Inflation in Pakistan: evidence from ARDL bounds testing approach

Hassan, Muhammad Shahid; Islam, Faridul; Ijaz, Muhammad

doi:10.1504/ijmd.2016.076550

Cited by 10 publications

(4 citation statements)

References 11 publications

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“…In the same vein, Hasanov (2019) in his time series analysis, made an investigation of the impact of government education expenditure on unemployment in Azerbaijan from 1995 to 2017. The ARDL bounds testing approach is employed to test the long-run and short-run relationships between the variables.…”

Section: Literature Reviewmentioning

confidence: 99%

Untitled

2023

IJDES

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Education is a fundamental human right and is essential for the development and progress of any nation. It is a general belief that educated individuals fare better in the labour market than the less educated. This study empirically examines investment and expenditures in education, and its influence on unemployment rate in Nigeria from 1991 to 2021. Unit root test, ARDL approach, bound test, Breusch Godfrey serial correlation LM test and the CUSUM test were employed. Unemployment rate (UER) was used as the dependent variable while Federal government recurrent expenditure (GEE), credit to private sector (CPS), average of school enrollment rate (ASE) as proxy for literacy rate, labour force participation rate (LFP) and gross fixed capital formation (GFCF) as the independent variables. Findings revealed that apart from UEM that is stationary at the level, the other variables are stationary at first difference given the 5% level of significance. Labour force participation rate is statistically significant. There is an insignificant positive relationship between government recurrent expenditure on education and unemployment rate in the long -run. On the other hand, credit to private sector, school enrolment rate, and gross fixed capital formation all conform to their a priori expectations, but are insignificant, i.e., statistically indifferent from zero. The study recommended among others that an actionable and working fiscal policy in the educational sector should be established and government should improve on the quality of institutions through better teacher training, investment in educational research development, and the establishment of vocational training centers that provide practical skills to students.

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Section: Literature Reviewmentioning

confidence: 99%

Untitled

2023

IJDES

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“…In this research, double log form approach is considered for estimating robust results as exposed by many scholars like M. S. Hassan et al ( , 2015Hassan et al ( , 2016Hassan et al ( , 2018Hassan et al ( , 2021, Mamoon et al (2017), Iftekhar et al (2016aIftekhar et al ( , 2016b, Kalim and Hassan (2014), Satti et al (2014), Ehrlich (1977), Layson (1983), Bowers and Pierce (1975), Cameron (1994), and Ehrlich (1996) in their researches. They were of the view that the results are robust, efficient, and consistent if these are calculated by using double log transformation approach.…”

Section: Functional Form Of the Studymentioning

confidence: 99%

Investigating Export Determinants: A Time Series Evidence From Canada

2022

Self Cite

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Export is an important macroeconomic factor that can elevate a country’s output performance and raise employment opportunities, in any economy. Any country may expand the number of its allies through exports. Foundation trade theories, like absolute advantage and comparative advantage, suggest that a country should export the product with greater absolute or comparative advantage. This sheds light on allocating the optimal resources for producing low-price products and flouting the idea of specialization among the countries of the world. The present study explores the factors that may influence the export performance of a developed economy like Canada from 1979 to 2019. The study findings provide evidence of the absence of multicollinearity and that the data series for the selected functional form of the study is stationary at mixed order. The results of the ARDL bounds test confirm long-run cointegrating relations between exports and its determinants for Canada. The results further reveal that per capita energy consumption and government final consumption expenditures significantly elevate export performance in both the long and short run, while population size significantly elevates exports performance only in the long run in Canada. Moreover, the findings also expose that real effective exchange rate significantly reduces exports in both the long and short run in Canada: This means that by depreciating Canadian currency, Canadian exports will be boosted. The real interest rate reports a negative but insignificant impact on the Canadian export function in both the long and short run. Finally, the CUSUM and CUSUM Square graphs confirm the stability of the estimated coefficients for the Canadian export function for the selected sample of the study.

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“…Finally, the low credibility of monetary policy might raise the persistence of inflation. Hassan, Islam and Ijaz (2016) employed the ARDL bounds testing approach to check the cointegration between variables including export per capita, indirect taxes per capita, external debt per capita, exchange rate, crude oil prices, and inflation in Pakistan in 1976-2011. They found that the series were cointegrated, and the effects of exports, exchange rate, indirect taxes, and crude oil prices on inflation were found to be positive and significant.…”

Section: Literature Reviewmentioning

confidence: 99%

Fiscal Policy, Monetary Policy and Price Volatility: Evidence from an Emerging Economy

Tùng

2021

OMEE

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Vietnam is an Asian emerging country, which now is ranked in the group of the fastest-gro- wing economies worldwide. However, this economy has faced galloping inflation in recent years. So the Vietnamese experience is a valuable reference for the policymakers in the developing world in order to successfully control price volatility. Our study applies the Vector autoregressive method, the Johansen cointegration test, and the Granger causality test to examine the impact of fiscal and monetary policy on price volatility in Vietnam with a quarterly data sample collected over the period from 2004 to 2018. The study results confirm the existence of a long-term cointegration relationship between these policies and price volatility in Vietnam. Besides, the variance decomposition and impulse response function also show that the impact of these policies on inflation is clear, however, the fiscal policy more strongly affects inflation than the monetary policy. Finally, the Granger causality test also indicates one-way causality relationships from the government expenditure as well as the exchange rate to price volatility in the study period.

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Inflation in Pakistan: evidence from ARDL bounds testing approach

Cited by 10 publications

References 11 publications

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Investigating Export Determinants: A Time Series Evidence From Canada

Fiscal Policy, Monetary Policy and Price Volatility: Evidence from an Emerging Economy

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