This main goal of this study is to check the exchange rate fluctuations and its impact on trade balance in Pakistan. The annual time series data from 1971 to 2016 is used to check the short run and long run relationship between Exchange rate fluctuations trade balance of Pakistan. We employed the autoregressive distributed lag approach and results reveal that Exchange rate has positive and significant relationship with balance of trade in long run and short run. Devaluation of Pakistani rupees against USD, would increase the exports and ultimately trade balance will enhance. The inflation and money supply has negative and significant relationship with balance of trade in long run in Pakistan. The excess of money supply will increase inflation which reduces the exports and consequently, balance of trade would decrease. This study has a policy implications for government as well as local and foreign investors. The government should also play an important role to make such strategies which can increase the balance of trade in Pakistan and can boost the economic growth of Pakistan indirectly.
Since 1998, Albania has experienced a significant economic growth. The Gross Domestic Product grew annually until 2013 without stops and recessions. It is a "praxis" to imagine that a developed country, by an economic point of view, can sustain high living standards for its inhabitants. These countries are recognized by a first economic analysis through what they produce. The base is a mechanized agriculture and the biggest part of workforce is employed in service sector. The most important feature of a developed country is still a modern industrial sector. Industrial sector symbolize the engine of economic growth and is a guarantee of economic stability in the medium and long term. The intention is to analyze whether the Albanian economic growth of the last sixteen years, was constant, continuous and healthy. We would see the performance of the industrial activity in the country through regression analysis and we will connect the course of Manufacturing, Mining and Construction to GDP product. The goal is to find out if in Albania took place an "Industrial Revolution" who led the country economic growth or if economic growth was a consequence of other components and is characterized by an inherent weakness and instability. We will notice which of the sub-sectors of the industry and was the most active and who has had the most difficult problems. It will highlight the increase in the weight of the industrial sector on the Albanian national economy and the limits that did not allow a full industrial development. Finally, we will suggest a series of measures and strategies that tend to enhance the degree of organization and integration among the various sectors of industrial activity.
Over the last decade, Islamic Financials (Sukuk) emerged as a pioneering capital market instrument. One of the fundamental reasons for the emerging demand of Islamic Financing (Sukuk) includes its adherence to the finance in accordance to the Islamic values, avoiding Riba, which is the generation of money from money such as usury or interest. Sukuk issues have notably proliferated, which fuels the debate regarding the between the conventional and the Islamic finance. To investigate the impact of Islamic and Conventional Financials on shareholders' wealth, this study takes the profitability ratios (including ROA, ROE, ROCE, and NPM) of 15 companies issuing Islamic Financials and 15 companies issuing Conventional Financials from the period between 2010 and 2017 and compares the profitability of both f financials. The findings reveal the Islamic Financials (Sukuk) to be a significantly high source of profitability for a company along with the other clients' catchy determinants such as religious principles, sharia-compliant instruments, and interest (Riba) free financing. The paper provide evidence that companies are recommended to pay more attention to Islamic Sukuk in order to grab the attention of customers. Furthermore, the Islamic Financials (Sukuk) offers other instruments to catch the customers' attention such as religious principles, shariacompliant instruments, and interest (Riba) free financing. From this perspective, the mentioned determinants fulfil the religious needs of customers.
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