This paper empirically examines the impact of productivity shocks on nominal exchange rate movements of Pak-rupee against currencies of its major trading partners using quarterly time-series data for the flexible exchange rate period (1983Q1 to 2006Q4). By taking into account the endogeneity...

This paper explores the empirical association between democracy and per capita output growth in Pakistan using data for the period 1947 to 2006. The findings of the paper indicate a weak negative association between democracy and output growth. Consistent with some current empirical literature,...

The paper empirically evaluates growth effects of real exchange rate misalignments in Pakistan for the flexible exchange rate period (1983Q1 to 2005Q4). First, real exchange rate misalignment is calculated as the deviation of the actual real exchange rate from its equilibrium value. It is found...

The paper empirically examines the relationship between trade openness and the level of democracy in Pakistan using annual time-series data for the period 1947-2009. The analysis shows that trade openness positively affects democracy in Pakistan. The results are robust to controlling for other...

This study uses a structural model to analyze the co-determinants of capital structure and stock returns. Applying a generalized method of moments (GMM) model to a panel dataset for 100 nonfinancial firms for the period 2006– 10, our results indicate that both leverage and stock returns affect...

The paper studies the impact of trade openness on real exchange rate in Pakistan using quarterly data for the period 1972 to 2010. The study reveals a significant positive effect of trade openness on real exchange rate. Floating exchange rate system also depreciates the real exchange rate...