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Articles 211 - 240 of 532
Full-Text Articles in Economics
Tariffs, Trade And Taxation, Ishrat Husain Dr.
Tariffs, Trade And Taxation, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
According to official sources, the recent decline of Pakistani exports is due to adverse global economic conditions. Others attribute this, inter alia, to the appreciation of the Pakistani rupee. Both these factors may be partially true but defy empirical evidence as single-factor explanations. Indian exports have expanded by 62 per cent, Bangladeshi by 69pc and Sri Lankan by 21pc from 2010 to 2015. In clothing exports, Vietnam, Bangladesh and Cambodia recorded growth rates of 10pc, 6pc and 8pc respectively. Bangladesh’s nominal exchange rate has remained unchanged and the real effective exchange rate shows 54pc appreciation since FY2010-11. The rupee appreciation …
Policy Imperatives For Cpec, Ishrat Husain Dr.
Policy Imperatives For Cpec, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Most of the discussion about CPEC has so far focused on the financing and indebtedness in the future but the success of this initiative lies in the successful interaction between investment , institutions and policy . What kind of policies are needed to maximize benefits and minimize costs to the country. There are several but at least six areas need careful design and execution.
Financing Burden Of Cpec, Ishrat Husain Dr.
Financing Burden Of Cpec, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
The ongoing debate on the impact of CPEC projects on future external payments’ obligations is welcome, but should be informed by analysis based on facts rather than opinion. The total committed amount under CPEC of $50 billion is divided into two broad categories: $35bn is allocated for energy projects while $15bn is for infrastructure, Gwadar development, industrial zones and mass transit schemes. The entire portfolio is to be completed by 2030. Therefore, the implementation schedule would determine the payments stream. Energy projects are planned for completion by 2020, but given the usual bureaucratic delays, it won’t be before 2023 that …
The Economics Of Cpec, Ishrat Husain Dr.
The Economics Of Cpec, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
The writer is a public policy fellow at the Woodrow Wilson Centre, Washington, D.C. In a country where negativity and cynicism reign supreme, critics and detractors of all kinds are revered, and emotional outbursts and fabricated stories dominate the air waves and social media, it is difficult to present a dispassionate analysis of national issues. Since China announced the China Pakistan Economic Corridor (CPEC), more time and energy has been spent in finding faults, poking holes and raising doubts based on speculation and conjecture. Had this investment been announced in another developing country, the national reaction would be: how do …
A Retrospective Insight Into Pakistan's Exchange Rate Regimes And Their Impact On The Economy, Lalarukh Ejaz, Madeeha Akhtar
A Retrospective Insight Into Pakistan's Exchange Rate Regimes And Their Impact On The Economy, Lalarukh Ejaz, Madeeha Akhtar
Business Review
Nuclear tests carried out by Pakistan in May 1998 had a distinctive impact on the evolution of the exchange rate. This case describes what happened to the exchange rate before and after the nuclear tests and focuses on the overall impact of Pakistan’s transition from a hostile relationship with the US in the post-Cold War era to becoming an ally of the US in the war on terror. This case can be used to study the concepts of real and nominal exchange rates, the linkage between exchange rate policy and external balance, how exchange rate can be used as a …
Parallel Session: Translating Practice Theory Into Consumer Research With Coherent Research Strategies, Yoon Lee, Amrul Asraf Mohd- Any, Norbani Che-Ha
Parallel Session: Translating Practice Theory Into Consumer Research With Coherent Research Strategies, Yoon Lee, Amrul Asraf Mohd- Any, Norbani Che-Ha
International Conference on Marketing
This article contributes to the underexplored methodological issues of translating practice theory into empirical consumer research. Practice theory conceptualises consumption as meaningful outcomes of social accomplishments which decentres the traditional influential roles of consumer emphasizes the performative dimension of the doings, saying, and material objects. Because consumers involved with practices are treated merely as „carriers‟, the analysis focus is shifted from consumer to consumption practice. However, practices are difficult to access, observe, measure or represent because practices are hidden, tacit, and often difficult to articulate. These challenges and specifically methodological issues of social practice theory are seldom acknowledged and addressed. …
Action At Full Speed, Ishrat Husain Dr.
Action At Full Speed, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Pakistan has successfully completed the Extended Fund Facility arrangement with the IMF. The economy has stabilised; inflation has been subdued and initial investment under CPEC has begun. We now stand at a crossroads. One road leads to sustained growth and prosperity, the other to a place where our preoccupation with election-year politics can push us back into the IMF’s arms. The first road requires acting on policy at full throttle so that there are perceptible economic dividends by 2018. What is required to tread this road? There are many stumbling blocks but actions to remove five of these deserve priority.
A Skeptic’S View Of International Development, Ishrat Husain Dr.
A Skeptic’S View Of International Development, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
The UN agencies and the development community have rejoiced at the successful completion of the 2015 summit that launched the 17 Sustainable Development Goals (SDGs), with 36 topics and 169 targets to be achieved by 2030. No doubt, the SDGs put a spotlight on some of the world’s biggest issues such as globalisation, rising urbanisation, new demographic patterns, technological revolution and climate change, which are likely to disrupt our lives in the next 20‐30 years. It is but natural that global leaders should have put their heads together and come up with plans and actions to mitigate the adverse impact …
Personality And Transformational Leadership: A Review, Saima Ghazal, Arooj Arshad, Fatima Kamran University Of The Punjab, Lahore, Pakistan
Personality And Transformational Leadership: A Review, Saima Ghazal, Arooj Arshad, Fatima Kamran University Of The Punjab, Lahore, Pakistan
Business Review
A review of the literature shows that extroversion is the strongest and most consistent positive predictor of transformational leadership. Furthermore, such leadership is shown to predict team performance, subordinate's individual performance, job satisfaction and organizational commitment.
Lead Lag Relationship And Directional Asymmetry In Stock Returns Of Small And Large Portfolios: Evidence From The Karachi Stock Exchange, Ajid Ur Rehman, Ataullah Shah
Lead Lag Relationship And Directional Asymmetry In Stock Returns Of Small And Large Portfolios: Evidence From The Karachi Stock Exchange, Ajid Ur Rehman, Ataullah Shah
Business Review
We explore whether systematic lead-lag relationships exist among the returns of small and large portfolios and whether such portfolios show symmetrical responses to good and bad news. Regression analysis conducted on sample small and large portfolios selected from listings at the Karachi Stock Exchange shows that small stocks follow large stocks quickly in bear-market conditions but slowly in bull-market conditions. This implies that positive information is absorbed more slowly in the prices of smaller stocks than in that of larger stocks.
Reformer-In-Chief, Fahad Ali
Reformer-In-Chief, Fahad Ali
Faculty Research - Newspaper and Magazine Articles
When IBA was set up in 1955, it was the first business school outside North America. Why the heck is it still so unknown outside Pakistan? To me, the challenge was that this institution should be one of the top institutions like the Indian Institutes of Management, which are household names abroad. Why isn't IBA in the same league?
The Pakistani Diaspora: Strengthening Linkages Between Host And Home, Ishrat Husain Dr.
The Pakistani Diaspora: Strengthening Linkages Between Host And Home, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
The most recent estimates made by the World Bank show that the number of international migrants would surpass 250 million. These migrants send $600 billion to their families in their home countries with developing countries receiving $440 billion—almost four times the amount sent in 2001. These remittances are three times the size of official development assistance. Migrants hold more than $500 billion in annual savings. The remittances and savings have become a major source of financing for development. U.S. ($56 billion), Saudi Arabia ($37 billion) and Russia ($33 billion) were the top three source countries. India ($72 billion), China ($64 …
Governance Reforms In Government, Public Sector, And Regulatory Bodies, Ishrat Husain Dr.
Governance Reforms In Government, Public Sector, And Regulatory Bodies, Ishrat Husain Dr.
Faculty Research - Talks, Speeches, & Discourse
Let me begin by setting the context in which the discussion of this topic should be focused. Eighty percent of national economic output is generated by the private sector. Government however plays a critical role in the generation of this output through its overwhelming role in the polity, economy and international relations. So a prior question that needs to be addressed before delving in the topic: What should be the appropriate relationship between government and private business in Pakistan? In my view, the government has at least five functions to perform – an Enabler and Regulator, Protector of Life and …
Pakistan’S Daunting Deficits, Ishrat Husain Dr.
Pakistan’S Daunting Deficits, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Problems in the short term that affect day-to-day life are quite naturally given centre stage by both policymakers and the government’s critics. How much fiscal deficit is real, how much contrived? What has gone into computing the rate of inflation? What is the composition of foreign exchange reserves in terms of borrowed money and own money? These are pertinent questions that need to be raised. The government of the day has to answer these questions and satisfy its critics. But this excessive preoccupation with short-term issues leads to the neglect of long-term issues that responsible governments must address. It is …
Exploring The Factors Influencing Faculty Motivation And Satisfaction In Tertiary Education, Zaki Rashidi, Sajida Zaki, Amanat Ali Jalbani
Exploring The Factors Influencing Faculty Motivation And Satisfaction In Tertiary Education, Zaki Rashidi, Sajida Zaki, Amanat Ali Jalbani
Business Review
This study examines the importance of the following five factors in determining motivation and satisfaction levels among faculty involved in higher education: compensation, job role and responsibilities, organizational environment, career growth and recognition. Relevant data were collected from a survey of faculty based at professional universities in Pakistan. Results show that while all five chosen factors are significantly correlated with faculty motivation and satisfaction levels, compensation and recognition are the two most important determinants.
Beta Stationarity And Estimation Period: Evidence From Pakistan's Equity Market, Sana Tauseef
Beta Stationarity And Estimation Period: Evidence From Pakistan's Equity Market, Sana Tauseef
Business Review
This study examines the stability of individual stock beta coefficients over time and its link with the length of estimation periods. Using data for 325 stocks from Pakistan for the period 1999 to 2012, I show that beta coefficients are not stable on average but become more stable as the estimation period increases. This suggests that longer estimation periods should be used for predicting future beta coefficients. JEL Classification: G12, G23
Coordination Failure, Ishrat Husain Dr.
Coordination Failure, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Pakistan would be an excellent case study for anyone studying topics such as ‘perpetual confrontation and polarisation of all kinds’, ‘blame game’, ‘passing the buck’ and ‘don’t accept responsibility’. Recent examples of public squabbling include those of: electric power regulator Nepra and the water and power ministry; the Planning Commission and the two energy ministries; the Privatisation Commission and the Sindh government on the steel mills; the interior ministry and Sindh on the Rangers; and the tussle over CPEC routes as well as that related to the Nandipur project and LNG procurement.
Social And Economic Consequences Of Climate Change In Pakistan, Ishrat Husain Dr.
Social And Economic Consequences Of Climate Change In Pakistan, Ishrat Husain Dr.
Faculty Research - Talks, Speeches, & Discourse
The recently concluded review of the Millennium Development Goals (MGDs) shows that if the international community and its various stakeholders put their minds, resources and energy together for common shared cause, success is possible. Enormous progress has been made by mankind by reducing poverty from 47 percent to 15 percent within a span of 25 years. This example provides an auspicious setting for the possibilities at the Paris Climate Change Conference to be held in November 2015. The journey from COP in Berlin to COP21 in Paris has not been a smooth ride. The period was dominated by debate between …
The Post-Imf Agenda, Ishrat Husain Dr.
The Post-Imf Agenda, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
In August 2016, Pakistan will complete the final review of its extended arrangements with the IMF. In the absence of major hiccups, the country would be able to heave a sigh of relief. The crisis risks that loomed large in 2013 would have eased and stabilisation reduced macroeconomic imbalances. Fiscal deficit would be down to 3.5pc to 4pc. Inflation would be around 5pc to 6pc. The current account deficit would be contained to less than 1pc. Forex reserves would cover three months imports. The power to issue SROs has been transferred from the Federal Board of Revenue to parliament. These …
Democratic Governance, Ishrat Husain Dr.
Democratic Governance, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Governance under a democratic dispensation has been under attack in Pakistan. The yearning for a messiah or strong authoritarian leader who can fix the ‘mess’ created by the democratically elected leaders remains quite strong. The frequent transitions from the elected governments to the military government and vice-versa have created political instability and uncertainty and we have not learnt the lessons. Political uncertainty leads to a wait-and-see attitude on the part of investors. Lack of investment – both domestic and foreign – retards the pace of economic growth. Low growth rates result in high open unemployment and rise in poverty. Furthermore, …
The Nexus Of Financial Deepening, Economic Growth, And Poverty: The Case Of Pakistan, Abdur Rehman Aleemi, Muhammad Azam
The Nexus Of Financial Deepening, Economic Growth, And Poverty: The Case Of Pakistan, Abdur Rehman Aleemi, Muhammad Azam
Business Review
This study investigates the nexus of financial development, economic growth, and poverty for Pakistan over a prolonged period of time, 1960- 2012. Autoregressive Distributed Lag (ARDL)-Bounds testing approach to co integration and Unrestricted Error Correction Model (UECM)along with VECM Granger causality have been applied to examine the long-run dynamic relationship among financial development, economic development and poverty. For that purpose, we have developed two models and adopted a new and relatively strong proxy for financial development. The results suggest that financial development negatively affects both long-run and short-run economic growth. However, financial development is found to be positively affecting per …
Global Dominance Potential Of Chinese Corporations, Javed A. Ansari
Global Dominance Potential Of Chinese Corporations, Javed A. Ansari
Business Review
Thispaper assesses the corporate strength of Chinese firms in the global market and addresses the question: does China's growing corporate strength indicate a rise in its global influence, or, in other words, what are the prospects for the emergence of capitalism with Chinese characteristics as the new dominant paradigm. It finds that Chinese corporations have significantly improved their global profit share in several sectors during 2007-2013. Many of these corporations are Chinese state-owned enterprises (SOEs) that play a dominant role. Summarizing a recent case study of Chinese SOE strategy in the Zambian copper belt it provides evidence for close interaction …
Does Esg Investment Enhance Investment Returns, Ca. Hemlata Chelawat, I.V. Trivedi
Does Esg Investment Enhance Investment Returns, Ca. Hemlata Chelawat, I.V. Trivedi
Business Review
Over the past decade, Environmental, Social and Governance Investment or ESG Investment has become a mainstream investment approach in the investment community around the world, especially in the US and Europe. There is increasing evidence from academic and practitioner research around the world that better ESG performance by companies leads to reduction in risks, improvement in financial performance, higher stock market valuations and hence, enhanced returns for investors investing in stocks of such companies. Hence, incorporating ESG factors can lead to better informed and improved investment decisions. This has led to development of ESG indices and fonds, to enable investors …
Us Policy Of Technology Transfer To China, Amna Mehmood, Sadaf Farooq
Us Policy Of Technology Transfer To China, Amna Mehmood, Sadaf Farooq
Business Review
Hans Morgenthau defined international politics as the struggle for power among nations. Initially power was understood in terms of security and military supremacy only. But time has proved that military power is only effective when it is supported by a strong economy. Especially in post-Cold War era when the world is transforming from uni-polar to multi-polar world on the basis of competing economic centres, political economy has attained equal importance at par with the international security studies, if not more. One of the most important and sensitive area of international political economy is technology transfer, a life bloodfor modernization of …
A Curious Study Of China, Sana Khalil
A Curious Study Of China, Sana Khalil
Business Review
China seems well-positioned in terms of innovation output; nonetheless, have underperformed with regards to innovation input which presents a very curious case for study. I investigate the determinants of China's cross-regional innovation output and link the variations in innovation output with the level of economic development. Using panel dataset from 31 regions of China, I show that the differences in China's regional innovation output can significantly be explained by variations in R&D manpower and expenditure, share of highly educated students, and public education spending. Additionally, domestic patent stock, high-tech export share and output value of new products are positively and …
Budgets And The Real Economy, Ishrat Husain Dr.
Budgets And The Real Economy, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
The annual budgets of the federal and provincial governments should make a significant impact on the real economy, financial variables, social sectors, poverty and income distribution and finally make up the infrastructure deficit. The real economy is affected in terms of output level, employment, growth rate, investment and savings. The financial variables affected are fiscal balances, current account, debt-to-GDP ratio and taxto-GDP ratios, etc. Social sectors such as education, health, water supply, social safety nets are directly impacted while poverty and income distribution are indirectly impacted. Infrastructure deficit can be made up by complementary private investment.
Public-Private Partnerships, Ishrat Husain Dr.
Public-Private Partnerships, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
There is unanimity of view that Pakistan faces enormous deficiencies in its infrastructure, particularly the energy sector, that is slowing down the rate of growth and creating stress and disenchantment among business and society. It is also true that the federal Public Sector Development Programme does not have enough fiscal space to accommodate all priority projects. At the same time, there is a buoyant private sector that is sitting on ample cash surpluses and looking for profitable opportunities. So there is a demand for infrastructure projects and there is supply of resources available from investors willing and able to finance …
Dr. Ishrat Hussain - Ceo Summit Speech, Ishrat Husain Dr.
Dr. Ishrat Hussain - Ceo Summit Speech, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Extracted from a speech delivered at CEO Summit Asia 2014, the piece discusses thought leadership in the knowledge economy, urging Pakistan to celebrate successes rather than dwell on negativity. The speaker highlights the value of investment in skills, science and technology, citing South Korea's transformation through such investment. He also stresses the need for stronger governance structures and greater collaboration among Pakistani professionals and institutions.
Health Of The Economy, Ishrat Husain Dr.
Health Of The Economy, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
A large number of professionals, academics and businessmen repeatedly ask a simple question: what is the real state of health of the Pakistani economy? Who is telling the truth? The finance ministry or ‘independent’ economists writing in newspapers and appearing on television? Should we believe reports from the IMF, World Bank and The Economist who give a relatively more optimistic picture of the economy? Or should we trust former governors, advisors and journalists telling us how weak and fragile the economy is? Is the government fudging data to make things look good? These are all legitimate questions as we are …
A Roadmap For Governance Reforms, Ishrat Husain Dr.
A Roadmap For Governance Reforms, Ishrat Husain Dr.
Faculty Research - Newspaper and Magazine Articles
Pakistan has been facing a unique and difficult dilemma for quite some time. Government leaders of the day are unhappy that they are unable to deliver upon the commitments they had made to the electorate at the time of the elections. Policy-Performance Gap is widening every day, Decision making is slow and implementation of decisions almost non-existent. Credibility of each successive government is eroding rapidly among the public at large creating trust deficit in the political leadership. The citizens and society are highly disenchanted and dissatisfied as they are unable to access basic services the state has to provide to …