Frequent “crashes” of the stock market reported during the year 1994 suggest that the Karachi bourse is rapidly converting into a volatile market. This cannot be viewed as a positive sign for this developing market of South Asia. Though heavy fluctuations in stock prices are not an unusual...

Cross-section and time-series data from the Panel Study of Income Dynamics from 1967 to 1981 are pooled generating a data set large enough to allow calculation of union-nonunion wage differentials for as many as 260 subgroups in the population. No previous study has examined as many groups. The...

In the last few years, significant amount of research has produced evidence in support of the signaling, credential or "sheepskin" effects in rates of return to schooling for studies of the developed as well as developing countries. An example of the former is the seminal empirical work by...

Pakistan is today, a case study in ethnic strife. Carved out of pre- Independence India in 1947, the country is home to five broad ethnic groups: Punjabis (the dominant segment of the population), Balochis, Pathans and Sindhis. Each has a distinctive culture and language. In spite of broad...

In the last few years, significant amount of research has produced evidence in support of the signaling, credential or "sheepskin" effects in rates of return to schooling for studies of the developed as well as developing countries. An example of the former is the seminal empirical work by...

Relatively few articles have examined the rates of return to education in Pakistan in recent years. This paper uses data from the 2001-02 Pakistan Integrated Household Survey to compute returns from different levels of education. Returns to education are found to be higher for females than for...