Unlike conventional finance institutions, Microfinance institutions (MFIs) strive for financial sustainability but also empowerment of the poor. This social nature of MFIs is mainly financed by subsidies from donors. This paper measures the extent of subsidization in MF sector for the years 2005...

The social nature of Microfinance Institutions (MFIs) is mainly financed by subsidies received from the donors. This paper investigates the relationship between the sustainability and the efficiency of microfinance. Using Yaron’s Subsidy Dependence Index (SDI) as a measure of sustainability, a...

Purpose: This paper aims to empirically examine the trade creation and diversion impacts on merchandise imports of Pakistan under the Pakistan–China Free Trade Agreement (FTA). The analysis of Pakistan’s preferential treatment with its largest trade partner as well as the most substantial...

This study presents the insightful and comprehensive empirical evidence on the impact of income and institutional governance on climate change based on panel data of 203 countries for time series of 1996 to 2017. We have divided the countries into sub-samples of 34 low-income, 101 middle-income...