OEconomia https://oeconomiajournal.com/index.php/Journal en-US editor@oeconomiajournal.com (Lewis diveid) admin@oeconomiajournal.com (Dr. Greenwood) Fri, 12 Jan 2024 17:39:13 +0000 OJS 3.3.0.13 http://blogs.law.harvard.edu/tech/rss 60 Illuminating Market Anomalies: An In-Depth Analysis of the Diwali Effect on the Indian Stock Market https://oeconomiajournal.com/index.php/Journal/article/view/114 <p>This research delves into the intriguing phenomenon known as the "Diwali effect" in the Indian stock market, akin to the widely recognized "Santa Claus rally" observed in Western markets. The study meticulously investigates whether stock prices exhibit a discernible positive trend surrounding the Diwali festival, which holds significant cultural and economic importance in India. Through a thorough analysis of daily returns spanning from 2010 to 2023 across pivotal indices and individual stocks, the aim is to furnish empirical evidence regarding the existence and magnitude of this effect. The findings spotlight a consistent uptick in returns during the Diwali period, particularly noticeable within the domain of large-cap stocks. This observation underscores the substantial influence of festive sentiment on market dynamics, suggesting that Diwali exerts a palpable impact on investor behavior and market outcomes.</p> UTKARSH, Brahma Naidu B Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/114 Sun, 09 Jun 2024 00:00:00 +0000 Analyzing the Economic Growth of Pakistan: A Comprehensive Study of Fiscal and Monetary Policy Dynamics from 1991-92 to 2021-22 https://oeconomiajournal.com/index.php/Journal/article/view/118 <p><strong><em>Purpose: </em></strong><em>The present study was aimed at assessing the effectiveness of Fiscal Policy Dynamics in terms of Total Expenditure, Total Revenue and Fiscal Deficit Fiscal Deficit and Monetary Policy Dynamics in terms of Money Supply, Interest Rate, Inflation Rate and Exchange Rate towards GDP economic growth rate of Pakistan’s economy during 1991-92 to 2021-22.&nbsp;&nbsp; </em></p> <p><strong><em>Method:&nbsp; </em></strong><em>Time series data set ranges from 1991-92 to 2021-22 from authenticated sources were utilized for present research study. Econometric analysis was done i.e Augmented Dickey Fuller Test, Log-linear response functions, Autoregressive Distribute Lags Model, Bound Test,&nbsp; Error Correction Mechanism, Variance Inflation Factors for checking multicollinearity in the model, Heteroscedasticity test, Lagrange Multiplier (LM) Test, Normality Test, Granger Causality Test, Impulse Response Function and Walt Test were employed.</em></p> <p><strong><em>Results: </em></strong><em>Findings revealed that almost all respective tested variables in the regression model were either found stationary at level I(0) or by taking at 1<sup>st</sup> difference I(1). Since some of the variables were found stationary at level and some were also found stationary at 1st difference then application of Autoregressive distributed lag Model (ARDL) examined co-integrating relationships between tested variables in the regression model. F-Statisticss value of Bound Test revealed long run relationships of tested variables in the model.&nbsp; The value of Co-integrating equations was worked out almost negative and significant depicting adjustment speed from short run dynamics towards long run equilibrium. Application of Variance Inflation Factors almost indicated non-existence of severe multicollinearity in the model. With the application of Homoscedasticity Test, homoscedasticity was experienced among the explanatory variables in the model, because significant F-value rejected the HO hypothesis of no heteroscedasticity in the model. Lagrange Multiplier (LM) Test was employed to check serial correlation or autocorrelation in the model. Significant F-Value of LM Test confirmed the non-existence of serial correlation or autocorrelation in the model. Findings of Granger Causality Test revealed bi-directional, uni-directional or no granger causal relationship between tested variable in the model. Impulse Response Analysis indicated negative as well as positive responses; shock to GDP noticed symmetric impact on Fiscal Deficit, Current Account Deficit and Trade Deficit alongwith Components of Balance of Payments in short run and long run. Application of Wald test almost confirmed the significance of independent variables for a model. </em></p> <p><strong><em>Conclusion: </em></strong><em>Results revealed positive and significant effects of Total Expenditure, Total Revenue and Fiscal Deficit Fiscal Deficit as proxies of Fiscal Policy Dynamics and Money Supply, Interest Rate, Inflation Rate and Exchange Rate as proxies of Monetary Policy Dynamics towards GDP economic growth rate of Pakistan’s economy over a period of time 1991-92 to 2021-22.</em></p> <p><strong><em>Implications: </em></strong><em>The study concludes the implications in terms of causes and effects of Fiscal Policy Dynamics and Monetary Policy Dynamics in relation with economic growth, which could be overcome, emphasizing the need to reduce the burden of deficits by boosting exports through good fiscal managerial strategy, provide employment and investment opportunities, generate capital accumulation so necessary to alleviate poverty and accelerate economic growth of Pakistan’s economy.&nbsp;&nbsp; </em></p> Saima Munir, Prof. Dr. Muhammad Niamat Ullah, Shehla Mazhar, Bushra Zaman Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/118 Wed, 05 Jun 2024 00:00:00 +0000 Examining the Potential of Sports: Developing Selected Indices of Psychological Wellbeing among University Student-Athletes https://oeconomiajournal.com/index.php/Journal/article/view/116 <p><em>The main purpose of this study was to examine the relationship between sports participation, gender, and psychological well-being among university student-athletes. A cross-sectional survey design was used, with a sample size of 568 student-athletes (284 male and 284 female) from the Southern region of Punjab, Pakistan. Data were collected using standardized scales to measure sports participation frequency, intensity, and psychological well-being. Statistical analysis included correlation analysis, multiple linear regression, and independent samples t-tests. The main findings revealed a significant positive correlation between sports participation frequency and psychological well-being (r = 0.50, p &lt; 0.001). Additionally, male student-athletes demonstrated stronger associations between sports participation and psychological well-being compared to females. Multiple linear regression analysis indicated that both frequency (</em><em>β</em><em> = 0.25, p &lt; 0.001) and intensity (</em><em>β</em><em> = 0.18, p &lt; 0.001) of sports participation significantly predicted psychological well-being. Moreover, male student-athletes participating in individual sports reported higher levels of psychological well-being compared to those in team sports (t = 2.85, p = 0.004). These findings highlight the importance of sports participation in promoting psychological well-being among university student-athletes, with implications for mental health interventions and sports program development.</em></p> Sundas Hashmi, Dr. Wasim Khan, Dr. Syed Asif Abbas, Arshad Khan, Sehar Mukhtar Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/116 Tue, 04 Jun 2024 00:00:00 +0000 Exploring the Impact of Triplet Deficit Hypothesis on GDP Growth Rate: A Longitudinal Analysis of the Pakistan Economy from 1994-95 to 2020-21 https://oeconomiajournal.com/index.php/Journal/article/view/117 <p><strong><em>Purpose: </em></strong><em>The present study was aimed at assessing the effectiveness of Fiscal Deficit, Current Account Deficit and Trade Deficit as Triplet Deficit Hypothesis towards GDP (</em><em>Q<sub>t</sub>) growth rate of Pakistan over period of time 1994-95 to 2020-21.&nbsp; </em></p> <p><strong><em>Method:&nbsp; </em></strong><em>Time series data set ranges from 1994-95 to 2020-21 from authenticated sources were utilized for present research study. Econometric analysis was done i.e Augmented Dickey Fuller Test, Log-linear response functions, Autoregressive Distribute Lags Model, Bound Test,&nbsp; Error Correction Mechanism, Variance Inflation Factors for checking multicollinearity in the model, Lagrange Multiplier (LM) Test, Normality Test, Granger Causality Test, Impulse Response Function and Walt Test were employed.</em></p> <p><strong><em>Results: </em></strong><em>Findings revealed that almost all respective tested variables in the regression model were either found stationary at level I(0), by taking at 1<sup>st</sup> difference I(1). Since some of the variables were found stationary at level and some were also found stationary at 1st difference then application of Autoregressive distributed lag Model (ARDL) examined co-integrating relationships between tested variables in the regression model. F-Statisticss value of Bound Test revealed long run relationships of tested variables in the model.&nbsp; The value of Co-integrating equations was worked out almost negative and significant depicting adjustment speed from short run dynamics towards long run equilibrium. Application of Variance Inflation Factors almost indicated non-existence of severe multicollinearity in the model. With the application of Homoscedasticity Test, homoscedasticity was experienced among the explanatory variables in the model, because significant F-value rejected the HO hypothesis of no heteroscedasticity in the model. Lagrange Multiplier (LM) Test was employed to check serial correlation or autocorrelation in the model. Significant F-Value of LM Test confirmed the non-existence of serial correlation or autocorrelation in the model. Findings of Granger Causality Test revealed bi-directional, uni-directional or no granger causal relationship between tested variable in the model. Impulse Response Analysis indicated negative as well as positive responses; shock to GDP noticed symmetric impact on Fiscal Deficit, Current Account Deficit and Trade Deficit in short run and long run. Application of Wald test almost confirmed the significance of independent variables for a model. </em></p> <p><strong><em>Conclusion: </em></strong><em>Results revealed positive and significant effects of Fiscal Deficit, Current Account Deficit, Trade Deficit on GDP (GDP<sub>t</sub>) Growth Rate of Pakistan over a period of time 1994-95 to 2020-21.</em></p> <p><strong><em>Implications: </em></strong><em>The study concludes the implications in terms of causes and effects of Fiscal Deficit, Current Account Deficit, Trade Deficit, which could be overcome and significantly impacted on economic growth, emphasizing the need to reduce the burden of deficits by boosting exports through good fiscal managerial strategy, provide employment and investment opportunities, generate capital accumulation so necessary to alleviate poverty and accelerate economic growth of Pakistan’s economy.&nbsp; </em></p> Shehla Mazhar, Prof. Dr. Muhammad Niamat Ullah, Bushra Zaman, Saima Munir Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/117 Tue, 04 Jun 2024 00:00:00 +0000 Noor Mahal; A New Life for Jewel of Ex-Princely State Bahawalpur: Timeless & Priceless Efforts by XXXI-Corps BWP to Conserve the National Heritage of Pakistan https://oeconomiajournal.com/index.php/Journal/article/view/115 <p>The aim of my research is to highlight the precious Heritage of Ex-State Bahawalpur<br>in British India. Noor Mahal is one of the Islamic Iconic Monument of Ex-Bahawalpur State.<br>Geographically; BWP States located at outer edge of Rajasthan Painesville among 23 other<br>Non–Muslim States in North West of India. BWP States possess the Princely State in 1727-1947<br>in East India Company &amp; had a Pact 1833. The following century BWP State had close Allied<br>with British Raj until 1947. Significantly BWP Stats was Muslim Ethnic States &amp; neighboring<br>with Punjab Province in East &amp; Khairpur State in West. In 1872; Nawab Sadiq-IV constructed<br>the Noor Mahal &amp; finally it completed on 1875. Since the Palaces is pernicious heritage of ExState BWP &amp; Pakistan. Nawab Sir Sadiq Muhammad Khan Abbasi- V. (1904-1966) was last<br>Ameer of the State. BWP States had a glorious history with its popular Nawabs. The Noor<br>Mahal is major Icon and its Marvelous Architecture master piece. Noor Mahal now declared<br>as national heritage of country. The other Palaces also added the beauty of the City &amp; Fascinate<br>the tourists. Over the years; The XXXI Crops Bahawalpur had remarkable efforts to give a new<br>life &amp; decided to restore the Noor Mahal in its original glory.</p> Dr. Saeed Ahmad, Dr. Muhammad Ahsan Ghazali, Dr. Arooj Fatima, Shehryar Qaisar, Sidra Naseem, Tehmina Irshad Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/115 Thu, 30 May 2024 00:00:00 +0000 Quantum Mysticism and its Scientific Implications https://oeconomiajournal.com/index.php/Journal/article/view/110 <p><em>The relation of mysticism with deep sciences is no mystery. Quantum mechanics have even deeper roots embedded in the mystic and spiritual interpretation of existence. There are different schools of thought in science of spirituality but quantum explanations are the one closest to mystic existence of everything. In this article we explain the quantum mysticism as understood by many scientists like Albert Einstein, Niels Bohr, Erwin Schrodinger and more specifically David Bohm. The Copenhagen interpretation and case of the Schrodinger’s cat would be presented and its latest and modern implications would be discussed as in quantum biology, microbiology, different processes like metamorphosis and their relationship with mysticism, spirituality would be discussed in detail.</em></p> <p><em>The purpose of the paper is purely to introduce the new interpretation of mystic sciences and their modern implications in general. This newly introduced science of spirituality isn’t well known among masses trying to understand spirituality. The neurological aspects of spiritual life of a person would be presented for the better understanding of this science as a whole.</em></p> Dr. Fozia Bibi, Dr. Omer Farooq Saeed Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/110 Sun, 05 May 2024 00:00:00 +0000 A Cordial letter to the “Quranists” https://oeconomiajournal.com/index.php/Journal/article/view/106 <p><em>There is a new wave of self proclaimed Muslims in today’s day and age who regard themselves as people who strictly follow the Quran solely. This implies that they completely reject and not believe in the literature of Prophetic sayings and lifestyle (hadith and sunnah). One of the label by which this sect goes is called “Quranists”. This letter is divided into three sections. The first section addresses the believers and followers of this thought, challenging their claim of following the Quran only i.e. if they follow the Quran they must follow the ways of Muhammad (PBUH) as well. In order to do this, five possible explanations are considered that a Quranist may have for its belief system, and then they are analysed from the lens of Quran and rationality. These include reasons that can be rooted in logic, emotions, ethics or simple malintent. Section two offers the audience possible consequences that the Quran itself promises those who disobey or reject the Prophet (PBUH) such as hellfire as their ultimate end. Lastly, the letter poses some questions for the quranist to ponder over and take action upon, rather than rationalising their actions, as that is the human essence of justifying the dissonance within ourselves.</em></p> Maira F. Maneka Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/106 Sun, 31 Mar 2024 00:00:00 +0000 Use of Anthropometric Measures to Determine Child Malnutrition in Pakistan https://oeconomiajournal.com/index.php/Journal/article/view/102 <p><strong>Background: </strong>Child malnutrition has been a substantial and consistent public health issue worldwide for many years, significantly affecting child mortality and morbidity that is severely obstructive in children's survival and growth. <strong>Objective: </strong>This study aims to assess how socioeconomic and demographic factors, as well as community health facilities, are related to child malnutrition among children aged less than five years in Punjab, Pakistan. <strong>Method: </strong>Multiple Indicator Cluster Survey (MICS) 2017-18 is conducted by the Bureau of Statistics, Pakistan, including men and women aged 15-49 years and children less than five years. Quantile Regression (QR) and Ordinary Least Squares (OLS) are used on anthropometric indicators to identify the factors contributing to child malnutrition in Pakistan. <strong>Results:</strong> A child's age, birth order, area of residence, sex, division, wealth index quintile, parental age, and education were significant determinants of child malnutrition.<strong>&nbsp;</strong>Female children are more likely to have higher stunting than male. Wealth index quantiles revealed the highest wasting in the poorer group compared to the richest. <strong>Conclusion</strong>: The OLS estimates can be deceptive when predicting the impact of factors at the lower end of the anthropometric indicator distribution. QR is a better approach than OLS to assess anthropometric distribution.</p> <p><strong>Keywords: </strong>Malnutrition, Anthropometric indicators, Quantile Regression, Ordinary Least Squares</p> Dr. Sehar Saleem, Dr. Seyab Yasin, Mrs Maria Aslam, Dr. Atif Khan Jadoon, Miss Kiran Sarfraz Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/102 Tue, 13 Feb 2024 00:00:00 +0000 YouTube Advertisements: A blessing or a curse? Generation Z’s perspective about YouTube Advertisements https://oeconomiajournal.com/index.php/Journal/article/view/98 <p>The research studied impact of informativeness of YouTube ads on purchase intention of consumers, incorporating two moderators, irritability and entertainment and trendiness. The sample consisted of generation Z and the study focused on how generation Z perceives YouTube ads. For the purpose of data analyses AMOS software was used. Confirmatory factor analysis and structural equation model was incorporated in the study. The results depicted that Ad informativeness has a positive relationship with the purchase intention of the product or service being advertised (H1). The extant literature supports the result as it states informativeness has a positive relationship with purchase intention due to the fact that messages that are of high quality are more prone to cultivating the purchase impulse for consumers to purchase the product being advertised (Tan, 2021). If the advertisement is informative it will have a positive and significant impact on consumer’s purchase intention. There were two moderators being studied in the research, irritability and entertainment and trendiness.</p> Zoraq Mansoor, Amina Talat Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/98 Fri, 12 Jan 2024 00:00:00 +0000 Impact of Financial Literacy and Self-Control on Financial Well-Being: A Mediating Role of Financial Behavior https://oeconomiajournal.com/index.php/Journal/article/view/100 <p><em>The study intends to investigate the impact of financial literacy and self-control on the financial well-being of individuals in a developing country like Pakistan, where we are facing certain peripheral issues such as a dense youth population and feeble financial outreach of the community. Henceforth, having substantial youth and the inability of the formal financial sector to cope with their growing needs the need of making rational financial decision making becomes imperative for the individual's well-being. </em><em>Precisely, we have highlighted the relationship and effect of financial literacy and self-control on the financial well-being of university students through the mediating role of financial behavior. Furthermore, the data was collected through a modified questionnaire comprising 26 items. </em><em>The results of the study affirm the importance of financial behavior and financial literacy on the financial well-being of individuals particularly, university dealing youth.</em><em>The outcomes of the study suggested that financial literacy is important for human well-being, henceforth, the study should be done at a wider scale by including the most sophisticated psychological constructs in the measuring scale. </em></p> Muzammil Khurshid, Muhammad Azeem, Abdullah Shiham Hassan Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/100 Fri, 12 Jan 2024 00:00:00 +0000 A Critical Review of Khalid Javed's Short Stories https://oeconomiajournal.com/index.php/Journal/article/view/105 <p><em>Khalid Javed is an important and reliable name of modern Urdu fiction. The fiction of the modern era and Khalid Javed is indispensable. The major critics of Urdu literature have called him a great fiction writer of the contemporary era. Khalid Javed is the modern era of Urdu fiction who has discovered a unique and unusual style for his fiction which is his specialty. In this chapter, our topic is limited to Khalid Javed's fiction writing. Therefore, we will examine his fictional art only. </em></p> <p>&nbsp;</p> Dr.Nusrat Jabeen, Dr.Parveen Kallu, Dr.Mutahir Shah, Dr.Samina Shamshad, Dr.Muhammad Rahman, Dr.Subhanullah Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/105 Sun, 31 Mar 2024 00:00:00 +0000 An Analytical Study of Nayer Masood's Stories Collection "Simiya" https://oeconomiajournal.com/index.php/Journal/article/view/109 <p><em>Nayer Masood is a reliable and important reference in the history of Urdu fiction. Nayer Masood is one of the fiction writers who changed the current tradition and changed the mood of fiction. The style of Nayer Masood is very unique. He pays more attention to the style than the subject. This is very much consciously and some of the characteristics of the Lucknow civilization are also influenced. The opinion of the critic Waris Alvi is correct in which he says that after reading Nayer Masood's fiction, tell what is in it. His example is like that of a dumb man who has eaten molasses, but nevertheless there are many gems in his creative experience that are capital for experts and nuclear critics.</em></p> Qamar Abbas Alvi, Dr.Mamuna Subhani, Dr.Ansar Abbas, Dr.Mutahir Shah, Dr.Parveen Kallu, Dr.Muhammad Rahman, Dr.Fatima Andleeb (Ph.D Urdu), Dr.Wajid Ali Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/109 Sun, 31 Mar 2024 00:00:00 +0000 Interdisciplinary Insights: Al-Biruni's Travels through the Lens of History, Anthropology, and Science https://oeconomiajournal.com/index.php/Journal/article/view/107 <p>Al-Biruni, a luminary of the Islamic Golden Age, traversed the landscapes of the medieval world, leaving an indelible mark on diverse fields such as astronomy, geography, mathematics, anthropology, and history. This review provides an in-depth exploration of Al-Biruni's extensive travels, delving into their profound significance in shaping his intellectual pursuits and contributions. Through meticulous analysis of primary sources and scholarly interpretations, it elucidates the geographic breadth, cultural encounters, and methodological innovations characterizing Al-Biruni's journeys. The article investigates how his observations and insights continue to influence the understanding of various cultures, scientific methodologies, and historical narratives. By critically evaluating Al-Biruni's expeditions, this review not only illuminates the multifaceted dimensions of his scholarship but also underscores his enduring legacy as a trailblazer in the realms of knowledge exchange and cross-cultural understanding. Al-Biruni's travels stand as a testament to his insatiable curiosity and relentless pursuit of truth, offering invaluable insights into the medieval world and inspiring generations of scholars to explore the intersections of science, culture, and history.</p> Muhammad Farhan Ur Rehman (Corresponding Author), Hafiz Muhammad Kashif, Muhammad Ajmal, Hafiz Muhammad Ramzan, Muhammad Sohail, Muhammad Noor Copyright (c) 2024 OEconomia https://oeconomiajournal.com/index.php/Journal/article/view/107 Sun, 31 Mar 2024 00:00:00 +0000