Journal of Quantitative Methods https://ojs.umt.edu.pk/index.php/jqm <p><em>Journal of Quantitative Methods&nbsp;</em>(<em>JQM</em>) is a multidisciplinary bi-annual journal launched in 2017 by the Department of Quantitative Methods, School of Business and Economics (SBE), University of Management and Technology (UMT), Lahore, Pakistan.&nbsp;<em>JQM</em>&nbsp;provides new insights and fosters critical debate about the role of data analysis in business and economics.<em>JQM</em>&nbsp;is a double blind peer-reviewed publication dedicated to the exchange of the latest academic research and practical information on all the aspects of quantitative methods in business and social sciences. The journal publishes original research papers, reviews and case studies by academicians and professionals.</p> en-US <p>UMT journals follow an open-access publishing policy and full text of all articles is available free, immediately upon acceptance. Articles are published and distributed under the terms of the CC BY-SA 4.0 International License. Thus, work submitted to UMT Journals implies that it is original, unpublished work of the authors; neither published previously nor accepted/under consideration for publication elsewhere. On acceptance of a manuscript for publication, a corresponding author on the behalf of all co-authors of the manuscript will sign and submit a completed&nbsp;Author Consent Form, and&nbsp;Copyright Form.</p> <p>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>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>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>The authors may, however, post the title, authors’ 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 publication of the article, it may be posted anywhere with full journal citation included.</p> <p>All articles published in UMT journals are open-access articles, published and distributed under the terms of the Creative Commons Attribution-ShareAlike 4.0 International License which permits remixing, transformation, or building upon the material, provided the original work is appropriately cited mentioning the authors and the publisher, as well as the produced work is distributed under the same license as the original.</p> <p>In the future, UMT may reproduce printed copies of articles in any form. Without prejudice to the terms of the license given below, we retain the right to reproduce author's articles in this way.</p> <h3>Brief Summary Of The License Agreement</h3> <p>By submitting your research article(s) to UMT Journal(s), you agree to Creative Commons Attribution-ShareAlike 4.0 International License which states that:</p> <p>Anyone is free:</p> <p>o To copy and redistribute the material in any medium or format<br>o To remix, transform, or build upon the material for any purpose, even commercially</p> <p>Provided:</p> <p>o The author and the publisher have been appropriately credited<br>o The link to the license is provided<br>o Indicated if any changes were made<br>o The material produced is distributed under the same license as the original</p> <h3>Author E-prints</h3> <p>UMT supports a range of policies to benefit the authors, with respect to providing them with an e-print. E-prints are sent out automatically to the corresponding author 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 website and forward the link to their co-authors.</p> editorasst.jqm@umt.edu.pk (Editorial Office) editor.jqm@umt.edu.pk (Sajid Ali) Tue, 03 Sep 2019 12:05:34 +0200 OJS 3.1.1.4 http://blogs.law.harvard.edu/tech/rss 60 The 2008 Crisis: An International Finance (Over)view https://ojs.umt.edu.pk/index.php/jqm/article/view/98 <p><em>The aim of this paper is to present an international finance view of the 2008 crisis. By relying on four traditional international finance classes of models (the intertemporal current account approach, two exchange rate risk premium models and open-economy economic policy models), we addresed, theoretically, the importance of macro-finance aspects of the episode such as portfolio reallocation and its aggregate effects, using data for supporting the claims. Moreover, by telling the story of the crisis, divided in three periods (Great Moderation, Great Recession and Euro Crisis) we provided an overview of the deployments as well as an understanding of the development from a slightly point of view. </em></p> João Costa-Filho ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jqm/article/view/98 Sat, 31 Aug 2019 00:00:00 +0200 Statistical Analysis of Location Parameter of Inverse Gaussian Distribution Under Noninformative Priors https://ojs.umt.edu.pk/index.php/jqm/article/view/101 <p><em>Bayesian estimation for location parameter of the inverse Gaussian distribution is presented in this paper. Noninformative priors (Uniform and Jeffreys) are assumed to be the prior distributions for the location parameter as the shape parameter of the distribution is considered to be known. Four loss functions: Squared error, Trigonometric, Squared logarithmic and Linex are used for estimation. Bayes risks are obtained to find the best Bayes estimator through simulation study and real life data</em></p> Nida Khan, Muhammad Aslam ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jqm/article/view/101 Sat, 31 Aug 2019 00:00:00 +0200 Threshold Effects of Institutional Quality in the Infrastructure-Growth Nexux https://ojs.umt.edu.pk/index.php/jqm/article/view/100 <p><em>This study estimates the threshold level of institutional quality that will ensure the efficient use of infrastructure in stimulating growth in Sub-Saharan Africa based on panel data from 41 countries in the region between 1996 and 2015. It employs a dynamic panel threshold regression model which is derived from the New Institutional Economics theory and this is estimated using the first-differenced Generalized Method of Moments estimator. Results reveal that the relationship between infrastructure and growth is non-linear which provides support for the use of a threshold regression model, with institutional quality serving as the threshold variable. In terms of the threshold level, the findings show that the index of institutional quality that will ensure the efficient use of infrastructure in stimulating growth is 0.410. The study also finds that, on average, countries in the region operate below this threshold level, hence their poor growth. The conclusion that is drawn from the analysis is that poor or low institutional quality is one of the factors hampering the growth of countries in the SSA region. A major limitation of the study is that the estimator employed for the threshold analysis is developed for models with single threshold value only and so does not allow for multiple threshold values. Thus, it is recommended that governments in the region need to formulate and implement policies targeted at improving the level of institutional quality in their countries.</em></p> Eyitayo O. Ogbaro ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jqm/article/view/100 Sat, 31 Aug 2019 00:00:00 +0200 The Past, Present, and Future of FDI: Towards a better Global Economics https://ojs.umt.edu.pk/index.php/jqm/article/view/99 <p><em>We document past, present, and future of FDI trend in recent decades that goes substantially beyond the advanced economies. This rigorous study also examines the influence of FDI on economic growth using macro variables for a global perspective. Six macro variables namely, FDI, physical capital, trade,</em> <em>human capital, labor force, and infrastructure were used in this study. We did a panel analysis on data from 2002 to 2017 and used rigorous</em><em> two-way fixed effect model</em><em>. This study finds that both FDI and trade openness enhance economic growth. Open door policies are more beneficial for the entire world; capital also plays a significant role in this process. Further, FDI plays a role with human capital but vocational training, skilled labor force and education are the most important factors to attract FDI. In the last decade, overall </em><em>sub-Saharan African,</em> <em>EU and Central Asia, </em><em>Latin </em><em>America and Caribbean</em><em> regions have observed a significant economic growth through FDI. The future of FDI in a high populated area is very gleaming. The overall result indicates that FDI accelerates economic growth in the globe.</em></p> Sana Ullah, Ahmed Usman, Muhammad Imran ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jqm/article/view/99 Sat, 31 Aug 2019 00:00:00 +0200 Determinants of Dropout and Child School Enrollment: A Case Study from Rural Islamabad https://ojs.umt.edu.pk/index.php/jqm/article/view/102 <p><em>Education is an important pillar for the development of any society. Generally, school enrollment in developing countries is observed very low compared to the developed countries and the situation is further worsened by the high dropout rate. The current study investigates the major factors responsible for high dropouts in Islamabad, Pakistan, particularly in rural areas. For this purpose, the primary data have been obtained through a detailed questionnaire collecting information on child socioeconomic, household, cultural, and other characteristics. For modeling purposes, Probit model is used to investigate the effects of various factors on high child dropout rate. The results revealed that besides the distance from school to home, financial constraints are the most important reason for dropping out. Moreover, the education of father, age of the child and the gender of the child are also highly significant variables that determine the probability of a child dropout.</em></p> Uzma Naz, Zainab Ejaz, Naveed Khan ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jqm/article/view/102 Sat, 31 Aug 2019 00:00:00 +0200 Exchange Rate Uncertainty and Workers’ Remittances: Empirical Bayesian Approach https://ojs.umt.edu.pk/index.php/jqm/article/view/97 <p><em>Exchange rate is one of the important determinates of worker’s remittances to a country. Level of exchange rate as well as any fluctuation in it influences the volume of workers’ remittances. The present study uses data of workers’ remittances from ten major countries to Pakistan for the period 1973 to 2012. Uncertainty of exchange rate is estimated through GARCH model. We use Empirical Bayesian approach to compute posterior information (estimates, for which, the GMM estimates are used as prior in order to avoid biasness and inconsistency due to the presence of endogeniety in our model. The Empirical Bayesian estimates are found to be more efficient in terms of significance and correct signs of modeled variables. The findings suggest a significant role of home and host country characteristics in most of the cases. The findings also reveal a negative impact of exchange rate uncertainty on the inflow of remittances. The political instability reveals an insignificant impact on remittances. The study recommends different policy options for different host countries. Apart from the Middle East, the policy for other regions (like USA, Canada, and Germany etc.) must be considered separately to encourage inflow of remittances. Appropriate stabilization measures have to be taken on priority basis to curtail volatility of exchange rates and to ascertain regular inflow of remittances.&nbsp; </em></p> Muhammad Jalib Sikandar, Hafiz Muhammad Yasin, Malik Muhammad ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jqm/article/view/97 Sat, 31 Aug 2019 00:00:00 +0200 Drivers of Green Supply Chain Management Practices and their Impact on Firm Performance: A Developing Country Perspective https://ojs.umt.edu.pk/index.php/jqm/article/view/22 <p><em>The purpose of this paper is to identify the drivers of Green Supply Chain Management (GSCM) practices among the manufacturing firms of a developing country, and to examine the impact of GSCM practices on firms’ economic and environmental performance. A structural equation model is developed to study the hypothesized relationships between three drivers and GSCM practices. Furthermore, the relationship between GSCM practices and firm’s economic and environmental performance is also investigated. A sample of manufacturing firms is taken from the companies listed in the local stock exchange. Cross-sectional data of 80 responses from these manufacturing firms is collected. The developed model is tested through Partial Least Square Structural Equation Modeling (PLS-SEM) technique. Results show that customer’s pressure and firm’s internal drive (enviropreneurship) positively impacts the adoption of GSCM practices whereas the relationship between governmental legislation GSCM practices adoption is not significant. GSCM practices positively impact the supply chain buying firm’s economic and environmental performance.</em></p> Haris Aslam, Kamran Rashid, Asadur Rahman Wahla, Uzma Tahira ##submission.copyrightStatement## https://ojs.umt.edu.pk/index.php/jqm/article/view/22 Wed, 13 Mar 2019 10:45:13 +0100 An Empirical Investigation on the Relationship between Onshore and Offshore Indian Rupee Market https://ojs.umt.edu.pk/index.php/jqm/article/view/18 <p><em>Exchange rate movements have important ramifications for the economy’s business cycle, trade and capital flows. For India, the exchange rates fluctuations have consequences for being competitive in terms of international trade and capital flows, tourist destination and for maintaining a healthy international reserve. This paper attempts to explore the relationship between rupee-dollar exchange rate in spot market, domestic forward market and off-shore forward i.e. non-delivery forward market (Singapore) to understand the information flow in between these markets. Suitable econometric techniques including causality analysis was used for the study for the period 2002 to 2014 after considering structural breaks and sub period analysis was also done. </em><em>It was found that the relationship between all three markets is quite dynamic with evidences of causality in one sub period and reverse direction or no causality in other sub periods, conditional upon intervention done by RBI to curb the volatility and on various macroeconomic shocks such global financial crisis.</em></p> Udit Kumar, Gautam Jain ##submission.copyrightStatement## https://ojs.umt.edu.pk/index.php/jqm/article/view/18 Wed, 13 Mar 2019 10:31:52 +0100 Structural Equation Modelling of Relationship between Teachers’ Capacity Building and Students’ Academic Performance in Secondary Schools in Kwara State, Nigeria https://ojs.umt.edu.pk/index.php/jqm/article/view/16 <p><em>Unarguably, students’ academic success rests on the learning experiences derived from their teachers via teaching and learning processes in the classroom. Teachers are an important tool for implementing the school programs to achieve school success. The human capital development is regarded as a way of building the capacity of teachers in the school system, thereby strengthening their knowledge and skills. In the light of this, this study examined the impact of teachers’ capacity building on academic performance. Methodologically, this study adopts a correlation survey method to establish the links between constructs of the study. Stratified and quota sampling techniques were used to select 183 respondents for the study. Questionnaire method is used for the study. Students’ results in five subjects (Mathematics, English, Biology, and Economics) were collected to measure students’ academic performance. The data collected were analyzed using Smart PLS software to model the nexus among the constructs. Findings revealed that capacity building are provided moderately as perceived by the teachers. Also, results established that teachers who went through capacity building programs are equipped with modern techniques of teaching, thereby positively influence students’ academic achievement. In conclusion, this study concluded that training and re-training of teachers is an essential factor for determining students’ success. It was recommended that capacity building should be constantly provided for teachers with a view to boost their morale and makes them efficient and effective. Improved budgetary allocations should be made by government for teachers to attend various capacity building programs. Private and individuals should be involved in providing capacity building for teachers. Lastly, no teacher should be left out in capacity building programs as teachers remain the bedrock to students’ success. </em></p> Yusuf Suleiman, Zahyah Bt Hanafi, Muhajir Bin Taslikhan ##submission.copyrightStatement## https://ojs.umt.edu.pk/index.php/jqm/article/view/16 Wed, 13 Mar 2019 10:28:31 +0100 Energy Consumption and Economic Growth: Evidence from Developed and Emerging Markets https://ojs.umt.edu.pk/index.php/jqm/article/view/7 <p><em>This research analyzed the effect of energy consumption on economic growth using neo-classical one-sector aggregate production function with panel data from Emerging Markets and Developed countries over the period 2000–2013. This study has applied dynamic panel method in the form of two-step panel Generalized Method of Moments (both difference and system) GMM. The findings of this research exposed that both gross fixed capital formation and energy consumption have significant and positive effect on economic growth in both Developed and Emerging Market countries. In addition, labour force has been found to influence positively on economic growth in the group of Developed Market countries. However, labour force established the significant as well as negative effect on economic growth in the Frontier Market countries. Since the findings revealed that all the sampled countries are energy dependent, therefore, their policy makers should continue to promote the development of energy infrastructure with the aim to gain higher economic growth by making effective energy policies. This can be achieved through the allocation of more resources to the development of new sources of energy and ensure sustainability of energy use.</em></p> Abdullahi Yahya Zakari, Inuwa Nasiru, Sagir Adamu ##submission.copyrightStatement## https://ojs.umt.edu.pk/index.php/jqm/article/view/7 Wed, 13 Mar 2019 10:10:44 +0100