GER - Global Economics Review

Contents Volume VI Issue II (Spring 2021)

FATF and Terror Financing: The Perspective of Pakistan
Abstract:	There is a plethora of international organizations that has been formed to maintain peace in the world. FATF is such an organization that has been formed in order to scrutinize and control the menace of money laundering and that of the terror financing. In a third world state like Pakistan where there is dearth of transparent mechanisms of money transfers and where there is no rule of law, it has become easy for the individuals to carry out the illicit activities like money laundering (Dube and Vargas, 2013). Pakistan has been in the grey list from the last few years and it has dramatically affected the economy of Pakistan. Pakistan has established a number of centralized mechanisms that are, without a doubt, on the correct track for monitoring the financial transaction system, ...Read More - Download PDF - View Fulltext
Author/s:	1-Shabnam Gul Assistant Professor/In-charge, Department of International Relations, Lahore College for Women University, Lahore, Punjab, Pakistan. 2-Muhammad Faizan Asghar MPhil, Peace & Counter Terrorism Studies, Minhaj University Lahore, Punjab, Pakistan. 3-Shujat Ali Ministry of Defense.
Keywords:	FATF, Terror Financing, Al Qaida, Money Laundering, Illicit Transfer, Hawala and Hundi
DOI Number:	10.31703/ger.2021(VI-II).01	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).01
Page Nos:	1-10	Volume & Issue:	VI-II
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Impact of Knowledge, Entrepreneurial Attitude, and Competencies on Entrepreneurial Motivation: A Study of College Students
Abstract:	This research aims to understand the main dynamics which enhance the entrepreneurial motivation among students of Faisalabad. The quantitative method explores the relationship between knowledge base, entrepreneurial attitudes, entrepreneurship competencies, and entrepreneurial motivation. A data of 150 respondents were collected from recognized universities of the Higher Education Commission (HEC) of Pakistan working in Faisalabad. The respondents were from banking and finance, commerce, marketing, business administration of public and private universities of Faisalabad. The Statistical Package for the Social Sciences (SPSS-21) analyzes the gathered data for descriptive analysis. The study revealed that the determinants of a knowledge base, entrepreneurial attitudes, and entrep ...Read More - Download PDF - View Fulltext
Author/s:	1-Aniqa Zubair Teaching Assistant, Department of Management Sciences, Government College Women University, Faisalabad, Punjab, Pakistan. 2-Rohma Yousaf Lecturer, Department of Management Sciences, Government College Women University, Faisalabad, Punjab, Pakistan. 3-Nausheen Syed Assistant Professor, Department of Management Sciences, Government College Women University, Faisalabad, Punjab, Pakistan.
Keywords:	Entrepreneurship, Entrepreneurial Motivation, Knowledgebase, Entrepreneurship Competencies, Entrepreneurial Attitudes
DOI Number:	10.31703/ger.2021(VI-II).02	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).02
Page Nos:	11-23	Volume & Issue:	VI-II
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Evaluating the Determinants and Sustainability of Public Debt for the South Asian Association for Regional Cooperation (SAARC) Countries
Abstract:	This study examines the sustainability and relationship of public debt to selected macroeconomic variables for South Asian Association of Regional Cooperation (SAARC) countries from 1996 to 2017. For the relationship of public debt to macroeconomic variables, we employ a panel Autoregressive Distributed Lagged (ARDL) model. For sustainability measurement of public debt, we used a theoretically derived model based on necessary and sufficient conditions. The panel ARDL results for the long run show that the savinginvestment gap and economic growth negatively while the budget deficit and current account positively explain public debt. The sustainability measurement results based on necessary and sufficient conditions reveal that public debt remains unsustainable for most of the ye ...Read More - Download PDF - View Fulltext
Author/s:	1-Ayaz khan PhD Scholar, Department of Economics, Abdul Wali Khan University Mardan, KP, Pakistan. 2-Zahoor ul Haq Professor, Department of Economics, Pakhtunkhwa Economic Policy Research Institute, Abdul Wali Khan University Mardan, KP, Pakistan. 3-Javed Iqbal Assistant Professor, Department of Economics, Pakhtunkhwa Economic Policy Research Institute, Abdul Wali Khan University Mardan, KP, Pakistan.
Keywords:	Public Debt, Macroeconomic Variables, Panel ARDL, Sustainability, SAARC Countries
DOI Number:	10.31703/ger.2021(VI-II).03	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).03
Page Nos:	24-40	Volume & Issue:	VI-II
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IPO Intra Industry Effects on Peer Firm's Earnings, Composition and Stock Returns
Abstract:	The present study is conducted to see how an IPO event affects the existing firm's performance within the same industry. For this purpose, 88 IPO firms were examined from Pakistan Stock Exchange (PSX) from 1998-2016. IPO is examined from three major perspectives IPO proceeds, initial returns and time Lag between IPO listing date and IPO subscription. The study uses Buy and Hold Abnormal Returns (BHAR) and Cumulative Abnormal Returns (CAR) to calculate competitor's abnormal returns. To calculate the operating performance of competitors, the Wilcoxon significance test was applied. IPO intra-industry effects are significant in the long run, whereas insignificant results are shown in the short run. In addition, IPO proceeds and abnormal returns are significant but negatively related to compet ...Read More - Download PDF - View Fulltext
Author/s:	1- Muhammad Irfan Khadim PhD Scholar, Bahria University Islamabad, Pakistan. 2- Samreen Fahim Babar Assistant Professor, Department of Management Sciences, Bahria University, Islamabad, Pakistan.
Keywords:	IPO Event, CAR, Time Lag, BHAR, HHI
DOI Number:	10.31703/ger.2021(VI-II).04	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).04
Page Nos:	41-48	Volume & Issue:	VI-II
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Impact of Exchange Rate Volatility on Unemployment in Pakistan
Abstract:	Unemployment is an alarming issue for bothdeveloped and developing countries, which sometimesvaries from region to region as well. Unemployment accompaniedwith Exchange Rate Volatility (ERV, hereafter) worsens thesituation. This paper tries to explore the relationship between ERVand unemployment and other selected factors in the case ofPakistan from 1980 to 2018. After necessary simulation, the studysupported the analyses through the autoregressive distributed lagmodel. Where, long-run coefficient reveals that ERV and exportsboth are positively affecting unemployment; whereas, import isinversely related to unemployment. Alternatively, export and GDPare inversely affecting unemployment in the short run; further,stability tests also support the relationship between the selectedvariables to a ...Read More - Download PDF - View Fulltext
Author/s:	1-Atiq Ur Rahman MPhil, Department of Economics, Bacha Khan University, Charsadda, KP, Pakistan. 2-Salyha Zulfiqar Ali Shah Assistant Professor, School of Economics, Bahauddin Zakariya University Multan, Punjab, Pakistan. 3-Qamar uz Zaman College of Economics and Management, Nanjing University of Aeronautics and Astronautics, China.
Keywords:	Exchange Rate Volatility, Unemployment, Economy of Pakistan
DOI Number:	10.31703/ger.2021(VI-II).05	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).05
Page Nos:	49-66	Volume & Issue:	VI-II
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Strategic and Economic Importance of Chabahar Port..
Abstract:	Due to China's engagement in the Gwadar Port,India has hastened the process of becoming ashareholder and stakeholder in Chabahar Port in order tocounter the Chinese threat. Chabahar is India's gateway toCentral and South Asia. It is Iran's intention to link and accessthese countries through the building of the Chabahar Port. Withthe expansion of these connections between South Asia andCentral Asia, West Asian countries and Europe via Chabahar,not only will Iran gain, but so will the nations of these regions.Iran will be able to play a key role as a result of these linkages,which will increase the strategic importance of Iran andChabahar. ...Read More - Download PDF - View Fulltext
Author/s:	1-Fakhr ul Munir Demonstrator, Department of Political Science, Abdul Wali Khan University Mardan, KP, Pakistan. 2-Shaukat khan Lecturer, Department of Political Science, Abdul Wali Khan University Mardan, KP, Pakistan. 3-Nelofer Ihsan Lecturer, Department of Political Science, Abdul Wali Khan University Mardan, KP, Pakistan.
Keywords:	Strategic, Engagement, Chabahar, Stakeholders, Gateway
DOI Number:	10.31703/ger.2021(VI-II).06	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).06
Page Nos:	67-74	Volume & Issue:	VI-II
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Road to Openness: Implications of Globalization for Education in Pakistan....
Abstract:	The current study discusses the implications of globalization for education in Pakistan. Time series data from 1980 to 2019 has been used. KOF Index of globalization has been used as a composite measure of globalization. This index is based on three aspects of globalization: economic, social, and political. For education, the study employed the annual data for the adult literacy rate. Other supporting variables are government expenditures, private consumption, and urban population. The long-run and short-run relationships have been determined by using Johan sen Co-integration and VECM, respectively. The empirical results unequivocally show the existence of co-integration, which confirms the presence of a long-run relationship in the model. The negative and significant value of the ECT (-1) ...Read More - Download PDF - View Fulltext
Author/s:	1-Muhammad Abdullah Assistant Professor, Department of Economics, University of Sahiwal, Sahiwal, Punjab, Pakistan. 2-Atif Ali Gill Lecturer, Department of Business Administration, University of Sahiwal, Sahiwal, Punjab, Pakistan 3-Ayza Shoukat Lecturer, Department of Economics, University of Sahiwal, Sahiwal, Punjab, Pakistan.
Keywords:	Globalization, Education, Government Expenditures, Time Series, Co-integration
DOI Number:	10.31703/ger.2021(VI-II).07	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).07
Page Nos:	75-86	Volume & Issue:	VI-II
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Empirical Analysis of Poverty Reduction and Governance in Pakistan: A Qualitativ..
Abstract:	Government stability, law, and order, internal conflict, government effectiveness, regulatory quality, quality of bureaucracy, corruption, external conflict,investment profile, military in politics, religious tensions, and ethnic are the key policy variables that are directly and strongly correlated with all strategies and measures to reduce poverty. And these are summarised in one terminology, i.e., 'Governance’. So,quality of governance is crucial to lessen hunger. However, this idea is not empirically tested, especially in the case of the sub-continent. First of all, this paper presents a statistical analysis of this phenomenon in the case of the sub-continent and then offers to make an econometric analysis of the link between political governance and strategies of poverty reduction i ...Read More - Download PDF - View Fulltext
Author/s:	1-Muhammad Shahid Assistant Professor/Head, Department of Economics, Government Graduate College Bhakkar, Punjab, Pakistan 2-Rana Khalid Mehmood Ph.D. Scholar, University of Punjab, Lahore, Punjab, Pakistan. 3-Muhammad Naeem Anjum Assistant Professor of Business Administration, University of Sargodha, Bhakkar Campus, Punjab, Pakistan.
Keywords:	Governance, Poverty, Co-integration, Stability of Econometric Model, ARDL Bound Test Approach
DOI Number:	10.31703/ger.2021(VI-II).08	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).08
Page Nos:	87–102	Volume & Issue:	VI-II
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Income Inequalities among Earners Engaged in Selected Occupations and Profession..
Abstract:	The current study investigates income in equalities among earners engaged in different occupations and professions in Pakistan using HIES data for 2010-11 and2015-16, focusing on their yearly income. Income equation and differences of income between subgroups of the population are estimated by using the OLS method. The generalized Entropy(GE) Class method is employed to evaluate the contribution of different subgroups of household characteristics and different in come sources in overall inequality. The regression-based decomposition method is used to assess decompose changes in income inequality by various socio-economic factors. OLS estimates conclude that all variables play a significant role in explaining the differences in income. All indices of GE method indicate that inequality withi ...Read More - Download PDF - View Fulltext
Author/s:	1-Rafit Saheed School of Public Policy, Pakistan Institute of Development Economics, Islamabad, Pakistan. 2-Nauman Ahmad Department of Econometrics and Statistics, Pakistan Institute of Development Economics, Islamabad, Pakistan. 3-Mirza Tahir Rahim Department of Economics, Allama Iqbal Open University, Islamabad, Pakistan.
Keywords:	Income Inequality; Occupations and Professions, HIES, OLS, GE, Decomposition Analysis
DOI Number:	10.31703/ger.2021(VI-II).09	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).09
Page Nos:	103-120	Volume & Issue:	VI-II
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Corporate Policy and Capital Structure Decisions: Empirical Evidence from Non- Financial Sectors of Pakistan
Abstract:	Capital structure is expressed as the mixture of long-term debt and equity that a company uses in its financing composition. The importance of long-term financing in any business cannot be misjudged because it identifies the choice of optimal financing mix for the long-run survival of the business. The basic purpose of this study is to identify the behavior of financing composition through main corporate financial decisions in the non-financial sector of Pakistan. Data has been taken for 52 non-financial companies for 2015-2020. Outcomes of the study have been retrieved through OLS, Fixed Effect, Random Effect Model and Housman Test by using Views software. The main corporate financial policies regarding leverage decisions include a firm’s profitability, earning volatility, firm size, no ...Read More - Download PDF - View Fulltext
Author/s:	1-Faiz Rasool Research Scholar, Institute of Business Management Sciences, University of Agriculture Faisalabad, Punjab, Pakistan. 2-Kashif Hamid Lecturer, Institute of Business Management Sciences, Faculty of Social Sciences, University of Agriculture, Faisalabad, Pakistan 3-Muhammad Yasir Saeed Visiting Lecturer, Institute of Business Management Sciences, University of Agriculture Faisalabad, Punjab, Pakistan
Keywords:	Corporate Policy, Capital Structure, Leverage, Earning Volatility
DOI Number:	10.31703/ger.2021(VI-II).10	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).10
Page Nos:	121-130	Volume & Issue:	VI-II
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Sustainable Growth and Profitability in the Pakistani Insurance Sector: An Intellectual Capital Perspective
Abstract:	In this new era of knowledge-based systems, financial institutions tend to improve as per performance standards using tangible and intangible resources. Intellectual capital (IC) gained much attention and in the recent past has encouraged the researchers to shed light on the connection of IC.The insurance companies plays a vital role in the financial system.This study investigates the impact of IC on the insurance sector's performance, i.e. sustainable growth (SGR), earnings and profitability, using value-added intellectual coefficient (VAIC) and modified value-added intellectual coefficient (MVAIC) methods. In addition, among all the IC elements, the study finds physical capital/capital employed (CE) and human capital (HC) most contributing factors in IC performance, whereas structural ca ...Read More - Download PDF - View Fulltext
Author/s:	1-Syed Muhamad Basit Raza Bukhari PhD, Management Science and Engineering, School of Management, Jiangsu University, Zhenjiang, China. 2-Muhammad Abubakar Shoaib Department of Economics and Finance, Lahore School of Economics, Lahore, Punjab, Pakistan. 3-Aemin Nasir PhD, Management Science, School of Business Management, University Utara Malaysia
Keywords:	Sustainable Growth, Earnings, Profitability, Intellectual Capital, Insurance Companies, Pakistan
DOI Number:	10.31703/ger.2021(VI-II).11	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).11
Page Nos:	131-148	Volume & Issue:	VI-II
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Investigating the Role of Economic Impediments in the Extent of Dropout of Females from Secondary Schools in District Bajaur, Khyber Pakhtunkhwa - Pakistan
Abstract:	The titled study is concerned with the dropout of females from secondary schools in District Bajaur due to the economic impediments of the study population. A sample size of 169 respondents was taken possessively by using Sekaran criteria. A cross-sectional study design was developed for the collection of data according to the conceptual framework showing the dependent variable (Nature of Drop out) and independent variable (Economic Impediments). Furthermore,Uni variate and Bi-variate analysis was conducted through the use of SPSS software. After the analysis of data at the Bi-variate level, a highly significant association (P=0.000) was found between the Nature of Drop out and economic indicators(statements) namely the most dominant cause of high drop out ratio was financial problems, mon ...Read More - Download PDF - View Fulltext
Author/s:	1-Hammad Zada M.Phil Scholar, Department of Rural Sociology, The University of Agriculture, Peshawar, KP, Pakistan 2-Saima Sarir Lecturer, Department of Rural Sociology, The University of Agriculture, Peshawar, KP, Pakistan. 3-Muhammad Jawad Lecturer, Department of Rural Sociology, The University of Agriculture, Peshawar, KP, Pakistan.
Keywords:	Cross-Sectional Study, Education, Economic Impediments, Female Students, Bajaur
DOI Number:	10.31703/ger.2021(VI-II).12	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).12
Page Nos:	149-159	Volume & Issue:	VI-II
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Financial Development and Economic Growth an Advanced Econometric Modeling Approach
Abstract:	Financial development is essential for economic growth for all economies. In the current study, we examine the importance of financial development on economic growth for different countries using advanced econometric techniques of model selection. We use Auto metrics, Elastic Net,and Extreme Bound Analysis to retain the variables that affect the economic growth by using the data (1980-2019) on 32 countries from different regions. We used an advanced approach (retention frequency) to investigate the relationship between financial development and economic growth. The results show that financial development is a significant retention frequency in the case of Asian, European, and American countries directly and indirectly. For in-sample forecasting, we use root mean square error (RMSE) and mea ...Read More - Download PDF - View Fulltext
Author/s:	1-Imran Khan Econometrician, Department of Economics and Econometrics, Pakistan Institute of Development Economics Islamabad, Pakistan 2-Atiq ur Rehman Associate Professor/Director, Kashmir Institute of Economics, Azad Jammu and Kashmir University, Muzaffarabad, Azad Kashmir, Pakistan. 3-Saud Ahmad Khan Assistant Professor, Department of Economics and Econometrics, Pakistan Institute of Development Economics Islamabad, Pakistan.
Keywords:	Financial Development, Economic Growth, Elastic Net, Autometrics, Extreme Bound Analysis
DOI Number:	10.31703/ger.2021(VI-II).13	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).13
Page Nos:	160-172	Volume & Issue:	VI-II
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Impact of Heads' Leadership and Team Management Competencies on Teachers' Job Satisfaction at University Level
Abstract:	This study is conducted to assess the impact of heads' leadership and team management competencies on teachers' job satisfaction at the university level. Mixed method research was used to conduct the study. Four universities of Rawalpindi and Islamabad were randomly chosen. Four deans of social sciences, 40 heads of social sciences, and 175 faculty members were chosen as the sample. Deans of social sciences were interviewed for qualitative aspects. Two questionnaires were developed, one for heads and the other for teachers for quantitative analysis. Statistical and descriptive evidence of the study concluded that heads' leadership and team management significantly contribute towards teachers’ job satisfaction level. ...Read More - Download PDF - View Fulltext
Author/s:	1-Nazir Haider Shah Assistant Professor, Department of Education, University of Kotli, AJ%K, Azad Jammu and Kashmir, Pakistan 2-Shabeena Shaheen Assistant Professor, Department of Education, Mohi-Ud-Din Islamic University Nerian Sharif, Azad Jammu and Kashmir, Pakistan 3-Saima Asghar PhD Scholar, Department of Education, Mohi-Ud-Din Islamic University Nerian Sharif, Azad Jammu and Kashmir, Pakistan.
Keywords:	Leadership Styles, Team Management Competencies, Job Satisfaction, Motivational Level, Creative Climate, Problem-solving
DOI Number:	10.31703/ger.2021(VI-II).14	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).14
Page Nos:	173 – 188	Volume & Issue:	VI-II
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Assessing the Impact of Hazara Motorway on Hotel Industry Growth in Hazara Region Under the China- Pakistan Economic Corridor, Khyber Pakhtunkhwa Province
Abstract:	This research work explores the influence of the CPEC on hotel industry progress in the Hazara region. Using a purposive simple random sample approach, the primary data was collected through questionnaire from 112 hotel managers/owners by addressing their responses to aspects related to the future hotel industry growth forecasts in the Hazara region under the CPEC. The technique used for the analysis of the study is logistic regression. The results show that hotel facility score, manager's awareness of CPEC, investment opportunities in hoteling industry under CPEC, the impact of the project seen in the region after initiating of project, and increase of tourist due to E-35 CPEC motorway are contributing to the growth of hoteling industry under the CPEC. The study concludes that it is expec ...Read More - Download PDF - View Fulltext
Author/s:	1-Rafit Saheed School of Public Policy, Pakistan Institute of Development Economics, Islamabad, Pakistan. 2-Armaghan Khan Department of Business Studies, Pakistan Institute of Development Economics, Islamabad, Pakistan. 3-Sumair Ahmad Research Associate, Ministry of Commerce, Islamabad, Pakistan.
Keywords:	Binary Logistic Model, CPEC, Hotel Industry Growth, Hazara Region
DOI Number:	10.31703/ger.2021(VI-II).15	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).15
Page Nos:	189-201	Volume & Issue:	VI-II
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An Anthropological Study of Religious Economies at the Shrine of Shah Rukn-e- Alam, Multan
Abstract:	Shrine is a place that has religious, cultural, and political significance, especially in Pakistani society. People visit shrines regularly and perform various religious rituals for the pilgrimage of Sufi saints and fulfillment of their needs. This paper analyses the economic underpinnings of various rituals practiced at the shrine of Shah Rukn-e-Alam, Multan. The interplay of religion and economy at shrines is a relatively under-discussed field of study. Drawing on my ethnographic fieldwork at the shrine of Shah Ruk-e-Alam, this study explores various ritualistic practices involving the exchange system, distribution, and reciprocity. For this research, I have focused on three groups of people who are involved in varied forms of exchange like reciprocity, redistribution, and market economy ...Read More - Download PDF - View Fulltext
Author/s:	1-Tayyaba Batool Tahir Assistant Professor of Anthropology, Bahauddin Zakariya University, Multan, Punjab, Pakistan.
Keywords:	Religious Economies, Shah Rukn-e-Alam, Shrine, Commodification of Religion
DOI Number:	10.31703/ger.2021(VI-II).16	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).16
Page Nos:	202 – 211	Volume & Issue:	VI-II
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Skill-biased Impact of Trade Liberalization on Employment in the manufacturing sector of Pakistan
Abstract:	This study explores the association between trade liberalization and skilled employment from 1990 to 2005. Our estimation approach analyzes how skilled employment is affected by the protection rate. Trade liberalization and skilled employment are associated.Liberalization has increased skilled employment in the manufacturing sector of Pakistan. The findings also indicated a significant link between skilled labor and lagged policy. The results are also robust after including the different trade-related variables. The policy insinuation is that the government should provide free education programs and technical packages in their economies to gain from the benefits of trade liberalization. ...Read More - Download PDF - View Fulltext
Author/s:	1-Jabbar Ul-Haq Assistant Professor, Department of Economics, University of Sargodha, Sargodha, Punjab, Pakistan. 2-Sana Khanum MPhil Scholar, Department of Economics, University of Sargodha, Sargodha, Punjab, Pakistan. 3-Kashif Imran Assistant Professor, Institute of Business Management, Karachi, Sindh, Pakistan.
Keywords:	Skilled Labor, Sectoral Study, Trade Liberalization, Pakistan
DOI Number:	10.31703/ger.2021(VI-II).17	DOI Link:	http://dx.doi.org/10.31703/ger.2021(VI-II).17
Page Nos:	212 – 226	Volume & Issue:	VI-II
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