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Article
Publication date: 25 April 2023

Mubasher Iqbal, Rukhsana Kalim and Noman Arshed

This study has incorporated competitiveness by considering it a significant factor behind determining as well as moderating industrial value added in the environmental Kuznets…

Abstract

Purpose

This study has incorporated competitiveness by considering it a significant factor behind determining as well as moderating industrial value added in the environmental Kuznets curve (EKC) framework. This study aims to explore the moderating role of competitiveness policy in EKC with an aim to promote business led sustainability at national level.

Design/methodology/approach

Considering the environmental deterioration aspect of industrialization, this study tests the existence of EKC for SAARC countries using the data from 1996 to 2021 using second-generation static panel data model.

Findings

Estimated results have validated that moderating effect is responsible for improving environmental sustainability in SAARC countries. Furthermore, population density is responsible for increasing while trade openness is responsible for decreasing carbon emissions.

Originality/value

Higher industrial activities are a symbol of upward-moving economic growth. But its other impact is in the form of environmental deterioration. However, the relationship between industrialization and environmental quality can be identified through EKC.

Details

Competitiveness Review: An International Business Journal , vol. 34 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

Open Access
Article
Publication date: 11 January 2023

Xiaobing Huang, Yousaf Ali Khan, Noman Arshed, Sultan Salem, Muhammad Ghulam Shabeer and Uzma Hanif

Social development is the ultimate goal of every nation, and climate change is a major stumbling block. Climate Risk Index has documented several climate change events with their…

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Abstract

Purpose

Social development is the ultimate goal of every nation, and climate change is a major stumbling block. Climate Risk Index has documented several climate change events with their devastations in terms of lives lost and economic cost. This study aims to link the climate change and renewable energy with the social progress of extreme climate affected countries.

Design/methodology/approach

This research used the top 50 most climate-affected countries of the decade and estimated the impact of climate risk on social progress with moderation effects of renewable energy and technology. Several competing panel data models such as quantile regression, bootstrap quantile regression and feasible generalized least square are used to generate robust estimates.

Findings

The results confirm that climate hazards obstruct socioeconomic progress, but renewable energy and technology can help to mitigate the repercussion. Moreover, improved institutions enhance the social progress of nations.

Research limitations/implications

Government should improve the institutional quality that enhances their performance in terms of Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption to increase social progress. In addition, society should use renewable energy instead of fossil fuels to avoid environmental degradation and health hazards. Innovation and technology also play an important role in social progress and living standards, so there should be free hand to private business research and development, encouraging research institutes and universities to come forward for innovation and research.

Practical implications

The ultimate goal of all human struggle is to have progress that facilitates human beings to uplift their living standard. One of the best measures that can tell us about a nation’s progress is Social Progress Index (SPI), and one of many factors that can abruptly change it is the climate; so this study is an attempt to link the relationship among these variables and also discuss the situation where the impact of climate can be reduced.

Social implications

Although social progress is an important concept of today’s economics discussion, relatively few studies are using the SPI to measure social well-being. Similarly, there is consensus about the impact of climate on people, government and crops but relatively less study about its overall impact on social progress, so this study attempts to fill the gap about the relationship between social progress and climate change.

Originality/value

The main contribution of this study is the solution for the impact of climate risk. Climate risk is not in human control, and we cannot eliminate it, but we can reduce the negative impacts of climate change. Moderator impact of renewable energy decreases the negative impact of climate change, so there is a need to use more renewable energy to mitigate the bad consequences of climate on social progress. Another moderator is technology; using technology will also mitigate the negative consequences of the climate, so there is a need to facilitate technological advancement.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 3
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 28 May 2021

Noman Arshed, Muhammad Shahzad Sardar and Mubasher Iqbal

This study aims to test the role of infrastructure for economic growth. For this purpose, panel data of the world is selected from 1998 to 2018 and the study has used slope…

Abstract

Purpose

This study aims to test the role of infrastructure for economic growth. For this purpose, panel data of the world is selected from 1998 to 2018 and the study has used slope moderator to test the productivity of real economic activity with economic growth.

Design/methodology/approach

In this context, the feasible generalized least square method is adopted to estimate the results. Four types of infrastructure indicators i.e. quality of air, port, rail and road are used along with disaggregated GDP.

Findings

According to the results of this study, the role of industrial and agricultural value addition without infrastructure is negative. For industrial value addition, the cross product with all infrastructure types positively impacts economic growth. All the infrastructures, along with services value addition, except seaport, are contributing to economic growth positively. Along with agriculture value addition, only road infrastructure is contributing to economic growth positively. This study has also used two control variables i.e. quality of education and institutions. These variables are also found to be positive and significant with economic growth.

Originality/value

This study explores the moderating role of quality of infrastructure sector on real sector productivity, which is leading to economic growth.

Details

Competitiveness Review: An International Business Journal , vol. 32 no. 6
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 26 January 2023

Nadia Hanif, Anam Javaid, Noman Arshed and Abdul Rafay

Money laundering (ML) is the process used to convert the proceeds of crimes into lawful form. This global problem promotes social ills, corruption and organized crimes. Various…

Abstract

Purpose

Money laundering (ML) is the process used to convert the proceeds of crimes into lawful form. This global problem promotes social ills, corruption and organized crimes. Various instruments are used to counter individual illicit behavior. However, in low-income countries, these regulations are not common because of weak institutions, poor governance and a lack of awareness about the negative consequences of ML. In these countries, multinational corporations take advantage of poor law and order, lower environmental regulations and corruption and shift their domestic operations into foreign countries.

Design/methodology/approach

This study uses a multiple mediator model to investigate the link between foreign direct investment (FDI), environmental degradation measured as CO2 emissions (CE), exports and ML for 118 countries between 2008 to 2018.

Findings

Results indicate that FDI promotes exports and CE, leading to illicit financial flows.

Originality/value

Policymakers should enforce checks on foreign funds flow and adopt illicit flow mitigation measures to minimize ML globally.

Details

Journal of Money Laundering Control, vol. 26 no. 6
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 16 August 2021

Anam Javaid and Noman Arshed

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds. This study…

Abstract

Purpose

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds. This study aims to identify the important sources of growing demand for money laundering in developing countries. Further, it identifies the factors that reduce the impact of sources of demand for money laundering.

Design/methodology/approach

This study used the panel approach of feasible generalized least square to investigate the growing demand for money laundering in 62 developing countries and provides a moderation-based solution for managing the demand factors.

Findings

The empirical results of this study indicate that there are two sources that increase the demand for money laundering in developing countries. This includes a high tax rate on profit linked with private firms and businesses and diversion of public funds related to government officials and politicians. The results indicate that profit tax and diversion of funds increase the demand for money laundering. The profit tax-based money laundering can be moderated by the quality of the education system and the diversion of public funds and money laundering can be moderated using bureaucracy quality.

Originality/value

This is one of the first studies to empirically estimate the impact of two important sources (i.e. diversion of public funds by government officials and politicians and a high tax rate) that create demand for money laundering in developing countries. The findings help developing countries’ governments formulate policies and curb the growing demand for money laundering.

Details

Journal of Money Laundering Control, vol. 25 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 6 April 2021

Noman Arshed and Rukhsana Kalim

This study aims to develop and estimate the Musharaka demand and supply model for full-fledged Islamic banks to explore patterns and stability of Musharaka equilibrium in the…

Abstract

Purpose

This study aims to develop and estimate the Musharaka demand and supply model for full-fledged Islamic banks to explore patterns and stability of Musharaka equilibrium in the market.

Design/methodology/approach

This quantitative study uses a deductive approach to explore financial statement-level data of 30 Islamic banks of six countries between 2012 and 2017.

Findings

The results show that the Musharaka market is stable when Musharaka demand is purchase price elastic and supply is sale price inelastic. It indicates that the current banking industry is unable to increase supply when there is an increase in Musharaka returns. In comparison, industry demand for Musharaka is increasing at a higher rate, corresponding to a decrease in Musharaka price.

Practical Implications

This study is fundamental in estimating the market stable market returns and market quantity of Musharaka financing. If market returns and quantity deviate, market forces will push it to equilibrium.

Originality/value

The theoretical and empirical studies worked on the application and suitability of Musharaka financing. However, they failed to explain demand and supply forces in determining the level of Musharaka financing in the economy using empirical data. Without an equilibrium model, policymakers would be unable to predict the movement of the Islamic stock market index (the price of Musharaka financing) and the incidence of Musharaka financing. Further, it is not possible to apply expansionary intervention by policymakers if the stability of the market is unknown.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 3
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 18 March 2019

Rukhsana Kalim, Noman Arshed and Sadaf Shaheen

In the past few years, the concept of competitiveness developed by the World Economic Forum has become the focal point. Global competitiveness index (GCI) presents the constructs…

Abstract

Purpose

In the past few years, the concept of competitiveness developed by the World Economic Forum has become the focal point. Global competitiveness index (GCI) presents the constructs which are possible means of productivity of the country. The purpose of this study is to explore whether boosting the productivity of agriculture, services and industry sector is the possible channel of competitiveness leading to growth.

Design/methodology/approach

For this, panel GMM moderator model has been used for 16 low-income countries.

Findings

The results indicate that competitiveness helps agriculture and industry sector to become more growth productive, while it reduces the productivity of services sector.

Originality/value

This study urges that the gains from following the competition promotion policies overweigh the costs. Hence, low-income countries can break the low productivity trap.

Details

Competitiveness Review: An International Business Journal, vol. 29 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 19 August 2021

Munir Ahmad Zia, Rana Zamin Abbas and Noman Arshed

Pakistan is facing the momentous hazard of money laundering and a substantial risk of terror financing, which are seriously threatening its socioeconomic well-being. The purpose…

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Abstract

Purpose

Pakistan is facing the momentous hazard of money laundering and a substantial risk of terror financing, which are seriously threatening its socioeconomic well-being. The purpose of this paper is to gauge the challenges posed by these threats in contrast with the existing potential and expertise of legal entities. It also examines legal and procedural measures enforced as a counter-strategy for terror financing and money laundering and the AMLA 2010 and National Action Plan (NAP) for countering terrorism financing.

Design/methodology/approach

This paper uses an analytical and comparative method using figures and comparative data on the success of the NAP and AMLA 2010 as national counterterrorism strategies. Terror financing and anti-money laundering regimes are confronted with grave legal and procedural odds, noncooperation and performance issues and conflicts of interest on the part of the enforcers/politicians. This paper highlights the issues that seriously jeopardize strategies to stop money laundering and terror financing, such as geography, informal financial transfers and exchange systems, un-regulated charities and real estate sectors, the modest performance of enforcement agencies and lukewarm political support for the NAP.

Findings

The situation requires the improvement of weak legislation and poor coordination and the adaptation of technological advancements and novel counter-strategies, along with properly trained enforcement personnel.

Originality/value

This paper will prove to be a valuable reference for exploring the shortcomings and insights. This will provide useful information for legal and financial practitioners, academicians, research scholars, policymakers and journalists.

Details

Journal of Money Laundering Control, vol. 25 no. 1
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 29 July 2021

Rabia Muhammad Amjad, Abdul Rafay, Noman Arshed, Mubbasher Munir and Maryam Muhammad Amjad

The Financial Action Task Force defines money laundering as “processing of these criminal proceeds to disguise their illegal origin”. This is the major portion of financial crime…

Abstract

Purpose

The Financial Action Task Force defines money laundering as “processing of these criminal proceeds to disguise their illegal origin”. This is the major portion of financial crime that has ties across borders and like all financial crimes which are well planned and camouflaged, this crime is difficult to detect and deter. Over the years, on one side, globalization has provided development opportunities, it has also become one reason for the pervasiveness of money laundering. This has led to a disturbance in the global financial system and social unrest as proceeds from money laundering are being used in terrorism. The purpose of this study is to explore the non linear effect of globalization on financial crime in the form of money laundering.

Design/methodology/approach

An investigation based on 119 developing countries from the time period of 1985 till 2015 is conducted in this study. The panel quantile regression model was used to estimate antecedents of money laundering.

Findings

The study confirmed that globalization follows an inverted U-shaped relationship with money laundering. Furthermore, indicators such as investment portfolio and socioeconomic conditions have a significant effect on money laundering.

Originality/value

The panel quantile regression model was used to estimate antecedents of money laundering.

Details

Journal of Money Laundering Control, vol. 25 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 5 May 2022

Muhammad Abubakar Siddique, Mirajul Haq and Memoona Rahim

Since 2004, Pakistan carried the banking sector under the umbrella of the Islamic financial paradigm, consequently the Islamic Banking Industry (IBI) placed an upright position in…

Abstract

Purpose

Since 2004, Pakistan carried the banking sector under the umbrella of the Islamic financial paradigm, consequently the Islamic Banking Industry (IBI) placed an upright position in the banking and financial market of Pakistan. In this context, this study aims to analyze the effect of Shariah-compliant products of the IBI on the pace of economic growth in Pakistan.

Design/methodology/approach

The data set covered 13 Pakistani Islamic banks comprising four full-fledged Islamic banks and 9 conventional banks holdings standalone Islamic Branches, for the period 2004–2019. Considering nature of the empirical model and data set, the estimation was carried out with the Pooled Ordinary least squares estimation technique.

Findings

The findings of the study reveal that Shariah-compliant products have a positive effect on the pace of economic growth. This indication is based on the fact that five out of six Shariah-compliant products hold positive signs and are statistically significant. In addition, the empirical evidence shows that at large conventional financial sector signifies its role in the Shariah-compliant products and pace of economic growth nexus. Among the control variables, foreign direct investment, human capital, trade openness, inflation and private credit pose negative, whereas money supply and stock market capitalization have a positive effect on the pace of economic growth in Pakistan. Findings of the study points towards the fact that Shariah-compliant financing has great potential to enhance the economic growth of Pakistan therefore to touch the sustainable development goals (SDGs).

Practical implications

Having played a significant role in the growth process, Islamic bankers should portray a positive image of their industry to the government authorities. The government should design a public policy to encourage Islamic modes of finance at a macro level to increase the pace of economic growth and therefore SDGs realization.

Originality/value

Findings of the study present new insight into the application of Shariah-compliant products of IBI toward the realization of SDGs in case of Pakistan.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 15 no. 4
Type: Research Article
ISSN: 1753-8394

Keywords

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