Journal of Economic Impact

Dynamic Effect of External Finance in Achieving Eco-efficiency and Sustainable Development Goals

2024-05-24T16:02:49+00:00

United Nations Agenda 2030 is a call to action for global issues, and sustainability is a challenge that faces everyone. The primary objective of this research is to offer first-hand insights about external financing for sustainability. In order to calculate the impact of foreign financing on eco-efficiency, the Sustainable Development Goals, and the Social, Economic, and Environmental Development of 46 Asian countries between 2000 and 2021, the study used auto-regressive distributed lag (ARDL) models. The estimation's results showed foreign direct investment failed to significantly impact any of the five models over the short- or long-term, remittances, official development assistance, foreign debt, and restriction are useful indicators for advancing social, economic, and environmental development toward eco-efficiency and sustainable development goals. The study also indicated Sustainable development Goals and Social Development are more significant as compared to the other three Models eco-efficiency, economic, and environmental development during the short run and long run. Further indicated South Eastern Asia and East Asia Region Countries have strong requirements for External finance as compared to other Asian regions and external finance had a highly significant relationship with eco-efficiency and Sustainable Development Goals in the short run and long run from 2000 to 2021. Study recommendations are cleared; the Government’s systems should be designed as UN Agenda-2030 that supports the direction toward World Future Sustainability.

Unlocking Pakistan's Debt Conundrum: A Deep Dive into the Dynamics of Debt Servicing and External Debt Stock

2024-05-20T16:43:36+00:00

Pakistan stands at a crossroads where the burgeoning debt servicing cost of Rs 7.3 trillion is going to swallow the lion’s share of the projected revenue of Rs 9.2 trillion. This revenue also includes the Rs 5.2 trillion share allocated to the provinces. It is essential to study the causes of such a high debt stock rate, which requires a large outflow of foreign reserves. This study took 50 years of data about Pakistan and analyzed certain determinants of debt stock including debt service cost, budget deficit, military expenditure, import bill, and population. ARDL was used after finding a mixed order for stationery. The short and long-run analysis is undertaken. The Result shows that debt cost has a significant negative impact on debt stock, whereas budget deficit, military expenditure, import, and population have a significant positive impact on national debt. Based on the results, this study suggests that military expenditure and imports should be decreased to control national debt. The population must be maintained at an optimal level. The government should not go for a budget deficit as it requires further loans. The Results were checked for robustness and the model was stable.

Ethics Redefined: A Comparative Study on Women on Boards vs. Attributes of Corporate Governance in the Light of Firm Performance

2024-05-31T14:16:21+00:00

This study is related to Corporate Governance (CG) and is an important research stream. One of the most noteworthy dimensions of CG is Board Gender Diversity (BGD). While there is a lot of study being done on BGD in developing and emerging market economies is still in the early stages of this field. This study attempts to answer the seminal question, of what matters most for Firm Performance (FP), CG attributes, or just BGD). So, this study investigates the relationship between BGD and CG attributes, on the FP. The existing literature lacks a comprehensive analysis of BGD and CG attributes on FP so this study fills this research gap. To meet the study's objective, data is collected for 50 non-financial firms listed on the Pakistan Stock Exchange, the data period is 2017-2022 which leads to a total of 300 firm-year observations. For data analysis, the technique of panel regression is used in this study. This study reveals that CG attributes employ mixed influence on FP, while BGD negatively impacts the FP, emphasizing the significance of border governance mechanisms. This research shows the need for the firm to prioritize more ethical governance practices, across different cultural and economic contexts instead of just diluting the board with more female directors. Exploring the role of other variables could provide deeper insights into the factors deriving these relationships.

Competitive Textile Exports: A Comparative Study of Pakistan and China in the United States of America Market

2024-06-12T08:33:35+00:00

The clothing and textile industry is crucial to Pakistan's economy, significantly contributing to GDP and employment. Pakistan, with its strong expertise in cotton manufacturing, faces intense competition from China in the lucrative United States market. This study aims to evaluate Pakistan's textile and clothing exports to the United States and analyze its competitive advantages against China. Utilizing two analytical techniques, the Trade Competitiveness Index and Revealed Comparative Advantage (RCA), this research assesses Pakistan's positioning in the US market relative to China. Secondary data from authoritative sources such as WITS and UN Comtrade, along with scholarly articles, serve as the basis for the analysis. The study focuses on three key textile divisions (SITC 26, SITC 65, and SITC 84) and examines their impact on US imports. Key findings indicate that while Pakistan has demonstrated growth in textile exports, particularly in textile fabrics (SITC 26) and clothing (SITC 84), it still lags behind China in overall export volume and market share. The RCA analysis reveals that Pakistan possesses a comparative advantage in specific textile categories, though China's market dominance remains unchallenged. The research identifies several challenges for Pakistan, including inefficient resource use, energy supply issues, high production costs, and outdated equipment. However, opportunities for improvement lie in enhancing quality standards, compliance with international trade requirements, and strategic policy enhancements. The study provides actionable recommendations to strengthen Pakistan’s competitiveness, such as modernizing production equipment, optimizing resource use, and exploring new markets. The findings of this study are crucial for policymakers, industry stakeholders, and businesses aiming to strengthen Pakistan's textile exports and navigate the highly competitive global textile landscape.