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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 …

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.

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 …

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 …

Challenges And Prospects Of Islamic Financial Services Industry (Ifsi), Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Dr. Ishrat Husain addresses a distinguished gathering of Shariah scholars from across the globe on the transition from conventional to Islamic finance. He raises ten critical questions that explore the challenges and prospects of the Islamic Financial Services Industry.

Measuring Consumption Inequality At Household Level In Pakistan 2005-2019, Sahibzada Asadullah, Asfandyar Khan

Business Review

Reducing inequality has been the main focus of every country. This study is an attempt to measure consumption expenditure inequality in Pakistan by focusing on food and non-food components. The study uses secondary data to cover surveys from 2005-06 till 2018-19 using decomposed data taken from Household integrated expenditure survey of Pakistan. Gini coefficient has been used to measure inequality. The study finds fluctuating trends in inequality. Overall both food and non-food consumption inequality has slightly decreased but overall food consumption expenditure inequality increased in 2018-19 when we compared the results with year 2015-16. Food consumption inequality remain higher in …

Home-Grown Economic Plans, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The government recently formed a committee of eminent international and Pakistani economists to draft a home-grown economic programme. This article shows that there is little need for such a committee. There is no dearth of reports, recommendations, cabinet decisions and plans prepared by the government itself as well as international development partners, private sector organisations, academic institutions, think tanks and professional bodies which cover all aspects of a home-grown programme. Numerous books, articles, op-ed pieces, webinars, seminars and conferences have also provided many proposals. This piece confines itself to the last six years. During this period, the management of the …

Collaborating For Growth, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Honorable Sayyid Yousaf Raza Gilani, Chairman of the Senate; International Delegates; Distinguished Ladies and Gentlemen, It's always a great pleasure for me to be here at these summits organized by Nutshell. . The topic under discussion is of particular interest to me, as I have been actively writing, speaking, and advocating for Collaboration. In contrast to many other countries that have progressed, I believe that Pakistan needs a unified, agreed-upon goal as a starting point for collaboration. Without a shared vision or mandate, our efforts risk being scattered in various directions. My belief is that Pakistan requires inclusive, sustainable, and …

Success Factors And Pain Points In Economic And Social Development Of South Asia, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

It's always a great pleasure to be addressing the SAARC audiences because I've been doing that for so many years in the past. .Let me begin by congratulating the State Bank of Pakistan for organizing this particular discussion because we're moving in a completely different direction and we have to prepare ourselves and learn from the other countries and other best practices in order to adopt and use Big data, Data analytics , the AI, machine learning tools in order to improve our economies. So I'm quite happy that this topic has been taken up today but let me submit …

The Economic Costs Of Political Instability: Evidence From Pakistan, Shahid Hussain, Falik Shear

Business Review

This study analyses the impact of Political Instability (PI) on economic growth. PI is referred as the frequent regime or government changes in a country. PI affects economic growth due to inconsistent and uncertain government policies regarding investment and trade, tax system, government spending and fiscal balance, debt structure, monetary policy, exchange rates and inflation. PI coupled with these factors affects internal and external investments and ultimately future economic growth rates. Employing data from Pakistan for the period of 1984-2018, a country with a long history of various episodes of political instability under various democratic and non-democratic regimes, this study …

Preparing Pakistan For Meeting The Challenges Of The 21st Century, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The three decades 1990-2020 ( despite the set backs of the Global financial crisis of 2009 and the pandemic of 2019) have resulted in remarkable gains for the Emerging and Developing Countries (EDCs). The hollowing out of the Soviet economy followed by the disintegration of the Soviet Union itself gave impetus to the trend of Deregulation, Privatization and Liberalization which was being followed by Japan, Korea, Singapore, Hong Kong and Taiwan .This trend was then emulated by the larger East Asian countries of Malaysia, Indonesia, Thailand the Philippines. The major and unprecedented break through came when China, the most populous …

Sartaj Aziz: Public Service Embodied, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

He was passionate about agriculture development, mitigation of rural-urban income inequality, absorption of new entrants to job market Very few Pakistanis have made a name for their significant contributions on national and international fronts and are admired for their personal attributes. Sartaj Aziz was one of them – an active student leader during the freedom movement, a civil servant par excellence, an international mover and shaker, a politician of integrity and stature, and an academic of high calibre.

The Metamorphosis Of The Interrelationship Between Competitiveness, Productivity, And Growth Within Economic Realm, Rashid Ali Baloch

CBER Conference

This study investigates that the relationship between competitiveness, productivity and growth is not stable or predictable, it acknowledges that the associations and influence among these factors such as technological, industrial advancement, and policy changes. By studying the changing linearity, researchers aim to comprehend the metamorphosis of the interrelations among competitiveness, productivity, and growth within the economic realm. This study examines the role of technological advancements, innovation, human capital development, and institutional reforms in shaping the country's growth trajectory.

Digital Literacy And Inclusive Growth: Examining Digital Empowerment Of Female Students In Lahore, Hafsah Batool, Samia Nasreen, Attifa Arif

CBER Conference

This research study aims to investigate the role of socio-economic factors in the digital adoption of female university students in Lahore, considering the global impact of digitalization on the economy and employment generation. The primary objective is to explore the digital empowerment status of female students in Lahore and its implications for promoting inclusive growth and bridging the digital divide. The study will utilize a modified scale for the dependent variable, focusing on the dimensions of digital awareness, legal understanding, and economic aspects of digital empowerment.

Relationship Between Human Capital And Urban Growth, Lucky Bizenjo

CBER Conference

This study has provided new insights into the relationship between urbanization and human capital, made its implications at the global income group level and national level. In the first study, panel data of 87 countries used from 1991 to 2019. The results showed that education is found to be negatively and insignificantly associated with urbanization at the global level, but it is found to be positive (though insignificant) in low-income countries, and positive and significant in low-income countries and middle-income countries, and high-income countries. Our research suggests that as the income of a country increases, the contribution of education to …

Impact Of Oil Price And Its Volatility On Cpi Of Pakistan: Bivariate Egarch Model, Abida Naurin

CBER Conference

The current research study targets to explore the impact of oil price and its volatility on CPI in case of Pakistan from the period 1980:M1 to 2018:M12. In this study we used the financial time series econometrics techniques; first applied the Box-Cox transformation on the data which suggested log transformation is required for all series.

A Look At Provincial Budgets, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Budget discussions and debates in Pakistan have historically focused on the federal government and FBR, though the provincial budgets should occupy a salient place in the aftermath of the 18th Amendment and the 7th National Finance Commission Award. This has not been the case despite the fact that the objectives of raising the tax-to-GDP ratio and efficient and effective delivery of public goods and services to the citizens can be achieved mainly through provincial budgets.

Comment : Economic Consequences Of Budgetary Options, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Let me first concede that I have great deal of sympathy with those who have been given the responsibility for preparing the FY24 Budget. We are faced with the most difficult external and domestic circumstances. Global economic conditions and geopolitical compulsions are unfavourable.

Reviving Agricultural Growth : Part - Vi, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan will have to develop a unified market linking the farms to retail outlets covering the full supply chain particularly in high-value commodities. Corporate investment and competition in on-farm storage, refrigerated vans and specialized trucks, silos and warehouses, wholesale distribution channels supplying to the processors, and opening up the highly inefficient and regulated marketing will eliminate the excessive rents earned by those involved in the present arrangements. This ‘unearned’ premium under a reconfigured modern value chain bolstered by competitive forces will then accrue to the farmers and the consumers while acting as a restraint on food inflation.

Reviving Agricultural Growth : Part - V, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Mechanization, technology and advisory services: one of the major constraints facing small holders is the lack of resources and knowledge about modern practices to adapt techniques of production using mechanization. The intensity of the use of machinery and implements by large farmers is one of the factors responsible for the wide differential in the productivity attained on their farms compared to that on small farms. A number of agritech companies have sprung up in the country but they are also mostly catering to the well-to-do and educated farmers, thus causing anxiety that this will further widen the productivity gap.

Reviving Agricultural Growth : Part - Iv, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Import substitution and export promotion: agro-based exports (food, textile, leather groups) fetch 75-80 per cent of total earnings but the direct exports of agricultural commodities are limited to only $5 billion, dominated mainly by rice. On the other hand, food and agricultural imports have risen to $10 billion creating a deficit on food and agriculture trade balance of $5 billion annually. One of the main reasons is that cotton imports have become a consistent feature for the last several years as domestic production has taken a dive drastically since Bt cotton has been introduced through theft, plagiarism and without safeguards. …

Reviving Agricultural Growth : Part - Iii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

At present, the canal irrigation management system recovers only a quarter of its repair and maintenance costs. In the 1970s, the entire cost was recovered by these water charges called ‘abiana’. The present average rate of surface water charges per acre is only one-fourth of what the farmer pays for tube wells and so it is not the ability to pay constraint. Flat water pricing or uniform water charges rather than usage based on volumetric measures militate against the adoption of high efficiency irrigation technologies and conservation of water. Punjab used to charge a flat rate of Rs 135 per …

Reviving Agricultural Growth : Part - Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The question we have to address is: what can be done to boost the productivity of 88 per cent of the farms that own less than 12.5 acres of land and cultivate 45 per cent of total farm area. The highest yields achieved per acre on farms of progressive large farmers (more than 50 acres) is nine times that of small farms and four times that of medium farmers (12.5–50 acres). This gap between potential and actual productivity is to be reduced in order to raise the national average yield of crops and livestock.

The Future Of Our Economy - Part I, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The future of any economy is closely linked with its present and the past. Pakistan’s economic past has gone through different phases with impressive growth and poverty reduction in the 1960s, 1980s, 2000-2007 and 2014-16, and 2020-22. The immediate precarious situation where both consumer and business confidence are at the lowest ebb, international ratings and market sentiment are negative and foreign exchange constraints are binding, if projected into the future and discounting the past, may result in an extremely dismal outlook. Should the present assumptions be carried forward as they are? Would these circumstances – both external and internal – …

Post-Pandemic And Post-Floods Rural Sindh Economy, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The Dynamics of the 21st century is clearly pointing out that despite the impulses of De globalization , protectionism and nationalism in the advanced countries the nations of the world are becoming increasingly dependent on each other. The three clear manifestation of the growing trends exhibited in the recent years are (1) Covid19 pandemic (2) Global warming and climate change (3) consequences of financial integration. The main purpose of this paper is to convey the message loud and clear that even a small part of the world economy such as rural Sindh cannot escape the wrath of the pandemics , …

India’S Economy At 75 : Part Iii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Despite impressive achievements since 1991, India is facing several major challenges. A major problem is absorbing its youth in a productive labour force and finding gainful employment for them. Half of its population is under the age of 25. Only 35 per cent of the working age population has a job while 12 million new entrants would enter the labour force every year. The past record in labour absorption, despite impressive economic growth, has not been stellar. The great divide between the organized and unorganized parts of the economy is growing. Ninety per cent of the jobs are in the …

India’S Economy At 75 : Part Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

India’s success factors may be many but three salient features need emphasis. First, Indian entrepreneurs are dynamic, vibrant and innovative. They even used the socialist economy regime of control and license raj for ‘learning by doing’. Just to give an example, India had a ramshackle automobile industry dominated by two outdated models until the 1990s. The suppliers, engineers, vendors, parts manufacturers did acquire the techniques of supply chain management, production and distribution under most adverse circumstances. When the economy did open up in the post-1991 period and the private sector allowed to set up manufacturing industries without prior approvals, among …

India’S Economy At 75 : Part I, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

India was considered by its colonial rulers as the brightest jewel in the British crown as it was relatively well-endowed in terms of natural and human resources, physical infrastructure, and entrepreneurship. India’s social and economic indicators at the time of independence were similar to those in the countries of Southeast Asia and China in terms of level of poverty, illiteracy, and health status. When independence was achieved, continuity with the past was least disrupted as the majority of the experienced civil servants who administered British India opted to serve the newly independent country. Another advantage was that the political party …