To predict the impact of emigration on labour displacement and factor rewards, a translogarithmic production function has been used. The estimation determined that unskilled emigrants and skilled and unskilled non-migrants have a complementarity with capital. While skilled emigrants and capital...

As the wind of globalization blows, trade barriers are being dismantled worldwide, with the result that goods and services, technology, capital, labor, information and even firms are now moving more freely than ever before, crossing even national boundaries. Every country’s economic survival...

This paper examines the impact of labour emigration on the wages of both the skilled and unskilled workers. The paper is based on a 3 X 3 trade-theoretic model, where a subset of the goods produced are traded at internationally fixed prices. The results of the model hinge crucially on the...

Given the precarious balance of payments and debt situation, unrecorded flows of capital cause serious welfare losses. In order to formulate realistic policies, it is essential to have a knowledgeable account of such flows. Using different methodologies, the present paper estimates illicit...

This paper addresses a methodological technique of leave-many-out cross-validation for choosing cutoff values in stepwise regression methods for simplifying the final regression model. A practical approach to choose cutoff values through cross-validation is to compute the minimum Predicted...

Historically, Pakistan’s economic growth record, especially of the manufacturing sector, has been quite satisfactory. However, since the late 1980s Pakistan has been facing a slow growth of manufacturing industries, particularly of the large-scale manufacturing units. This has led some...

Whereas the policy incentives were designed to promote exports from Pakistan, the incentive system instead led to illicit export practices, i.e., export overinvoicing due to the weaknesses of implementation. Such practices resulted in a significant financial loss to the country and undermined...