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Journal Cover European Online Journal of Natural and Social Sciences
  [11 followers]  Follow
  This is an Open Access Journal Open Access journal
   ISSN (Print) 1805-3602
   Published by European Online Journal of Natural and Social Sciences Homepage  [1 journal]
  • The Interrelationship between Money Supply, Inflation, Public Expenditure
           and Economic Growth

    • Authors: Muhammad Ijaz Hussain, Tasneem Zafar
      Abstract: This study examines the association between money supply, inflation, government expenditure, and economic growth in Pakistan from 1972 to 2015. “ARDL Bounds Testing Approach” for “Co-integration and ECM Technique” were applied to study the long and short run relationship among the above mentioned variables. “Granger Causality Test” was applied to find out the direction of causality. The results find a long run association between Economic Growth, Government Expenditure, and Inflation. The results of “ECM” show the short run relationship among the above mentioned variables; however, the speed of adjustment is slow which slightly less than 20% is. “Granger Causality” test reveals that “causality runs from Inflation to Economic Growth” while causality between Inflation and Government Expenditure. Inflation and Money Supply is bidirectional. It is concluded that both monetary and fiscal policies have an impact on economic growth.
      PubDate: 2018-01-13
      Issue No: Vol. 7 (2018)
  • A Comparative Analysis of the Compulsory Education Systems in Turkic

    • Authors: Yücel Gelişli, Lyazzat Beisenbaeva
      Abstract: The purpose of the current study is to conduct a comparative analysis of the compulsory education processes in Turkic Republics. The current study is designed as a descriptive study in the survey model. The data of the study were collected from journals, books, relevant written sources and internet sites through the document analysis technique. In the study, it was found that in general the compulsory education systems in the Turkic Republics are organized at three levels, require the compulsory attendance of students aged at 6-18 years old and last for 11 or 12 years, and there are some differences in their applications. The first level of the compulsory education is elementary education covering a four-year period in the Turkic Republics investigated in the current study and the general objectives in this first level are to teach how to adapt to the society and life, reading and writing, and the basic skills of mathematics. The second and third levels of the compulsory education have a similar structure in the Turkic Republics, former parts of the Soviet Union, in that first level of the secondary education is five years and the second level of the secondary education is two years in general. On the other hand, in Turkey, each of the first and second levels of the secondary education lasts four years. It was found that in the general secondary education in all the Turkic Republics, it is aimed to give a general science education, to impart the general cultural characteristics of the society to students and to prepare them for higher education.
      PubDate: 2018-01-13
      Issue No: Vol. 7 (2018)
  • The Relationship between Poverty, Income Inequality and Unemployment:
           Evidence from ARDL and Bound Testing Approach

    • Authors: Awais Anwar Muhammad, Qamar uz Zaman, Mehnoor Amir, Waqas Amin
      Abstract: The paper explores the impact of development expenditure, military expenditure, debt, political stability, foreign direct investment and inflation on poverty, income inequality and unemployment in the context of Pakistan. Time series uninterrupted data is used for the period 1980 to 2014. Income inequality is havoc by which income gap increases between rich and poor of society. Pakistan has an alarming situation of income inequality, poverty and unemployment rate as compared to other developing nations. The empirical findings confirm that increase in development expenditure causes a decrease in poverty and unemployment but inequality increases due to capitalism. There is a negative relationship between military expenditure inequality and unemployment. Foreign direct investment decreases inequality and unemployment. Results also show that political stability is responsible for increasing poverty and unemployment.
      PubDate: 2018-01-13
      Issue No: Vol. 7 (2018)
  • How Financial Stability Affects Economic Development in South Asia: A
           Panel data Analysis

    • Authors: Samia Nasreen, Sofia Anwar
      Abstract: This study examines the relationships between economic development and financial stability in five South Asian economies, namely Pakistan, India, Bangladesh, Sri Lanka and Nepal over the period of 1980-2012. Human Development Index (HDI) is used to measure economic development calculated using the goalposts based on south Asian data. While financial stability is measured by constructing an aggregate financial stability index (AFSI) that combines various indicators relating to financial sector development, vulnerability and banking soundness. We employ Pedroni panel cointegration technique to examine long-run relationship between variables. Empirical evidence confirms the long-run relationship between selected variables. Results estimated by employing Fully Modified OLS (FMOLS) show that financial stability is an essential factor for improving the process of economic development in South Asian countries. Causality analysis indicates that economic development Granger cause financial stability in South Asia.
      PubDate: 2018-01-13
      Issue No: Vol. 7 (2018)
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
Tel: +00 44 (0)131 4513762
Fax: +00 44 (0)131 4513327
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