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Author: Rizwan Raheem Ahmed Publisher: GRIN Verlag ISBN: 3668078181 Category : Business & Economics Languages : en Pages : 78
Book Description
Master's Thesis from the year 2007 in the subject Economics - Finance, , course: Masters of Philosophy (M.Phil.), language: English, abstract: The purpose of the research is to examine the causal relationship between stock prices and the variables representing the real sector of the economy like read GDP, and real investment spending, in Pakistan. Researcher has used annual data from December 1980 to June 2007, to examine the stochastic properties of the variables, and has taken care of the expected shift in the series due to the start of the liberalization program in the early 1990s. State Bank General Price Index (SBGPI) with base 1980-81 is used for stock prices whereas for real variables GDP, and investment, at constant prices of 1980-81 were used. The descriptive statistics indicate a much higher expansion in stock prices relative to real variables. However, the stock prices also experienced much higher volatility during the sample period whereas the real variables seem to be stable. The correlation analysis shows low correlations between stock prices and real variables. However, there is evidence of significant increase in these correlations in the post reform period suggesting that these reforms resulted in significant improvement in the behavior of stock market and its linkages to the economy. In the formal investigation, the co-integration regressions indicate the presence of a long run relationship between stock prices and real variables. Regarding the cause and effect relationship the error correction model suggest a unidirectional causality from the real variables to stock prices implying that in Pakistan fluctuations in real sector cause changes in stock prices. The analysis does not verify the evidence of improvement in the linkages of stock market to the economy, which is indicated by the correlation analysis. These results have not changed by the incorporation of the expected shift in the variables resulting from the liberalization measures. The findings suggest that the stock market in Pakistan is still not that developed to play its due role in influencing the real sector of the economy. It can be implied, however, that the government can use the real sector to influence the stock market. An important implication of the findings is that the stock market in Pakistan cannot be characterized as the leading indicator of the economic activity. The study clearly indicates that it lags economic activity. It seems that the phenomenal growth in stock market variables like market capitalization, trading volume, the market index, etc. do not seem to influence the economy of Pakistan.
Author: Rizwan Raheem Ahmed Publisher: GRIN Verlag ISBN: 3668078181 Category : Business & Economics Languages : en Pages : 78
Book Description
Master's Thesis from the year 2007 in the subject Economics - Finance, , course: Masters of Philosophy (M.Phil.), language: English, abstract: The purpose of the research is to examine the causal relationship between stock prices and the variables representing the real sector of the economy like read GDP, and real investment spending, in Pakistan. Researcher has used annual data from December 1980 to June 2007, to examine the stochastic properties of the variables, and has taken care of the expected shift in the series due to the start of the liberalization program in the early 1990s. State Bank General Price Index (SBGPI) with base 1980-81 is used for stock prices whereas for real variables GDP, and investment, at constant prices of 1980-81 were used. The descriptive statistics indicate a much higher expansion in stock prices relative to real variables. However, the stock prices also experienced much higher volatility during the sample period whereas the real variables seem to be stable. The correlation analysis shows low correlations between stock prices and real variables. However, there is evidence of significant increase in these correlations in the post reform period suggesting that these reforms resulted in significant improvement in the behavior of stock market and its linkages to the economy. In the formal investigation, the co-integration regressions indicate the presence of a long run relationship between stock prices and real variables. Regarding the cause and effect relationship the error correction model suggest a unidirectional causality from the real variables to stock prices implying that in Pakistan fluctuations in real sector cause changes in stock prices. The analysis does not verify the evidence of improvement in the linkages of stock market to the economy, which is indicated by the correlation analysis. These results have not changed by the incorporation of the expected shift in the variables resulting from the liberalization measures. The findings suggest that the stock market in Pakistan is still not that developed to play its due role in influencing the real sector of the economy. It can be implied, however, that the government can use the real sector to influence the stock market. An important implication of the findings is that the stock market in Pakistan cannot be characterized as the leading indicator of the economic activity. The study clearly indicates that it lags economic activity. It seems that the phenomenal growth in stock market variables like market capitalization, trading volume, the market index, etc. do not seem to influence the economy of Pakistan.
Author: Krishnan Lal Seth Publisher: ISBN: Category : Business & Economics Languages : en Pages : 188
Book Description
Study of economic development in Pakistan during the period from 1947 to 1965 - covers political and social structures of the country, agriculture, natural resources, industry, the balance of payments, national planning methodology and implementation of plans, investment policy, regional planning, etc. Statistical tables, and bibliography pp. 163 to 167.
Author: Ahmed, Qazi Masood Publisher: Intl Food Policy Res Inst ISBN: Category : Social Science Languages : en Pages : 39
Book Description
This paper compares the effects of aggregate and sectoral public investments on sectoral private investment, output, and employment. We estimate the elasticities of private investment with respect to aggregate and sectoral public investments to find crowding-out or crowding-in phenomena in Pakistan. The study also reveals the changes in labor absorption or replacement due to additional capital and the effects on output. Our data covers eight sectors of the Pakistan economy and uses annual time series data from 1964 to 2011. This study uses vector autoregressive (VAR) techniques, as applied by Pereira (2000, 2001), which allows measuring the dynamic feedback effects among the variables.
Author: Tashif Ahmed Publisher: GRIN Verlag ISBN: 3346262707 Category : Business & Economics Languages : en Pages : 27
Book Description
Academic Paper from the year 2019 in the subject Business economics - Investment and Finance, grade: 95.0, GC University, language: English, abstract: This empirical study was conducted to find the impact of IMF credit on the economy of Pakistan. Amid of 2018, Pakistan, being a developing nation is facing the critical situation for which it is left with no option other than knocking the door of IMF for borrowing credit in order to reform the up speculated economic crises. However, the studies have shown the controversial effects of IMF credit and its programs on the economies. Many critics believed that the programs of IMF exert significant effects on the economy, though this study was conducted to find the impact of IMF credit programs on the economy of Pakistan. The results depicted that the acceptance of the null hypothesis and rejection of the alternative hypothesis. Thus, the finding is that there is no impact of IMF credit programs on economic growth (GDP) of Pakistan since 1971. This proves that Pakistan can invest their borrowed loan in profitable projects to prosper the economic growth. Pakistan, being a developing nation is facing the critical situation for which it is left with no option other than knocking the door of IMF for borrowing credit in order to reform the up speculated economic crises. Before approving the loan the government of Pakistan must convince the IMF for less harsh conditionality against the additional fund than its quota. However, it would be a challenging task to reach IMF to demand 300% more than its quota. So, it is significant to know that whether the government is consuming that loan in fruitful projects so that enough turnover would generate from the economy to pay back the acquired loan. Unfortunately, despite of the global growth objective of IMF, around 11 major conditions imposed by IMF including: excise duty on service as well as agricultural sector, less expenditure in development programs of public sectors, currency devaluation, ceasing gas and electricity subsidy, uniformity in the rates of dollar exchange rate and interbank, ceasing of financial intervention in stock market of Pakistan, raise markup rate on bank and bank transactions, ceasing of non- development expenditure under budget of defense, non-allowance of supplementary grants to the government sectors, reduction in the non-developing expenses of ministries.
Author: Ministry of Finance, Government of India Publisher: Oxford University Press ISBN: 0199094136 Category : Business & Economics Languages : en Pages : 845
Book Description
The Economic Survey is the budget document of the Government of India. It presents the state of affairs of the Indian economy. Economic Survey 2017-18 consists of two volumes. Volume I provides an analytical overview of the performance of the Indian economy during the financial year 2017-18. It highlights the long-term challenges facing the economy. Volume II is a descriptive review of the major sectors of the economy. It emphasizes economic reforms of contemporary relevance like GST, the investment-saving slowdown, fiscal federalism and accountability, gender inequality, climate change and agriculture, science and technology, among others.
Author: Min Zhu Publisher: Springer Science & Business Media ISBN: 364227966X Category : Technology & Engineering Languages : en Pages : 860
Book Description
A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume. Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Sciences, Management. It is hoped that the present book will be useful to experts and professors, both specialists and graduate students in the related fields.
Author: Matthew McCartney Publisher: Routledge ISBN: 1136709452 Category : Political Science Languages : en Pages : 330
Book Description
This book provides a comprehensive reassessment of the development of the economy of Pakistan since independence to the present. It employs a rigorous statistical methodology, which has applicability to other developing economies, to define and measure episodes of growth and stagnation, and to examine how the state has contributed to each. Contesting the orthodox view that liberalisation has been an important driver of growth in Pakistan, the book places the state at the centre of economic development, rather than the market. It examines the state in relation to its economic roles in mobilising resources and promoting a productive allocation of those resources, and its political roles in managing the conflict inherent in economic development. The big conclusions for economic growth in Pakistan are that liberalisation, the market and the external world economy in fact have less influence than that of the state and conflict. Overall, the book offers analyses of the different successive approaches to promoting economic growth and development in Pakistan, relates these to medium-term economic outcomes - periods of growth and stagnation - and thereby explains how the mechanisms by which the state can better promote growth and development.
Author: Rizwan Raheem Ahmed
Author: Rizwan Raheem Ahmed
Author: Krishnan Lal Seth
Author: Abdul Karim
Author: A. Moquit
Author: Agha Mohamed Ghouse
Author: Ahmed, Qazi Masood
Author: Tashif Ahmed
Author: Ministry of Finance, Government of India
Author: Min Zhu
Author: Matthew McCartney