An attempt has been made to explore the determinants of public investment in agricultural extension services in Pakistan. We find empirical support for the efficiency model as against the interest group model in agricultural extension services. The study concludes that medium size farmers demand more agricultural extension services as against large and small farmers. Moreover, owner operators also demand more agricultural extension services as compared with tenants. We also find that education in Pakistan can complement agricultural extension services due to low education level of the farmer.
Housing demand parameters are not known in Pakistan. This paper estimates the value of the housing stock (and flow of services) from 1960-61 to 1987-88 and sets up a model of lagged adjustment to desired demand to estimate these parameters. Long-run income and price elasticities are revealed to be low. the absolute magnitudes do not differ significantly from 0.5. However, corresponsing elasticities od housing investment appear to be high, indicating the potential volatility of building activity in the country.
the study based on 20 thusabd school age children, of which a little more than half attend school, identifies the factor which influence the decision-making with regard to sending the child to school. Using Heckmans procedure of selectivity bias correction, it also estimates the demand for education. An important finding of the study is that investment in female education is one of the most important factors in increasing the literacy rate.
We have computed a total factor productivity index for Pakistan's large-scale manufacturing sector for the period 1955-81. The impact of the violation emanating from the use of growth accounting techniques has been minimized by treating our index as a residual and using marginal product weights. We have computed another total factor productivity index based on factor share weights in order to show the extent of the bias that emerges from using methodologies that assume conditions which do not prevail in a developing economy like Pakistan.
The third world brain drain problem contains elements of economic, social and political complexities. The neo-classical economic theory may, therefore, be deficient in explaining brain drain. A number of studies have focused on the effects of brain drain rather than the causes. Moreover, data availability was a problem in previous studies. This paper is concerned with a dis aggregated analysis of the determinants of immigration of engineers and scientists to the U.S. from the third world countries. Attempt has been made to explain the third world professional immigration to the U.S. with a variant of Arrow-Capron model (1959). This analysis supports the view that labor market shortages explain the immigration of engineers and scientists to the U.S. An immigrant income taxation proposal may be effective in compensating the third world countries and in stopping professional immigration.
In this paper we have identified the sources of growth and its beneficiaries in Pakistan’s large scale manufacturing sector using a simultaneous equation model. The use of such a model was necessitated since the Sims Test revealed endogeneity in the variables. We find the single equation estimates biased when compared with the ones obtained from the use of the simultaneous model. Using the latter estimates we find the contribution of capital much less, and the contribution of labor almost double as compared with the single equation estimates. The contribution of technological change declines just a little. The single equation estimates revealed constant returns to scale, while the simultaneous model indicated the presence of increasing returns. We find that every one per cent increase in productivity leads to a 0.6 per cent increase in wages and a 0.6 per cent decline in prices.
This paper surveys major issues in the financial repression literature. A theoretical discussion of sources of imperfections in capital market and financial repression is presented. Important conclusions from the survey are presented for LDC policy makers in terms of impact on investment and savings variables. Based upon the former, a framework is developed in which a significant link between financially repressive policies and financial 'looting' is highlighted. A heuristic discussion of conditions under which financial '˜looting' takes place is provided. The end result, and cost to the economy. is 'paper' investment and concentration of economic power.
Kakwani (1980) has suggested the use of Gini Coefficient to estimate income elasticities. This paper shows that co-efficient of variation , another measure of inequality. can also be used efficiently to find income elasticities. Derivation of both the estimators are based on the use of Extended Linear Expenditure System.
Today
Yesterday
This week
This month
All days
Number of views: 292