Shakil Quayes
University of Massachusetts, Lowell, Economics, Faculty Member
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Abstract This research uses logistic regression to determine whether a parent (father or mother) and a child are substitutes or complements in the family labor supply decision in Bangladesh. We look separately at models for... more
Abstract This research uses logistic regression to determine whether a parent (father or mother) and a child are substitutes or complements in the family labor supply decision in Bangladesh. We look separately at models for children's market work and children's household work. For market work, we test our models for eight demographic groups of children, namely, younger and older, rural and urban, boys and girls. Our results show that for market work, fathers and children may be substitutes or complements in supplying ...
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The importance of modeling farm households in LDC's as being both producers and consumers of the same good has been recognized for some time. Using a Cobb-Douglas specification for the production function and a linear expenditure... more
The importance of modeling farm households in LDC's as being both producers and consumers of the same good has been recognized for some time. Using a Cobb-Douglas specification for the production function and a linear expenditure system, the paper presents empirical evidence of the linkage between the consumption and production decisions of the agricultural household in Bangladesh. In addition, the study finds that the government price support policy for rice results in higher real wages and hence benefits the landless labor.
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Using a standard demand–supply model, this study investigates the relationship between foreign participation in the equity market and stock prices, incorporating the effects of inflation and the demographic structure. The results show... more
Using a standard demand–supply model, this study investigates the relationship between foreign participation in the equity market and stock prices, incorporating the effects of inflation and the demographic structure. The results show that while foreign participation in the equity market and the proportion of population in their prime earning age have a positive impact, inflation has a negative impact on stock prices.
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There is no denying the fact that population growth in Bangladesh is still deemed to be a major problem despite enormous success in the area of family planning. Over the last two decades the rural population growth has been almost... more
There is no denying the fact that population growth in Bangladesh is still deemed to be a major problem despite enormous success in the area of family planning. Over the last two decades the rural population growth has been almost stagnant not because inadequate biological reproduction but as a consequence of large migration to the cities and on the other hand the country lacks urban infrastructure to support even the prevailing urban citizens. At the same time, very little has been done, either in terms of expansion and ...
Prior studies have shown empirical evidence of either a tradeoff or a complementary relationship between financial performance and social outreach of a microfinance institution (MFI). To analyze this relationship, I consider the... more
Prior studies have shown empirical evidence of either a tradeoff or a complementary relationship between financial performance and social outreach of a microfinance institution (MFI). To analyze this relationship, I consider the probability of attaining financial sustainability to be a more appropriate predictor of social outreach efforts of an MFI, than standard measures of financial performance. Using an unbalanced panel of 1210 MFIs over a period of 9 years, I estimate the probability of attaining financial sustainability for an individual MFI, utilizing a probit model. Next, I use the predicted probability and other control variables, to explain the variability of social outreach. The results of our study show that the better probability of financial sustainability has a positive effect on depth of outreach, breadth of outreach, and outreach to women.
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Contribution/ Originality This paper's primary contribution is finding that gender disparity in education in Pakistan is actually more acute for the richer households even though overall school enrollment is positively associated... more
Contribution/ Originality This paper's primary contribution is finding that gender disparity in education in Pakistan is actually more acute for the richer households even though overall school enrollment is positively associated with household income. Furthermore, the empirical results show no evidence of gender discrimination in household resource allocation.
This study presents an empirical analysis of the cost effi ciency of a sample of microfi nance institutions (MFIs) operating in Bangladesh. These MFIs substantially vary in size and can also be characterised by their affi liation with... more
This study presents an empirical analysis of the cost effi ciency of a sample of microfi nance institutions (MFIs) operating in Bangladesh. These MFIs substantially vary in size and can also be characterised by their affi liation with donor and funding agencies. Therefore, the measurement of their performance poses an important challenge for the donor agencies and policymakers. Using stochastic frontier models in the measurement of the level of effi ciency for the MFIs, the study suggests that larger MFIs are more effi cient with some evidence of a trade-off between effi ciency and outreach.
The paper analyzes the determinants of social outreach of microfinance institutions (MFIs), using three measures of outreach – depth of outreach, breadth of outreach, and outreach to women, and its possible complementarity with financial... more
The paper analyzes the determinants of social outreach of microfinance institutions (MFIs), using three measures of outreach – depth of outreach, breadth of outreach, and outreach to women, and its possible complementarity with financial performance. We use an unbalanced panel of 1,219 MFIs over a period of 20 years to investigate the effect of firm-specific characteristics and the impact of prevailing legal system on social outreach of MFIs. Rejecting the notion of tradeoff between financial performance and social outreach, our empirical results show that better financial performance has a positive association with social outreach. Furthermore, we observe that a common law legal system is more conducive in facilitating social outreach, and MFIs operating under common law legal system achieve better depth of outreach, breadth of outreach, and outreach to women, than MFIs under code law legal system and mixed law legal system. While we had expected nonprofit MFIs to exhibit better so...
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The Taxpayer Relief Act (TRA), enacted in 1997, allows tax exemption of capital gains up to 500000formarriedcouplesfilingjointlyand 250 000 for singles, on the sale of primary residence. By making it easier to sell a house that has... more
The Taxpayer Relief Act (TRA), enacted in 1997, allows tax exemption of capital gains up to 500000formarriedcouplesfilingjointlyand 250 000 for singles, on the sale of primary residence. By making it easier to sell a house that has appreciated in price, this tax exemption provides an additional incentive for purchasing a house. The study utilizes a simple regression model to demonstrate that TRA has had a statistically significant positive impact on housing sales.
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Purpose – The purpose of this paper is to analyze the relationship between financial disclosure and the financial performance of microfinance institutions (MFIs). Design/methodology/approach – The paper utilizes ordinary least squares... more
Purpose – The purpose of this paper is to analyze the relationship between financial disclosure and the financial performance of microfinance institutions (MFIs). Design/methodology/approach – The paper utilizes ordinary least squares method to analyze the impact of disclosure on financial performance, an ordered probit model to investigate the possible effect of financial performance on disclosure and utilizes a three-stage least squares method to delineate the endogenous relationship between disclosure and financial performance of MFIs. Findings – The paper finds that better disclosure has a statistically significant positive impact on operational performance of MFIs; second, it also shows that improved financial performance results in better financial disclosure. Keeping the endogenous nature of the relationship between disclosure and performance, the paper uses a three-stage least squares method to show that disclosure and financial performance positively affect each other simul...
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Purpose Microfinance institutions (MFIs) play an important role in economic development, with the dual objectives of social outreach and financial self-sufficiency. The purpose of this study is to examine the influence of organizational... more
Purpose Microfinance institutions (MFIs) play an important role in economic development, with the dual objectives of social outreach and financial self-sufficiency. The purpose of this study is to examine the influence of organizational structure and variations in legal systems on the MFI dual performance goals. Design/methodology/approach Using a sample that includes 1,518 MFIs from 105 different countries over a period of 20 years, this study analyzes the data by applying a model that includes six categories of organizational structures and variations of legal systems, including both civil and common law, with accounting performance measures for the dependent variables. Findings The analyses provide robust results indicating that MFIs structured as non-governmental organizations (NGOs) have better social outreach than all other types of MFIs and exhibit better financial performance than MFIs registered as commercial banks or credit unions. Legal systems also played a role in MFI e...
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"Many economists believe that federal government’s budget deficits result in higher interest rates. This increase in interest rates can stifle private investment and impede the real rate of economic growth for the economy. This paper... more
"Many economists believe that federal government’s budget deficits result in higher interest rates. This increase in interest rates can stifle private investment and impede the real rate of economic growth for the economy. This paper examines the potential impact of federal budget deficits on long-term interest
rates for corporate bonds. The study is based on post-war annual US data, and employs a standard demand-supply model. The empirical results in our study provide evidence that the increasing budget deficits lead to higher interest rate for corporate bonds. In this regard, our study supports arguments for the crowding out theory."
rates for corporate bonds. The study is based on post-war annual US data, and employs a standard demand-supply model. The empirical results in our study provide evidence that the increasing budget deficits lead to higher interest rate for corporate bonds. In this regard, our study supports arguments for the crowding out theory."
Using a standard demand–supply model, this study investigates the relationship between foreign participation in the equity market and stock prices, incorporating the effects of inflation and the demographic structure. The results show... more
Using a standard demand–supply model, this study investigates the relationship between foreign participation in the equity market and stock prices, incorporating the effects of inflation and the demographic structure. The results show that while foreign participation in the equity market and the proportion of population in their prime earning age have a positive impact, inflation has a negative impact on stock prices.
