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Author: Rana Ejaz Ali Khan
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
The literature on financial development and poverty reduction is extensive. Most of the studies are cross-country studies questioned on the basis of inability to eliminate country specific effects. This study examined the role of financial development in poverty reduction in Pakistan. The paper tested a causal process linking financial development and poverty reduction through Johansen cointegration and Wald test. The empirical results indicate the neither bi-directional nor uni-directional causality exist between financial development and poverty. The financial development in Pakistan has not caused poverty reduction expressing the imperfections in financial market.
Author: Rana Ejaz Ali Khan
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
The literature on financial development and poverty reduction is extensive. Most of the studies are cross-country studies questioned on the basis of inability to eliminate country specific effects. This study examined the role of financial development in poverty reduction in Pakistan. The paper tested a causal process linking financial development and poverty reduction through Johansen cointegration and Wald test. The empirical results indicate the neither bi-directional nor uni-directional causality exist between financial development and poverty. The financial development in Pakistan has not caused poverty reduction expressing the imperfections in financial market.
Author: Ali Azam
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Poverty is multifaceted phenomenon. Since last two decades, issue of poverty has been researched or studied from different angles in Pakistan. Diversified policies have been suggested for poverty alleviation. But still the problem exists and needs appropriate solutions. The current study is based on secondary data for the period from 1975-2016, which considers the financial development and trade liberalization as policy variables to reduce the poverty in Pakistan. For this, we have used financial development index that is constructed through principal components analysis (PCA) technique based on different financial indicators. The ARDL approach is used to estimate the model. Based on the results, trade openness and development of financial sector has shown significant impact on poverty alleviation in Pakistan. The study has further emphasized for trade liberalization. It is suggested that trade liberalization and the promotion of financial sector are also essential to reduce the poverty level.
Author: Muhamed Zulkhibri
Publisher: Springer
ISBN: 3319697994
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial inclusion, within the broader context of inclusive development, is viewed as an important means to tackle poverty and inequality and to address the sustainable development goals (SDGs). This book contributes to the literature on these topics and will be of interest to researchers and academics interested in Islamic finance and financial inclusion.
Author: Rizwan Mushtaq
Publisher:
ISBN:
Category :
Languages : en
Pages : 56
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Book Description
This paper attempts to investigate the causal linkages between financial development, financial instability and poverty in Pakistan in the presence of structural changes. In addition to conventional finance growth relationship, this study presents empirical evidence whether credit expansion paves the way for financial instability, which in turn causes macroeconomic volatility. To incorporate the probable influence of structural changes identified by (Perron, 1989; Zivot and Andrews, 1992) unit root tests with structural breaks. We utilized ARDL bounds testing and (Gregory and Hansen, 1996) cointegration with structural breaks followed by (Hsiao, 1981) version of granger causality. We find the poverty reduction effects of financial development in the both short and long run. In contrast financial instability and real sector show insignificant coefficients. Furthermore, evidence of unidirectional causality departs from growth to finance confirmed by ADL model; however Hsiao's test reports bidirectional causality. We also show that financial development reduces financial instability while macroeconomic volatility stimulates it. Besides, we perform cointegration and causality analysis in the both bivariate and multivariate frameworks.
Author: Saeed, Wajiha
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 4
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Book Description
Over the last two decades, Pakistan has made significant progress in reducing all measures of poverty. The consumption-based poverty headcount decreased from 57.9% in 1998-99 to 29.5% in 2013-14, while the incidence of multidimensional poverty has declined from 55.2% in 2004-05 to 38.8% in 2014-15. However, as noted by the World Bank and the 2015-16 Economic Survey from the Ministry of Finance, much of the population remains in poverty or could fall into poverty if economic conditions worsened. Simultaneously, measures of inequality have risen. In comparison to 1987-88, the richest 20% now consume seven times more than the poorest 20%, and, while multidimensional poverty is less than 10% in major cities, it is more than 90% in some districts. Furthermore, Pakistan has experienced structural changes such that the share of services in total GDP has grown considerably. Agriculture’s contribution to GDP declined from 22.9% to 18.9%2 over the period 2003-04 to 2017-18. Yet, the labor force is still employed in agriculture, as its share in total employment has only seen a marginal decline, from 43.1% in 2003-04 to 42.3%.
Author: Tatiana Nenova
Publisher: World Bank Publications
ISBN: 082138032X
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
Although access to financing in Pakistan is expanding quickly, it is two to four times lower than regional benchmarks. Half of Pakistani adults, mostly women, do not engage with the financial system at all, and only 14 percent have access to formal services. Credit for small- and medium-size enterprises is rationed by the financial system. The formal microfinance sector reaches less than 2 percent of the poor, as opposed to more than 25 percent in neighboring countries. Yet it is the micro- and small businesses, along with remittances, that help families escape the poverty trap and participate in the economy. 'Bringing Finance to Pakistan s Poor' is based on a pioneering and comprehensive survey and dataset that measures the access to financial products by Pakistani households. The survey included 10,305 households in all areas of the country, excluding the tribal regions. The accompanying CD contains summary statistics. The authors develop a picture of access to and usage of financial services across the country and across different population groups, and they identify policy and regulatory priorities. Reform measures in Pakistan have been timely, but alone are not enough; financial institutions have lagged behind in adopting technology, segmenting customer bases, diversifying products, and simplifying processes and procedures. Gender bias and low levels of financial literacy remain barriers, as is geographical remoteness. However, the single strongest cause of low financial access is lack of income not location, education, or even gender. 'Bringing Finance to Pakistan s Poor' will be of great interest to readers working in the areas of business and finance, economic policy, gender and rural development, and microfinance.
Author: Arshad
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper has examined the empirical relationship between financial development and economic growth in Pakistan over the period 1971-2004. The results show that, in the long run financial depth and real interest exerted positive impact on economic growth. The share of investment is although positively correlated to real income, but remained insignificant. Furthermore, in the short run economic growth is positively and significantly affected by changes in the share of investment. Moreover, changes in real interest rate exerted positive (negative) impact on growth. However, the response of real interest rate is very small in the short run. The feed back coefficient is negative and significant, suggesting about 0.06 percent disequilibrium in the previous period is corrected in the current year. We find a stable long run relationship between economic growth and financial depth. Unlike Ireland (1994) and Demetriades and Hussein (1996), our findings are consistent with the view that economic growth is an outcome of the financial development.
Author: Sylviane Guillaumont Jeanneney
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This article investigates how financial development helps to reduce poverty directly through the McKinnon conduit effect and indirectly through economic growth. The results obtained with data for a sample of developing countries from 1966 through 2000 suggest that the poor benefit from the ability of the banking system to facilitate transactions and provide savings opportunities but to some extent fail to reap the benefit from greater availability of credit. Moreover, financial development is accompanied by financial instability, which is detrimental to the poor. Nevertheless, the benefits of financial development for the poor outweigh the cost.
Author: Fayyaz Baqir
Publisher: Taylor & Francis
ISBN: 0429871538
Category : Science
Languages : en
Pages : 162
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Book Description
Aid effectiveness has emerged as an intensely debated issue amongst policy makers, donors, development practitioners, civil society and academics during the past decade. This debate revolves around one important question: does official development assistance complement, duplicate or disregard the local resource endowment in offering support to recipient economies? This book draws on Pakistan’s experience in responding to this question with a diverse range of examples. It focuses on a central idea: no aid effectiveness without an effective receiving mechanism. Pakistan is among the top aid recipient countries in the developing economies. It was a shining model in the sixties and it ranks among the highly underperforming countries after the new millennium. This book offers an insight into the dynamics of success and failure of Pakistan in availing foreign financial and technical assistance for human development and poverty alleviation. It draws on field experiences to present case studies on water, shelter, health, education, and health and safety at work to identify the causes and consequences of aid in relation to social reality. Findings relate to developing economies and would be of interest to a wide range of individuals within the development sector.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1484309855
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
This Selected Issues paper provides an overview of social safety nets (SSNs) in Pakistan and uses a frontier analysis approach to assess their efficiency in reducing poverty and inequality. SSNs in Pakistan were significantly strengthened over time but remain small against regional and emerging markets’ averages. The analysis suggests that stepping up public expenditure in SSNs is needed to alleviate still high poverty and inequality. To this end, finalizing the update of the Benazir Income Support Program beneficiaries’ database, broadening its coverage, and stepping up educational transfers is key. In parallel, continuing the energy subsidies reform would create fiscal space to strengthen SSNs and priority social spending.
