This study examines the challenges faced by Pakistan during COVID‐19 pandemic and the policies taken by the Government of Pakistan to contain and control the spread of the pandemic. Pakistan is considered among those countries that have been severely affected by COVID‐19 due to insufficient health infrastructure. Moreover, the pandemic has affected the country socially and economically, which has slashed down GDP and overall wellbeing. However, the government has taken effective policy measures that enhanced the recovery rate of infected patients, for instance, out of 276,288 confirmed cases, 244,883 cases have been recovered. Currently, only 26,421 cases are active; it shows 88.6% recovery. Since the implementation of consistent plans, policies, and effective actions, the recovery rate has been ramping up, and infected cases have been getting down.
The current study explores the association of human capital, foreign direct investment, economic growth and population with the environment in Pakistan. Our study adopted the time series econometric estimation methodology autoregressive distributed lag model (ARDL) over 1980-2019. Interestingly our study results show that increase in human capital will clean the environment in both the short and long run. The study also validates the pollution haven hypothesis by proving the positive link of foreign direct investment with the ecological footprint. The findings also corroborate the existence of the long-run linkage of economic growth with the environment. The study suggests that policymakers and government officials should develop and promote the education sector that eventually mitigates environmental degradation.
PurposeFinancial inclusion is a critical component of financial development, which disseminates accessible financial services to benefit all parts of society and consequently promotes economic growth. The study explores the dynamic common correlated effects of financial inclusion on economic growth in Organization of Islamic Cooperation (OIC) countries.Design/methodology/approachThe conventional econometric techniques overlook heterogeneity and cross-sectional dependence and provide false results. Hence, a unique methodology, ‘Dynamic Common Correlated Effects (DCCE)’, is used, which can efficiently tackle the above-mentioned issues.FindingsThe DCCE estimation indicates a positive and significant impact of financial inclusion on economic growth in overall and higher-income OIC economies. Moreover, in the lower-income OIC group, financial inclusion is inversely correlated with economic growth, which converts into a positive linkage by including an interaction term of financial inclusion and institutional quality.Practical implicationsBased on the research outcomes, it is recommended that policymakers and governments of OIC economies seek to increase financial inclusion to achieve sustainable, optimal and inclusive economic growth.Originality/valueThe DCCE technique in this study considers heterogeneity and cross-sectional dependence among countries and thus provides robust findings.
Purpose: This study aims to explore the impact of monetary policy on inflation and investment in Pakistan.
Methodology: Our study employs the Autoregressive distributed lag model (ARDL) over the time of 1972 to 2019.
Findings: The empirical findings show that in the long-run impact of money supply has significant and positive on investment and other variables trade, foreign direct investment, gross domestic saving, services are also positively associated with the investment. While other variables interest rate and exchange rate negatively linked with investment. Empirical findings of the second econometric model show the core variable money supply has a significant and positive on inflation including other variables foreign direct investment, exchange rate, exports and government expenditures on education but other variables interest rate, gross domestic saving and agriculture output negatively linked with inflation.
Implications: The study indicates that a stable monetary policy should be introduced to improve a country's economic development. Monetary policy should be used to build an agreeable environment of uncertainty that draws both domestic and outside investors to promote economic growth. Economic growth can be accomplished by encouraging efficient monetary policy steps for inflation stability and attractive interest rates.
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