Risk management is of vital importance in Islam and Takāful provides a way to manage risks in business according to Sharī’ah principles. This research paper attempts to identify various types of risks involved in Takāful business that affect operational and investment functions of Takāful...

Purpose – The purpose of this paper is to attempt to see the effectiveness of operational and transformational standards raised by joint working group of Islamic Financial Services Board (IFSB) and International Association of Insurance Supervisors (IAIS) as well as respondents' perceptions...

There is a global interest in Islamic finance in general and Takāful in particular. The main feature that differentiates Takāful services from conventional ones is Sharī‟ah compliance nature of these services. Investors are taking keen interest in this potential market as Muslims constitute...

The paper examines the effect of real devaluation on economic growth. In the empirical model we include few other theoretically justified variables e.g., money supply, foreign remittances, and government spending as they appear relevant for Pakistan. The ADF unit root test is used for...

This study examines the Purchasing Power Parity (PPP) hypothesis in case of India for her five major trading partners over the period of 1991M<Subscript>1</Subscript>–2009M<Subscript>2</Subscript>. The study used the DF-GLS unit root test and threshold autoregressive (TAR) model as well as momentum-TAR (M-TAR) models for empirical...</subscript></subscript>

This paper contributes to the literature by determining macroeconomic drivers of brain drain in case of Pakistan over the period of 1972-2012 using the ARDL bounds testing approach. Our findings show that economic growth and financial development have negative impact on brain drain. However,...

The present study investigates the relationship between natural gas consumption and economic growth using Cobb-Douglas production function by incorporating exports, capital and labor as additional factors of production. We apply the ARDL bounds testing approach to test the existence of long run...

In this paper, we investigate whether or not nominal devaluation leads to real devaluation in Laos by using the ARDL bounds testing and the Granger causality test in a VECM framework. Our empirical evidence shows that nominal devaluation Granger causes real devaluation in short run and long run....

This paper empirically parallels two approaches: The first one follows the studies of Halicioglu (2009), Jalil and Mahmud (2009), and Jayanthakumaran et al. (2012) which attempt to introduce energy consumption and trade into the environmental function (related carbon dioxide ‘CO2’ emissions...

The present study reinvestigates the impact of corruption on economic growth by incorporating financial development and trade openness in growth model in case of Pakistan.We have used time series data over the period of 1987–2009. We have applied s