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• Open Access Article

  14 Pages Download PDF: Extending Okun's Law to encompass the governance-unemployment nexus: New Insights from PMG/ARDL Approach

  Extending Okun's Law to encompass the governance-unemployment nexus: New Insights from PMG/ARDL Approach

  Muhammad Umar Farooq, Abdul Majeed Nadeem, Qasim Ali

  2025-06-29 https://doi.org/10.36923/jcmi.v6i1.636

  This study has empirically aimed at estimating the short-and long-term dynamics of financial and institutional factors with respect to the unemployment rate in the case of the selected developing economies over the period of 1996-2023. The second-generation empirical analyses, such as cross-sectional dependence and unit-root analysis, support the use of pooled mean group regression analysis. The empirical outcomes of the pooled mean group regression have confirmed the existence of Okun’s law in the influence of a rise in control of corruption, government effectiveness, and political stability to reduce the unemployment rate in this region. Among the financial factors, the economic growth-unemployment rate nexus significantly validates the existence of Okun’s law. Further, the exchange rate is also highly significant in decreasing the unemployment rate in this region. However, the negative impact of the interest rate and the positive effect of broad money growth are surprisingly significant in affecting the unemployment rate and contradict the literature. Surprisingly, the institutional factors are more responsive to the unemployment rate compared with financial indicators. These outcomes suggest important policy implications regarding institutional and financial factors to control the unemployment rate in these economies

  pp. 68-81 Abstract views:187 Downloads:273

• Open Access Article

  15 Pages Download PDF: Analyzing the Impact of Income Inequality on Women Empowerment in Punjab, Pakistan

  Analyzing the Impact of Income Inequality on Women Empowerment in Punjab, Pakistan

  Misbah Bashir, Muhammad Umar Farooq, Abdul Majeed Nadeem

  2025-12-27 https://doi.org/10.36923/jcmi.v6i2.669

  The present study investigates the impact of income inequality on women’s empowerment in the districts of Punjab, Pakistan. Data on income inequality, women's empowerment, and other variables of interest are drawn from four waves of the Multiple Indicators Cluster Survey for the period 2008 to 2018. Three aspects, including education, health, and political participation of women, have been considered in the measurement of the women empowerment index. A fixed-effects approach is applied for the empirical evaluation of the data. The empirical outcomes show that a reduction in income inequality is significantly helpful in enhancing women’s empowerment across all districts.

  pp. 60-74 Abstract views:212 Downloads:109