This article critically examines recent literature for apparently contradictory findings of FHP a... more This article critically examines recent literature for apparently contradictory findings of FHP and KZ strand theory of investment cash-flow responsiveness, as firm level investment is one of the major drivers of economic growth. The reason for opposite findings of FHP and KZ is: FHP addressed the supply side determinants of external finance, while KZ used the demand side determinants. Recent findings show that investment irreversibility might cause insignificant investment cash-flow sensitivity for constrained firms. Furthermore, recent studies demonstrate that cash-flow volatility does play an important role in determining degree of sensitivity of investment to change in internally generated corporate funds within constrained group of firms. For constrained firms asymmetric information problem is dominated by cash-flow volatility and investment irreversibility varies positively with cash-flow volatility. Financial constraint should be relaxed for constrained firms which have relat...
This paper supports the validity of nonlinear quadratic U shaped function between female labor fo... more This paper supports the validity of nonlinear quadratic U shaped function between female labor force participation rate and Economic Growth for Bangladesh over the period 1991-2012. The result is robust when growth of per capita energy consumption is considered as a proxy indicator of economic development. In Bangladesh the rising portion of U curve is explained by women's active participation in manufacturing and service sector. Women are still economically active in the Agricultural sector of the economy. Added worker effect dominates discouraged worker effect. Women join the labor force regardless their marital status. Female labor force participation has positive impact on economic growth.
Current Research in Environmental Sustainability, 2021
Ziala Village of Satkhira District in Bangladesh is well known for cow dung management and biogas... more Ziala Village of Satkhira District in Bangladesh is well known for cow dung management and biogas production. Biogas plants produce huge quantities of organic residues and biogas. Cow dung is widely used in the plant as a part of waste management and biogas production. The residues are used as organic fertilizer and biogas is used as fuel in the Ziala Village. Therefore, the study was conducted to observe the effectiveness of using cow dung residues produced in biogas plants and its subsequent impacts on socioeconomic profile. The study was based on face to face interview of randomly selected dairy farmers in 2014. Twelve representative samples of biogas plants were randomly selected for interviewing. Findings suggested that renewable energy transfer system in the form of biogas plant was successful in converting cow dung into energy and nutrient rich organic fertilizer, which reduced the cost of purchasing chemical fertilizer for plant owners. Renewable energy transfer plants noticeably improved the overall cooking environment of the biogas digesters and reduced the time needed to collect firewood. This facilitates livestock management and preservation of forest resources. Biogas plants eventually contributed to elevate environmental condition and resource recovery which ultimately improved socioeconomic profiles in terms of occupational distribution and educational attainment of the participating households. However, agricultural wastes and cow dung were not optimally managed by some households in surveyed area. This causes environmental degradation in terms of water and air pollution in the study area.
Many global shocks, including the renegotiation of NAFTA, the United States–China trade war, the ... more Many global shocks, including the renegotiation of NAFTA, the United States–China trade war, the Brexit, and the COVID-19 pandemic, may have recently influenced the inflation spillover in the G7 countries. The current literature overlooks the influence of these important events on the inflation spillover of the G7 countries. This study fulfills this gap and investigates the nature of inflation spillover in the short, medium, and long term. Using the monthly data from 1956:6 to 2020:12, the study finds that Japan and the United States are the main transmitters of inflation. International trade, purchasing power parity, low-cost technology, and the Abenomics policy were found to be responsible for the inflation spillover. We suggest that the central banks of these countries collaborate to achieve the targeted inflation rate.
This paper investigates a panel of 289 Indonesian firms and 73 Bangladeshi firms over the period ... more This paper investigates a panel of 289 Indonesian firms and 73 Bangladeshi firms over the period 1998-2006 to study the extent to which the availability of the Internal finance in terms of cash-flow influences firms' growth. There is less than one for one correspondence between assets growth and Internal Finance using the simple dynamic asset growth model augmented with cash-flow. This result is robust to estimating more general and extended dynamic model. Growth of assets is not constrained by the profit generating capacity of firms in Indonesia as well as in Bangladesh. Along with internally generated funds, growth of firms is determined by external equity finance, as well as institutional finance.
This paper supports the validity of nonlinear quadratic U shaped function between female labor fo... more This paper supports the validity of nonlinear quadratic U shaped function between female labor force participation rate and Economic Growth for Bangladesh over the period 1991-2012. The result is robust when growth of per capita energy consumption is considered as a proxy indicator of economic development. In Bangladesh the rising portion of U curve is explained by women's active participation in manufacturing and service sector. Women are still economically active in the Agricultural sector of the economy. Added worker effect dominates discouraged worker effect. Women join the labor force regardless their marital status. Female labor force participation has positive impact on economic growth. The contribution of this paper is to find the Quadratic U shaped labor supply function for women of Bangladesh Economy over the period 1991-2012. Women are mostly economically active in the manufacturing sector, along with service and agricultural sectors. This paper estimates the level of per capita GDP beyond which the U Curve bends upward. Time series evidence adheres to the notion that female labor force participation expedites Economic growth of Bangladesh.
This paper investigates the factors responsible for Environmental degradation in terms of higher ... more This paper investigates the factors responsible for Environmental degradation in terms of higher Carbon dioxide and Nitrous oxide emission over the period 1981 – 2011 for Bangladesh and India from data of World development indicator. Industrialization and greenhouse gas are major contributing factors identified for deteriorating the air quality in Bangladesh and India respectively. Concentration of population in urban areas increases carbon emission and economic globalization reduces Nitrous oxide emission in both economies. Estimation results of reduced from equation for CO 2 emission provides support in favour of inverted U and N shaped Kuznets curve for India which is robust to using dynamic specification. For Bangladesh the shape is Inverted U but this is not robust to using dynamic model. In quadratic approach to Kuznets curve energy consumption does play an important role for increased carbon emission in India but not in Bangladesh.
This article critically examines recent literature for apparently contradictory findings of FHP a... more This article critically examines recent literature for apparently contradictory findings of FHP and KZ strand theory of investment cash-flow responsiveness, as firm level investment is one of the major drivers of economic growth. The reason for opposite findings of FHP and KZ is: FHP addressed the supply side determinants of external finance, while KZ used the demand side determinants. Recent findings show that investment irreversibility might cause insignificant investment cash-flow sensitivity for constrained firms. Furthermore, recent studies demonstrate that cash-flow volatility does play an important role in determining degree of sensitivity of investment to change in internally generated corporate funds within constrained group of firms. For constrained firms asymmetric information problem is dominated by cash-flow volatility and investment irreversibility varies positively with cash-flow volatility. Financial constraint should be relaxed for constrained firms which have relat...
This paper supports the validity of nonlinear quadratic U shaped function between female labor fo... more This paper supports the validity of nonlinear quadratic U shaped function between female labor force participation rate and Economic Growth for Bangladesh over the period 1991-2012. The result is robust when growth of per capita energy consumption is considered as a proxy indicator of economic development. In Bangladesh the rising portion of U curve is explained by women's active participation in manufacturing and service sector. Women are still economically active in the Agricultural sector of the economy. Added worker effect dominates discouraged worker effect. Women join the labor force regardless their marital status. Female labor force participation has positive impact on economic growth.
Current Research in Environmental Sustainability, 2021
Ziala Village of Satkhira District in Bangladesh is well known for cow dung management and biogas... more Ziala Village of Satkhira District in Bangladesh is well known for cow dung management and biogas production. Biogas plants produce huge quantities of organic residues and biogas. Cow dung is widely used in the plant as a part of waste management and biogas production. The residues are used as organic fertilizer and biogas is used as fuel in the Ziala Village. Therefore, the study was conducted to observe the effectiveness of using cow dung residues produced in biogas plants and its subsequent impacts on socioeconomic profile. The study was based on face to face interview of randomly selected dairy farmers in 2014. Twelve representative samples of biogas plants were randomly selected for interviewing. Findings suggested that renewable energy transfer system in the form of biogas plant was successful in converting cow dung into energy and nutrient rich organic fertilizer, which reduced the cost of purchasing chemical fertilizer for plant owners. Renewable energy transfer plants noticeably improved the overall cooking environment of the biogas digesters and reduced the time needed to collect firewood. This facilitates livestock management and preservation of forest resources. Biogas plants eventually contributed to elevate environmental condition and resource recovery which ultimately improved socioeconomic profiles in terms of occupational distribution and educational attainment of the participating households. However, agricultural wastes and cow dung were not optimally managed by some households in surveyed area. This causes environmental degradation in terms of water and air pollution in the study area.
Many global shocks, including the renegotiation of NAFTA, the United States–China trade war, the ... more Many global shocks, including the renegotiation of NAFTA, the United States–China trade war, the Brexit, and the COVID-19 pandemic, may have recently influenced the inflation spillover in the G7 countries. The current literature overlooks the influence of these important events on the inflation spillover of the G7 countries. This study fulfills this gap and investigates the nature of inflation spillover in the short, medium, and long term. Using the monthly data from 1956:6 to 2020:12, the study finds that Japan and the United States are the main transmitters of inflation. International trade, purchasing power parity, low-cost technology, and the Abenomics policy were found to be responsible for the inflation spillover. We suggest that the central banks of these countries collaborate to achieve the targeted inflation rate.
This paper investigates a panel of 289 Indonesian firms and 73 Bangladeshi firms over the period ... more This paper investigates a panel of 289 Indonesian firms and 73 Bangladeshi firms over the period 1998-2006 to study the extent to which the availability of the Internal finance in terms of cash-flow influences firms' growth. There is less than one for one correspondence between assets growth and Internal Finance using the simple dynamic asset growth model augmented with cash-flow. This result is robust to estimating more general and extended dynamic model. Growth of assets is not constrained by the profit generating capacity of firms in Indonesia as well as in Bangladesh. Along with internally generated funds, growth of firms is determined by external equity finance, as well as institutional finance.
This paper supports the validity of nonlinear quadratic U shaped function between female labor fo... more This paper supports the validity of nonlinear quadratic U shaped function between female labor force participation rate and Economic Growth for Bangladesh over the period 1991-2012. The result is robust when growth of per capita energy consumption is considered as a proxy indicator of economic development. In Bangladesh the rising portion of U curve is explained by women's active participation in manufacturing and service sector. Women are still economically active in the Agricultural sector of the economy. Added worker effect dominates discouraged worker effect. Women join the labor force regardless their marital status. Female labor force participation has positive impact on economic growth. The contribution of this paper is to find the Quadratic U shaped labor supply function for women of Bangladesh Economy over the period 1991-2012. Women are mostly economically active in the manufacturing sector, along with service and agricultural sectors. This paper estimates the level of per capita GDP beyond which the U Curve bends upward. Time series evidence adheres to the notion that female labor force participation expedites Economic growth of Bangladesh.
This paper investigates the factors responsible for Environmental degradation in terms of higher ... more This paper investigates the factors responsible for Environmental degradation in terms of higher Carbon dioxide and Nitrous oxide emission over the period 1981 – 2011 for Bangladesh and India from data of World development indicator. Industrialization and greenhouse gas are major contributing factors identified for deteriorating the air quality in Bangladesh and India respectively. Concentration of population in urban areas increases carbon emission and economic globalization reduces Nitrous oxide emission in both economies. Estimation results of reduced from equation for CO 2 emission provides support in favour of inverted U and N shaped Kuznets curve for India which is robust to using dynamic specification. For Bangladesh the shape is Inverted U but this is not robust to using dynamic model. In quadratic approach to Kuznets curve energy consumption does play an important role for increased carbon emission in India but not in Bangladesh.
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