While there are scholars who have analysed factors that influence Turkey’s bilateral exports, very few have examined the impact of cooperation/conflicts on Turkey’s trade in general and with particular reference to Africa. In view of the above, this paper seeks to analyse and estimate the effect on exports from Turkey to 52 African countries of Turkey’s relationship with the Africa Union for the period 1998-2015. Poisson Pseudo Maximum Likelihood (PPML) results suggest that Turkey’s cooperation with Africa (TAR) is positive and statistically significant in inducing exports from Turkey to 52 selected African countries. Specifically, TAR increases Turkey’s exports to selected African countries by 44.5%. Alternatively, due to TAR Turkey’s exports to Africa are predicted to be 1.44 times higher than in the absence of cooperation. However, there is evidence that TAR’s impact on exports vary across regions. Compared to countries in the Northern part of Africa, the effect of TAR with African countries in the East, South, and West is negative and statistically significant. Given these results, it is therefore prudent for Turkey to target countries or regional trading blocs in where export deficiency has been diagnosed so that more exports can be stimulated.
{"title":"Analysing the Turkey-Africa Relationship’s Impact on the flow of Turkey’s Exports","authors":"Puruweti Siyakiya","doi":"10.29145/EER/21/020102","DOIUrl":"https://doi.org/10.29145/EER/21/020102","url":null,"abstract":"While there are scholars who have analysed factors that influence Turkey’s bilateral exports, very few have examined the impact of cooperation/conflicts on Turkey’s trade in general and with particular reference to Africa. In view of the above, this paper seeks to analyse and estimate the effect on exports from Turkey to 52 African countries of Turkey’s relationship with the Africa Union for the period 1998-2015. Poisson Pseudo Maximum Likelihood (PPML) results suggest that Turkey’s cooperation with Africa (TAR) is positive and statistically significant in inducing exports from Turkey to 52 selected African countries. Specifically, TAR increases Turkey’s exports to selected African countries by 44.5%. Alternatively, due to TAR Turkey’s exports to Africa are predicted to be 1.44 times higher than in the absence of cooperation. However, there is evidence that TAR’s impact on exports vary across regions. Compared to countries in the Northern part of Africa, the effect of TAR with African countries in the East, South, and West is negative and statistically significant. Given these results, it is therefore prudent for Turkey to target countries or regional trading blocs in where export deficiency has been diagnosed so that more exports can be stimulated.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131745268","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study aims to determine the effect of health expenditures on economic growth while taking into account the quality of health institutions, keeping in view the fact that it’s not just the level, rather quality of expenditures or institutions that matters. Our hypothesis was where institutions are better health investment in health brings more economic growth as compared to those with low quality institutions. To attain that objective the standard neoclassical Solow Growth Model at steady-state level was taken as theoretical framework and made a production function adding institutional quality proxied by government effectiveness along with other variables like health expenditure, primary education completion rate, population growth etc. For estimation purposes, data for the sample of 20 South, East Asian and Pacific developing countries was used for the period 1995-2017. It was found that if health expenditures adjusted for the quality of government expenditures increase by 100%, then the economic growth will increase by 5%.
{"title":"Health Expenditures, Institutional Quality and Economic Growth","authors":"Syeda Anam Fatima Rizvi","doi":"10.29145/EER/21/020103","DOIUrl":"https://doi.org/10.29145/EER/21/020103","url":null,"abstract":"The study aims to determine the effect of health expenditures on economic growth while taking into account the quality of health institutions, keeping in view the fact that it’s not just the level, rather quality of expenditures or institutions that matters. Our hypothesis was where institutions are better health investment in health brings more economic growth as compared to those with low quality institutions. To attain that objective the standard neoclassical Solow Growth Model at steady-state level was taken as theoretical framework and made a production function adding institutional quality proxied by government effectiveness along with other variables like health expenditure, primary education completion rate, population growth etc. For estimation purposes, data for the sample of 20 South, East Asian and Pacific developing countries was used for the period 1995-2017. It was found that if health expenditures adjusted for the quality of government expenditures increase by 100%, then the economic growth will increase by 5%.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122195861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, the author examined the influence of Indo-ASEAN import on the ASEAN trade and financial integration during 1994-95 to 2017-18 using cointegration test, vector error correction model and Wald Test taking foreign direct investment inflows, real effective exchange rate, openness, Indo-ASEAN import, intra import share, GDP growth rate of ASEAN, the import concentration and diversification index of ASEAN as variables. The paper concludes that there are four co-integrating equations. There are short run causalities from Indo-ASEAN import, intra import share and FDI inflows of ASEAN to growth rate of ASEAN. Long run causalities were found from ASEAN growth rate of GDP to intra import share of ASEAN, from Indo-ASEAN import to growth rate of ASEAN, from FDI inflows of ASEAN and GDP growth of ASEAN to intra-ASEAN import share, from Indo-ASEAN import to import diversification index of ASEAN respectively. Lastly, there are short run causalities from indo-ASEAN import and import concentration index of ASEAN to import diversification index of ASEAN respectively during 1994-2017.
{"title":"Impact of Indo-ASEAN Import on ASEAN Trade and Financial Integration","authors":"Debesh Bhowmik","doi":"10.29145/EER/21/020101","DOIUrl":"https://doi.org/10.29145/EER/21/020101","url":null,"abstract":"In this paper, the author examined the influence of Indo-ASEAN import on the ASEAN trade and financial integration during 1994-95 to 2017-18 using cointegration test, vector error correction model and Wald Test taking foreign direct investment inflows, real effective exchange rate, openness, Indo-ASEAN import, intra import share, GDP growth rate of ASEAN, the import concentration and diversification index of ASEAN as variables. The paper concludes that there are four co-integrating equations. There are short run causalities from Indo-ASEAN import, intra import share and FDI inflows of ASEAN to growth rate of ASEAN. Long run causalities were found from ASEAN growth rate of GDP to intra import share of ASEAN, from Indo-ASEAN import to growth rate of ASEAN, from FDI inflows of ASEAN and GDP growth of ASEAN to intra-ASEAN import share, from Indo-ASEAN import to import diversification index of ASEAN respectively. Lastly, there are short run causalities from indo-ASEAN import and import concentration index of ASEAN to import diversification index of ASEAN respectively during 1994-2017.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134477904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The primary objective of the study is to determine the relative and incremental information content of Economic Value Added (EVA) as compared to the traditional accounting measure of Earnings per Share (EPS). The study employs the methodology derived from Easton and Harris (1991). The study sample comprises 30 largest listed non-financial firms on Pakistan Stock Exchange (PSX) and covers the period from 2005-2014. The findings indicate that EPS outperforms EVA in capturing the market trends of stock return performance. The results of the research negate the common notion of EVA as a superior measure of firm performance. Although, evidence obtained from empirical tests illustrates that EVA provides marginal incremental information combined with EPS, but it is low. The study offers academicians, practitioners and investors a more accurate measure by which to assess performance in the markets.
{"title":"Economic Value Added or Earnings per Share? An Incremental Content Analysis","authors":"Maham Ejaz, Rubeena Tashfeen, K. Younas, A. Naeem","doi":"10.29145/EER/12/010204","DOIUrl":"https://doi.org/10.29145/EER/12/010204","url":null,"abstract":"The primary objective of the study is to determine the relative and incremental information content of Economic Value Added (EVA) as compared to the traditional accounting measure of Earnings per Share (EPS). The study employs the methodology derived from Easton and Harris (1991). The study sample comprises 30 largest listed non-financial firms on Pakistan Stock Exchange (PSX) and covers the period from 2005-2014. The findings indicate that EPS outperforms EVA in capturing the market trends of stock return performance. The results of the research negate the common notion of EVA as a superior measure of firm performance. Although, evidence obtained from empirical tests illustrates that EVA provides marginal incremental information combined with EPS, but it is low. The study offers academicians, practitioners and investors a more accurate measure by which to assess performance in the markets.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127423462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Financial decisions (capital budgeting, capital structure and dividend policy) are the most important components of corporate finance and now a days have received the attention of researchers and practitioners. Financial decisions influence the financial performance of a firm. Uncertainty, corporate social responsibility, and stakeholders interest are the most important determinants of the financial decisions. The purpose of this study is twofold: firstly, this study provides a systematic review of literature summarizing the theoretical and empirical literature of the financial decisions, their determinants and financial performance. Secondly, it provides the empirical evidence based on survey and data was collected from Chief Financial Officers of Telecommunication, Banking, and Insurance companies listed in Karachi Stock Exchange (KSE) of Pakistan. This study used SPSS and AMOS for data analysis. This study finds that the financial decisions and their determinants are critical factors for the financial performance of firms.
{"title":"Application of Financial Decisions, their Determinants, and Financial Performance: A Tabular Summary of Systematic Literature Review","authors":"Ahmed Imran Hunjra, H. Bakari, I. Batool","doi":"10.29145/EER/12/010205","DOIUrl":"https://doi.org/10.29145/EER/12/010205","url":null,"abstract":"Financial decisions (capital budgeting, capital structure and dividend policy) are the most important components of corporate finance and now a days have received the attention of researchers and practitioners. Financial decisions influence the financial performance of a firm. Uncertainty, corporate social responsibility, and stakeholders interest are the most important determinants of the financial decisions. The purpose of this study is twofold: firstly, this study provides a systematic review of literature summarizing the theoretical and empirical literature of the financial decisions, their determinants and financial performance. Secondly, it provides the empirical evidence based on survey and data was collected from Chief Financial Officers of Telecommunication, Banking, and Insurance companies listed in Karachi Stock Exchange (KSE) of Pakistan. This study used SPSS and AMOS for data analysis. This study finds that the financial decisions and their determinants are critical factors for the financial performance of firms.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122927813","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The last financial crisis has had negative impacts on economic growth underlining the contagion between the financial sphere and the real sphere. Indeed, in many developed economies the aggregate production fell abruptly during the financial turbulences period. Now the problem is to understand how a financial crisis creates such a contagion. The answer may partly lie in the role of financial variables in the economic growth outlook. In this paper, we analyze the predictive power of some relevant financial variables to forecast the GDP growth in Luxembourg by implementing a Mixed Data Sampling model developed by Ghysels, Sinko, and Vuksic (2007). Both financial and non-financial variables are introduced such as stock index, monetary aggregates (M1 and M2), industrial production index (I.P.I) and mutual fund’s N.A.V. (Net Asset Value). The industrial production index (I.P.I) is used as a benchmark. According to our estimations, the stocks index and mutual funds’ N.A.V outperform the industrial production index. Considering the role of finance in Luxembourgish economic growth, this result is not surprising. M1 outperforms the I.P.I over the long-term run.
{"title":"Financial Variables as Predictive Indicators of the Luxembourg GDP Growth","authors":"Sabbah Gueddoudj","doi":"10.29145/EER/12/010203","DOIUrl":"https://doi.org/10.29145/EER/12/010203","url":null,"abstract":"The last financial crisis has had negative impacts on economic growth underlining the contagion between the financial sphere and the real sphere. Indeed, in many developed economies the aggregate production fell abruptly during the financial turbulences period. Now the problem is to understand how a financial crisis creates such a contagion. The answer may partly lie in the role of financial variables in the economic growth outlook. In this paper, we analyze the predictive power of some relevant financial variables to forecast the GDP growth in Luxembourg by implementing a Mixed Data Sampling model developed by Ghysels, Sinko, and Vuksic (2007). Both financial and non-financial variables are introduced such as stock index, monetary aggregates (M1 and M2), industrial production index (I.P.I) and mutual fund’s N.A.V. (Net Asset Value). The industrial production index (I.P.I) is used as a benchmark. According to our estimations, the stocks index and mutual funds’ N.A.V outperform the industrial production index. Considering the role of finance in Luxembourgish economic growth, this result is not surprising. M1 outperforms the I.P.I over the long-term run.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130522233","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper uses Box-Jenkins approach to model and forecast real GDP growth in Ethiopia. Such an approach could easily provide forecast for key macroeconomic variables in limited data environment. Based on the approach, the paper estimates Autoregressive Integrated Moving Average ARIMA (1,1,1) model and forecasts real GDP growth. Both the in-sample fit and pseudo-out of sample forecasts show that the ARIMA model’s performance are good and better than other forecasts.
{"title":"Forecasting GDP Growth: Application of Autoregressive Integrated Moving Average Model","authors":"Y. Awel","doi":"10.29145/EER/12/010201","DOIUrl":"https://doi.org/10.29145/EER/12/010201","url":null,"abstract":"This paper uses Box-Jenkins approach to model and forecast real GDP growth in Ethiopia. Such an approach could easily provide forecast for key macroeconomic variables in limited data environment. Based on the approach, the paper estimates Autoregressive Integrated Moving Average ARIMA (1,1,1) model and forecasts real GDP growth. Both the in-sample fit and pseudo-out of sample forecasts show that the ARIMA model’s performance are good and better than other forecasts.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133576722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The current study examines the impact of globalization on poverty across 119 countries by utilizing poverty headcount index based on 1.90$ international poverty line and KOF globalization index developed by Dreher, Gaston, and Martens (2008). The main objectives of the research are to examine the general impact of globalization on poverty and region specific impact of globalization on poverty. The crosssection analysis based on OLS method suggests that globalization significantly reduces the level of poverty of selected countries. Apart from that, the study found that secondary education enrolment ratio, percentage of urban population and percentage of population who has access to electricity also reduce the poverty. However, impact of globalization on poverty is not equal across all the regions. The region-based analysis confirms that globalization reduces poverty in all considered regions except Sub-Saharan Africa. More specifically, contribution of globalization on poverty reduction is more substantial in South Asia region followed by East Asia and Pacific and Europe and Central Asia regions. Consequently, the study strongly recommends countries to engage with the process of globalization and however the degree of opening up trade policies, capital accounts and labor markets should be decided based on their own domestic macroeconomic conditions and future economic goals.
{"title":"Globalization-Poverty Nexuses: Evidences from Cross-Country Analysis","authors":"Ravindra Deyshappria","doi":"10.29145/EER/11/010102","DOIUrl":"https://doi.org/10.29145/EER/11/010102","url":null,"abstract":"The current study examines the impact of globalization on poverty across 119 countries by utilizing poverty headcount index based on 1.90$ international poverty line and KOF globalization index developed by Dreher, Gaston, and Martens (2008). The main objectives of the research are to examine the general impact of globalization on poverty and region specific impact of globalization on poverty. The crosssection analysis based on OLS method suggests that globalization significantly reduces the level of poverty of selected countries. Apart from that, the study found that secondary education enrolment ratio, percentage of urban population and percentage of population who has access to electricity also reduce the poverty. However, impact of globalization on poverty is not equal across all the regions. The region-based analysis confirms that globalization reduces poverty in all considered regions except Sub-Saharan Africa. More specifically, contribution of globalization on poverty reduction is more substantial in South Asia region followed by East Asia and Pacific and Europe and Central Asia regions. Consequently, the study strongly recommends countries to engage with the process of globalization and however the degree of opening up trade policies, capital accounts and labor markets should be decided based on their own domestic macroeconomic conditions and future economic goals.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123918014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The problem of energy is one that has plagued the economic growth of Pakistan for decades; the resulting domestic pressure has often led to the misallocation of resources, and therefore should be studied extensively for evidence based policy recommendation. The study in hand aims to envelope and analyze approximate factors responsible for determining electricity demand in the country. The study analyzes the aggregate demand for electricity in Pakistan from 1975-2016, by considering log-run climatic variable affecting electricity demand. The ADF, the Johansen Cointegration, and the ARDL techniques have been applied for the estimation of parameters and analysis. The scientific analysis found that in the short run and long run number of consumers, income (real GDP per capita) square of income and stock of appliances have a significant relationship with the demand of electricity. Where all significant relationships in the long run have a positive relationship with the demand apart from the square of income which may suggest a shift towards alternate means of energy production with a long term sustained growth in income. While, price is found to be insignificant determinant of electricity demand in both short run and long run, which reveals that electricity is considered a necessity by Pakistan’s electricity consumers. In the short run number of consumers, income, squared income, and stock of appliances, all have significant positive relationships with demand, and temperature has an insignificant positive relationship in the short run, but a significant positive relationship in the long run.
{"title":"Pakistan’s Electricity Demand Analysis 1975-2016","authors":"Aneeq Sarwar, U. Hanif","doi":"10.29145/EER/11/010105","DOIUrl":"https://doi.org/10.29145/EER/11/010105","url":null,"abstract":"The problem of energy is one that has plagued the economic growth of Pakistan for decades; the resulting domestic pressure has often led to the misallocation of resources, and therefore should be studied extensively for evidence based policy recommendation. The study in hand aims to envelope and analyze approximate factors responsible for determining electricity demand in the country. The study analyzes the aggregate demand for electricity in Pakistan from 1975-2016, by considering log-run climatic variable affecting electricity demand. The ADF, the Johansen Cointegration, and the ARDL techniques have been applied for the estimation of parameters and analysis. The scientific analysis found that in the short run and long run number of consumers, income (real GDP per capita) square of income and stock of appliances have a significant relationship with the demand of electricity. Where all significant relationships in the long run have a positive relationship with the demand apart from the square of income which may suggest a shift towards alternate means of energy production with a long term sustained growth in income. While, price is found to be insignificant determinant of electricity demand in both short run and long run, which reveals that electricity is considered a necessity by Pakistan’s electricity consumers. In the short run number of consumers, income, squared income, and stock of appliances, all have significant positive relationships with demand, and temperature has an insignificant positive relationship in the short run, but a significant positive relationship in the long run.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115848540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The literature predicts both positive and negative health outcomes in developing economies as a result of increasing trade. Does openness to trade help to improve health indicators in the case of Pakistan? This study attempts to answer this question using data from 1975 to 2016. This study uses life expectancy and infant mortality as health indicators while trade to GDP ratio as trade openness indicator. For robustness analysis, the study uses international trade taxes, exports to GDP ratio and imports to GDP ratio. The empirical results of the study show that 1% increase in trade to GDP ratio significantly decreases life expectancy by 0.05 years and significantly increases infant mortality by 0.47 deaths. Thus, trade causes adverse effects on health indicators in the case of Pakistan.
{"title":"The Impact of Trade Liberalization on Health: Evidence from Pakistan","authors":"Nida Qadir, Muhammad Tariq Majeed","doi":"10.29145/EER/11/010104","DOIUrl":"https://doi.org/10.29145/EER/11/010104","url":null,"abstract":"The literature predicts both positive and negative health outcomes in developing economies as a result of increasing trade. Does openness to trade help to improve health indicators in the case of Pakistan? This study attempts to answer this question using data from 1975 to 2016. This study uses life expectancy and infant mortality as health indicators while trade to GDP ratio as trade openness indicator. For robustness analysis, the study uses international trade taxes, exports to GDP ratio and imports to GDP ratio. The empirical results of the study show that 1% increase in trade to GDP ratio significantly decreases life expectancy by 0.05 years and significantly increases infant mortality by 0.47 deaths. Thus, trade causes adverse effects on health indicators in the case of Pakistan.","PeriodicalId":149171,"journal":{"name":"Empirical Economic Review","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133650989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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