employing the micro data from retail price survey. The most contemporary research technique of Duration Analysis is employed where survivor functions are estimated by most illustrious nonparametric Kaplan-Meier and Nelson-Aalen Estimators. Hazard Functions for various product groups are also estimated by employing parametric Weibull Hazard Model. Results confirm that perishable food items have shortest duration of one week for most of the spells, where government regulation caused prices to change more frequently. It is found that on average small cities faced lower hazard and thus comparably lesser …

Deficient Data, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

In this world of Big Data, satellite imaging, data analytics and predictive analysis, it is a pity that policymakers have to make decisions based on guesstimates or incomplete information as timely, reliable, and updated data on key economic variables is not readily available. The exceptions are the Population Census of the Pakistan Bureau of Statistics (although held after 18 years, there was some controversy about Sindh data), the National Socioeconomic Registry of Ehsaas, the identity data of NADRA, the price data of the PBS, balance of payments and monetary aggregates of the SBP, public debt of the EAD and MOF, …

Proceedings - Climate Change: Threats, Risks And Vulnerabilities, Centre For Business And Economic Research (Cber), Hanns Seidel Foundation, Pakistan

Conference Proceedings

Pakistan is one of the world’s most climate vulnerable countries ranking fifth in the list. It has experienced various disasters in recent decades, including floods, droughts and intense heat waves causing thousands of fatalities. Moreover, due to the deterioration of the Indus Delta approximately 1.2 million people dispersed and shifted to urban hubs like Karachi. Researchers have projected an increase in frequency and severity of these catastrophic environmental events, causing food and water scarcity, health and socio-economic issues in coming decades.

Climate change is no longer a threat but has become an existential crisis. There is a need for immediate …

The Mighty Challenge, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Several questions are frequently raised about governance reform in Pakistan: Why are institutional reforms needed? What good can they bring to the country? Why is it so difficult to get them implemented? This article addresses these questions, explaining that governance reforms are structurally complex, long-term in nature, and must be politically driven, as they entail difficult choices requiring electoral accountability. The author examines the fundamental tension between the short-term imperatives of electoral politics and the compulsions of good governance and prudent economic management, arguing that democratic governance can improve only if institutions dealing with security, basic public services, and justice …

Speech By Dr. Ishrat Hussain On Infosec Conference, Ishrat Hussain Dr.

Faculty Research - Talks, Speeches, & Discourse

Ladies and gentlemen, I feel so happy to be part of 13th annual InfoSec conference. Thank you, TOTAL Communications, and IoBM and HBL for giving me this opportunity to speak on such a critically important subject and I am glad to see such a variety of very learned experts present on this floor today. So proud to see Pakistani talent like Kaleed rising and contributing immensely in other parts of the world. Also nice to see HBL co hosting today's event and I am told that HBL has been leading this premier annual conference for the last four years.

Failure To Implement Approved Reforms Frustrated Ishrat Hussain, Ansar Abbasi

Faculty Research - Newspaper and Magazine Articles

ISLAMABAD: A frustrated Dr Ishrat Hussain is parting ways with the government because his significant work on reforms, despite having been approved by the cabinet, faces implementation challenges because of a lack of political will among those enjoying executive authority. Although, he did not cite any such reason for his departure in what was shared with the media, informed sources say that the government’s chief reformer was upset that although he had produced a comprehensive set of reforms after a detailed consultative process and got it approved from the cabinet, the implementation of the reforms remained elusive. Sources say that …

Energy Mix And Climate Change In Pakistan, Syed Murtaza Nadeem

CBER Conference

No abstract provided.

Stock Market, Covid-19 And Oil Price Crash: Evidence From Selected Opec Countries, Shomaila Habib

CBER Conference

No abstract provided.

Measuring The Trend Of Consumption Expenditure Inequality In Pakistan, Asad Kakar

CBER Conference

No abstract provided.

Trade Creation And Trade Diversion For Pakistan China Free Trade Agreement (Fta), Aysha Khatoon

CBER Conference

No abstract provided.

The Impact Of Remittances On Total Factor Productivity In Pakistan, Muhammad Shafiq Ur Rehman, Dr. Muhammad Nishat

CBER Conference

No abstract provided.

On The Wrong Side Of The Track: The Role Of Karachi Circular Railway In Determining Intra-City Boundaries, Aneela Kiran, Dr. Faisal S. Qadri

CBER Conference

No abstract provided.

Sustainability Of Genetically Modified (Gm) Crops, Abdul Hakeem, Wajid Ali Shah

CBER Conference

This proposal identifies the methods used in the modification of crops, their production, modification, expansion, benefits, and carbon emission. Moreover, the special focus of this proposal is to explain the need for GM crops for developing nations which are witnessing exponential growth of their populations. Additionally, it pursues to determine how in the environmental and economic context, the significance of GM crops is overwhelming and cannot be overlooked. The greenhouse ePect reduction is the other essential output of the GM crops as shown through the illustrations.

The Economics Of Crime, Syed M. Hasnain Saeed

CBER Conference

Denomination of major crimes in Pakistan-KPK & Balochistan has the highest murder or attempt to murder rates. Sindh has the highest rate of Kidnappings and Punjab has the highest rate of theft. According to our research findings, 1 % point increase in unemployment increases country’s rankings in Crime Index by 0.455 Points.

Conference Program Schedule, Institute Of Business Administration

CBER Conference

No abstract provided.

Wage Gap Among Urban Natives And Rural-Urban Migrants In Pakistan, Muhammad Umair, Lubna Naz

CBER Conference

Pakistan has a total labor force of 65.5 million in 2019. According to the Labour Force Survey 2017-18, more than one-third of the labor force is working in urban areas, and one-tenth comprises rural-urban migrants. It is evident that rural-urban migration increases labor supply in the urban labor market and consequently causes a reduction in wages, particularly for unskilled and semi-skilled workers. This study makes the first attempt to evaluate the wage gap among urban native and rural-urban migrant workers using a sample of 12,302 workers, comprising 10,793 urban natives and 1,509 rural-urban migrants, extracted from the latest Labour Force …