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Examining the Impacts of Human Capital Flight on Economic Growth: A Case Study of Pakistan

Pages: 1-30
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Examining the Impacts of Human Capital Flight on Economic Growth: A Case Study of Pakistan

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DOI: 10.18488/journal.67.2020.71.1.30

Muhammad Zeeshan Younas , Ghazala Ahmad

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Muhammad Zeeshan Younas , Ghazala Ahmad (2020). Examining the Impacts of Human Capital Flight on Economic Growth: A Case Study of Pakistan. Review of Knowledge Economy, 7(1): 1-30. DOI: 10.18488/journal.67.2020.71.1.30
Human capital is one of the key drivers of economic development and sustainable competitive advantage in the global market. Human capital flight or Brain drain can lead to a permanent impact on the growth process of the country of emigration. Like numerous other developing countries, Pakistan has also been experiencing both the negative and positive consequences of human capital flight. To examine these impacts of international movements on Pakistan economy we retrieved data from different sources. The fundamental objective is to examine the consequences of international migration and its associations with poverty, economic growth, and human development. To keep this in mind, we employed the ARDL approach on three different models for the period of 1975 to 2017. District wise analysis of all provinces states that the international migration is playing a key role in the reduction of poverty level except in KPK. In addition, empirical evidence describes that international migration is positively associated with economic growth and human development while negatively associated with poverty level. The study is concluding that there are enormous potential benefits exists in international migration process because it boosts the economic growth of Pakistan via personal remittances inflow. Likewise, it smoothes out the consumption pattern of ordinary households due to the direct transfer of remittances to them. This monograph is also suggesting some useful policy recommendations for instance, if we export our manpower to highly developed countries then reverse brain drain will encourage the innovation practices along with improvement in economic growth.
Contribution/ Originality
The fundamental objective is to examine the consequences of international migration and its associations with poverty, economic growth, and human development. The study is concluding that there are enormous potential benefits exists in international migration process because it boosts the economic growth of Pakistan via personal remittances inflow.

The Impact of Economics and Financial Literacy in How People Perceive the Effectiveness of the Fiscal Policy of Zimbabwe: Case Study of Harare

Pages: 31-42
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The Impact of Economics and Financial Literacy in How People Perceive the Effectiveness of the Fiscal Policy of Zimbabwe: Case Study of Harare

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DOI: 10.18488/journal.67.2020.71.31.42

Ngonidzashe Mukwepa

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Ngonidzashe Mukwepa (2020). The Impact of Economics and Financial Literacy in How People Perceive the Effectiveness of the Fiscal Policy of Zimbabwe: Case Study of Harare. Review of Knowledge Economy, 7(1): 31-42. DOI: 10.18488/journal.67.2020.71.31.42
This paper investigates the relationship between the perceived Zimbabwean Fiscal Policy (FP) outcomes and the preferences of the people of Zimbabwe, resident in the city of Harare in the context of the Fiscal Policy Framework (FPF) of Zimbabwe. It looks at how people are aware and confident about the FP actions and institutional frameworks in charge of formulating and implementing FP and also how the activities of people complement the FP actions. It looks at the influence of financial and economics literacy on how people understand and respond to FP actions. To make the investigation robust, data was obtained from across different occupations. Governments get elected to a large extent on the basis of their FP. The nature of FP is political on its own. Hence it is important gauge what areas of the FP process need to be adjusted to ensure that the people become positive about those in charge of the FP formulation and implementation together with the FP tools being used. Results obtained from the investigation showed areas where there is rent seeking and time inconsistency showing that serious reforms of the FPF of Zimbabwe are needed to ensure that optimal macroeconomic outcomes are achieved. A serious lack of awareness of the setup of the FP framework of Zimbabwe showed that there must be widespread and effective communication by the authorities on the nature of the FP operations being implemented to ensure that people on the ground complement government efforts to improve the economic performance of Zimbabwe.
Contribution/ Originality
This paper contributes to the first logical analysis of the relationship between the Zimbabwean Fiscal Policy outcomes, the preferences towards these outcomes by the Zimbabwean people and the impact of financial and economics literacy on the Zimbabwean people's preferred Fiscal Policy preferences.