Muhammad Zubair Khan, Z. Khan, Amina Khan, Akhtar Gul
{"title":"Unpacking Informality Dilemma in Private Equity Markets","authors":"Muhammad Zubair Khan, Z. Khan, Amina Khan, Akhtar Gul","doi":"10.34260/jaebs.723","DOIUrl":"https://doi.org/10.34260/jaebs.723","url":null,"abstract":"\u0000\u0000\u0000\u0000ABSTRACT\u0000Venture capital and private equity represent established asset categories utilized for funding formal entrepreneurial endeavors, often drawing investments from adept fund managers who typically refrain from engaging in informal ventures. However, it is not well investigated how informal economic activities impact resource allocation in private equity. In this paper, we analyze private equity data from 32 economies across Europe and the Asia Pacific region, spanning from 1996-2017. Utilizing a random effects estimation technique, we find that shadow economies have a strong negative impact on private equity investment and inhibit the positive effect of both stock markets and GDP per capita on private equity investment. This suggests that despite a thriving stock market for exit opportunities and favorable wealth conditions facilitating the supply side, economies witness constrained private equity investments due to the existence of informal sectors. This research makes a significant contribution to the cross-country private equity literature and offers valuable policy recommendations.\u0000\u0000\u0000\u0000","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123509578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Vulnerability of Food Security in the Presence of Deteriorating Exchange Rate Regime in Pakistan","authors":"I. U. Rahman, Wajahat Ali, N. Khattak, J. Khan","doi":"10.34260/jaebs.724","DOIUrl":"https://doi.org/10.34260/jaebs.724","url":null,"abstract":"This study aims to investigate the relationship between Food Security and Exchange Rate in Pakistan. The Augmented Dicky Fuller and Zivot Andrew tests of stationarity and the ARDL approach to cointegration have been used. The Gregory Hansen test of cointegration is applied to confirm the ARDL Bounds Test outcomes in the presence of Structural Breaks in the series. In Pakistan, the Exchange Rate has a significant deleterious influence on Food Security in the long run. For GDP growth, Arable Land and Agriculture Value Added, there is a significant positive long run association with Food Security. But, only Arable Land has a short run significant positive impact on food security in Pakistan. Therefore, amassed Arable Land is worthy for improving the food security situation both in the short and long runs. The flagging exchange rate in Pakistan is not advantageous for food security, as the country is a net importer.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114803491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rabiya Riaz, Muhammad Nasir Iqbal, Z. Khan, Muhammad Zubair Khan
{"title":"Natural Resources, Institutional Quality and Economic Growth: Evidence from South Asian Countries","authors":"Rabiya Riaz, Muhammad Nasir Iqbal, Z. Khan, Muhammad Zubair Khan","doi":"10.34260/jaebs.725","DOIUrl":"https://doi.org/10.34260/jaebs.725","url":null,"abstract":"The present research examines the correlation between natural resources, institutional quality, and economic growth in five nations in South Asia. To estimate the model, the study utilized the Fully Modified Ordinary Least Squares (FMOLS) estimation technique, analyzing data spanning from 2001 to 2020. The study reveals that natural resources exert a significant negative impact on growth while institutional quality wields a significant positive effect on economic growth. Additionally, labor and capital demonstrated a significant positive influence on economic growth. These outcomes have important implications for policymakers and decision-makers, urging them to consider the complex interplay of natural resources, institutional quality, labor, and capital in shaping economic growth strategies.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115391931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Improvisation, Training and Resources are Key for Decision Making in Unforeseen Situation: An Exploratory Study of Managers’ Decision-Making Process","authors":"Syed Bilal Shah, M. Gul, Zia Obaid","doi":"10.34260/jaebs.722","DOIUrl":"https://doi.org/10.34260/jaebs.722","url":null,"abstract":"\u0000\u0000\u0000\u0000ABSTRACT\u0000Decision making under exigencies and extreme circumstances are faced by almost all firms, businesses and individuals. Smart organizations have a backup and contingency plan that is crafted for if the original plan fails to deliver. The beauty of improvisation is that it enables one to act on the spot, without any homework. The purpose of the study is to know how employees, managers and decisions makers react to challenging situations when the routine plan does not work, what is their reaction to uncertainties and if they deviate from standard operating procedures, what cost do they pay for it. Decision makers from organizations with different functions, objectives and goals were investigated. Interviews were conducted with the decision-makers and employees of diverse organizations. The data shows that improvisation, training and resources affect decision making process in unexpected situations.\u0000\u0000\u0000\u0000","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127974627","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assessing the implications of farm advisory services of Model Farm Services Center from a Productivity Perspective","authors":"T. Shah, T. Muhammad, Neelam Akbar","doi":"10.34260/jaebs.721","DOIUrl":"https://doi.org/10.34260/jaebs.721","url":null,"abstract":"The aim of this study is to determine the role of Farm Advisory Services in order to offset the problems of the yield productivity gaps in the study area. The farmers’ perceptions of the Model Farm Services Center (MFSC) were statistically examined via a comparison of the differences within two subgroups. A sample size of 120 was selected in order to enable equal representation from both the member farmers and the independent farmers of the MFSC. An independent sample t-test along with a dummy variable was used to identify differences in their farming practices and obtained yield respectively. It was found that 80% of the respondents entirely relied on farming, whereas 20% only partially relied on farming. Similarly, 70% of the farmers were living in a joint familial system, while 30% of them were individual households. Furthers some of the farmers 28% used canals while only 13% relied on tube-wells from the member respondents, whereas 30% of the independent farmers relied on canals and 10% used tube wells. The independent farmers were more productive with wheat, rice, and sugarcane crops, but a lower yield with the maize crop was identified compared to the member farmers. The study concludes that there are inefficiencies and gaps in the service delivery value chain of the MFSCs and recommends actions, such as by providing basic farm inputs, modern equipment, interest free credit as well as technical guidance. The study contributes by using the farmers’ perceptions as a stepping stone for the policy input in regards to the agriculture laden productivity.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126568943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Dynamic Aggregation of Wages and Job Risk: A Case Study of Pakistan","authors":"M. Noman, Nooreen Mujahid, A. Fatima","doi":"10.34260/jaebs.716","DOIUrl":"https://doi.org/10.34260/jaebs.716","url":null,"abstract":"This study examines the relationship between job risk and wages in Pakistan using data on fatal and non-fatal occupational injuries. By employing the Hedonic Wage Function (HWF), the study estimates the Value of Statistical Life (VSL) for Pakistan. Additionally, the Autoregressive Distributed Lag (ARDL) and Error Correction Model (ECM) techniques are used to analyze the wage-risk nexus dynamics and estimate the VSL from 1990 to 2019. The results reveal a positive relationship between job risk and wages, suggesting that workers in Pakistan are compensated for the risks associated with their jobs. Furthermore, the VSL estimated in this study is higher than in previous studies, indicating that workers in Pakistan value their safety more and are willing to pay more to reduce their risk of occupational injury. These findings confirm the hypothesis of Compensating Wage Differential (CWD) for Pakistan and underscore the importance of developing efficient occupational safety and health systems to protect workers and promote economic growth.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128446355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Inflation and Unemployment on Income Inequality in Pakistan","authors":"Sumera Shabnum, Z. Malik","doi":"10.34260/jaebs.717","DOIUrl":"https://doi.org/10.34260/jaebs.717","url":null,"abstract":"Income Inequality is the main obstacle in eradicating poverty. This research calculates the estimated degree of income disparity in Pakistan through various techniques. It finds out the impact of macroeconomic factors like inflation, unemployment and GDP growth rate on the degree of income inequality using logit model on data from 1980 to 2020. Gini Index shows that income inequality is more for urban regions as compared to rural areas of Pakistan. Whereas among the provinces, Punjab is suffering the most from unfair distribution of income. The regression results show the significance of all selected variables toward income inequality in Pakistan. It shows that inflation and unemployment have negative impact on Gini index while GDP growth rate has a positive influence which is quite possible in a developing country like Pakistan lagging behind in industrialization and service provisions. The study helps in making certain policies to reduce income inequality.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128844669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determining the Impact of Foreign Direct Investment on Exports of Pakistan using ARDL Bounds Testing Approach","authors":"Waleed Mulk, Shakil Ahmad, T. Mahmood, I. Jan","doi":"10.34260/jaebs.714","DOIUrl":"https://doi.org/10.34260/jaebs.714","url":null,"abstract":"This study employed autoregressive distributed lag model (ARDL) approach to investigate how exports and foreign direct investment (FDI) are related in Pakistan for the period spanning from 1974 to 2019. For cointegration analysis, we used bounds test. The findings of the cointegration test indicated that the variables have a long-term cointegration relationship. According to estimated results, the relationship between the two variables is negligible over the long-run, whereas FDI has a positive influence on exports in the short-run. Moreover, the estimated error correction term is significant with the expected sign. It is concluded that FDI inflows are advantageous for improving manufacturing processes, which would eventually lead to high-quality exports and economic progress of Pakistan. Policymakers are required to make efforts to removing all hurdles in Pakistan's economic progress.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126761247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Syed Muhammad Ali Shah, Mansoor Ullah, Muhammad Aftab
{"title":"Export Diversification Potential and Structural Transformation in Pakistan: A Product Space Perspective","authors":"Syed Muhammad Ali Shah, Mansoor Ullah, Muhammad Aftab","doi":"10.34260/jaebs.715","DOIUrl":"https://doi.org/10.34260/jaebs.715","url":null,"abstract":"Structural transformation is characterized by successful industrialization with continued growth in both manufacturing and service industry. It creates lot of job opportunities by exploring unexploited industries that leads to sustainable economic growth and higher standard of living. Industrialization requires systematic and strong coordination mechanism geared with committed leadership. Industrialization in Pakistan has been partially successful and faced with many challenges. In this regard, product space analysis was conducted to thoroughly assess Pakistan’s opportunity space and challenges for future industrialization. To this end, various priority sectors were identified given their compatibility and proximity with Pakistan’s production capacity and finally an appropriate industrial policy is recommended for future course of industrialization. This study is greatly helpful for government policy makers to formulate feasible industrial policies in accordance with the productive capability of Pakistan, for potential investors and entrepreneurs to venture into potentially viable business opportunities and for academics to better understand the dynamics of industrialization.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129962273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Z. Khan, Muhammad Zubair Khan, Amin Ullah Khan, Muhammad Talal
{"title":"Foreign Debt, Exchange Rate, Inflation and Economic Growth: A Co-integration and Causality Analysis","authors":"Z. Khan, Muhammad Zubair Khan, Amin Ullah Khan, Muhammad Talal","doi":"10.34260/jaebs.712","DOIUrl":"https://doi.org/10.34260/jaebs.712","url":null,"abstract":"Pakistan is grappling with a significant debt crisis and seeking assistance from the IMF and allied nations to alleviate the situation. This has aroused the interest of the academic community to understand the intricacies of the debt trap and explore potential solutions. This study examines how foreign debt affects the economic growth of Pakistan by analyzing selected macroeconomic variables for the period 1990-2020. The results of dynamic autoregressive distributed lag models show that Pakistan's economic growth performance is significantly and adversely impacted by debt servicing and exchange rate fluctuations. From the Granger causality results, it is evident that there is a neither unidirectional nor bidirectional causal relationship between GDP and foreign debt. This rejects the notion of a direct relationship between the two, as proposed by previous studies. The study also finds that foreign debt negatively affects the economic performance of Pakistan’s economy via its effects on inflation, exchange rate and debt servicing. The paper offers useful policy recommendations.","PeriodicalId":300552,"journal":{"name":"Journal of Applied Economics and Business Studies","volume":"147 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128615210","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}