Catalyzing the Impact of High Cost of Living on Demand and Supply of Textile Industry A Prospective of Emerging Economy

Humera Iram, Uzma Bashir, Sidra Gazali, Hira Idrees
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Abstract

The high cost of living is unrestful for all economic agents. The shocks in the cost of living badly affect emerging economies like Pakistan. This study provides a novel analysis of the impact of “different types of living costs” on the demand and supply of the textile industry of Pakistan. It used the Structural Vector Autoregressive (SVAR) model to analyze the impact of the shocks in cost of living on textile industry demand and supply using monthly data from July 2008 to June 2020. The study's findings suggest that rising energy, housing, clothing, and footwear cost weaken demand for the textile sector, mostly through lower purchasing power. While education costs diminish supply, food costs raise producer price index, and transportation costs have no effect. Our findings contribute to the body of knowledge and give vital information on which types of living costs affect the textile sector and which might lead to improvement. The study's findings aid in the establishment of strategies for the textile industry's long-term viability and development. Furthermore, the study provides a novel insight that not all sorts of costs are detrimental to the textile industry.
高生活成本对纺织业供需的催化作用——新兴经济体的展望
高昂的生活成本让所有经济主体都感到不安。生活成本的冲击严重影响了巴基斯坦等新兴经济体。本研究对“不同类型的生活成本”对巴基斯坦纺织业供需的影响进行了新颖的分析。利用2008年7月至2020年6月的月度数据,采用结构向量自回归(SVAR)模型分析了生活成本冲击对纺织行业需求和供应的影响。研究结果表明,能源、住房、服装和鞋类成本的上升削弱了对纺织行业的需求,主要是通过购买力的下降。教育成本减少了供给,食品成本提高了生产者价格指数,而运输成本没有影响。我们的发现为知识体系做出了贡献,并提供了重要的信息,说明哪些类型的生活成本会影响纺织行业,哪些可能会导致改善。研究结果有助于制定纺织工业的长期生存和发展战略。此外,该研究还提供了一个新颖的见解,即并非所有的成本都对纺织工业有害。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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