Update on Pakistan Polio Eradication Initiative

The global polio eradication initiative (GPEI) was established in 1988 as a result of the declaration of commitment by the World Health Assembly. In Pakistan, National Emergency Action Plan [NEAP] coined the strategies under government directives to play a pivotal role in line with international requirements to make poliomyelitis extinct. At the program’s initiation, there were around 350,000 cases of polio reported annually. The incidence has fallen by 99% due to the immunization of more than 2.5 billion children worldwide. Poliovirus has three serotypes; two have already been eradicated (the last case of poliovirus type 2 was reported in 1999 and of poliovirus type 3 in 2012). Poliovirus transmission has ceased with the exception of Pakistan and Afghanistan. In April 2022, two cases of acute flaccid paralysis due to poliovirus type 1 have been reported in KPK province. In this communication, insight is provided regarding the issues that have contributed to this wild poliovirus resurgence after a 15-month gap and the way forward.

Proposing and Testing a Model of Financial Integration: Are Financial Depth and Stock Market Development Significant?

This study is based on proposing and testing the role of financial depth and stock market development in promoting growth and reducing macroeconomic volatility in respect of different countries of world. It was found that in the long-run growth may be enhanced by concentrating on stock market development. In the short-run, stock market development and trade openness were found significant for growth. However contribution of stock market development was very low.The results show that for European countries, financial depth and stock market development contributed to long-term growth. However contribution of financial depth outweighs that of stock market development.For ASEAN region, financial depth played a significant role to foster growth in the long-run. Financial depth, stock market development and trade openness played a key role to support growth in the long-run for Asia Pacific and MENA region. However in the short-run only financial depth contributed to growth. It was proposed that financial depth should be enhanced since it has played a persistent role in achieving growth. It is concluded that financial depth and stock market development may contribute to curb volatility in the long-run. However the role of stock market development was considerably higher than that of financial depth. Monetary Union provided very little support in this regard. In the short-run, financial depth, stock market development and degree of financial integration may contribute to curb volatility. In case of European economies, financial depth and stock market development contributed to reduce volatility in the long-run. MENA countries and ASEAN nations witnessed a significant role of trade openness and financial development in reducing macroeconomic volatility.