Asian Economic and Financial Review

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Online ISSN: 2222-6737
Print ISSN: 2305-2147
Total Citation: 1219

No.1

Determinants of Earnings: Evidence from Pakistan Engineering Sector


Pages: 40-48
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Determinants of Earnings: Evidence from Pakistan Engineering Sector

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Kashif Imran, Khalid Naeem Akbar
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Kashif Imran, Khalid Naeem Akbar (2011). Determinants of Earnings: Evidence from Pakistan Engineering Sector. Asian Economic and Financial Review, 1(1): 40-48. DOI:

Engineering sector plays a considerable role in Pakistan’s economy. The contribution of engineering industry to GDP is $2 billion and it provides employment to significant personnel. The engineering sector in a number of economies of the world, works as a major and speedy engine of economic growth. This study is an attempt to identify the factors affecting the earnings of engineering sector of Pakistan, by using the panel data of twenty-seven engineering firms listed on Karachi Stock Exchange (KSE) covering the period of 1990 to 2008. It is found that, in the long run Net Working Capital, and GDP growth has a positive impact on Earnings per Share and Operating Ratio, Net Fixed Assets and GDP deflator has a negative impact while Interest rate has not significant effect on earnings per share.


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The Forecasting Performance of Seasonal and Nonlinear Models


Pages: 26-39
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The Forecasting Performance of Seasonal and Nonlinear Models

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Houda Ben Hadj Boubaker
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Houda Ben Hadj Boubaker(2011). The Forecasting Performance of Seasonal and Nonlinear Models. Asian Economic and Financial Review, 1(1): 26-39. DOI:

In this paper, we compare the forecasting performance of seasonal and non linear auto regressive models in terms of point, interval, and density forecasts for the growth rates of the Tunisian industrial production, for the period 1976:1- 2006:2. Our results suggest that the point forecasts  generated by the linear models perform better than those provided by the nonlinear models at all horizons. By contrast, the analysis of interval and density forecasts at horizons of one and three quarters provide an evident support for the nonlinear models, this result is in line with the literature. Thus, our findings assess the usefulness of nonlinear models to investigate the dynamic behavior of economic systems and to produce accurate forecasts.


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Economic Freedom Verses Economic Growth: Cross Countries Analysis in the form of ARDL approch


Pages: 14-25
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Economic Freedom Verses Economic Growth: Cross Countries Analysis in the form of ARDL approch

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Khalid Mahmood, Toseef Azid
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Khalid Mahmood, Toseef Azid(2011). Economic Freedom Verses Economic Growth: Cross Countries Analysis in the form of ARDL approch. Asian Economic and Financial Review, 1(1): 14-25. DOI:

The generous theoretical and empirical debates are available on institutional freedom and economic growth, but unsuccessful to facilitate stationary conclusion regarding the nature of connection. It is still confusing that either economic freedom cause economic growth or economic growth widens the foundation for economic freedom. The finale will be more puzzled if the analysis based on different kinds of economies. The aim of this study is to probe the nature of relationships between economic freedom and economic growth in different kinds of economies. For statistical evidence autoregressive distributed lag (ARDL) approach is employed by using the data of 96 countries [High Income (29), Upper Middle Income (18), Lower Middle Income (26) and Lower Income (23)]. The empirical results indicate bilateral and robust relationships between economic freedom and economic growth in high income and lower middle income countries, while in upper middle income and low income countries, economic freedom causes economic growth in unilateral connection.


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Dimension of Globalization And Their Effects On Economic Growth


Pages: 1-13
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Dimension of Globalization And Their Effects On Economic Growth

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Utpal Kumar De, Manoranjan Pal
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Utpal Kumar De, Manoranjan Pal (2011). Dimension of Globalization And Their Effects On Economic Growth. Asian Economic and Financial Review, 1(1): 1-13. DOI:

The globalisation is supposed to reduce regional inequality, poverty and promote sustainability and improve overall human quality. Several studies have provided contradictory results in regard to the effect of globalisation, either in case of growth of GDP, or reduction in inequality and poverty or maintaining environmental sustainability and finally the human development. This paper attempts to examine the pattern of globalisation across the countries along with its effect on the growth of GDP as well as human development index. The term globalization is becoming more and more meaningful as can be seen from the interrelations of these variables. Also globalization has been seen to have effect on the contemporary and very recent future values only.


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