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This paper investigates the effects of economic uncertainty on growth performance of Pakistan through developing a small macroeconomic model. The GARCH method has been used for construction of economic uncertainty variables related to macroeconomic policies. The structural outcomes clearly indicate that economic policy uncertainty affects negatively on real and nominal sectors of Pakistan. The forecasting of model and different policy uncertainty simulation shocks also indicated that an adjustment in economic policies due to change of policy objectives create uncertain environment in country, which not only deteriorates the investment climate of country, it also affects the economic growth. Our study concludes that economic uncertainty not only reduces the current investment and economic growth, it also affects the future decision of investment and economic growth. This study suggests that sustainable and steady economic policies always reduce economic uncertainty and promote the confidence of economic agents, which help in achieving the targets of investment, trade and economic growth. Our study also maintains the predictability and reliability of government policies for the accomplishment of macroeconomic goals and economic development of country. [ABSTRACT FROM AUTHOR]

The paper studies symptoms of Dutch disease in the Pakistani economy arising from international remittances. An IV Bayesian analysis is carried out to take care of the endogeneity and uncertainty due to the managed float of Pakistani Rupee. We find evidence for both spending and resource movement effects in both the short and the long-run. These impacts are stronger and different from those the Official Development Assistance and the FDI exert. We find that while aggregate remittances and the remittances from Persian Gulf contribute to the Dutch disease in Pakistan, those from North America and Europe do not. [ABSTRACT FROM AUTHOR]

International Monetary Fund (IMF) was established in December 1945. Pakistan became member of IMF in 1950. Due to poor economic conditions Pakistan sought help from IMF again in 2008. Fiscal programs of IMF have shown remarkable effects on economies of some countries. Yet in case of Pakistan there were negative effects. The primary reason is the non-compliance to the conditions agreed to at the time of obtaining loan. The factors leading to agreement were aimed to restore macroeconomic stability, bringing down inflation and strengthening foreign currency reserves. However later on, there was a continuous increase in budget deficit and inflation. Low level of economy and law and order situations affected the Fiscal policy of Pakistan. Lately, Government of Pakistan decided to quit IMF Program on its expiry on 30 September 2011, seemingly in view of fiscally better placed. In this paper an analysis has been made in view of post quitting scenario which may accrue to our economy. [ABSTRACT FROM AUTHOR]

The present paper investigates the measurement of transient poverty when each person's welfare level fluctuates due to exogenous risk. The paper namely characterizes the sensitivity of transient/chronic poverty decomposition with respect to the poverty line and to the expected welfare level so that the decomposition analysis will be based on solid theoretical foundations and be robust empirically. Theoretical results show that poverty measures associated with prudent risk preferences perform better than other measures in assuring that the value of transient poverty increases with the depth of chronic poverty and that the decomposition is not highly sensitive to the poverty line. Poverty measures such as those associated with constant relative risk aversion are thus superior to popular Foster–Greer–Thorbecke (FGT) measures such as headcount, poverty gap, and squared poverty gap indices. These theoretical arguments are confirmed empirically by the application of the decomposition to a two-period household panel dataset from rural Pakistan. The relative magnitudes of transient versus chronic poverty are more robust to changes in the poverty line when poverty measures associated with constant relative risk aversion are used than when FGT poverty measures are used. [ABSTRACT FROM AUTHOR]

Globalization is increasingly a driving force behind vibrant economies around the world. This paper discusses the impact of globalization and natural resources on economic growth from 1970 to 2014 in Pakistan. Based on an auto-regressive distributive lag (ARDL) model, the paper infers that globalization promotes economic growth in Pakistan. Natural resources also contribute to economic growth, as the causality results suggest bi-directional causality between globalization and use of natural resources. Policy implications are that countries should emphasize security, increase exports, encourage technological strength, and increase its intellectual management capacity. [ABSTRACT FROM AUTHOR]

Purpose Technology adoption is a great challenge in the banking sector of Pakistan. A recent report issued by state bank of Pakistan revealed that there is a squeak growth, only 3 percent, in internet banking adoption. In order to effectively delve into the issue of internet banking adoption, the purpose of this paper is to use unified theory of acceptance and use of technology factors, namely performance expectancy and effort expectancy and e-service quality (E-SQ), as theoretical lens for this study.Design/methodology/approach The research model was empirically tested using 398 valid responses from customers of commercial banks in Pakistan. The theoretical model was tested using structural equation modeling.Findings Findings indicate that performance expectancy, effort expectancy, website design, customer service, assurance and reliability have direct influence on user intention to adopt internet banking. Results revealed that approximately 79 percent of variance in user intention to adopt internet banking was explained by predictors. In addition, the mediating role of performance expectancy and effort expectancy among website design, customer service and user intention was also confirmed.Practical implications For researchers, this study provides a base of integrated technology model and it suggests using this model in other online domains such as mobile payment and online web-shopping for further refinement. For policymakers, understanding the key constructs is important to design, refine and implement new internet banking website that, in turn, will boost internet banking adoption trend among users of commercial banks.Originality/value This paper makes a unique contribution toward information system and services marketing literature. The study schematized that website design, customer service, assurance and reliability are the key dimensions of E-SQ and significantly influence the user intention to adopt internet banking. [ABSTRACT FROM AUTHOR]

National interest is considered as the top priority for the survival of any country. With the changing paradigms at regional and international level, Pakistan's national position is facing ever-changing scenario of its dynamic nature. The regional and international powers, (especially China) with their mega projects have created ripples in the region, thus changing the paradigms internationally. CPEC is among one of the paradigms, which is a Comprehensive Development Framework (CDF) that involves Chinese investments of over 46 billion dollars in various sectors including; Gwadar Port, energy projects, infrastructure development, and industrial cooperation. CPEC has been rightly titled a "game changer" in terms of its promise to transform regional connectivity through shared economic development. The paper highlights various existing as well as upcoming challenges, and presents a comprehensive solution to move forward. [ABSTRACT FROM AUTHOR]

The objective of this paper is to investigate the effects of investment profile, government stability and macroeconomic management indicators on foreign direct investment in Pakistan. The results of time series data from 1984 to 2013 showed that there is a significant impact of explanatory variables on foreign private investment. Our results show that the government stability and investment profile of the country and per capita gross domestic product encourage the inflow of foreign private investment while real exchange rate depreciation have an adverse relationship with foreign private investment. Our study suggests that the government and its institutions must investment profile of the country, ensure government stability and strengthen the macroeconomic management indicators to make visible improvements in attracting foreign private investment inflow in Pakistan. [ABSTRACT FROM AUTHOR]

The China-Pakistan Economic Corridor (CPEC) is a well-crafted economic partnership between China and Pakistan which is expected to bring economic development and prosperity not only for the two neighboring countries but also for the whole South Asia. It is considered central to China-Pakistan relations and the CPEC will link Kashgar to Gawadar port through the extension of Silk Road initiative which is widely known as Belt and Road Initiative (BRI). With the investment of 46 billion US dollars, its completion is expected by 2030. CPEC is the most discussed and debated economic partnership and it has great geostrategic importance for Pakistan to counterbalance Indian influence in South Asia. However, the focus on geopolitical and location of the route has been dominated the important questions concerning "How Pakistan should ensure its economic benefit out of this mega project?" This paper, therefore, aims to develop a theoretical framework and put forward relevant recommendations on how Pakistan can ensure its economic benefits as compared to the forecasted economic and political benefits of China and the challenges ahead. [ABSTRACT FROM AUTHOR]

This paper investigates whether different measures of ex-post poverty and ex-ante vulnerability to poverty provide consistent estimates of poverty and vulnerability to poverty across households. Moreover, if there is some heterogeneity in the identification of households as poor and vulnerable, it investigates the degree of mismatch between measures? The ex-post monetary poverty (MP) and multidimensional poverty (MDP) measures are used to identify poor households. Likewise, the ex-ante vulnerability to monetary poverty (VMP) and vulnerability to multidimensional poverty (VMDP) measures are used to identify vulnerable households. Using a large household survey data-set of about 90,000 households from the Punjab province of Pakistan, we find that most of the vulnerable households are accurately identified by the ex-ante measures of vulnerability to poverty. However, the ex-post measures of poverty identify different households as poor. Our results show that 18 percent households experiencing MDP are not captured by the one-dimensional measure of MP. The important implication of this study is that the choice of measures does matter in ex-post poverty identification, but not as much in the identification of ex-ante vulnerability to poverty. [ABSTRACT FROM AUTHOR]

Purpose This paper aims to look at the sustainability practices adopted by the Pakistani hotel industry. Sustainability is a relatively under-researched notion from the perspective of the developing world, and in particular, the research lacks evidence from the Pakistani hotel industry.Design/methodology/approach The authors follow an exploratory multiple case study design to study the sustainability practices adopted by the Pakistani hotel industry. Semi-structured interviews are conducted with the senior hotel managers.Findings The results suggest that sustainability is only partially integrated into the business strategy for most of the sample hotels, and a systematic approach to sustainability is currently lacking. Overall, the central focus of the hotels is on developing commercial performance, whereas some fragmented social and environmental sustainability initiatives are implemented on an ad hoc basis.Practical implications This study identifies some practical issues and challenges in relation to sustainability implementation in the Pakistani context. It is suggested that the government, community organizations and the private sector firms need to actively collaborate to promote the sustainability agenda.Originality/value This paper extends the extant literature by exploring sustainability implementation in the Pakistani hotel industry. While there is limited sustainability research in the context of the developing world, this study contributes by bridging this gap in the present literature. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is two folds: first, to analyze the long-run relationship between terrorism and key macroeconomic indicators (GDP growth, GDP per capita, inflation and unemployment) and second, to determine the direction of causality between these variables in Pakistan. Design/methodology/approach – The relationship between terrorism and various macroeconomic indicators is analyzed by applying Johansen cointegration analysis. Furthermore, the causality between terrorism and macroeconomic indicators is tested by applying Toda Yamamoto Granger causality test. Findings – The results show that there exists a long-run relationship between terrorism and key macroeconomic indicators. Furthermore, the results suggest that there exists a bi-directional causality between terrorism and inflation. The causality between GDP per capita, unemployment, GDP growth and terrorism is unidirectional. Originality/value – There is a lack of research work conducted to analyze the long-run relationship and direction of causation between terrorism and various macroeconomic indicators specifically for Pakistan. The current paper fills the gap in the literature by using sophisticated econometric techniques and recent data set to provide the evidence of the relationship between terrorism and various macroeconomic indicators. [ABSTRACT FROM AUTHOR]

In the current age of Globalization, where economies and democracies are extremely progressive, some states have still a flawed system of governance. Unfortunately, the state of Pakistan is one among these countries facing multifaceted and multilayered challenges. Due to the reason governance has become an enigma. Apart from the issues of governance, security and stability weak economy is also the outcome. This paper is an attempt to highlight the economic challenges in Pakistan and to develop a framework for efficient governance with stable institutions where actual spirit of democracy should be realized that lies in decentralization of power. It has also explained that states with weak political and economic institutions do not provide stable and suitable environment for sustainable development. The paper emphasized on the changing role of state, to act as a linking pin of processes of planning, consultation, negotiation and decision making involving diverse players. The methodology is qualitative in combination with explanatory and critical research strategies. This research combination will helpful to identify the social, political and economic variables. It is also helpful to build a structure, used to explain a phenomenon and to predict future behavior. [ABSTRACT FROM AUTHOR]

This paper examines the role of social protection through different channels (education, health, social transfers, subsidies, etc.) which are helpful in reducing poverty in Pakistan. Unlike the existing literature, the paper considers the quantitative model of social protection policies to reduce the poverty. To handle this issue, a time series data set containing thirty-one observations, is used for the period 1982–2012. An Autoregressive distributed lag model (ARDL) is used to identify the long-run, as well as the short-term relationship between the social protection indicators and the poverty. It is concluded that outreach of social protection via expenditures on education, foreign aid and zakat play a significant role in poverty reduction. Moreover, the autocratic period has proved itself a mechanism to reduce poverty by social protection provisions as compared to the democratic period but remain insignificant. [ABSTRACT FROM AUTHOR]

Purpose – This study is an attempt to examine the role of sub categories of government expenditures under democratic and military regimes in Pakistan for the period of 1972-2009. Design/methodology/approach – This study exercised autoregressive distributed lag (ARDL) model. Findings – The results show that contractionary fiscal expansion occurs in Pakistan. Moreover, the coefficient of development expenditure positively affects economic growth. It supports the public capital hypothesis that states that public and private investments are complements to each other. The results also show that current expenditure does not contribute to economic growth. Practical implications – The study recommends that for the purpose of macroeconomic stability, government should reduce its unproductive expenditure and should enhance its resource mobilization. Originality/value – This study is an attempt to examine the dynamic relationship between the composition of government expenditures and economic growth for Pakistan over the period of 1972-2009. The work is different from already existing literature in Pakistan. The authors' investigated the impact of different categories of government expenditures on economic growth, which has not been studied previously. Moreover, this study included a set of control variables by performing sensitivity analysis which is a significant contribution to the existing literature. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to investigate the relationship between income inequality and economic growth, both in linear and non-linear specifications. Design/methodology/approach - The paper has employed annual time series data over the period of 1971 up to 2005. Autoregressive distributed lag model (ARDL) bounds testing approach has been used for cointegration and error correction model for short run behavior. Unit root problem is handled by the use of augmented Dickey-Fuller unit root test. Findings - The analysis findings are sharply contrasted to the significant association between income inequality and economic growth found in 1994 by Alesina and Roderick and by Persson and Tabellini. The empirical evidence provides support for the existence of Kuznets inverted-U as well as inverted S-shaped curve in Pakistan. Practical implications - This paper opens up new directions for policy-making authorities to equalize income distribution in the case of a small transition economy like Pakistan. Originality/value - This paper convincingly argues that there is a need for case-by-case study on such a project in view of each country's unique characteristics. This paper makes a unique contribution to the literature with reference to Pakistan, being a pioneering attempt that employs ARDL cointegration approach. [ABSTRACT FROM AUTHOR]

Copyright of Environment & Urbanization is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

China–Pakistan Economic Corridor (CPEC), a key artery of China's Belt and Road Initiative (BRI), has attracted the attention of researchers and policymakers within and outside Pakistan. A blend of investment-loan-grant model of over US$ 46 billion, CPEC contains projects aimed at building energy and communication infrastructure and industrial zones. Based on the analysis of primary and secondary data, this study aims to answer two questions: first, what are the main socio-economic or geostrategic prospects of CPEC for Pakistan and China? Second, are there any constraints and challenges in the implementation of CPEC projects and how are these going to be addressed? The paper examines CPEC's potential in bringing about socio-economic development in Pakistan and its financial and geostrategic significance for China. It also explores key constraints related to the fragile security situation and the potential of CPEC to further exacerbate the geopolitical situation in the region, particularly in South Asia, where it could intensify tension between Pakistan and India as the latter perceives CPEC as a Chinese geopolitical and security project. In addition, the long-term financial implications of CPEC are assessed, with particular focus on its potential to become a debt trap for Pakistan in the long run. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editor discusses various reports within the issue on topics including the effect of strategic leadership on Pakistan's telecommunication industry, the relationship between globalization and economics, and the impact of supportive leadership culture.

The paper is an attempt to empirically analyze the drivers of emigration of highlyqualified and highly-skilled manpower from Pakistan to 27 destination countries over the past 36 years. The econometric model employed is a bipolar specification of augmented gravity model, which is hybrid of pull-push factors of migration models and gravity model of migration. Then study constructs indices to measure drivers of brain-drain through the technique of principal component analysis. These indices are then used to analyze their potential role in the process of migration. The study finds that the main factors contributing to migration from Pakistan include the pull factors like better socioeconomic conditions in the destination countries and push factors associated with demographic and labor market condition in Pakistan. Thus the empirical findings support the underlying demand and supply based theories of migration. Based on the findings of the study and keeping in view the importance of remittances that Pakistan receives from overseas Pakistanis, the study concludes that in an over-populated country like Pakistan, unplanned brain-drain needs to be re-oriented to take the form of planned brain-export. [ABSTRACT FROM AUTHOR]

This paper identifies and highlights the role and importance of e-learning in the national development of Pakistan. Paper delves on the conceptual framework of e-learning, cardinal aspects of national development, e-learning efficacy in South Asia in general and Pakistan in particular. The role of education in human resource (HR), in the hierarchy of national development has also been explained. After determining the significance of education in HRD, the fundamentals of e-learning have been elaborated and how e-learning can be used to bridge the digital divide and achieve national development. The essay also proffers some recommendations on the adoption of e-learning system in Pakistan. The empirical findings of this study are useful at national level for optimum utilization of e-learning techniques in human resource development programs. [ABSTRACT FROM AUTHOR]

This paper examines the impact of trade openness and foreign direct investment (FDI) on life expectancy using time series data over the period of 1972-2013. We have applied structural break unit root as well as cointegration tests to examine integrating properties of the variables and cointegration among the variables. The causal linkage between the variables has been tested by applying the VECM Granger causality. The empirical evidence confirms the presence of cointegration amid the variables. Moreover, trade openness and FDI increase population health measured by life expectancy in the long-run. Furthermore, the analysis suggests that trade openness and FDI cause life expectancy in the short-run. These findings have several policy implications to improve life expectancy for the people of Pakistan in particular and other developing countries in general. [ABSTRACT FROM AUTHOR]

We examine application of the Economics of Crime Monitoring Model (ECM-Model) Ruiz Estrada and Ndoma (J Policy Model 36:867-882, ) on Pakistan terrorism activities. The application of ECM-Model is used to evaluate the impact of terrorism on the economic performance of Pakistan economy. First part of the research work is related to introduction and background of study. The second section is associated with the theoretical and conceptual frame work that explains how terrorism affects the economy. The third part of the paper describes the methodology of the model. The fourth part of this research paper elaborates the results of the study. The second last part of the paper is the econometrics techniques and results which support the model and last part of the research work is conclusion and recommendations. [ABSTRACT FROM AUTHOR]

A significant number of studies indicate that economic prosperity promotes higher values such as democracy, equality and freedom of choice. Pakistan has witnessed a considerable increase in the size of the middle class contributing to the increased participation of women in the labour force. This increase may translate into higher values among working women across income classes. This article draws on structured interviews (n = 350) with working women in the metropolis Lahore to investigate the extent their socioeconomic status is linked with self-expressive values. By using the ordinal logit model, this paper observes that significant differences exist in women's perceptions and values across income and education groups. This study confirms that women with higher income and education levels are more independent in their choices. They exercise more authority in their personal and public life. Results also confirm their considerable interest in the democratization process and diminishing involvement in religious practices relative to middle- and lower-income and education groups. JEL Classification: A13, F63 Z13, C30 [ABSTRACT FROM AUTHOR]

Copyright of Dilemas Contemporáneos: Educación, Política y Valores is the property of Dilemas Contemporaneos: Educacion, Politica y Valores and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper exploits individual-level data on self-reported financial situations and district-level information on terrorist attacks in Pakistan to examine how persistent exposure to terrorism affects subjective financial well-being. The study also explores the relationship between recurrent terrorist acts and an individual's perception of the financial well-being of other people in the community. Our model accounts for myriad influences of terrorism and financial statuses both at the individual and district levels. We find that terrorism adversely impacts subjective financial well-being. In particular, its negative effects on perceived personal financial conditions appear to be stronger for less-educated persons and those living in urban areas. [ABSTRACT FROM AUTHOR]

Purpose – Despite a growing literature on human resource management (HRM) in emerging economies, evidence from Pakistan is limited. There is scant information on both the human resource (HR) practices that indigenous workplaces adopt and their associations with HR-related outcomes. The purpose of this paper is to fill that gap by examining whether universalistic assumptions about the applicability of “high-performance” HR practices are valid in Pakistan, a country with religious values and organizational traditions that differ to those in the west. Design/methodology/approach – This study draws on the, to date, most comprehensive survey of indigenous establishments in Pakistan. The authors use logistic regressions to analyze the data. Findings – Workplaces, in general, adopt several “high-performance” HR practices, such as extensive training, career breaks, rigorous pre-employment candidate assessment, and the sharing of strategic information with employees. Attitude surveys and the provision of training in a variety of jobs to non-managerial employees are consistently associated with better HR-related outcomes (absenteeism, quit rates, and labour productivity). Overall, the paper finds some limited support for the applicability and efficacy of high-performance HRM practices in Pakistan. Such practices conform to Islamic principles. The results also indicate, however, that cultural traits play a role in how those practices are implemented. Social implications – Increased adoption of certain HR practices by establishments in Pakistan may help to improve the working conditions and employment prospects of employees and may also ameliorate the country’s sluggish economic growth rates. Originality/value – HRM in Pakistani establishments has received relatively scant attention. Existing research either focuses on a relatively small number of firms, assesses HR in MNC subsidiaries, or examines a limited range of HR practices. Understanding the HR practices that are (and are not) adopted and their associations with performance outcomes will not just enhance the knowledge of HR in emerging economies, but will also provide insights into how to improve establishment performance and economic growth rates. [ABSTRACT FROM AUTHOR]

The impact of inflation is very devastating on the economy of a country. The inflation can be both through increases in the prices as well as through unsure increase in prices. This research paper interrogates the effect of Pakistan fiscal policy over inflation. This paper also focused on investigating the growth rate of government expenditure, taxes, budget deficit, GDP, employment rate and interest rate and its relationship with the inflation rate. For analyzing the data for the period of 1980-2014 various techniques such as Multiple Regression, Ramsey RESET test, ARCH test, the ADF unit root test and white test are utilized. In case if there is 1% increase in the growth rate of government expenditure, growth rate of GDP, interest rate and employment rate then they result in 0.1537, 0.1144, 1.2842 and 3.6592 Percent increase in inflation rate respectively. This research paper concluded that four independent variables (growth rate of government expenditure, growth rate of GDP, interest rate and employment rate) are significant while the remaining two independent variables (growth rate of taxes and budget deficit) are insignificant. So, the impact of fiscal policy is great over inflation. [ABSTRACT FROM AUTHOR]

In finance, capital structure is the combination of debt and equity, that how a firm finances its overall operations and growth needs by using different sources of funds. In this paper, researchers intend to identify the determinants for optimum level capital structuring in cement sector of Pakistan listed in Karachi Stock Exchange. The researchers identified that growth, size of the firm, profitability, and tangibility of assets has an effect on leverage of the firm. For this purpose 12 firms out of 20 firms listed in Karachi Stock Exchange (KSE) has been selected and data from 2006 till 20111 has been analyzed using Regression, Correlation and ANOVA to examine the determinants of capital structuring in cement sector. The results showed that all the factors have positive relationship with leverage in a firm. This study will help organization to analyze their capital structuring needs on the basis of debts and equity. Furthermore, it will increase the knowledge base of students, researchers and managers related to capital structuring. [ABSTRACT FROM AUTHOR]

Core inflation leads to erosion of purchasing power and distorts income distribution in favour of the rich and the creditors. Further, it aggravates poverty due to its regressive effect. By targeting core inflation, the Central Bank attempts to reduce poverty and improve income distribution. The Central Bank does and should target core inflation for the aforementioned objectives, hence it becomes necessary to identify if factors apart from monetary policy affect core inflation. This paper aims to identify the determinants of core inflation in Pakistan. This study is motivated by the lack of work done in identifying the determinants of core inflation in Pakistan. Using OLS analysis, we find that adaptive expectations, loans to private sector, real GDP growth rate and exchange rate all impact core inflation. Adaptive expectations are the largest contributor to core inflation. [ABSTRACT FROM AUTHOR]

This paper deals with empirical facts regarding political institutions, growth and development in Pakistan from 2008 to 2013. There are two aims of this study, first to understand the nature of political institutions in Pakistan and second their impact on socio-political and economic growth that lead to development. Institution may be defined as a mechanism, organization, body, or company where people work collectively for any constructive objective that could lead the country as a whole towards development. It is very difficult to provide any definition for the understanding of political institutions. For the paper we can define, Political institutions are institutions that seek authority through legitimacy, enforce laws, and punish the transgressor. It includes political parties, legislature, executive and judiciary. After having sensible political institutions one can think about growth, that is an evolutionary process for change. The change is development. Therefore, Pakistan is one of the countries in the world where so-called political institutions are working for the growth and development of few individuals, few families, few media channels and few religious groups. Although it has been everywhere in the world but intensity of pragmatism makes the political institutions fruitful. It follows with growth and development with same intensity. Thus, Pakistan needs realistic political institutions that believe in the growth of a common person and development of the whole. Individualistic and holistic theories are used for understanding the whole phenomenon. [ABSTRACT FROM AUTHOR]

This paper has analyzed the fiscal imbalances, poverty and inequality with relevance to Pakistan. We use time series data from 1981 to 2010 and employ Autoregressive Distributed Lag Model (ARDL) to cointegration for estimation. The empirical findings suggest that fiscal deficits increase the poverty level and provide biases for inequality. Since deficit is financed through money supply, government debt and indirect taxes which threaten the purchasing power of the poor and drag them towards poverty. Indeed most of government spending is misallocated due corruption and weak institutions; consequently money accumulates in few hands which wider gap between rich and poor, hence generates inequality. [ABSTRACT FROM AUTHOR]

Energy is the driving force of the country's economic growth. Pakistan, the land of sufficient renewable energy resources, has been suffering the worst energy crisis since the last decade. The electrical power sector of Pakistan has become non-resilient due to non-simultaneously up-gradation of the power sector, population explosion, growing urbanization, rising water disputes with India and Afghanistan, climate change and fear of rising oil prices due to prevailing geopolitical scenarios in the Middle East. After the development of the idea of securitization of economic policies by the USA and China, future wars lie on economic fronts which cannot be won without strong economic growth, that is dependent on sufficient energy supply to each segment of life. A brief interlinkage between national security and energy crisis has been presented in this paper. Multifaceted reasons behind these energy crises are evaluated by conducting its STEEPLE analysis (which stands for social, technical, economic, environmental, political, legal, and ethical). At the same time, multi-domains oriented potential solutions to curb down the different causes of energy crisis in Pakistan are presented, which will make the power sector of Pakistan resilient enough to stand with changing climate change conditions and geopolitical scenarios. [ABSTRACT FROM AUTHOR]

While conventional bank risk management practices are well documented in the literature, there is limited research devoted at comparing the risk management practices of Islamic and conventional banks and how the recent financial crisis affected the approach taken in each banking model to manage the risks. In this paper, we use self-administered questionnaire to collect data from 150 bank senior managers and risk specialists from Pakistani conventional and Islamic banks to identify the main contributing factors to their risk management practices after the 2007-2008 financial crisis. The study results reveal that risk identification, risk assessment and analysis, credit risk analysis and risk governance are the most efficient and influential variables in explaining the risk management practices of Islamic banks, while understanding risk management, credit risk analysis and risk governance are the most significant and contributing variables in the risk management practices of conventional banks. Differences are also observed between Islamic and conventional banks in their liquidity risk analysis and risk governance. The results presented in this study are likely to benefit bank managers, investors, regulators and policymakers as they will serve them as guide when developing, reformulating and overseeing the bank(s) existing risk management practices. [ABSTRACT FROM AUTHOR]

Wheat is one of the most commonly consumed foods on the Indian subcontinent, especially in Pakistan. It is difficult to find literature regarding wheat consumption forecasting, although some researchers have already focused on wheat production forecasting. Time-series modeling has been adopted with only historical data on wheat, while several influential factors have been neglected. This paper proposes that historical consumption data cannot provide complete information and lacks the power to forecast future values accurately; thus, a simple but powerful model is derived that includes economic and social factors. The proposed model is also compared with conventional approaches, demonstrating its ability to capture highly efficient and accurate forecasts. [ABSTRACT FROM AUTHOR]

As a review of the current political and economic situation in Pakistan, this paper aims to discuss the contextual issues which have affected the human resources management (HRM) practices of Pakistani or- ganizations. Firstly, it outlines some historical backgrounds that have influenced management practices in Pakistan. Secondly, it analyzes the current turbulent political and economic conditions within the country. Thirdly, it discusses specific cultural and social values, in which the management practices in Pakistan are likely to be embedded. Moreover, this study discovers the implication of these contextual factors to HRM among Pakistani organizations. It concludes that Pakistani organizations can only be managed effectively to some extent through the crossbreed management style due to the uncertain domestic environment, as has been exhibited in other developing countries in the context of global business and foreign investment. [ABSTRACT FROM AUTHOR]

In the present world the bitter fact is that mostly people are living in poverty especially in the developing countries. This paper presents some effective policies and strategies for the rehabilitation of poor inhabitants of developing world. The development and prosperity of developing countries depends on the economic condition of their inhabitants. In developing countries, mostly people are engaged with agricultural sector or with labor sector. Due to their low incomes, per capita of developing countries remain low. But by following some strategies and policies this condition may be changed. Furthermore, export of costly products is also hindrances in the way of achieving progress for developing countries. By solving brain drain, lessening their industrial imports and increasing their exports of industrial goods and increasing literacy rate are some suitable strategies discussed. But despite of all policies and strategies, the infrastructure and increasing literacy among the inhabitants of developing countries and the under developed world are also crucial for improving their per capita income and the standard of living. Without improving the standard of living of the under developed world, crimes, diseases and other wrong deeds cannot be decreased until the problem of hunger and ignorance is not solved. [ABSTRACT FROM AUTHOR]

This paper analyzes the profitability of insurance industry in Pakistan over the period from 2010 to 2013 by using multivariate regression analysis which was two in number. The constituent of the micro-meter analysis explore the idea about insurance industry for profitability. The Gearing ratio, NPLs ratio and asset management are originate to have significant impact on the profitability of insurance industry in both models. The size of the insurance companies is a significant meter for profitability. Return on assets is utilized to measuring insurance industry profitability. ROA was insignificant relationship and using a proxy to gauge the profitability of insurance industry. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between exports and GDP in Pakistan using, annual data collected from 1976 to 2011. Co integration and Granger causality test were employed in the empirical analysis, using Augmented Dickey Fuller stationarity test, the variable proved to be integrated of the order one (1) at first difference. The paper is based on the following hypotheses for testing the co -integration and causality between GDP and export as to whether there is short run causality between GDP and export or whether there exists a long run association hip between GDP and Export The co integration test indicating an existence of long run equilibrium relationship between the two as confirmed by the Johansen cointegration test results. The ECM estimates gave evidence that there is SR causality coming from GDP to Export. Our findings indicate that there is unidirectional causality from GDP to exports in Pakistan but not vice versa [ABSTRACT FROM AUTHOR]

Export price competitiveness assessment is a vital component in evaluating a country's macroeconomic performance and sustainability of its policies. It is generally argued that exchange rate depreciation stimulates exports and curtails imports, while exchange rate appreciation harms exports and stimulates imports. At times favourable factors (such as currency depreciation), however, may not result into increased exports because exchange rate movements affect exports not only by means of its depreciation but also through its variability (risk). In this paper, the above prediction has been assessed by considering the co-existence of import content in production of exportables and dynamic productivity gains. Results show that in the manufacturing sector of Pakistan, the exchange rate volatility partially offset the positive effect of depreciation on exports, that is, volatility in exchange rate has resulted into a decrease in export price competitiveness despite currency depreciation and, hence, the country experienced a slow growth in manufactured exports. [ABSTRACT FROM PUBLISHER]

Foreign direct investment and remittances play an important role in the economic growth of a country by bringing the latest technology, promising better infrastructure, providing foreign capital and generating employment opportunities. The policy environment, macro-economic stability, a sound domestic financial system, good law and order conditions and the availability of cheap energy and skilled manpower are all assumed to be some of the important pre-conditions for foreign direct investment. Remittances, being a reliable alternate source of capital, serve the country well in distressed economic situations. The present study is designed to explore the role of foreign direct investment and remittances on the economic growth of Pakistan by using the Engle Granger Cointegration method. Empirical results suggest that there is a long run relationship between the dependent and independent variables included in the model. Remittances and gross fixed capital formation variables have a positive impact on economic growth in the longrun. However, foreign direct investment has a negative effect on the growth because pre-requisites are missing in Pakistan. Result suggests that there is disequilibrium among the variables in the short-run. The disequilibrium that occurs in the previous time period is very rapidly adjusted in the current time period. Improving conditions for attracting foreign direct investment could further increase economic growth in the country. [ABSTRACT FROM AUTHOR]

This special issue of Contemporary South Asia celebrates 20 years of the annual Pakistan Workshop held in the Lake District of England. This event, the primary raison d'être for the Pakistan Studies Group, has consistently provided a forum for researchers of Pakistan, the Pakistani Diaspora, and Muslim groups of other South Asian countries to meet and exchange ideas. The main impetus for the Workshop has always come from anthropologists, but representatives from other disciplines have been an integral part of what makes it both successful and worthwhile. This issue brings together some important papers on Pakistan and the Pakistani Diaspora from recent participants in the Workshop. One of the dominant themes that emerge from this collection is that Pakistan is complex, and defies simple categorisation. The country is conservative and traditional while being modern and progressive. It is a wealthy nation in some ways, although it is impossible to deny its overwhelming poverty. There are horrendous acts of violence in a country that is by and large very peaceful. This is not to say that there are not clear patterns that emerge, nor that it is impossible to make any generalisations about Pakistan. However, this issue does suggest that a crude superficial characterisation of Pakistan, at best, is probably unhelpful. Hence the need for edited volumes, monographs, and articles that address Pakistan's diversity and vibrancy, and situate the country appropriately within its role in the wider world stage. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to establish the key role of power and legitimacy attributes in effective community participation in post-disaster reconstruction (PDR) projects. Design/methodology/approach – The research applies a qualitative research approach in conjunction with a case study method, using semi-structured interviews and purposive sampling techniques. The principal source of data were semi-structured interviews of affected community members and other stakeholders of a post-natural disaster reconstruction project initiated in the aftermath of 2005 devastating earthquake in Pakistan. The interviews were undertaken between October and December 2016. Findings – Participation of affected community is significant for the success of a PDR projects; however effective participation cannot be ensured without empowerment and legitimization. In context of post disaster reconstruction; both, power and legitimacy attributes have a direct effect on effective participation of the community. Originality/value – This paper has explored the relationship of stakeholder’s attributes with participation and have also proposed an attribute model for future PDR projects. Adoption of attribute model will enhance the chances of success of future PDR projects. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to provide empirical evidence that Sukuk are different from conventional bonds from risk perspective. This study is about the comparative risk analysis of Sukuk and conventional bonds in Pakistan.Design/methodology/approach Sample consists of 15 Sukuk and 30 Term Finance Certificates issued in Pakistan. Value at risk is deployed by using delta normal approach to calculate risk. Two portfolios are formed separately with equal investment of ₹3m to explore the maximum loss an investor would have in portfolio of Sukuk and conventional bonds separately.Findings Results revealed that Sukuk are less risky and more stable instrument as compared to conventional bonds. Risk and stability of Sukuk are explained with diversification theory and liquidity perspective. It is found that correlation among most of Sukuk securities are less or negative, which help in diversifying their risk. However, the attribute of stability can be due to the few days of trading in case of Sukuk comparatively.Originality/value Literature has explored the operational differences between conventional and Islamic bonds on theoretical basis. However, few studies explain their differences empirically especially with respect to risk in case of Pakistan where debt market is developing. Therefore, the originality of this research lies within its comparative investigation of risk for two securities that are different from their operational perspectives. [ABSTRACT FROM AUTHOR]

Purpose The extant literature has challenged the original idea that pure strategy leads to superior performance. This shift has raised the question whether pure strategy is still superior to hybrid strategy? The purpose of this paper is to investigate the strategy-performance relationship in this context and the performance of pure, hybrid, and reactor strategies is compared.Design/methodology/approach Scoring method is used for identification of strategic types. ANOVA, univariate, and multivariate regression models are applied for empirical analysis using seven-year financial data of 307 Pakistani joint stock firms from 12 industries.Findings The results show that firms in Pakistan practice hybrid and reactor strategies rather than pure strategies. Overall, defending and analyzing strategies perform better than the prospecting strategies. However, the performance of the strategic types varies among industries and firm size. Strategy and firm size are the better predictors of firm performance.Originality/value The proposed methodology can be replicated to identify strategic groups and strategic orientations proposed by typological classifications when longitudinal studies are carried out. The process for identification of pure, hybrid, flexible, consistent, and reactor strategies is a key contribution to the literature. [ABSTRACT FROM AUTHOR]