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Article
Publication date: 23 September 2020

Muhammad Tahir and Arshad Hayat

The purpose of this paper is to explore the potential impact of trade openness on economic growth for the economy of Brunei Darussalam.

Abstract

Purpose

The purpose of this paper is to explore the potential impact of trade openness on economic growth for the economy of Brunei Darussalam.

Design/methodology/approach

Empirical analyses are conducted using the autoregressive distributed lagged model (ARDL) procedure and the data used were spanning from 1989 to 2018.

Findings

The obtained results indicated a positive and statistically significant relationship between trade openness and economic growth. Similarly, the results also revealed that domestic investment and natural resources positively impacted economic growth. Further, this paper found that human capital has impacted economic growth both negatively and significantly, which is against the prior expectation. Moreover, in the short-run, trade openness and domestic investment have lost its significance level while all other variables have maintained both their significance levels and signs of their coefficients.

Practical implications

This paper has provided comprehensive evidence regarding the relationship between trade openness and economic growth for Brunei Darussalam. Therefore, the policymakers of Brunei are suggested to take practical steps to gear up trade liberalization, and hence attain higher growth. Further, a favorable attention is also needed toward economic diversification and encouraging domestic investment to accelerate the long-run economic growth.

Originality/value

As this is a comprehensive study on the economy of Brunei Darussalam, therefore, this paper expects that the policymakers would find it useful while formulating and exercising suitable policies related to trade openness.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 13 no. 2
Type: Research Article
ISSN: 1754-4408

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Article
Publication date: 8 May 2018

Muhammad Tahir, SAF Hasnu and Mario Ruiz Estrada

Trade openness plays a significant role in the growth process of countries. The purpose of this paper is to examine the impact of macroeconomic determinants on the trade…

Abstract

Purpose

Trade openness plays a significant role in the growth process of countries. The purpose of this paper is to examine the impact of macroeconomic determinants on the trade openness of countries.

Design/methodology/approach

The study focuses on the South Asian Association for Regional Cooperation (SAARC) member countries and the data used were from 1971 to 2011. Panel data econometrics techniques and two stages least square method (TSLS) are used to carry out empirical analysis and robustness testing.

Findings

The main finding of the paper is that macroeconomic determinants such as investment both in physical and human capital and per capita gross domestic product (GDP) positively affect trade openness. Further, the size of labour force and currency exchange rate has also impacted trade openness negatively and significantly.

Practical implications

It implies that efficient macroeconomic management matters for higher trade openness. The sampled developing countries are suggested to pay favourable attention to macroeconomic variables if they want to grow in the long run through outward-oriented policies.

Originality/value

This paper is an original contribution in the context of SAARC countries by focusing on the relationship between macroeconomic determinants and trade openness.

Details

Journal of Asia Business Studies, vol. 12 no. 2
Type: Research Article
ISSN: 1558-7894

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Article
Publication date: 5 November 2020

Muhammad Tahir, Ahmad Ali Jan, Syed Quaid Ali Shah, Md Badrul Alam, Muhammad Asim Afridi, Yasir Bin Tariq and Malik Fahim Bashir

The purpose of this paper is to explore the contending role of important external inflows on the economic growth of Pakistan economy. The main purpose behind focusing on…

Abstract

Purpose

The purpose of this paper is to explore the contending role of important external inflows on the economic growth of Pakistan economy. The main purpose behind focusing on Pakistan is that it is receiving significant inflows from different international sources such as International Monetary Fund, World Bank and Asian Development Bank.

Design/methodology/approach

The study adopted the autoregressive distributed lag cointegration approach for the purpose of exploring the long-run cointegrating relationship among the variables. As Pakistan Government had been implementing some major liberalization policies during 1990s, data from 1976 to 2018 is used to estimate the specified models to reflect the impact of the surge of foreign inflows occurring from that time. In addition, error correction model is estimated for examining the short-run relationships.

Findings

The findings revealed the significant role played by different inflows in accelerating the economic growth. According to results, in the long run, all inflows, for example, Foreign direct investment (FDI), debt, official developdment assistance and remittances, have influenced significantly and positively the economic growth. The two control variables such as inflation and employment level included in the model have also played their expected role in the growth process. In the short run, some of the variables such as remittances, FDI and inflation rate have lost their significance level while for debt, aid and employment level, the signs of their coefficients become reversed.

Practical implications

Based on the findings, the study suggests the policymakers of Pakistan economy to liberalize the economy and attract more inflows from the external sources to accelerate economic growth.

Originality/value

To the best of the authors’ knowledge, this is the first comprehensive empirical study on the role of foreign inflows in the process of economic growth in the context of Pakistan economy.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 13 no. 3
Type: Research Article
ISSN: 1754-4408

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Article
Publication date: 10 June 2020

Muhammad Tahir, Arshad Hayat, Kashif Rashid, Muhammad Asim Afridi and Yasir Bin Tariq

The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the…

Abstract

Purpose

The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the current paper focusses to investigate the impact of different types of human capital on economic growth.

Design/methodology/approach

The paper utilizes data for the period 1998 to 2017 and employs suitable econometric techniques.

Findings

It is found that it is not the stock of human capital rather its utilization in terms of average working hours that matters for higher growth. Other than human capital, trade openness and investment are positively associated with growth. On the other hand, inflation has an insignificant impact while employment level has a negative impact on growth. Moreover, for developing countries, the study also revealed that stock of human capital has negatively and average working hours has positively impacted economic growth. Finally, domestic investment and employment level appeared to be the main growth determinants in developing countries.

Research limitations/implications

Policymakers are suggested to ensure the maximum utilization of working hours, trade openness and domestic investment in improving economic growth in OECD countries.

Originality/value

This study has visualized the impact of human capital on economic growth from a new perspective and hence would be useful for policymakers.

Details

Journal of Economic and Administrative Sciences, vol. 36 no. 4
Type: Research Article
ISSN: 1026-4116

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Article
Publication date: 22 July 2021

Muhammad Tahir, Arshad Hayat and Umar Burki

Environmental degradation is recognized as a serious problem globally, and hence, Saudi Arabia is no exception. This paper aims to focus on the economy of Saudi Arabia to…

Abstract

Purpose

Environmental degradation is recognized as a serious problem globally, and hence, Saudi Arabia is no exception. This paper aims to focus on the economy of Saudi Arabia to identify the determinants of environmental degradation.

Design/methodology/approach

Time series data spanning from 1971 to 2014 is used and analyzed using the recently developed autoregressive distributed lag modeling approach.

Findings

The obtained results reflected that natural resources, per person income and urbanization, have impacted environmental degradation both positively and significantly in the long run. Similarly, an insignificant negative relationship is established between trade openness and environmental degradation. Moreover, energy consumption has positively but insignificantly affected environmental degradation. In the short run, only per capita income has positively influenced environmental degradation while the rest of the variables have lost either significance levels or their direction of relationship has reversed.

Originality/value

As this is a pioneering study on the economy of Saudi Arabia, therefore, the authors assume that policymakers will find the findings of the current study very useful while formulating and implementing policies to control environmental degradation.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

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Article
Publication date: 10 November 2020

Muhammad Asim Afridi, Muhammad Tahir, Aziz Ullah Sayal and Imran Naseem

The African region has experienced relatively lower economic growth and higher outflow of migration over the years. The purpose of this research paper, therefore, is to…

Abstract

Purpose

The African region has experienced relatively lower economic growth and higher outflow of migration over the years. The purpose of this research paper, therefore, is to focus on the African region to investigate whether or not there is any link between the poor economic growth and rising outflow of migration.

Design/methodology/approach

Empirical data spanning from 1990 to 2015 are collected from reliable sources for 41 countries belonging to the African region. Appropriate estimating methodology that controls for unobserved heterogeneity both across time and across countries, and endogeneity is employed.

Findings

The results revealed that the migration has adversely influenced the economic growth of the African region as a whole. The splitting of sample into male and female migration also reflected the fact that the unsatisfied economic growth of the African region could be explained by the ever rising migration level. Other determinants such as employment and growth of physical capital have helped the region in the growth journey. Human capital has not played a vital role in economic growth as it is adversely affected by migration. Further, the study found support for the positive impact of moderate inflation on economic growth. The obtained results are robust to alternative methodologies and hence would be beneficial for policymakers.

Originality/value

The present study provides for the first time comprehensive empirical evidence on the relationship between migration and economic growth by focusing on Africa. Therefore, this study would be of prime importance for policymakers.

Details

International Journal of Social Economics, vol. 47 no. 12
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 21 June 2019

Muhammad Tahir, Tooba Mazhar and Muhammad Asim Afridi

The trade–growth nexus has been researched during the past few decades. However, the impact of trade openness on different sectors of the economy is not well explored. The…

Abstract

Purpose

The trade–growth nexus has been researched during the past few decades. However, the impact of trade openness on different sectors of the economy is not well explored. The purpose of the current study is to focus on developing countries to examine the impact of trade openness on three main sectors: industrial, service and agricultural.

Design/methodology/approach

The study applied econometric techniques that control unobserved heterogeneity and endogeneity to obtain robust and reliable results.

Findings

The results revealed that trade openness impacts different sectors differently. Trade openness positively impacts agriculture and industrial sectors, whereas it negatively affects the service sector. A similar trend is observed with regard to employment as it affects service sector negatively and creates a positive impact on other sectors, namely, agriculture and industrial sectors. Furthermore, it was found that human capital has a negative effect on all sectors, whereas financial development has positive effects on service and industrial sectors and negative effect on agriculture sector. The results are robust because of the method of estimation and the addition of some relevant variables.

Practical implications

The policymakers should focus on trade in agricultural and industrial sectors and should discourage trade in the service sector.

Originality/value

This study has examined the impact of trade openness on sectoral growth by focusing on the developing world, which is an under-researched area in the literature.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 12 no. 2
Type: Research Article
ISSN: 1754-4408

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Article
Publication date: 14 October 2020

Muhammad Tahir and Md Badrul Alam

This paper empirically examines the perceived relationship between banking sector performance and FDI inflows, thereby highlighting an underexplored area in the existing…

Abstract

Purpose

This paper empirically examines the perceived relationship between banking sector performance and FDI inflows, thereby highlighting an underexplored area in the existing literature.

Design/methodology/approach

To provide evidence from the South Asian context, this study selected five economies of the same region based on the data availability. A panel dataset, collected from the internationally reliable sources for the period 1998–2017, is analyzed with the help of different econometric techniques, including pooled least squares, fixed effects, generalized least square and two stages least squares.

Findings

The results indicate a significant negative relationship between banking sector performance and FDI inflows while demonstrating a significant positive association of inflation and trade openness with FDI inflows Moreover, higher per capita income, which is one of the indicators of a growing economy, exerts a statistically significant positive impact on FDI inflows. Finally, institutional factors have not played a significant role in attracting FDI in the sampled countries.

Practical implications

The results demonstrate a unique outcome from the perspective of the relationship between banking sector performance and FDI inflows, and hence policymakers of the developing countries in general and South Asian countries in particular would benefit from the current study significantly.

Originality/value

The obtained results are original as we have provided comprehensive evidence on the relationship between FDI and banking sector performance in the SAARC context for the first time.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 12 July 2021

Muhammad S. Tahir, Abdullahi D. Ahmed and Daniel W. Richards

This study aims to test a moderated mediation model for a twofold purpose. First, to examine the mediating role of financial capability (FC) in the association between…

Abstract

Purpose

This study aims to test a moderated mediation model for a twofold purpose. First, to examine the mediating role of financial capability (FC) in the association between financial literacy (FL) and financial well-being (FW). Second, to analyze if non-impulsive future-oriented behavior (NIB) moderates the associations of FL with FC and FL with FW.

Design/methodology/approach

The authors use the PROCESS macros in IBM SPSS Statistics to test the moderated mediation model and analyze the 2016 wave of the Household, Income and Labor Dynamics in Australia Survey.

Findings

The empirical analysis shows that FC partially mediates the association between FL and FW. Furthermore, the moderated mediation analysis shows that NIB strengthens the associations of FL with FC and FL with FW. Specifically, the positive associations of FL with FC and FL with FW significantly increase for those consumers who score high on NIB.

Practical implications

The findings have implications for the financial services industry. Professional financial planners can positively improve the ability of consumers to deal with their financial matters by highlighting the importance of FL and NIB.

Social implications

The study findings suggest educating consumers to discourage impulsive behavior and encourage them to create financial plans as it will enhance their ability to conduct financial tasks efficiently, improving their FW.

Originality/value

To the authors’ knowledge, this is the first study to assess a moderated mediation model, which examines the role of FC as a mediator variable and NIB as a moderator variable in the association between FL and FW.

Details

International Journal of Bank Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0265-2323

Keywords

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Article
Publication date: 10 July 2020

Sabir Zaman, Shahid Irfan, Basharat Hussain, Muhammad Tahir Nawaz and Shazia Khalid

There is increased social discussion of the emerging issues of opioid use, health and well-being of young adults within contemporary Asian society. The purpose of this…

Abstract

Purpose

There is increased social discussion of the emerging issues of opioid use, health and well-being of young adults within contemporary Asian society. The purpose of this study is to contribute new knowledge of opioid-using young adults through ethnographic perspectives of the five main cultures of Pakistan. Furthermore, it tried to explore the values of opioid users.

Design/methodology/approach

It is a qualitative study. Semi-structured interview and observation techniques were used to gain the participants’ information, in a non-judgmental environment. Observation and life focus history interview methodology were used for data collection. The sample consisted of 18 male opioid users (approximately three from each area including: Punjab, Khyber Pakhtoon Khah, Balochistan, Sindh, Gilgit Baltistan and Azad Jammu and Kashmir). An interview script was used in interviews after written informed consent. After the detailed interview and observation of non-verbal behaviours, the researchers analysed the data by using the content analysis of qualitative method.

Findings

The result showed that poor relationships, conflicts over property, lack of social support and family problems increased with the use of opioids by individuals. The individual’s mental health, such as hopelessness, curiosity, mistrust and lack of interest in social activities, was the major cause of opioid addiction. Moreover, peer influences and friends may also have played contributing roles in opioids use among men.

Research limitations/implications

The current study added to the understanding of the relationship of different environmental, behavioural and social factors involved in developing opioid use among young individuals. The homogeneity of the sample may have weakened the generalisability of the findings of the study as all participants in the study were male.

Practical implications

Clinicians and allied professionals have shown a great interest in early intervention with opioid users. At the same time, there is a lack of qualitative studies exploring the lived experiences of young opioid users. That is why this study was done, to empower counsellors.

Social implications

Opioids, including heroin, have strong addictive tendencies. They are easily available, particularly in unplanned urban areas of Pakistan. The present study tried to understand the lived experiences and beliefs of opioid users belonging to different cultures of Pakistan.

Originality/value

At the same time, there is a lack of qualitative studies exploring the lived experiences of adult opioid users. Therefore, this study presented 18 interview-based facts from the opioid users belonging to different areas of Pakistan residing in capital of Pakistan. The content of these vignettes was examined in the context of an ethnographic perspective, as it has a strong connection and contribution to drug abuse.

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