Vol. 2 No. 1 (2021)

Articles

• 9 Pages Download PDF: Human Capital Formation and Income Disparity in Developing Nations: A Panel Data Analyses

  Human Capital Formation and Income Disparity in Developing Nations: A Panel Data Analyses

  Mubashir Ishfaq, Muhammad Ahsan, Muhammad Yousaf

  https://doi.org/10.36923/jcmi.v2i1.465

  This study efforts to analyze the impact of human capital formation (HCF) on income disparity in developing nations. The panel dataset of 24 countries from the time period of 2003 to 2018 and panel ARDL is used to estimate the results. The outcomes shows that the variables inflation rate, government final consumption expenditures and exports of goods and services are positively while human capital index is negatively persuading the income disparity in developing nations. To rise HCF, government is to define options to expand education and research as well as to emphasize higher education. In doing that so, low income personnel can enjoy better life.

  pp. 1-9 Abstract views:190 Downloads:47

• 12 Pages Download PDF: Defense Expenditure, Foreign Aid and Economic Growth of Pakistan

  Defense Expenditure, Foreign Aid and Economic Growth of Pakistan

  Anum Fida, Shakeel Ahmad, Javed Hussain

  https://doi.org/10.36923/jcmi.v2i1.460

  This study is aimed to examine the impacts of defense expenditure and foreign aids on economic development of Pakistan by using time series type of data from 1972-2019.Data is collected from Word Development Indicator, economic survey of Pakistan and Word Bank, and some indexes are calculated by author. The multiple econometric techniques are applied as descriptive statistics, correlation and unit root test. Based on those results the regression technique of ARDL (Auto-Regressive-Distributed-Lag) is selected. The present study evaluates the foreign aid and defense expenditure relation with economic growth by the help of other control variables as the labor employment rate, gross fixed capital formation, health index, education index and political index. The conducted study concluded that defense expenditure and foreign aid has negative and significant impact on economic development of Pakistan in the long run while for the short run the defense expenditure influence positive but insignificantly and foreign aid has negative impact and insignificant outcome. From the policy perspective, the spare defense projects and corruption in the case of aid should be replaced by development projects, it may help to increase the economic growth of Pakistan.

  pp. 10-21 Abstract views:182 Downloads:45

• 16 Pages Download PDF: Social Overhead Capital and Poverty Alleviation: Panel Data Analysis in the SAARC Countries

  Social Overhead Capital and Poverty Alleviation: Panel Data Analysis in the SAARC Countries

  Rana Zafar Hayat, Shama Tahir, Shan-e-Zahra

  https://doi.org/10.36923/jcmi.v2i1.461

  The present study examines the impact of social overhead capital on reducing poverty in the SAARC countries. It is the poorest region in the world. However, it has the huge material resources that can be utilized to meet the challenges posed by poverty. The study incorporates the panel data for the year from 2000 to 2018 of eight countries of SAARC including Afghanistan, Bhutan, Bangladesh, India, Nepal, Sri-Lanka, Pakistan and Maldives. The study employs the fixed effect model to analyze the impact of infrastructure related variables on poverty. The results report that transportation, telecommunication sector and electricity access have negative impact on poverty. Moreover, gross domestic product, inflation rate are also contributing towards the reduction of poverty. Fertility rate is showing the positive association with the poverty.

  pp. 22-37 Abstract views:169 Downloads:59

• 9 Pages Download PDF: Tax Revenue, Development Spending and Economic Growth: A Case Study of Pakistan

  Tax Revenue, Development Spending and Economic Growth: A Case Study of Pakistan

  Khatiba Asmat Zahra, Muhammad Samar Abbas, Muhammad Aurmaghan

  https://doi.org/10.36923/jcmi.v2i1.462

  The main objective of our study is to investigate the impact of tax revenue and development spending on economic growth of Pakistan for estimation, annual time series data from 1972 to 2015 is used. Auto Regressive Distributed Lag (ARDL) bounds testing approach for co-integration is applied. The results show that development expenditures and tax revenue have significant and positive impact on economic growth. Based on the findings, the study recommends that government development expenditure and tax revenues should be increase, in order to stimulate activities in the economic sectors of Pakistan. Government should pay attention to enhance development expenditures for better growth as well as formulate the specific policies that attracts the investors. Pakistan should restructure its tax system like consistency in implementation, elimination of corruption in tax management, control on tax evasion and proper distribution of tax revenues for economic growth in the country.

  pp. 38-46 Abstract views:186 Downloads:50

• 11 Pages Download PDF: Role of Islamic Microfinance Towards Achievement of Sustainable Development Goals: An Empirical Study of Women Enterprises in South Punjab, Pakistan

  Role of Islamic Microfinance Towards Achievement of Sustainable Development Goals: An Empirical Study of Women Enterprises in South Punjab, Pakistan

  Shazia Nawaz, Sadia Bibi, Abdul Rahman

  https://doi.org/10.36923/jcmi.v2i1.463

  Globally, gender discrimination is the major problem faced by women, it’s important to empower women for uplifting their status as recognized by Sustainable Development Goals. Microfinance is playing an important role in economic development and as a policy tool that allows greater financial autonomy for women. Islamic Microfinance institutions (MFIs) have mostly attentiveness to women beneficiaries and to reduce their level of poverty and to improve social status. This study explored the impact of Islamic microfinancing and women’s empowerment. Data was collected through a questionnaire by using the purposive sampling technique, 265 women were clients of Islamic-MFIs Akhuwat in South Punjab, Pakistan. The correlation and regression analysis were employed to examine the relationship through SPSS and Smart PLS-4 software. The result indicates that Islamic microfinance and human capital are playing an important role to improve the decision-making, living standard, household condition, family wellbeing and social status of women. This study captures limited responses from respondents due to COVID-19 and further study can be extended by incorporating more dimensions of women empowerment with increasing the sample size to get more significant results. This research suggests to the government, education institutes, NGOs, and policymakers that they emphasize women's welfare through the provision of interest-free loans, human capital and encourage them to participate in economic activities.

  pp. 47-57 Abstract views:222 Downloads:52

• 9 Pages Download PDF: Fiscal Decentralization and Quality of Education in Pakistan

  Fiscal Decentralization and Quality of Education in Pakistan

  Naima Narmeen, Sheneela Altaf, Salva Usman

  https://doi.org/10.36923/jcmi.v2i1.464

  Fiscal decentralization is a process in which many organizations and segments are capable to grind effort thoroughly. It is government by which spending tasks and revenue duties are handed over to sub-national governments. Fiscal Decentralization is capable to influence how much portion of crucial management is headfirst to native government. The main objective of the present study is to explore the effect of expenditure decentralization and revenue decentralization on the quality of education. The secondary source of data is used in order to analyze the quality of education. The study concludes that the revenue decentralization is the most useful for raising the quality of education. This sort of study inspires contribution of people at lower level and improve the efficiency of people. So, government should increase more outlay for purpose of refining the structure of education.

  pp. 58-66 Abstract views:300 Downloads:83