Regime-specific impact of financial reforms on economic growth in Pakistan

This study uses and proposes a new methodological approach to construct a financial liberalization index on the basis of the dynamic factor model technique. The resulting index is used to investigate the impact of the financial sector reforms in Pakistan on economic growth. Using the Markov regime-switching model over the period 1972–2015, the empirical results showed that the examined relationship is nonlinear, nonmonotonic, state-dependent, and better described by the two-state Markov switching model characterized by the high growth regime and low growth regime. Despite the positive impact of financial liberalization on economic growth in both the high and low growth regimes, financial liberalization relatively strongly affects real GDP growth in the high growth regime. The results further demonstrate that transition probabilities establish an inordinate episode of the low growth regime. Furthermore, the high growth regime is relatively short-lived than the low growth regime. Among the other variables, trade openness and physical capital stock have a positive impact on economic growth, while labor force and government expenditure exert a negative effect on economic growth. Several economic policies are proposed and discussed for better functioning of financial sector development in Pakistan.     

Suicide prevention in Bangladesh: The current state and the way forward

Despite the World Health Organization's (WHO) call to adopt a national action plan on suicide, Bangladesh is yet to respond proactively to prevent this serious public health problem. The existing government and non‐government prevention interventions are very limited, segmented and almost invisible. Suicide (including attempted suicide) is currently a criminal offense under the Bangladeshi legal framework. The aim of this paper is to propose a framing toward a national suicide prevention action plan in Bangladesh based on a situational analysis of local existing suicide prevention interventions. International policy documents, empirical and review works, and legal documents that speak to suicide interventions were reviewed. Critical analysis of these interventions suggests that Bangladesh should prioritize the adoption of a multi‐sectoral suicide prevention action plan. The issue of decriminalization suicide should be carefully considered and policies harmonized before adopting the plan. Obtaining commitment from the policymakers to launch such intervention may be challenging. Considering the seriousness of the problem, Bangladeshi policymakers should be proactive in adopting a suicide prevention action plan. Neighboring countries provide useful lessons of the implementation measures that may assist with developing a suicide prevention action plan.     

On moments of dual generalized order statistics from Topp-Leone distribution

In this paper, we have derived exact and explicit expressions for the ratio and inverse moments of dual generalized order statistics from Topp-Leone distribution. This result includes the single and product moments of order statistics and lower records . Further, based on n dual generalized order statistics, we have deduced the expression for Maximum likelihood estimator (MLE) and Uniformly minimum variance unbiased estimator (UMVUE) for the shape parameter of Topp-Leone distribution. Finally, based on order statistics and lower records, a simulation study is being carried out to check the efficiency of these estimators.     

COVID-19 and business failures: The paradoxes of experience,scale, and scope for theory and practice

In light of growing scholarly works on business failure, across the social science domains, it is surprising that past studies have largely overlooked how extreme environmental shocks and ‘black swan’ events such as those caused by the coronavirus (COVID-19) pandemic and other global crises, can precipitate business failures. Drawing insights from the current literature on business failure and the unfolding event of COVID-19, we highlight the paradoxes posed by novel exogenous shocks (that is, shocks that transcend past experiences) and the implications for SMEs. The pandemic has accelerated the reconfiguration of the relationship between states and markets, increasing the divide between those with political connections and those without, and it may pose new legitimacy challenges for some players even as others seem less concerned by such matters, whilst experiential knowledge resources may be both an advantage and a burden.     

Developing an African research network and research agenda on work–family interface

In this article we aim to provide a narrative of the critical engagement on work–family issues in Africa that took place during the inaugural workshop of the African Research Network on Work–Family held at the University of Pretoria, South Africa in September 2015. The inter-disciplinary experts at the workshop agreed that with funding and appropriate local data, the Network has the potential to make a substantial contribution to strengthening and amplifying African voices in the global work–family discourse, which is currently dominated by research findings and literature from the Global North. A future research agenda was also proposed.     

Knowledge Groups: A Model for Creating Synergy Across the Public Sector

Private sector lays a strong emphasis on acquiring knowledge, because in today’s world, it is knowledge that is the primary source of sustained profitability. Public sector organizations also need to be learning organizations. However, they are constrained by a number of factors. This paper discusses different models for knowledge sharing, but finds them inadequate for the public sector. It then develops a model of Knowledge Groups that creates synergy across the public sector by formally gathering professionals from different and even competing public sector organizations for a clearly defined and mutually valued goal. The paper also identifies risks that may lead to the failure of Knowledge Groups. It concludes by presenting a case study on Energy Management and analyzes the dynamics of interaction between Group members for formulating guidelines and standards on the subject.     

The Role of Development Oriented Non-Governmental Organizations in Creating Shared Value in the Educational Sector of Ghana: The Mediating Role of Basic Needs

This paper employed a structural equation modeling technique to investigate how Development Oriented Non-Governmental Organizations (DONGOs) could complement government efforts through the concept of shared value creation in the educational sector of Ghana. To address this objective, we analyzed whether DONGOs could create shared value by pursuing both social and economic objectives and also how the growing basic needs of education could influence these relationships. The study concluded that basic needs fully mediate social value to shared value and partially mediate economic value to shared value. Moreover, the study revealed that economic value to shared value creation is statistically significant and also demonstrated a positive and significant relationship between social value and shared value. The results further indicate that basic needs have a positive and significant relationship with shared value.

     

THE SHIFTS IN LEAD-LAG PROPERTIES OF THE U.S. BUSINESS CYCLE

We document shifts in the lead-lag properties of the U.S. business cycle since the mid-1980s. Specifically, (1) the well-known inverted leading indicator property of real interest rates has completely vanished; (2) labor productivity switched from positively leading to negatively lagging output and labor inputs over the cycle; and (3) the unemployment rate shifted from lagging productivity negatively to leading positively. Many contemporary business cycle models produce counterfactual cross-correlations revealing that popular frictions and shocks provide an incomplete account of business cycle comovement. Determining the underlying sources of these shifts in the lead-lag properties and their consequences for macroeconomic forecasts is therefore a promising direction for future research. (JEL E24, E32, E43)     

Effects of Remittance Behavior on the Lives of Recent Immigrants to Canada from the Philippines: A Population-Based Longitudinal Study

Remittances, money sent by immigrants to family members in their countries of origin, were studied. Research goals were to (1) describe remittance behavior over time and (2) understand effects of sending remittances on the lives of remitters living in Canada. Data were obtained from three waves of the Longitudinal Survey of Immigrants to Canada (2000–2004) for a national sample of Canadian Filipino immigrants. Multivariate regression analyses were used to assess the effects of remittances on health, housing and living conditions of the study population. Results showed that over time respondents’ own health was not affected by remitting. In contrast housing and living conditions were affected: Remitters were less likely to own their homes and more likely to rent than non-remitters when the effects of age, sex, family income and immigration class were controlled. The researchers make suggestions for practice and future research dealing with housing and living conditions of recent immigrants to Canada.     

Generalized geometric distribution of order k: A flexible choice to randomize the response

This article focuses on the improvement of a well-celebrated randomized response technique of Kuk. A generalized randomized response technique is suggested. In particular, the generalized geometric distribution of order k is introduced as a randomization device for estimating the population proportion of a rare sensitive attribute. The proposed randomized response technique includes Singh and Grewal and Hussain et al. techniques as its special cases. Through numerical illustrations, it is established that the suggested technique is superior to the Kuk, Singh and Grewal, and Hussain et al. techniques. Flexibility of the proposed technique is also discussed.