This study was conducted to estimate the technical efficiency of farmers in garlic production in ... more This study was conducted to estimate the technical efficiency of farmers in garlic production in Khyber Pakhtunkhwa province, Pakistan. Data was randomly collected from 110 farmers using multistage sampling technique. Maximum likelihood estimation technique was used to estimate Cob-Douglas frontier production function. The analysis revealed that the estimated mean technical efficiency was 77 percent indicating that total output can be further increased with efficient use of resources and technology. The estimated gamma value was found to be 0.93 which shows 93% variation in garlic output due to inefficiency factors. The analysis further revealed that seed rate, tractor hours, fertilizer, FYM and weedicides were positive and statistically significant production factors. The results also show that age and education were statistically significant inefficiency factors, age having positive and education having negative relationship with the output of garlic. This study suggests that in o...
Apprehension pertaining to Stock return volatility always has been producing the appreciable sign... more Apprehension pertaining to Stock return volatility always has been producing the appreciable significance in the various current research works and it has been lucrative to many researchers for forecasting stock market volatility. This study is about the forecasting of stock returns volatility on the basis of interest rate volatility in the well established Pakistan Stock Exchange (PSX). The stock returns are calculated on the basis of KSE 100 index and interest rate volatility is calculated on the basis of monthly treasury bills rate during a period of 1994 to 2016. Various volatility models like Auto Regressive Conditional Heteroscedasticity (ARCH) and Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) were used to predict stock return volatility on the basis of interest rate volatility in Pakistan. ARCH model is one of the well known methods to forecast the error term in the data and which will certain our forecast regarding stock prices. In the Pakistan Stock Exc...
The 1994 Cairo International Conference on Population and Development (lCPD) in their Programme o... more The 1994 Cairo International Conference on Population and Development (lCPD) in their Programme of Action calls for promoting gender equality and equity and the empowerment of women. Furthermore, the conference also recognises the basic rights of all couples and individuals to decide freely and responsibly the number, spacing, and timing of their children, as well as the right to the information and the means to do so [Sadik (1994)]. The need for such a programme of action arose in view of the fact that in many countries, including Pakistan, women are generally least empowered and hence they have negligible rights to decide about the number of their children. According to the 1990-91 Pakistan Demographic and Health Survey, over 54 percent women either wanted to stop having children or wanted to wait at least two years before having another child [Ali and Rukanuddin (1992)]. However, in practice, all of these women were not protected; instead, only 12 percent were practising contrace...
Monetary policy and fiscal policy are sister strategies that can be used alone and in combination... more Monetary policy and fiscal policy are sister strategies that can be used alone and in combination to direct the economic goals. In the literature relative efficacy of fiscal and monetary policy has been studied extensively. Friedman and Meiselman (1963), Ansari (1996), Reynolds (2000, 2001), Chari, et al. (1991, 1998), Schmitt and Uribe (2001a), Shapiro and Watson (1988), Blanchard and Perroti (1996), Christiano, et al. (1996), Chari and Kehoe (1998), Kim (1997), Chowdhury (1986, 1988), Chowdhury, et al. (1986), Weeks (1999), Feldstein (2002) and Cardia (1991) have examined the impact of fiscal and monetary policies on various economic aggregates. However, the bulk of theoretical and empirical research has not reached on conclusion concerning the relative power of fiscal and monetary policy to effect economic growth. Some researchers find support for the monetarist view, which suggests that monetary policy generally has a greater impact on economic growth and dominates fiscal policy...
Trade policies in developing countries have been at the centre-stage of analysis for the past sev... more Trade policies in developing countries have been at the centre-stage of analysis for the past several decades. The desire for rapid economic growth in developing countries raised many question about the relationship between trade and growth [Krueger (1997a)]. It is, by now, well-established that there exists a strong positive relationship between export growth and overall economic growth in general and manufactured export growth and overall economic growth in particular.1 Those countries that have been most successful in expanding their manufactured exports have not only achieved higher economic growth but also succeeded in alleviating poverty? This has indeed been the case in East Asia [ADB (1997)]. The core question therefore is: which trade strategies have enabled countries to expand exports in general and manufactured exports in particular?
Fiscal policy refers to government‟s efforts to influence the direction of the economy through ch... more Fiscal policy refers to government‟s efforts to influence the direction of the economy through changes in taxes or expenditures. Optimal fiscal policy in Pakistan and in other developing countries plays a pivotal role in growth process and, hence, serves as a vital instrument for economic growth. The efficacy of fiscal policy in improving economic conditions in the long run is, however, a controversial issue and needs further investigation. In conventional model, a federal tax cut without a corresponding reduction in federal expenditures will encourage consumption expenditures and interest earnings due to increase in personal disposable income. Contrarily, according to Ricardian Equivalence Theorem (RET), the same change in fiscal policy will not result in any of the above mentioned macroeconomic impacts. In other words, a reduction in deficit-financed federal tax cut will not affect macroeconomic outcomes [Saxton (1999)].
Recognizing the importance of sound fiscal policy, the present study analyses the link between fi... more Recognizing the importance of sound fiscal policy, the present study analyses the link between fiscal policy and macroeconomic activities for Pakistan's economy for the period 1972 – 2008. The study also examines the effectiveness of fiscal policy under different political regimes. Moreover, this study briefly reviews the government expenditures, tax revenues and sources of financing the budget deficit. After the brief investigation of the structure of Pakistan economy, this study concludes that the effects of budget deficit on macroeconomic activities are different in Pakistan from other lagging economies. The response of current account balance and private consumption to rising budget deficit is also not in accordance with neoclassical views. In case of Pakistan, increase in government expenditures lead to an increase in the level of private consumption. The diverse nature of Pakistan's political regime may have attributed to the dynamics in fiscal policy.
This paper empirically analyzes the determinants of female participation in paid jobs in three Pa... more This paper empirically analyzes the determinants of female participation in paid jobs in three Pakhtun communities in the province of Khyber Pakhtunkhwa, Pakistan. Primary data of a total of 200 households collected through a pre-designed interview schedule is used in the analysis. Binary Logistic Regression technique is used to identify the socio-cultural, demographic and ethnic determinants influencing the decision of women to participate in paid jobs. The results indicate that respondents' education, age, family type, ethnic origin, number of dependent family members and number of literate females in the household have a significant positive association with female participation in paid employment. On the contrary, household size, husband employment, household assets and parents' education of the respondent have a significant negative impact on female participation in paid jobs. The study recommends that in the study area high attention should be given to female education...
This study attempts to examine the linkage between environmental degradation and economic growth ... more This study attempts to examine the linkage between environmental degradation and economic growth in Pakistan over the period 1972-2011. The main concern of this study is to test the validity of Environmental Kuznets Curve in case of Pakistan and aims to find out the total and per capita carbon efficiency of Pakistan. Moreover, this study estimates the tipping point of environmental Kuznets curve in case of Pakistan. The study used Autoregressive Distributed Lag (ARDL) model to determine the robustness of long-run relationship among environmental degradation and economic growth. The results show that the inverted U-shaped relationship between economic growth and environmental degradation is valid in case of Pakistan. The values of total carbon efficiency for Pakistan is 47.69 and per capita carbon efficiency for Pakistan is 0.0002, which are relatively low as compare to other developing and developed countries like in the region. The Tipping Point of EKC in case of Pakistan is 338.34...
Delirium is a common and serious disorder with high morbidity and mortality. It occurs in 35 to 8... more Delirium is a common and serious disorder with high morbidity and mortality. It occurs in 35 to 80 percent of critically ill, hospitalized patients. It may lead to mortality if not detected early. Studies show that delirium causes death in as many as 22 to 76 percent of patients who are hospitalized with delirium. It is often unrecognized and inadequately treated, and this may lead to poor outcome, including long-term care, longer length of stay in hospital, and high impact on health and social expenditure. There may be many reasons that delirium goes undetected, such as not understanding full pathophysiology and not having enough diagnostic tools to detect delirium in the early phase. A clear understanding of neurochemical equilibrium and pathways of the brain will help the clinician to understand the signs and symptoms of delirium. Pathophysiology of delirium is complex, and multiple theories have been proposed to explain its exact pathophysiology, but none of these mechanisms hav...
Asian Journal of Agricultural Extension, Economics & Sociology, 2015
ABSTRACT The study was conducted to investigate the impact of education and certified seed on whe... more ABSTRACT The study was conducted to investigate the impact of education and certified seed on wheat production in district Kohat, Pakistan. For the purpose, proportional allocation sampling technique was used and total of 100 respondents randomly selected to get necessary information. Simple budgeting technique was used for cost and return of wheat production. The econometric technique, Ordinary Least Squares (OLS) OLS estimation model was used to analyze contribution of major factors in the wheat yield. The sign of explanatory variables were found according to our prior expectation of the economic theory. The estimated results of production function indicated that farm yard manure(FYM), total fertilizer nutrient applied and labor days had positive and significantly effect on wheat yield, seed rate had positive but insignificant effect on wheat yield. The impact of both Dummy variables i.e. education and certified seed was positive and significantly affect wheat yield. Finally, it was suggested that there is the need for strengthening agricultural extension services in the study area in order to educate the farming community to ensure the use of recommended certified seed and modern agriculture technology for getting high yield of wheat crop.
The purpose of this paper was to examine the relationship between working capital management stra... more The purpose of this paper was to examine the relationship between working capital management strategies of a firm and its profitability. We also make an attempt to understand the impact of the global macroeconomic conditions on this relationship. We apply correlation analysis and fixed effects estimation on our sample of Indian manufacturing companies. Cash conversion cycle has been utilized as a measure of the working capital management, whereas gross operating profit is used as a proxy for a firm’s profitability. Furthermore, interactive dummies are utilized to investigate the impact of global macroeconomic conditions on the relationship under consideration. The results reveal that cash conversion cycle of a company has a negative correlation with its profitability. Our results also suggest that managers can improve the performance by decreasing the number of days receivables and increasing the number of days payables. Furthermore, our outcomes demonstrate that the working capital strategies should be formulated taking global macroeconomic conditions into consideration. The findings highlight the importance of efficient working capital management practices to improve the profitability of companies.
This study was conducted to estimate the technical efficiency of farmers in garlic production in ... more This study was conducted to estimate the technical efficiency of farmers in garlic production in Khyber Pakhtunkhwa province, Pakistan. Data was randomly collected from 110 farmers using multistage sampling technique. Maximum likelihood estimation technique was used to estimate Cob-Douglas frontier production function. The analysis revealed that the estimated mean technical efficiency was 77 percent indicating that total output can be further increased with efficient use of resources and technology. The estimated gamma value was found to be 0.93 which shows 93% variation in garlic output due to inefficiency factors. The analysis further revealed that seed rate, tractor hours, fertilizer, FYM and weedicides were positive and statistically significant production factors. The results also show that age and education were statistically significant inefficiency factors, age having positive and education having negative relationship with the output of garlic. This study suggests that in o...
Apprehension pertaining to Stock return volatility always has been producing the appreciable sign... more Apprehension pertaining to Stock return volatility always has been producing the appreciable significance in the various current research works and it has been lucrative to many researchers for forecasting stock market volatility. This study is about the forecasting of stock returns volatility on the basis of interest rate volatility in the well established Pakistan Stock Exchange (PSX). The stock returns are calculated on the basis of KSE 100 index and interest rate volatility is calculated on the basis of monthly treasury bills rate during a period of 1994 to 2016. Various volatility models like Auto Regressive Conditional Heteroscedasticity (ARCH) and Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) were used to predict stock return volatility on the basis of interest rate volatility in Pakistan. ARCH model is one of the well known methods to forecast the error term in the data and which will certain our forecast regarding stock prices. In the Pakistan Stock Exc...
The 1994 Cairo International Conference on Population and Development (lCPD) in their Programme o... more The 1994 Cairo International Conference on Population and Development (lCPD) in their Programme of Action calls for promoting gender equality and equity and the empowerment of women. Furthermore, the conference also recognises the basic rights of all couples and individuals to decide freely and responsibly the number, spacing, and timing of their children, as well as the right to the information and the means to do so [Sadik (1994)]. The need for such a programme of action arose in view of the fact that in many countries, including Pakistan, women are generally least empowered and hence they have negligible rights to decide about the number of their children. According to the 1990-91 Pakistan Demographic and Health Survey, over 54 percent women either wanted to stop having children or wanted to wait at least two years before having another child [Ali and Rukanuddin (1992)]. However, in practice, all of these women were not protected; instead, only 12 percent were practising contrace...
Monetary policy and fiscal policy are sister strategies that can be used alone and in combination... more Monetary policy and fiscal policy are sister strategies that can be used alone and in combination to direct the economic goals. In the literature relative efficacy of fiscal and monetary policy has been studied extensively. Friedman and Meiselman (1963), Ansari (1996), Reynolds (2000, 2001), Chari, et al. (1991, 1998), Schmitt and Uribe (2001a), Shapiro and Watson (1988), Blanchard and Perroti (1996), Christiano, et al. (1996), Chari and Kehoe (1998), Kim (1997), Chowdhury (1986, 1988), Chowdhury, et al. (1986), Weeks (1999), Feldstein (2002) and Cardia (1991) have examined the impact of fiscal and monetary policies on various economic aggregates. However, the bulk of theoretical and empirical research has not reached on conclusion concerning the relative power of fiscal and monetary policy to effect economic growth. Some researchers find support for the monetarist view, which suggests that monetary policy generally has a greater impact on economic growth and dominates fiscal policy...
Trade policies in developing countries have been at the centre-stage of analysis for the past sev... more Trade policies in developing countries have been at the centre-stage of analysis for the past several decades. The desire for rapid economic growth in developing countries raised many question about the relationship between trade and growth [Krueger (1997a)]. It is, by now, well-established that there exists a strong positive relationship between export growth and overall economic growth in general and manufactured export growth and overall economic growth in particular.1 Those countries that have been most successful in expanding their manufactured exports have not only achieved higher economic growth but also succeeded in alleviating poverty? This has indeed been the case in East Asia [ADB (1997)]. The core question therefore is: which trade strategies have enabled countries to expand exports in general and manufactured exports in particular?
Fiscal policy refers to government‟s efforts to influence the direction of the economy through ch... more Fiscal policy refers to government‟s efforts to influence the direction of the economy through changes in taxes or expenditures. Optimal fiscal policy in Pakistan and in other developing countries plays a pivotal role in growth process and, hence, serves as a vital instrument for economic growth. The efficacy of fiscal policy in improving economic conditions in the long run is, however, a controversial issue and needs further investigation. In conventional model, a federal tax cut without a corresponding reduction in federal expenditures will encourage consumption expenditures and interest earnings due to increase in personal disposable income. Contrarily, according to Ricardian Equivalence Theorem (RET), the same change in fiscal policy will not result in any of the above mentioned macroeconomic impacts. In other words, a reduction in deficit-financed federal tax cut will not affect macroeconomic outcomes [Saxton (1999)].
Recognizing the importance of sound fiscal policy, the present study analyses the link between fi... more Recognizing the importance of sound fiscal policy, the present study analyses the link between fiscal policy and macroeconomic activities for Pakistan's economy for the period 1972 – 2008. The study also examines the effectiveness of fiscal policy under different political regimes. Moreover, this study briefly reviews the government expenditures, tax revenues and sources of financing the budget deficit. After the brief investigation of the structure of Pakistan economy, this study concludes that the effects of budget deficit on macroeconomic activities are different in Pakistan from other lagging economies. The response of current account balance and private consumption to rising budget deficit is also not in accordance with neoclassical views. In case of Pakistan, increase in government expenditures lead to an increase in the level of private consumption. The diverse nature of Pakistan's political regime may have attributed to the dynamics in fiscal policy.
This paper empirically analyzes the determinants of female participation in paid jobs in three Pa... more This paper empirically analyzes the determinants of female participation in paid jobs in three Pakhtun communities in the province of Khyber Pakhtunkhwa, Pakistan. Primary data of a total of 200 households collected through a pre-designed interview schedule is used in the analysis. Binary Logistic Regression technique is used to identify the socio-cultural, demographic and ethnic determinants influencing the decision of women to participate in paid jobs. The results indicate that respondents' education, age, family type, ethnic origin, number of dependent family members and number of literate females in the household have a significant positive association with female participation in paid employment. On the contrary, household size, husband employment, household assets and parents' education of the respondent have a significant negative impact on female participation in paid jobs. The study recommends that in the study area high attention should be given to female education...
This study attempts to examine the linkage between environmental degradation and economic growth ... more This study attempts to examine the linkage between environmental degradation and economic growth in Pakistan over the period 1972-2011. The main concern of this study is to test the validity of Environmental Kuznets Curve in case of Pakistan and aims to find out the total and per capita carbon efficiency of Pakistan. Moreover, this study estimates the tipping point of environmental Kuznets curve in case of Pakistan. The study used Autoregressive Distributed Lag (ARDL) model to determine the robustness of long-run relationship among environmental degradation and economic growth. The results show that the inverted U-shaped relationship between economic growth and environmental degradation is valid in case of Pakistan. The values of total carbon efficiency for Pakistan is 47.69 and per capita carbon efficiency for Pakistan is 0.0002, which are relatively low as compare to other developing and developed countries like in the region. The Tipping Point of EKC in case of Pakistan is 338.34...
Delirium is a common and serious disorder with high morbidity and mortality. It occurs in 35 to 8... more Delirium is a common and serious disorder with high morbidity and mortality. It occurs in 35 to 80 percent of critically ill, hospitalized patients. It may lead to mortality if not detected early. Studies show that delirium causes death in as many as 22 to 76 percent of patients who are hospitalized with delirium. It is often unrecognized and inadequately treated, and this may lead to poor outcome, including long-term care, longer length of stay in hospital, and high impact on health and social expenditure. There may be many reasons that delirium goes undetected, such as not understanding full pathophysiology and not having enough diagnostic tools to detect delirium in the early phase. A clear understanding of neurochemical equilibrium and pathways of the brain will help the clinician to understand the signs and symptoms of delirium. Pathophysiology of delirium is complex, and multiple theories have been proposed to explain its exact pathophysiology, but none of these mechanisms hav...
Asian Journal of Agricultural Extension, Economics & Sociology, 2015
ABSTRACT The study was conducted to investigate the impact of education and certified seed on whe... more ABSTRACT The study was conducted to investigate the impact of education and certified seed on wheat production in district Kohat, Pakistan. For the purpose, proportional allocation sampling technique was used and total of 100 respondents randomly selected to get necessary information. Simple budgeting technique was used for cost and return of wheat production. The econometric technique, Ordinary Least Squares (OLS) OLS estimation model was used to analyze contribution of major factors in the wheat yield. The sign of explanatory variables were found according to our prior expectation of the economic theory. The estimated results of production function indicated that farm yard manure(FYM), total fertilizer nutrient applied and labor days had positive and significantly effect on wheat yield, seed rate had positive but insignificant effect on wheat yield. The impact of both Dummy variables i.e. education and certified seed was positive and significantly affect wheat yield. Finally, it was suggested that there is the need for strengthening agricultural extension services in the study area in order to educate the farming community to ensure the use of recommended certified seed and modern agriculture technology for getting high yield of wheat crop.
The purpose of this paper was to examine the relationship between working capital management stra... more The purpose of this paper was to examine the relationship between working capital management strategies of a firm and its profitability. We also make an attempt to understand the impact of the global macroeconomic conditions on this relationship. We apply correlation analysis and fixed effects estimation on our sample of Indian manufacturing companies. Cash conversion cycle has been utilized as a measure of the working capital management, whereas gross operating profit is used as a proxy for a firm’s profitability. Furthermore, interactive dummies are utilized to investigate the impact of global macroeconomic conditions on the relationship under consideration. The results reveal that cash conversion cycle of a company has a negative correlation with its profitability. Our results also suggest that managers can improve the performance by decreasing the number of days receivables and increasing the number of days payables. Furthermore, our outcomes demonstrate that the working capital strategies should be formulated taking global macroeconomic conditions into consideration. The findings highlight the importance of efficient working capital management practices to improve the profitability of companies.
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