We develop a structural econometric model of import demand for Pakistan, with binding foreign exchange constraint. ARDL and DOLS techniques are used to estimate the log-run coefficients of price and income elasticities. The empirical results from ARDL bound testing approach and Johansen’s...

This study tests the purchasing power parity hypothesis for four South Asian economies and China by employing a recent nonlinear test of stationarity. Besides testing the CPI based PPP, we have also used PPI based real exchange rate in the analysis. The results indicate that nonlinear tests are...

This paper aims to explore whether and how firm-level governance mechanisms affects Corporate Social Responsibility (CSR) using a large sample of firms listed at Pakistan Stock Exchange. Further, the paper investigates the differential effects of corporate governance (CG) on CSR across small,...

This study consists of two separate sections; both sections can be read individually but share a common theme in Corporate Governance (CG). In the first section, a unique approach is presented to test whether the manner through which corporate governance structure influence stock market...

This study is the first to empirically examine whether the speed of adjustment (SOA) of capital structure is asymmetric between financially conservative (FC) and non-financially conservative (NFC) firms in Pakistan over the period 1998-2014. Using GMM estimation method for estimating target net...

The link between public and private investment is investigated using annual data of the period from 1964–65 to 2004-05. The estimates based on structural cointegration approach indicate that both are cointegrated and public investment crowds in private investment. The study then used the...

This study extends the analysis of casuality by Husain and Rashid by taking care of the shift in the variables due to the price hikes in the early 1970s. We investigate the casual relations between real money and real income, between nominal money and nominal income, and between nominal money...