Volume 5, Issue 3

By admin - Last updated: Friday, April 1, 2016

1) The Impact of Financial Development on Economy of Pakistan.
Author’s Details: Malik Shahzad Shabbir-International Islamic University

Abstract
This study aims to examine the impact of financial development on economy sector of Pakistan. Regional economic growth and financial development cycles can trace major global and unobserved factors evolved overtime. However, economic growth and financial development are explaining the fluctuations in the economy, which plays an important role for development of any economic sector. Whereas, Augmented Dickey Fuller Test (ADF) and Phillips Perron (PP) test are used to check the individual stationarity of each variable. Augmented Dickey Fuller test is used to estimate the unit root test. Johnson co-integration test is also used to check the long run relationship between the variables. The overall results shows a positive significantly impact of financial development on economic growth of Pakistan, expected some years of nineties when stock markets became in negative figure. However, F- statistics shows overall positive significant impact of the mode
Keywords:
financial development, economic sector, fluctuations
[Download Full Paper] [Page 01-11]

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2) Threshold of Micro – Financing in Morocco.
Author’s Details: Malik Shahzad Shabbir-International Islamic University

Abstract
This study examines the historical portfolio of Micro – Finance in Morocco. The microfinance sector in Morocco relies on continued support from its Government through the legal framework. Their aim was to improve access for low-income micro entrepreneurs to financial services and help them to broaden their businesses, raise their income and increase employment. Moreover it was intended to strengthen the capacities of local associations to grant microcredit services. The ideal of microfinance was conceived as a process that seeks sustainability of its actions and synergy with all the policies of national and sectorial development. MFIs focused on individual and small business lending and could so increase loan sizes by 132 % between 2002 and 2008. Morocco seems to be aware of the importance of microfinance and puts a lot of effort into the development of the sector. The country’s success will depend on how it deals with future challenges. As long as the focus does not lie solely on profits, but accommodates sustainable growth and poor clients, Morocco will be able to continue its success story further.
Keywords:
low-income micro entrepreneurs, portfolio, microcredit, financial services.
[Download Full Paper] [Page 12-25]

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Filed in Volume 5, Issue 3