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Determinants of Social Progress and its Scenarios under the role of Macroeconomic Instability: Empirics from Pakistan

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  • Ali, Amjad
  • Bibi, Chan

Abstract

This study has analyzed the determinants of social progress in the presence of macroeconomic instability in Pakistan over the period of 1980 to 2015. Under-five survival rate is used for measuring social progress and a comprehensive macroeconomic instability index is constructed by incorporating inflation rate, unemployment rate, budget deficit and trade deficit. Augmented Dickey-Fuller (ADF), Philips-Perron (PP) and Dickey-Fuller Generalized Least Square (DF-GLS) unit root tests are used for examining the stationarity of the variables. ARDL bound testing approach is used for co-integration among the variables of the model. Granger causality test is used for causal relationship among variables of the model. The estimated results of the study show that macroeconomic instability has negative and significant impact on under-five survival rate in Pakistan. The results reveal that female education, family planning & health cares and availability of food have positive and significant impact on under-five survival rate in Pakistan. Hence, for increasing social progress there is dire need of stable macroeconomic environment. Moreover, for increasing social progress much attention should be paid on female education, family planning & health cares and availability of food in Pakistan.

Suggested Citation

  • Ali, Amjad & Bibi, Chan, 2016. "Determinants of Social Progress and its Scenarios under the role of Macroeconomic Instability: Empirics from Pakistan," MPRA Paper 72920, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:72920
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    References listed on IDEAS

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    Cited by:

    1. Bibi, Chan & Audi, Marc & Ali, Amjad, 2017. "The Impact of Gender Inequality and Environmental Degradation on Human Well-Being in The Case of Pakistan: A Time Series Analysis," MPRA Paper 83470, University Library of Munich, Germany.
    2. Adeela Hussain & Muhammad Irfan Chani, 2018. "Remittances, Foreign Debt and Economic Growth: A Cross Country Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 7(2), pages 59-71, June.
    3. Rabia Liaqat & Hafiz Muhammad Abubakar Siddique & Iram Shehzadi, 2018. "Institutions and Economic Growth Nexus: A Cross Country Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 7(2), pages 72-80, June.

    More about this item

    Keywords

    social progress; macroeconomic instability; Pakistan;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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