Empirical Economic Review https://ojs.umt.edu.pk/index.php/eer <p style="text-align: justify;">Empirical Economic Review (EER) is a multidisciplinary journal published by the Department of Economics and Statistics, Dr Hasan Murad School of Management (HSM), University of Management and Technology (UMT) Press, Lahore, Pakistan. EER brings forward the prevailing topics in the fields of economics, finance and public policy simulating a thought-provoking debate leading to an insight of theoretical and empirical research. Within this orientation, the journal provides a focus for theoretical, applied, interdisciplinary, history of thought, and methodological work with a strong emphasis on realistic analysis, the development of critical perspectives, the provision, and use of empirical evidence and construction of policy.</p> en-US <p style="text-align: justify;">EER follow an open-access publishing policy and the full text of all the articles is available free, immediately upon acceptance. Articles are published and distributed under the terms of the <a href="http://creativecommons.org/licenses/by/4.0">Creative Commons Attribution 4.0 International License</a>. Thus, work submitted to EER implies that it is original, unpublished work of the authors; neither published previously nor accepted/under consideration for publication elsewhere.&nbsp;On acceptance of a manuscript for publication, the corresponding author on the behalf of all co-authors of the manuscript will to sign and submit a completed Copyright and Author Consent Form.</p> <p style="text-align: justify;">The authors will be responsible for any information written/informed/reported in the submitted manuscript. Although we do not require authors to submit the data collection documents and coded sheets used to do quantitative or qualitative analysis, we may request it at any time during the publication process, including after the article has been published. It is the author's responsibility to obtain signed permission from the copyright holder to use and reproduce text, illustrations, tables, etc., published previously in other journals, electronic or print media.</p> <p style="text-align: justify;">Conflict of interest statements will be published at the end of the article. If no conflict of interest exists, the following sentence will be used: "The authors declare no conflict of interest." Authors are required to disclose any sponsorship or funding received from any institution relating to their research. The editor(s) will determine what disclosures, if any, should be available to the readers.</p> <p style="text-align: justify;">Authors are not permitted to post the work on any website/blog/forum/board or at any other place, by any means, from the time such work is submitted to UMT journals until the final decision on the paper has been given to them. In case a paper is accepted for publication, the authors may not post the work in its entirety on any website/blog/forum/board or at any other place, by any means, till the paper is published in UMT Journals.</p> <p style="text-align: justify;">The authors may, however, post the title, author’s names and their affiliations and abstract, with the following statement on the first page of the paper - "The manuscript has been accepted for publication in UMT Journals". After the publication of the article, it may be posted anywhere with full journal citation included and it is encouraged by EER to do relevant efforts for dissemination of research.</p> <p style="text-align: justify;">All articles published in UMT journals are open-access articles, published and distributed under the terms of the Creative Commons Attribution 4.0 International License, which permits reproduction, distribution, derives and commercial use, provided the original work is properly cited and authors and the publisher is properly identified.</p> <p style="text-align: justify;">All authors who send their manuscripts to UMT Journals and whose articles are published will retain full copyright of their articles. Notwithstanding this, the author(s) grant UMT Journal(s), its editors, publishers, owners and other persons associated and other users/readers, a license to use the article as described in the License Agreement section below. In the future, UMT may reproduce printed copies of articles in any form. Without prejudice to the terms of the license given below, we reserve the right to reproduce the author's articles in this way.</p> <p style="text-align: justify;"><strong>Licencing Agreement</strong></p> <p style="text-align: justify;">The EER follows the licensing agreements by Creative Common Attribution 4.0, which indicates that:</p> <p style="text-align: justify;"><strong>Share -</strong>copy and redistribute the material in any medium or format</p> <p style="text-align: justify;"><strong>Adapt- </strong>remix, transform, and build upon the material for any purpose, even commercially.</p> <p style="text-align: justify;"><strong>Author E-prints</strong></p> <p style="text-align: justify;">UMT supports a range of author benefit policies with respect to providing authors with an e-print and the opportunity to purchase offprints. E-prints are sent out automatically to the corresponding authors of articles published ahead of print and in print issues. A link is provided allowing the author to download the article directly from the UMT journals website and forward the link onto their co-authors. Please refer to the manuscript submission guidelines for the policy of the journal in which you are interested in submitting or publishing your article.&nbsp;</p> [email protected] (Dr Hafeez-ur-Rehman) [email protected] (Miral Maryam) Sat, 30 Dec 2023 00:00:00 +0000 OJS 3.1.1.4 http://blogs.law.harvard.edu/tech/rss 60 Employment and Labour Mobility: Diasporas Slavery or Economic Empowerment https://ojs.umt.edu.pk/index.php/eer/article/view/173 <p>Most African countries face unemployment and poverty problems which may cause their citizens to migrate to seek employment. Questions are being asked whether such ventures are beneficial or an anticlimax for the seeker. The study interrogates the effects of unemployment on labour mobility on the one hand and labour mobility on economic development on the other. Effects of Remittances by Africans in the Diaspora from seven selected African countries: Nigeria, Ghana, Ethiopia, Kenya, Egypt, South Africa, and Morocco were also examined. The Hausman test is used to choose the best model, and the random model was found to be suitable for examining the causal relationships between the six variables in the panel data. Because their remittances have a significantly positive association with per capita income in these nations, the data demonstrate that labor mobility is not economic enslavement but rather economic empowerment. Nevertheless, it was discovered that the per capita income was negatively impacted by labor mobility. This is a confirmation that brain drain from these countries affects per capita income. Population growth was found to have a negative relationship with labour mobility. The study recommends the reversal of brain drain through efforts that will ensure political stability and also recommends that brain gain through remittances by Africans in the Diaspora should be effectively and efficiently utilized for economic growth. It also recommends the need for an effective policy on Diaspora issues to assist in curbing excessive immigration of African people from Africa. These findings are similar to that of Olayungbo and Adediran (2017) and Gnimassoun and Anyanwu (2019). The major contribution of this study to the existing literature is that labor mobility is not significantly determined by unemployment rather it is majorly due to political instability in the selected countries.</p> Abel Inabo Obaka; Ganiyat Adejoke Adesina-Uthman ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/eer/article/view/173 Mon, 15 Jan 2024 12:10:35 +0000 The Effect of Multidimensional Aspects of Monetary Policy of SBP on the Large Scale Manufacture https://ojs.umt.edu.pk/index.php/eer/article/view/1503 <p>The current study empirically investigated the multidimensional aspects of information pertaining to the monetary policy of the State Bank of Pakistan (SBP). This policy comprises monetary policy statements (MPS) published by Monetary Policy Committee (MPC) and policy rate. Monetary Policy Department (MPD), one of the core policy related departments of the State Bank of Pakistan (SBP), provides informative and analytical support for the formulation, dissemination, and implementation of the bank's monetary policy. The tone and effect of monetary policy communication was investigated on macroeconomic variables, fiscal variables, and financial variables, that is, inflation, policy rate, credit intake, LSM, imports, exports, and trade deficit. The analysis was carried out by using time series data collected from MPS over the time period 2005-2021. The empirical model was estimated by using Granger causality test and Autoregressive Distributed Lag (ARDL) technique. The results showed a significant and positive relationship between large scale manufacturing (LSM) and policy rate and vice versa. The study provided specific evidence to policymakers that would help them to improve and further enhance their transparency and credibility regarding monetary policy formulation. Furthermore, this research would also help the SBP to review the policies and incorporate key components and its imply that the SBP’s adoption of a market-based flexible exchange rate would increase the efficiency of the exchange rate channel used to transmit monetary policy.</p> Jawad Khan, Bushra Maryam Zahra, aqib . ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/eer/article/view/1503 Sat, 30 Dec 2023 00:00:00 +0000 EVALUATING THE IMPACT OF LOGISTICS MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE OF JUMIA COMPANY IN NIGERIA https://ojs.umt.edu.pk/index.php/eer/article/view/1799 <p>The current study comprehensively investigated the impact of logistics management practices adopted by Jumia digital logistics management company in Nigeria on the overall performance of the company. The study elicited primary data from 768 respondents with the help of online Google Forms. Moreover, the research also surveyed two distinct categories of participants, comprising 384 Jumia customers and 384 Jumia staff members. It employed SPSS Amos to analyze the collected data to construct a Structural Equation Model (SEM). The estimated results showed that all the four dimensions of logistics management– namely, inventory management (IVM), warehousing (WHS), transport logistics (TPL), and information flow management (INF) exert positive and significant impact on Jumia's organizational performance. Furthermore, the study also evaluated the impact of each logistics management practice on Jumia's performance indicators, which encompasses customer satisfaction (CUS), expansion of market share (MKS), and reduction of costs (COM). It also determined that, each of the logistics management practices has a positive<br>influence on all three organizational performance indicators, with the exception of TPL, which did not yield minimum cost. The study also identified a limited distribution of warehousing facilities across Nigeria for<br>Jumia. Consequently, it recommended that Jumia-Nigeria should expand its warehousing network nationwide. Moreover, the study sued for enhanced internet-based information flow management with tangible mass media channels, such as handbills. Lastly, it underscored the need for logistics<br>management companies to employ diverse strategies, given their complementary nature, to collectively enhance the company's overall performance</p> Victor Ushahemba Ijirshar, Emmanuel Aondongusha Asue, Joseph Tarlumun, Er Jay Adudu ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/eer/article/view/1799 Sat, 30 Dec 2023 00:00:00 +0000 The Impact of Globalization and its Components on Health Outcomes: A Global Panel Data Analysis https://ojs.umt.edu.pk/index.php/eer/article/view/1694 <p>This study investigated the impact of globalization and its three dimensions (economic, political, and social) on health by using a global panel data of 193 countries for the period 1971-2018. Health indicators incorporated into this study were life expectancy and infant mortality rate, while KOF index was taken as the indicator for globalization. Empirical analyses were performed by using ordinary least squares (OLS) and fixed-effects and random-effects models. Moreover, sensitivity analysis was used to check the robustness of the results. The results indicated that globalization, together with its three dimensions, has a positive impact on health, even if the analysis is controlled for population growth, physicians’ availability, and age dependency.</p> Samina Ali, Muhammad Tariq Majeed ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/eer/article/view/1694 Sat, 30 Dec 2023 00:00:00 +0000 An Application of Contingent Valuation Method for Reduction in Risk of Premature Mortality due to Air Pollution: A Case Study of Gujranwala, Pakistan https://ojs.umt.edu.pk/index.php/eer/article/view/1559 <p>In contemporary Anthropocene Epoch air pollution (AP) has crossed the environmental safety standards in most of the urban areas of Pakistan and resulting serious threats to human health. Gujranwala, one of the major cities of Pakistan, also faced many adverse health consequences in terms of respiratory and cardiac diseases, which resulted premature mortality. Contingent Valuation Method (CVM) opted to find trade-off between income and risk of premature mortality. Stratified Random Sampling technique followed to survey 174 respondents in total. &nbsp;Logistic regression was followed for estimation by taking WTP as dependent variable and it was estimated that household’s monthly income, health cost, air pollution effects health or not, air pollution result premature mortality or not had significant impact on WTP, while education and employment nature had insignificant impact. The monetary values estimated against each risk reduction option were as follows; PKR 387286 for 1-in1000, PKR 664000 for 5-in-1000 and PKR 931000 for 10-in-1000. A diminishing trend had been observed in trade-off among marginal resources forgone and minimization of risk associated to additional life.</p> Muhammad Tayyab, Abrar Ahmad ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/eer/article/view/1559 Sat, 30 Dec 2023 00:00:00 +0000 MODELLING VOLATILITY OF SUB-INDICES RETURNS OF NIGERIAN STOCK EXCHANGE USING GARCH MODEL. https://ojs.umt.edu.pk/index.php/eer/article/view/1349 <p><em>The paper examined the weekly returns of six sub-indices of the Nigeria Stock Exchange; Banking, Consumer goods, Insurance, Oil/Gas, Pension and Industrial goods indices from 2<sup>nd</sup> September 2020 to 28<sup>th</sup> February 2022<strong>. </strong>The returns were stationary at level and not normally distributed. Ljung-Box Q statistic and Ljung-Box Q<sup>2 </sup>statistics of power transformed using power 0.25, 0.5 and 0.75 for conditional heteroscedasticity for lags of 6, 12 and 20 indicates the presence of conditional heteroscedasticity in all indices returns. The study found that volatility was more persistent in APARCH model than the GARCH model. Comparatively, volatility was more persistent in Industrial goods index followed by Banking, Pension, Consumer goods, Insurance and Oil/Gas in GARCH model while volatility was more persistent in Consumer good index followed by Insurance, Pension, Industrial goods, banking and Oil/Gas in APARCH model respectively. However, Oil/Gas has the least volatile in both models. Also, there exist leverage effects in all the six indices' returns and the APARCH model is the best model for estimating and forecasting purposes for all the indices. </em></p> Agya Atabani Adi, Wunuji Emmanuel Adimani, Samuel Paabu Adda ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/eer/article/view/1349 Sat, 30 Dec 2023 00:00:00 +0000