This article examines the link between agricultural raw material exports and agricultural raw mat... more This article examines the link between agricultural raw material exports and agricultural raw material imports in the developing economy like Pakistan. Using the annual data from 1971-2007, this study finds that agricultural raw material exports and agricultural raw material imports are cointegrated. There is unidirectional causality from agricultural raw material imports to agricultural raw material exports in the long run and no causality in either direction in the short run.
This study evaluates the ability of the Fama and French Three Factor model to explain a cross sec... more This study evaluates the ability of the Fama and French Three Factor model to explain a cross section of stock returns in the Karachi Stock Exchange (KSE). Following Fama and French factor approach, we sorted six portfolios by size and book to market. The sorted portfolios were constituted to represent stocks from each and every sector of KSE. Using Daily returns from January 2003 to December 2007, the excess returns for each portfolio were regressed on market, size and value factors. Our findings, in general, supported the notion of the three factor model. The three factor model was able to explain the variations in returns for most of the portfolios and the results remain robust when the sample was reduced to control for the size effect. Our findings are consistent with most of the studies that suggested the validity of the three factor model in emerging markets. These results warrant for the inclusion of size and value factors for valuation, capital budgeting and project appraisals, thus, having substantial implications for fund managers, analysts and investors. JEL Classification: G11, G12, G14. Abstract This study attempts to discern the relationship between economic and financial development in Pakistan for the period 1973 -2006. Vector error-correction modeling is used to identify the causality between economic and financial development and the exogeneity of the variable(s) in the model. These error correction terms have been derived from Johansen's multivariate cointegrating procedure. Results indicate that, in the long run, economic development causes financial development. Furthermore, the real output variable is found to be exogenous. Thus, financial development is seen to be ineffective in terms of economic development determination in Pakistan. JEL Classification: C59, O16.
MicroRNA-101 (miR-101) expression is negatively associated with tumor growth and proliferation in... more MicroRNA-101 (miR-101) expression is negatively associated with tumor growth and proliferation in several solid epithelial cancers. Enhancer of zeste homolog 2 (EzH2) appears to be a functional target of miR-101. We explore the role of miR-101 and its interaction with EzH2 in epithelial ovarian carcinoma (EOC). In situ hybridization (ISH) for miR-101 was performed on EOC patient tissues and normal controls. EOC cell lines were transfected with miR-101 and subjected to growth analysis and clonogenic assays. Cell motility was assessed by Boyden chamber and wound-healing assays. P21(waf1/cip1) and EzH2 interaction was assessed by Chromatin Immunoprecipitation (ChIP) assay in MDAH-2774 cells. SCID mice were assessed for tumor burden after injection with miR-101 or control vector-treated MDAH-2774 cells. ISH analysis revealed a decrease in miR-101 expression in EOC compared with normal tissue. MiR-101 re-expression in EOC cell lines resulted in increased apoptosis, decreased cellular proliferation, invasiveness, and reduced growth of tumor xenografts. CHIP assays revealed that re-expression of miR-101 inhibited the interaction of EzH2 with p21(waf1/cip1) promoter. MiR-101 re-expression appears to have antitumor effects, providing a better understanding of the role of miR-101 in EOC.
PurposeThe purpose of this paper is to construct a financial development index (FDI) for the Ind... more PurposeThe purpose of this paper is to construct a financial development index (FDI) for the Indian economy and also examine the relationship between FDI and economic growth. Design/methodology/approachAugment Dickey Fuller, Phillips Perron and Ng Perron ...
The primary objective of this study was to define the incidence, disability, and death associated... more The primary objective of this study was to define the incidence, disability, and death associated with stroke in the Buffalo metropolitan area and Erie County. This area has the highest stroke rate in New York State and therefore represents an ideal site to develop a successful model for prevention and management of stroke. A cross-sectional design to study all new and recurrent strokes that occurred in the calendar year 2000 in the geographical location of Buffalo metropolitan area and Erie County. PATIENTS AND DATA COLLECTED: A retrospective review of an estimated 5,000 patients with new stroke will be performed at regional hospitals and the coroner's office to determine the stroke subtypes, cerebrovascular risk factors, diagnostic investigations, treatment provided, and outcome. The total population residing in Buffalo in the year 2000 is available through the recent census. The study will also evaluate the quality of care provided for stroke patients including effectiveness of primary and secondary stroke prevention measures within this geographical region. We believe that this information will assist in allocation of resources and implementation of steps to improve stroke prevention and treatment.
The objective of this study is to determine long run relationship between the natural resources a... more The objective of this study is to determine long run relationship between the natural resources and economic growth in the case of Pakistan. The robustness among the variables has determined by using the JJ cointegration approach and autoregressive distributed lag (ARDL) approach to cointegration. The results of both methods of cointegration show that the long run relationship exists and natural resources are positively associated with economic growth. Hence there is need to give special attention to maintain natural resources remain productive and contributing in the process of economic growth.
This article examines the link between agricultural raw material exports and agricultural raw mat... more This article examines the link between agricultural raw material exports and agricultural raw material imports in the developing economy like Pakistan. Using the annual data from 1971-2007, this study finds that agricultural raw material exports and agricultural raw material imports are cointegrated. There is unidirectional causality from agricultural raw material imports to agricultural raw material exports in the long run and no causality in either direction in the short run.
This study evaluates the ability of the Fama and French Three Factor model to explain a cross sec... more This study evaluates the ability of the Fama and French Three Factor model to explain a cross section of stock returns in the Karachi Stock Exchange (KSE). Following Fama and French factor approach, we sorted six portfolios by size and book to market. The sorted portfolios were constituted to represent stocks from each and every sector of KSE. Using Daily returns from January 2003 to December 2007, the excess returns for each portfolio were regressed on market, size and value factors. Our findings, in general, supported the notion of the three factor model. The three factor model was able to explain the variations in returns for most of the portfolios and the results remain robust when the sample was reduced to control for the size effect. Our findings are consistent with most of the studies that suggested the validity of the three factor model in emerging markets. These results warrant for the inclusion of size and value factors for valuation, capital budgeting and project appraisals, thus, having substantial implications for fund managers, analysts and investors. JEL Classification: G11, G12, G14. Abstract This study attempts to discern the relationship between economic and financial development in Pakistan for the period 1973 -2006. Vector error-correction modeling is used to identify the causality between economic and financial development and the exogeneity of the variable(s) in the model. These error correction terms have been derived from Johansen's multivariate cointegrating procedure. Results indicate that, in the long run, economic development causes financial development. Furthermore, the real output variable is found to be exogenous. Thus, financial development is seen to be ineffective in terms of economic development determination in Pakistan. JEL Classification: C59, O16.
MicroRNA-101 (miR-101) expression is negatively associated with tumor growth and proliferation in... more MicroRNA-101 (miR-101) expression is negatively associated with tumor growth and proliferation in several solid epithelial cancers. Enhancer of zeste homolog 2 (EzH2) appears to be a functional target of miR-101. We explore the role of miR-101 and its interaction with EzH2 in epithelial ovarian carcinoma (EOC). In situ hybridization (ISH) for miR-101 was performed on EOC patient tissues and normal controls. EOC cell lines were transfected with miR-101 and subjected to growth analysis and clonogenic assays. Cell motility was assessed by Boyden chamber and wound-healing assays. P21(waf1/cip1) and EzH2 interaction was assessed by Chromatin Immunoprecipitation (ChIP) assay in MDAH-2774 cells. SCID mice were assessed for tumor burden after injection with miR-101 or control vector-treated MDAH-2774 cells. ISH analysis revealed a decrease in miR-101 expression in EOC compared with normal tissue. MiR-101 re-expression in EOC cell lines resulted in increased apoptosis, decreased cellular proliferation, invasiveness, and reduced growth of tumor xenografts. CHIP assays revealed that re-expression of miR-101 inhibited the interaction of EzH2 with p21(waf1/cip1) promoter. MiR-101 re-expression appears to have antitumor effects, providing a better understanding of the role of miR-101 in EOC.
PurposeThe purpose of this paper is to construct a financial development index (FDI) for the Ind... more PurposeThe purpose of this paper is to construct a financial development index (FDI) for the Indian economy and also examine the relationship between FDI and economic growth. Design/methodology/approachAugment Dickey Fuller, Phillips Perron and Ng Perron ...
The primary objective of this study was to define the incidence, disability, and death associated... more The primary objective of this study was to define the incidence, disability, and death associated with stroke in the Buffalo metropolitan area and Erie County. This area has the highest stroke rate in New York State and therefore represents an ideal site to develop a successful model for prevention and management of stroke. A cross-sectional design to study all new and recurrent strokes that occurred in the calendar year 2000 in the geographical location of Buffalo metropolitan area and Erie County. PATIENTS AND DATA COLLECTED: A retrospective review of an estimated 5,000 patients with new stroke will be performed at regional hospitals and the coroner's office to determine the stroke subtypes, cerebrovascular risk factors, diagnostic investigations, treatment provided, and outcome. The total population residing in Buffalo in the year 2000 is available through the recent census. The study will also evaluate the quality of care provided for stroke patients including effectiveness of primary and secondary stroke prevention measures within this geographical region. We believe that this information will assist in allocation of resources and implementation of steps to improve stroke prevention and treatment.
The objective of this study is to determine long run relationship between the natural resources a... more The objective of this study is to determine long run relationship between the natural resources and economic growth in the case of Pakistan. The robustness among the variables has determined by using the JJ cointegration approach and autoregressive distributed lag (ARDL) approach to cointegration. The results of both methods of cointegration show that the long run relationship exists and natural resources are positively associated with economic growth. Hence there is need to give special attention to maintain natural resources remain productive and contributing in the process of economic growth.
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