Global Economics Rview

Global Economics Rview

Basic info

  • Publisher: Humanity Publications
  • Country of publisher: pakistan
  • Date added to EuroPub: 2019/Nov/23

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  • Language of fulltext: english

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  • Article Processing Charges (APCs): Yes
  • Submission charges: No
  • Waiver policy for charges? No

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  • Open Access Statement: No
  • Year open access content began: 2016
  • Does the author retain unrestricted copyright? False
  • Does the author retain publishing rights? False

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This journal has '29' articles

Determinants of Agricultural Productivity: Empirical Evidence from Pakistan’s Economy

Determinants of Agricultural Productivity: Empirical Evidence from Pakistan’s Economy

Authors: Mehmood Kakar, Adiqa Kiani, Asia Baig
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Abstract

This article examines the determinants of the total productivity of the agriculture sector which enhances the total agricultural productivity in Pakistan and analyzes the relations among variables used for the analysis from 1990 - 2017. The application of the auto regressive distributed lag technique ARDL was used to approximate various determinants. The area under cultivation, fertilizer consumption, agriculture credit, and rainfall show a positive effect on agriculture productivity, whereas agriculture employment and pesticide consumption show a positive but statistically insignificant effect on agricultural productivity in the long run. While in the short-run all determinants have a positive and significant effect on total agriculture productivity convergence towards equilibrium is shown by error correction term is 0.829.

Keywords: Agriculture, Productivity, ARDL
Does Herding Exist? Evidence from Pakistan’s Stock Exchange

Does Herding Exist? Evidence from Pakistan’s Stock Exchange

Authors: Samreen Fahim Babar, Syeda Faizaq Urooj, Khalid Usman
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Abstract

Herding transpires when an investor imitates the decision of other stockholders or shadow market consensus (Rizzi, 2008). The Chartered Financial Analyst Institute affirms “Herding Behavior Bias” as the principal presumption influencing the investor’s decision. (Kunte, S.2015). Herding behavior contradicts the validity of an Efficient Market Hypothesis (Famma and Franch, 1970). The investigation of herd behavior in the Pakistan stock market is indispensable as the inconsistent behavior of stockholders stems from the inefficient assets pricing and resource misallocation. The study’s result affirms the existence of herd behavior in the stock exchange of Pakistan and contradicts rational assets pricing model and stock price efficiency theory.

Keywords: Herding Behavior, Stock Exchange, Investment Decision, Efficient Market, Asset Pricing.
The Analysis of Income Inequality and Economic Growth Relationship: Evidence from Pakistan’s Data

The Analysis of Income Inequality and Economic Growth Relationship: Evidence from Pakistan’s Data

Authors: Saleem Khan, Salman Azad Khan, Muhammad Tariq
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Abstract

This research gives a brief overview of Pakistan’s economic growth and income inequality, and empirically assesses the relationship between these two variables of the country over the period of 1990 – 2015. In the empirical part, our study employs the augmented ADF test and simple regression analysis. ADF test results depict that both variables of the model are stationary at the level and exhibit no unit root at the level. Further, in regression results, the coefficient estimates are significant and reveal an inverted U linkage between economic growth of the country and distribution of income. The income level of the country alone explains a significant part of the income inequality. Instead, the lagged dependent variable coefficient is significant and partly explains variation in inequality.

Keywords: Economic Growth, Income Inequality, ADF Test, Regression Analysis
Local Market Economics: Brand Analysis in the Market

Local Market Economics: Brand Analysis in the Market

Authors: Syed Raza Abbas, Muhammad Zia-ur Rehman, Salma Khan
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Abstract

The purpose of the study was to provide an overview of the present situation of the Colgate toothpaste brand in comparison with other brands on the market such as Forhans, Macleans, and others. The trust for the brand in the market provides an opportunity to examine different theoretical and practical propositions. In this research Customers segmental differences in the use of intrinsic and extrinsic product cues (physical quality, design, brand name, and price) on consumers evaluations and purchase intentions for an apparel product in Karachi market are investigated. Our findings revealed that design, brand, taste, flavor, performance, promotion were product attributes that impact product evaluations and marketing position. However, design, brand name, and performance were the main factors in attracting the customers.

Keywords: Economic Growth, Life Expectancy, Infant Mortality
Climate Change and Food Security in Pakistan: A Time Series Analysis

Climate Change and Food Security in Pakistan: A Time Series Analysis

Authors: Nasir Munir, Adiqa Kausar Kiani, Asia Baig
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Abstract

Climate change has a severe impact on the accessibility of various resources on earth. The present study determines the impact of climate change on food availability for 27 years from 1990-2016. An ARDL model is used in order to find out the long-run and short-run relationships. The result shows that average temperature shows a negative relationship with food security, as the temperature is increasing the food security is decreasing Food security has a positive relation with agriculture credit since as the agriculture credit increases it will increase the production of agriculture sector which in result increase the supply of food and increase the food security in the country. Fertilizer consumption also has a positive effect on food availability, which is obvious as more and more food is provided with the increased use of fertilizer.

Keywords: Temperature, Agriculture Credit, Food Production Index, Fertilizer Consumption
US’ Strategic Reorientation and Chinese Counter-Narrative: The Economic Reality of Asia-Pacific

US’ Strategic Reorientation and Chinese Counter-Narrative: The Economic Reality of Asia-Pacific

Authors: Hikmat Afridi, Manzoor Khan Afridi, Muhammad Bilal
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Abstract

The Concept of Asia-Pacific empowers the US to involve in all matters broadly related to Asia-Pacific. In a simple form, the Asia-Pacific region is encompassing West Coast of North America, Australia and major parts of Asia, having the potential to come up as a geopolitical driving force. Asia-Pacific, comprising 22 percent of world land, is one of the most significant regions that possess three well-known Economic Powers, i.e. the US, Japan, and China. Similarly, the region is to be found strategically at an intersection of Middle East, North America, East Asia, and Europe with worlds six largest ports and five highly important Sea Lanes of Communication for international trading. Having so much importance, Goldman Sachs confirms that hub of the global economic activities will be transferred to Asia-Pacific decisively by 2050. The study will analyze the very importance of Asia-Pacific, the US strategic reorientation and the Chinese counternarrative for the region.

Keywords: Asia-Pacific, Pakistan, US, India, CPEC, Southeast Asia
Organizational Reputation as Economic Strength: Role of Justice Perception and Empowerment

Organizational Reputation as Economic Strength: Role of Justice Perception and Empowerment

Authors: Zafar Iqbal, Muhammad Zia-ur Rehman, Noor Hassan
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Abstract

This study focuses on the examination of the impact of Justice Perception and Employee Empowerment on the Organizational Reputation in the projectized organizations (NGOs) in Pakistan. The role of Employee Perception on the relationships between Justice Perception and Organizational Reputation and Employee Empowerment and Organizational Reputation has also been studied. Non-Governmental Organizations (NGOs) working in Federally Administered Tribal Areas (FATA) and Frontier Regions (FR) of Pakistan were targeted, including the executives and managers of thirty Nongovernmental Organizations. The result revealed that justice perception has a positive and significant relationship with organizational reputation, and also employee empowerment has a positive and significant relationship with organizational reputation. It has also been confirmed that employee perception positively moderates the relationships between justice perception and organizational reputation and employee empowerment and organizational reputation.

Keywords: Non-Governmental Organization, Justice Perception, Employee Empowerment, Employee Perception, Frontier Regions, Temporary Displaced People, National Disaster Management Authority
The United Kingdom and Brexit: Implications, Consequences and Opportunities

The United Kingdom and Brexit: Implications, Consequences and Opportunities

Authors: Ilhamah Qiamy, Fahim Nawaz, Syed Umair Jalal
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Abstract

Presently, Brexit and its implications for the United Kingdom (UK), European Union and rest of the world, are regarded as major concerns across the globe. The present study is an attempt to estimate the shock that the UKs economy will likely receive as a consequence of Brexit. It also seeks to find an answer to the question whether costs incurred as a consequence of Brexit are repairable or otherwise for the UK. By applying a vector autoregressive (VAR) model on annual time series data of four important economic variables, i.e. gross domestic product (GDP), imports, exports and foreign direct investment, ranging from 1970-2016, an interdependence relation was found to hold among variables. The result concludes that through Brexit, the UKs economy will face some fluctuations which wont last any longer than 12 to 15 years. In return, it will grant UK sovereignty in the different vital segments of the country like economic policies and political decisions.

Keywords: Brexit, VAR, Shocks
Special Economic Zones: A Comparison of the Economic Policies of China and Pakistan

Special Economic Zones: A Comparison of the Economic Policies of China and Pakistan

Authors: Sohail Ahmad, Muhammad Shoaib Malik, Hajra Nasir Satti
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Abstract

China established Special Economic Zones (SEZs) in the late seventies and eighties which later became major drivers of their economic development. Now China is replicating the same phenomenon in Pakistan under CPEC. China, through the China Pakistan Economic Corridor (CPEC), the flagship project of One Belt One Road, has pledged to invest sixty-two (62) billion US dollars in Pakistan. The development of SEZs in Pakistan is divided into two phases. Phase one started in 2012, and the main focus in this phase was on Dhabeji, Rashakai Faisalabad. In phase two nine SEZs will be developed. If Pakistan successfully manages the SEZs it will shift the country towards industrialization in the long run and stabilize the Pakistani economy in the short run. However, many inconsistencies have originated due to Pakistans weak economic policies. This paper will provide a comparison between the SEZs in Pakistan and China, and how Pakistan can capitalize on the SEZs and pave the way for industrialization.

Keywords: Poverty, Protoindustrialization, Trade Deficit, Foreign Direct Investment, Import, Export, Economy.
Economic or Organisation Perspective?: Triangulation of Workplace Spirituality, Organisational Learning Capacity (OLC) and Organisational Trust

Economic or Organisation Perspective?: Triangulation of Workplace Spirituality, Organisational Learning Capacity (OLC) and Organisational Trust

Authors: Affaf Zahra, Muhammad Zia-ur Rehman, Asia Baig
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Abstract

The study examines the relationship between workplace spirituality, organizational learning capacity, and organizational trust. Within the organization, trust plays a significant role in establishing learning capacity. The study is crosssectional in nature with a simple random sampling technique. Information is gathered from Training/learning and OD staff of government and commercial banks operating in Pakistan via selfadministered questionnaires. Data were analyzed through “Structural Equation Modelling (SEM)” and through maximum probability and likelihood. Findings indicate that workplace spirituality had a substantial positive effect on organizational learning capacity and organizational trust acts as moderator. Hence, organizational trust also has a significant positive impact on the relationship between workplace spirituality and organizational learning capacity. Middle and upper-level Managers working in the bank, different industry associations, multiple In-house and Ex-house training providing firms, support functions and research institutions may utilize findings to bring major improvements in learning capacity mechanisms and employee behavior to enhance the overall adequacy of the associations.

Keywords: Organizational learning capacity, workplace spirituality, Organizational trust
The Role of Trade in Peace Promotion: Assessment of Pak-India Relationship

The Role of Trade in Peace Promotion: Assessment of Pak-India Relationship

Authors: Saima Gul, Syed Ali Shah, Muhammad Usman Ullah
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Abstract

The relationship between trade and peace has been debated by policymakers, academicians and the general public, often ending in contesting conclusions defining the exact role of trade in this complex relationship. While taking the case study of Pakistan and India, this argument becomes more central to understanding whether there is a possibility for the furtherance of trade relations between Pakistan and India. It is a perception that political and military tactics have always been active in deciding the relations between Pakistan and India. Hence, it is important to explore viable options, such as trade, for bringing positive change in relations. This article emphasizes that a liberal perspective may provide a better explanation of this relationship and concludes that trade possesses the capacity to play an active role in mollifying strained relations between Pakistan and India and begin an era of peace and harmony in the region.

Keywords: RTAs, WTO, MFN, SAFTA, NDMA
Due Economy is Based on Authenticity? Authentic Leader’s Personality and Employees’ Voice Behaviour

Due Economy is Based on Authenticity? Authentic Leader’s Personality and Employees’ Voice Behaviour

Authors: Muhammad Zia Rehman, Atiqa Shahbaz, Noor Hassan
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Abstract

The study examines the impact of authentic leader’s personality on employee voice behavior through a quantitative study. The results, from a sample of 200 subordinate–supervisor dyads from a healthcare organization in Pakistan, provide evidence of a positive relationship for leader authentic personality with direct reports’ ratings of the leaders’ authentic leadership. In addition, authentic leadership was found to influence subordinates’ voice behavior, as rated by subordinates’ immediate supervisors; notably, this relationship was partially mediated by the subordinates’ perceptions of OBSE. Furthermore, leader authentic personality was indirectly related to subordinates’ voice behaviour through the mediating influence of authentic leadership and, in turn, subordinates’ perceptions of Organization-based selfesteem. The findings of this study will make management understand the linkage of an authentic leader’s personality and employee voice behavior.

Keywords: Leader Authentic Personality, Authentic Leadership, Organization-Based Self-Esteem (OBSE), Employee Voice Behavior
CSRs Knowledge and Management of Corporate Social Responsibility in Pakistan

CSRs Knowledge and Management of Corporate Social Responsibility in Pakistan

Authors: Maqsood Hayat, Shehzad Khan, Asif Iqbal
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Abstract

The aim of the study is to collect first-hand information from the corporate practitioners regarding the “why” “how” “when” and “where” of corporate social responsibility (CSR hereafter) by conducting an interview session with the companies listed on the Pakistan Stock exchange. It was observed that the involvement in CSR is beneficial for firm performance and affected by external forces (institutional forces) and internal features (firms resources). In addition, the priority of stakeholders and the urgency of CSR dimensions (CSRs pyramid) are well understood in the context of Pakistan too.

Keywords: CSR, Corporate Environment, Pakistan, Institutional Forces, Firm’s Resources
Operations Strategy Practices of SMEs

Operations Strategy Practices of SMEs

Authors: Fazal Haleem, Muhammad Jehangir, Asia Baig
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Abstract

There is a close link between operations strategies and firm performance. Thus, it is paramount to find out what competitive priorities are adhered to by small and medium enterprises when it comes to operational decision making. The sample is drawn from 244 manufacturing small and medium enterprises (SMEs) operational in Khyber Pakhtunkhwa (KP), Pakistan. Consistent with the research objective, Exploratory Factor Analysis (EFA) is employed to reveal the preference of SMEs in adopting competitive priorities. The results show that the most preferred competitive priority is cost followed by quality and flexibility with delivery priority the least sought-after operations strategy. The paper adds value to a finer and richer understanding of operations strategies in SMEs context and provides insights to practitioners and managers to effectively enhance their firm performance by pursuing right operations strategies.

Keywords: Competitive strategies, SMEs, Pakistan
CPEC, A Game Changer but whose: An Economic Reality Check

CPEC, A Game Changer but whose: An Economic Reality Check

Authors: Muhammad Zia-ur Rehman, Yasmeen Muhammad Javed Iqbal, Muhammad Shoaib Malik
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Abstract

You will arrive at a destination after 10, 20 or 30 years from now, but where? Thats is the critical inquiry/question. And the answer could be of two-fold; a well-defined destination, or an ill-defined (chaotic) destination. Its obvious, that definitely everyone would like to arrive at a well-defined one. The same rule applies to the mega project of CPEC. No doubt, CPEC is a great and mega project with the volume greater than any project launched in Pakistan since 1947. It seems to benefit Pakistan and China from various perspectives, thats why its named as a game-changer but the point of concern is for whose. This question needs to be answered not only comprehensively but also partially especially by Pakistani side of leadership and strategists. This is essential for the future survival of Pakistan as a country and Pakistanis as a nation. The current research analyzes the grey areas of concern from the Pakistani perspective by putting the four factual checks; strategic, economic, cultural and security on the mega project of CPEC. The paper further, in detail presents a solution-oriented strategic point of view with appropriate recommendations to be adopted in order to cultivate the fruits of the project effectively and efficiently.

Keywords: CEPC, Strategic Viability, Economic Viability, Security Perspective, Challenges.

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