Diminishing musharakah: Using a viable kind of equity financing instrument in managing the capital requirement of business
October 2009
This applied study was aimed at giving an insight to practitioners and academicians as well as investors and interested parties in understanding the characteristics and processes of an interesting “shari’ah-compliant” equity financing vehicle. Therefore, effort in identifying the related “shari’ah” concept and tenets as well as principles was closely studied in depth in...
Implementating construction projects on schedule - challenge in a developing economy
September 2009
Engineers all over the world have been trying to find out workable solutions to keep project time over-run under good control. The activity networking technique initiated in the USA in the late fifties gained large popularity. This was followed by the introduction of the computer and a large number of management software aiming at effective project control. The techniques are in use globally including in the...
An investigation of the relationship between interest rates and economic growth in Nigeria, 1970 - 2006
September 2009
The paper investigates the relationship between interest rates and economic growth in Nigeria, using time series analysis and annual data from 1970 - 2006. The co-integration and error correction model were used to capture both the long-run and short-run dynamics of the variables in the model. The empirical results indicate that real lending rates have significant effect on economic growth. There also exists...
Profitability through effective management of materials
September 2009
One of the problems facing Manufacturing Company is the growing trend towards the higher cost of materials and services and constant shut down of factory, which erode business profit. The paper focuses on how business firm can attain profitability through effective management of materials. The objective of this paper is to identity problems of material management, which if corrected can result in...
World food scenario: Emerging trends and issues
August 2009
Global food scenario has been under heavy odds. This has been due to spiraling food prices and scarcity of food grains world over. The result is that the specter of a hungry world that stood at 800 million, roiled into unrest and political upheavals. One of the contributory factors is more population and lesser output of food grains. It is also assumed that that the Asian Economies and the US have also...
International remittances and well-being in Sub-saharan Africa
August 2009
This paper examines the impact of international remittances on well-being in sub-Saharan Africa, using a set of cross-country data drawn from 38 countries and a multiple regression analysis. The result obtained from the analysis indicates that international remittances have to some extent contributed to the improvement of well-being in sub-Saharan Africa. However, for international remittances to continue to...
Entrepreneurship orientation among Indian professional students
August 2009
Entrepreneurship is a life moving force behind any economy. It is an accepted belief without entrepreneurial activities the process of industrialization and development is not possible. It includes the promotion for capital formation, creation of immediate large scale employment, promotion of balanced regional development, effective mobilization of capital and skill. Professional students getting education in...
Macro-economic level corporate governance and FDI in emerging markets: Is there a close relationship?
July 2009
Many experts believe that foreign direct investment (FDI) can provide substantial benefits to emerging market countries and help to speed up the economic development process. National accounts data also shows FDI to be the single largest component of capital inflows to the vast majority of emerging market countries. Thus, it is crucial to determine the drivers and determinants of inwards FDI flows to such...
Does energy consumption contribute to economic performance? Empirical evidence from Nigeria
July 2009
This article investigates the relationship between energy consumption and the Nigerian economy from the period of 1970 to 2005. The energy sources used to test for this relationship were crude oil, electricity and coal. By applying the co-integration technique, the results derived infer that there exists a positive relationship between current period energy consumption and economic growth. With the exception...
Sustainability of exchange rate policies and external public debt in the Mena region
July 2009
The conduct of exchange rate and fiscal policies in the small open Mena economies has recently become critical in determining those countries future economic and fiscal situation, due to the accumulation since the early 1990s of a sizable level of external debt, and the pursuit by some countries of a fixed exchange rate regime. This study presents thorough empirical analysis of the sustainability of exchange...
Price discovery, trading costs and insider trading: Evidence from a thin emerging market
June 2009
This research examines the impact of continuous trading system versus fixing system on liquidity, volatility, pricing error and order flows. Our results show that the continuous system show better price determination than the fixing system. This result is surprising. Indeed, temporal consolidation and the absence of effect of noisy orders should have led to a reverse conclusion. We suggest that in thin...
Foreign capital flows into India: Compositions, regulations, issues and policy options
June 2009
Existing studies reveals that the huge surge in international capital flows since early 1990s has created unprecedented opportunities for the developing countries like India to achieve accelerated economic growth. International financial institutions routinely advise developing countries to adopt policy regimes that encourage capital inflows. Since the introduction of the reform process in the early 1990s,...
Wagner’s law in Pakistan: Another look
January 2009
We used traditional as well as time series econometrics techniques to reinvestigate the application of the Wagner’s hypothesis to Pakistan (1960 -2007). Fiscal deficit and population growth were added to the functional form of the law.Wagner’s hypothesis does not hold for aggregate public spending and income for three periods (1961 - 2007, 1973 - 1990, 1991 - 2007). WL holds for the period 1981 -...
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