Wage differential due to employer size is one of the key areas of interest in labor market resear... more Wage differential due to employer size is one of the key areas of interest in labor market research because a strong positive relationship between employer size and wages has been observed in developed and developing countries. It is, however, relatively neglected area of research in Pakistan. The purpose of present study is to investigate the employer size wage differential by looking at human capital factors. The study is based on standard methodology and estimates earning functions on Labor Force Survey (LFS) data for year 2007-08. Results clearly show that human capital investment has a bigger role in determining wages in the larger firms as compared to smaller firms. The main policy implications emanating from the analysis are the higher investment in skill which increases opportunities for workers in the labor market for higher wages and for jobs with good characteristics especially in large sized firms. The government policy towards education and skill formation needs serious reforms and better allocation of funds so that people get chance to enhance their skill level hence wages.
The paper explores the role of human and non-human capital factors in determining the earnings of... more The paper explores the role of human and non-human capital factors in determining the earnings of workers in Pakistan. The Labour Force Survey data 1993-94, which provides detailed information about workers, has been used for this analysis. Ordinary least squares estimation technique has been utilised for the analysis. The analysis is carried out separately for male and female workers. It is found that in human capital variables, education plays a dominant role in wage determination. In non-human capital factors, occupation and size of the establishments are found to be relevant variables. Other important variables include regional location and technical training. The sample selection bias has been observed for female workers whereas no problem has been observed for male workers, and the bias has been corrected by using the Heckman procedure, though both corrected and uncorrected results are reported. Important conclusions and policy implications are discussed at the end.
The extent to which the stock market provides a hedge to investors against inflation is examined ... more The extent to which the stock market provides a hedge to investors against inflation is examined for African stock markets. By employing parametric and nonparametric cointegration procedures, we show that the point estimates of the elasticities of stock prices with respect to consumer prices range from 0.015 for Tunisia to 2.264 for South Africa, evidence of a positive long-run relationship. Further, the time path of the response of stock prices to innovations in consumer prices exhibits a transitory negative response for Egypt and South Africa, which becomes positive over longer horizons: important indication that the stock market tends to provide a hedge against rising consumer prices in African markets.
For working out appropriate strategies and action programmes in order to fully utilize human reso... more For working out appropriate strategies and action programmes in order to fully utilize human resources for development and to advance the role and the status of women in society, it is essential that the statistical data collected on female participation in economic activity should reflect their position adequately and accurately in all the relevant sectors. In Pakistan, and other developing countries, the rural-agricultural segments, in the overall population have a large number of female workers who, directly and indirectly, contribute to agriculture, household and other unregistered rural activities. Similarly, in the urban organized sector, the work participation rate of women has registered a constant increase as a result of the social, economic and cultural changes which are taking place in these countries due to their development programmes.
The impact of human capital variables on the earnings of regular wage employees is explored in th... more The impact of human capital variables on the earnings of regular wage employees is explored in this paper. Besides education and experience, literacy index, technical training, and school quality are included in the earning functions estimated for individuals. The credentialist view that education does not improve productivity-that it rather provides positive signals about productivity-is also tested. The results are based on the Pakistan Integrated Household Survey 1995-96 data, which provides information on many aspects of the individual's characteristics missing in other surveys. The results of the study provide ample evidence in favour of human capital as a productivity-enhancing device for both male and female workers. All human capital variables are found to be statistically significant, having positive magnitude. The diploma effect is not very important for Pakistani workers, as only a few diploma dummies are statistically significant.
Occupational choice plays an important role in determining earnings and success in the labour mar... more Occupational choice plays an important role in determining earnings and success in the labour market. In the social structure of Pakistan, an occupation reflects the socioeconomic status of the individual. In this backdrop, the paper looks at the occupational structure and analyses how different characteristics help individuals to access jobs of their choice. The main issue discussed in the paper is how men and women have a different occupation distribution. Estimates are based on a multinomial log model of occupation choices for men and women, using the Pakistan Integrated Household Survey (PIHS) 2001-02 data. The empirical results show that individuals with high educational achievements choose high-ranking jobs. It is also noted that gender has a role in the labour market and males are sorted out in high-paying occupation. Occupational choice is influenced more by the human capital variables than by the individual characteristics. Among human capital variables, education has the strongest impact in the selection of an occupation of choice.
... engineers, educationist, and others. Is this true in case of Pakistan where due to fiscal pro... more ... engineers, educationist, and others. Is this true in case of Pakistan where due to fiscal problems, funding are cut for many development and non-development projects? ... that the unemployment and underemployment rates for age-group 16-25 are the highest not ...
This study is part of a series of studies commissioned by the International Labour Organization (... more This study is part of a series of studies commissioned by the International Labour Organization (ILO) to identify the incidence and nature of bonded labour in different sectors of the economy in Pakistan. This report focuses on bonded labour in the carpet sector. Its findings are based on information from primary and secondary sources using both qualitative and quantitative survey techniques. The carpet sector is one of the most important industries in Pakistan, providing jobs to million of people. Due to the industry's great potential to absorb labour and the availability of an abundant labour supply, the risk of exploitation is high. Information about bonded labour in the carpet industry is limited. This study was designed to reveal the existing social and economic relationship between employers and employees and to identify issues pertaining to bonded labour in Pakistan. In the process, an attempt was made to gauge the magnitude of bonded labour in the carpet industry. The study covers four provinces of the country, i.e., Punjab, NWFP, Sindh and Balochistan, and the analysis drew on terms of reference and consultations with ILO representatives. The report is organized in the following manner: Chapter Two reviews the carpet sector. Chapters Three, Four, Five, and Six present the objectives, methodology, sample coverage, and difficulties encountered, respectively. Chapters Seven to Eleven discuss the production process, hazards in carpetweaving, the carpet-weavers themselves, labour arrangements and working conditions, respectively. Chapters Twelve to Fourteen discuss entry in the carpet industry, terms and conditions, and characteristics of the main players, respectively. Chapters Fifteen and Sixteen investigate the system of advance and prevalence of bondage in the carpet industry, respectively. The final chapter presents policy recommendations. Chapter Two: A BROAD OVERVIEW Carpet weaving flourished during Moghal rule (16th to 19th century), after Emperor Akbar (1556 A.D. to 1605 A.D) brought Persian carpet weavers to India and settled them in Lahore. Under Moghal patronage, the carpet industry spread to other areas of India, including Agra and Delhi. The patterns and designs of carpets and rugs produced in Pakistan blend local and Persian and Turkish designs famous for their intricate and beautiful patterns 4. This blend has given a unique look to Pakistani carpets which are today demanded all over the world.
The paper explores the earnings differential between public and private sectors in Pakistan. The ... more The paper explores the earnings differential between public and private sectors in Pakistan. The private sector is further divided into formal and informal sectors for comparison purposes. It utilises an expanded version of the human capital model to determine important determinants of earnings in each sector. Using standard technique, the earnings are decomposed into two parts, i.e., differential due to personal characteristics and due to earnings structure of the particular sector. The Labour Force Survey 1996-97 is used for the analysis of wage differential. Results indicate that workers in public sector earn more than both private formal as well as informal sector workers. These earnings are higher due to their superior personal human capital endowment; however, the wage structure of the public sector is not helping them. The informal sector workers are earning lower than both public sector and private formal sector workers due to both personal characteristics and wage structure of the informal sector.
Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried t... more Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried to investigate this impact in different countries but mainly through the angle of macroeconomic shocks and most of the research has been in the developed world. This book is primarily written in the context of households in four South Asian countries where poverty and unemployment are already high and social safety nets are almost non-existent. The economies of these countries are unable to provide fiscal space to adequately finance social protection programs. Most of these countries borrow from IMF and World Bank to stabilize their economies and finance development projects. The conditionalities of multilateral institutions further reduce the fiscal space and tighten the financing of social protection programs. In these circumstances, any exogenous shock plays havoc to already vulnerable households and push them further into a poverty trap. The study looks into different dimensions of the financial crisis and its impact on household through a survey of 1000 households. It also analyzed the adequacy of social protection programs such as cash transfer programs in alleviating the poverty.
ARTICLE DETAILS ABSTRACT History: Accepted 22 April 2021 Available Online June 2021 The current r... more ARTICLE DETAILS ABSTRACT History: Accepted 22 April 2021 Available Online June 2021 The current research examines the effects of external and internal factors on the decisions related to the compensation policy subsequently influence turnover intentions of Telecom sector employees of Pakistan. The study was conducted in two phases. In the first phase, the factors effecting the compensation policy decision are generated through an extensive review of literature. This exhaustive list was tested through a rigorous process of a number of iterations of finding the most valued and considered factors in Pakistani telecom sector. This process was done with the top tier management including the human resource practitioners, as these are the people who significantly contribute in developing and finalizing decisions on the policy relating to compensation. For meeting with the objectives of current study, second phase consisted on identification of the impact of such decisions was tested on emp...
Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried t... more Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried to investigate this impact in different countries but mainly through the angle of macroeconomic shocks and most of the research has been in the developed world. This book is primarily written in the context of households in four South Asian countries where poverty and unemployment are already high and social safety nets are almost non-existent. The economies of these countries are unable to provide fiscal space to adequately finance social protection programs. Most of these countries borrow from IMF and World Bank to stabilize their economies and finance development projects. The conditionalities of multilateral institutions further reduce the fiscal space and tighten the financing of social protection programs. In these circumstances, any exogenous shock plays havoc to already vulnerable households and push them further into a poverty trap. The study looks into different dimensions of th...
Education has positive links with economic development as it raises the productivity of the work ... more Education has positive links with economic development as it raises the productivity of the work force. Beside private rates of returns, the social returns of education are also high. Because of the gains to society, education is subsidised in many countries. Pakistan, where only 2.5 percent of the GDP is spent on education, provides subsidised education in the form of a public school system.1 Government pays for the major expenditures such as construction of infrastructure for education and salaries to the teaching and related staff. Household cost is kept low to attract more people to send their children to schools. Therefore only a nominal tuition fee is being charged for attending these schools.
The paper explores the role of human and non-human capital factors in determining the earnings of... more The paper explores the role of human and non-human capital factors in determining the earnings of workers in Pakistan. The Labour Force Survey data 1993-94, which provides detailed information about workers, has been used for this analysis. Ordinary least squares estimation technique has been utilised for the analysis. The analysis is carried out separately for male and female workers. It is found that in human capital variables, education plays a dominant role in wage determination. In non-human capital factors, occupation and size of the establishments are found to be relevant variables. Other important variables include regional location and technical training. The sample selection bias has been observed for female workers whereas no problem has been observed for male workers, and the bias has been corrected by using the Heckman procedure, though both corrected and uncorrected results are reported. Important conclusions and policy implications are discussed at the end.
Wage differential due to employer size is one of the key areas of interest in labor market resear... more Wage differential due to employer size is one of the key areas of interest in labor market research because a strong positive relationship between employer size and wages has been observed in developed and developing countries. It is, however, relatively neglected area of research in Pakistan. The purpose of present study is to investigate the employer size wage differential by looking at human capital factors. The study is based on standard methodology and estimates earning functions on Labor Force Survey (LFS) data for year 2007-08. Results clearly show that human capital investment has a bigger role in determining wages in the larger firms as compared to smaller firms. The main policy implications emanating from the analysis are the higher investment in skill which increases opportunities for workers in the labor market for higher wages and for jobs with good characteristics especially in large sized firms. The government policy towards education and skill formation needs serious reforms and better allocation of funds so that people get chance to enhance their skill level hence wages.
The paper explores the role of human and non-human capital factors in determining the earnings of... more The paper explores the role of human and non-human capital factors in determining the earnings of workers in Pakistan. The Labour Force Survey data 1993-94, which provides detailed information about workers, has been used for this analysis. Ordinary least squares estimation technique has been utilised for the analysis. The analysis is carried out separately for male and female workers. It is found that in human capital variables, education plays a dominant role in wage determination. In non-human capital factors, occupation and size of the establishments are found to be relevant variables. Other important variables include regional location and technical training. The sample selection bias has been observed for female workers whereas no problem has been observed for male workers, and the bias has been corrected by using the Heckman procedure, though both corrected and uncorrected results are reported. Important conclusions and policy implications are discussed at the end.
The extent to which the stock market provides a hedge to investors against inflation is examined ... more The extent to which the stock market provides a hedge to investors against inflation is examined for African stock markets. By employing parametric and nonparametric cointegration procedures, we show that the point estimates of the elasticities of stock prices with respect to consumer prices range from 0.015 for Tunisia to 2.264 for South Africa, evidence of a positive long-run relationship. Further, the time path of the response of stock prices to innovations in consumer prices exhibits a transitory negative response for Egypt and South Africa, which becomes positive over longer horizons: important indication that the stock market tends to provide a hedge against rising consumer prices in African markets.
For working out appropriate strategies and action programmes in order to fully utilize human reso... more For working out appropriate strategies and action programmes in order to fully utilize human resources for development and to advance the role and the status of women in society, it is essential that the statistical data collected on female participation in economic activity should reflect their position adequately and accurately in all the relevant sectors. In Pakistan, and other developing countries, the rural-agricultural segments, in the overall population have a large number of female workers who, directly and indirectly, contribute to agriculture, household and other unregistered rural activities. Similarly, in the urban organized sector, the work participation rate of women has registered a constant increase as a result of the social, economic and cultural changes which are taking place in these countries due to their development programmes.
The impact of human capital variables on the earnings of regular wage employees is explored in th... more The impact of human capital variables on the earnings of regular wage employees is explored in this paper. Besides education and experience, literacy index, technical training, and school quality are included in the earning functions estimated for individuals. The credentialist view that education does not improve productivity-that it rather provides positive signals about productivity-is also tested. The results are based on the Pakistan Integrated Household Survey 1995-96 data, which provides information on many aspects of the individual's characteristics missing in other surveys. The results of the study provide ample evidence in favour of human capital as a productivity-enhancing device for both male and female workers. All human capital variables are found to be statistically significant, having positive magnitude. The diploma effect is not very important for Pakistani workers, as only a few diploma dummies are statistically significant.
Occupational choice plays an important role in determining earnings and success in the labour mar... more Occupational choice plays an important role in determining earnings and success in the labour market. In the social structure of Pakistan, an occupation reflects the socioeconomic status of the individual. In this backdrop, the paper looks at the occupational structure and analyses how different characteristics help individuals to access jobs of their choice. The main issue discussed in the paper is how men and women have a different occupation distribution. Estimates are based on a multinomial log model of occupation choices for men and women, using the Pakistan Integrated Household Survey (PIHS) 2001-02 data. The empirical results show that individuals with high educational achievements choose high-ranking jobs. It is also noted that gender has a role in the labour market and males are sorted out in high-paying occupation. Occupational choice is influenced more by the human capital variables than by the individual characteristics. Among human capital variables, education has the strongest impact in the selection of an occupation of choice.
... engineers, educationist, and others. Is this true in case of Pakistan where due to fiscal pro... more ... engineers, educationist, and others. Is this true in case of Pakistan where due to fiscal problems, funding are cut for many development and non-development projects? ... that the unemployment and underemployment rates for age-group 16-25 are the highest not ...
This study is part of a series of studies commissioned by the International Labour Organization (... more This study is part of a series of studies commissioned by the International Labour Organization (ILO) to identify the incidence and nature of bonded labour in different sectors of the economy in Pakistan. This report focuses on bonded labour in the carpet sector. Its findings are based on information from primary and secondary sources using both qualitative and quantitative survey techniques. The carpet sector is one of the most important industries in Pakistan, providing jobs to million of people. Due to the industry's great potential to absorb labour and the availability of an abundant labour supply, the risk of exploitation is high. Information about bonded labour in the carpet industry is limited. This study was designed to reveal the existing social and economic relationship between employers and employees and to identify issues pertaining to bonded labour in Pakistan. In the process, an attempt was made to gauge the magnitude of bonded labour in the carpet industry. The study covers four provinces of the country, i.e., Punjab, NWFP, Sindh and Balochistan, and the analysis drew on terms of reference and consultations with ILO representatives. The report is organized in the following manner: Chapter Two reviews the carpet sector. Chapters Three, Four, Five, and Six present the objectives, methodology, sample coverage, and difficulties encountered, respectively. Chapters Seven to Eleven discuss the production process, hazards in carpetweaving, the carpet-weavers themselves, labour arrangements and working conditions, respectively. Chapters Twelve to Fourteen discuss entry in the carpet industry, terms and conditions, and characteristics of the main players, respectively. Chapters Fifteen and Sixteen investigate the system of advance and prevalence of bondage in the carpet industry, respectively. The final chapter presents policy recommendations. Chapter Two: A BROAD OVERVIEW Carpet weaving flourished during Moghal rule (16th to 19th century), after Emperor Akbar (1556 A.D. to 1605 A.D) brought Persian carpet weavers to India and settled them in Lahore. Under Moghal patronage, the carpet industry spread to other areas of India, including Agra and Delhi. The patterns and designs of carpets and rugs produced in Pakistan blend local and Persian and Turkish designs famous for their intricate and beautiful patterns 4. This blend has given a unique look to Pakistani carpets which are today demanded all over the world.
The paper explores the earnings differential between public and private sectors in Pakistan. The ... more The paper explores the earnings differential between public and private sectors in Pakistan. The private sector is further divided into formal and informal sectors for comparison purposes. It utilises an expanded version of the human capital model to determine important determinants of earnings in each sector. Using standard technique, the earnings are decomposed into two parts, i.e., differential due to personal characteristics and due to earnings structure of the particular sector. The Labour Force Survey 1996-97 is used for the analysis of wage differential. Results indicate that workers in public sector earn more than both private formal as well as informal sector workers. These earnings are higher due to their superior personal human capital endowment; however, the wage structure of the public sector is not helping them. The informal sector workers are earning lower than both public sector and private formal sector workers due to both personal characteristics and wage structure of the informal sector.
Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried t... more Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried to investigate this impact in different countries but mainly through the angle of macroeconomic shocks and most of the research has been in the developed world. This book is primarily written in the context of households in four South Asian countries where poverty and unemployment are already high and social safety nets are almost non-existent. The economies of these countries are unable to provide fiscal space to adequately finance social protection programs. Most of these countries borrow from IMF and World Bank to stabilize their economies and finance development projects. The conditionalities of multilateral institutions further reduce the fiscal space and tighten the financing of social protection programs. In these circumstances, any exogenous shock plays havoc to already vulnerable households and push them further into a poverty trap. The study looks into different dimensions of the financial crisis and its impact on household through a survey of 1000 households. It also analyzed the adequacy of social protection programs such as cash transfer programs in alleviating the poverty.
ARTICLE DETAILS ABSTRACT History: Accepted 22 April 2021 Available Online June 2021 The current r... more ARTICLE DETAILS ABSTRACT History: Accepted 22 April 2021 Available Online June 2021 The current research examines the effects of external and internal factors on the decisions related to the compensation policy subsequently influence turnover intentions of Telecom sector employees of Pakistan. The study was conducted in two phases. In the first phase, the factors effecting the compensation policy decision are generated through an extensive review of literature. This exhaustive list was tested through a rigorous process of a number of iterations of finding the most valued and considered factors in Pakistani telecom sector. This process was done with the top tier management including the human resource practitioners, as these are the people who significantly contribute in developing and finalizing decisions on the policy relating to compensation. For meeting with the objectives of current study, second phase consisted on identification of the impact of such decisions was tested on emp...
Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried t... more Financial Crisis of 2008 has profoundly impacted the lives of people. A number of studies tried to investigate this impact in different countries but mainly through the angle of macroeconomic shocks and most of the research has been in the developed world. This book is primarily written in the context of households in four South Asian countries where poverty and unemployment are already high and social safety nets are almost non-existent. The economies of these countries are unable to provide fiscal space to adequately finance social protection programs. Most of these countries borrow from IMF and World Bank to stabilize their economies and finance development projects. The conditionalities of multilateral institutions further reduce the fiscal space and tighten the financing of social protection programs. In these circumstances, any exogenous shock plays havoc to already vulnerable households and push them further into a poverty trap. The study looks into different dimensions of th...
Education has positive links with economic development as it raises the productivity of the work ... more Education has positive links with economic development as it raises the productivity of the work force. Beside private rates of returns, the social returns of education are also high. Because of the gains to society, education is subsidised in many countries. Pakistan, where only 2.5 percent of the GDP is spent on education, provides subsidised education in the form of a public school system.1 Government pays for the major expenditures such as construction of infrastructure for education and salaries to the teaching and related staff. Household cost is kept low to attract more people to send their children to schools. Therefore only a nominal tuition fee is being charged for attending these schools.
The paper explores the role of human and non-human capital factors in determining the earnings of... more The paper explores the role of human and non-human capital factors in determining the earnings of workers in Pakistan. The Labour Force Survey data 1993-94, which provides detailed information about workers, has been used for this analysis. Ordinary least squares estimation technique has been utilised for the analysis. The analysis is carried out separately for male and female workers. It is found that in human capital variables, education plays a dominant role in wage determination. In non-human capital factors, occupation and size of the establishments are found to be relevant variables. Other important variables include regional location and technical training. The sample selection bias has been observed for female workers whereas no problem has been observed for male workers, and the bias has been corrected by using the Heckman procedure, though both corrected and uncorrected results are reported. Important conclusions and policy implications are discussed at the end.
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