Given the importance of institutions this study tries to find out the relatively unexplored areas on the relationship between institutions, policies and economic growth.As there is extensive literature so far on institutions-growth relationship as well as macroeconomic policies-growth relationship therefore the study contributes by filling the gap on institutions-policies link for developing countries specifically the role of institutions in reducing policy instability. Choice of the countries is based on the governance status or percentile rank of the countries provided by the World Bank, World Governance Indicators. Choice of the time period is relevant to policy initiatives in developing as an agenda of neoliberal approach. Our empirical analysis employs annual data for a set of 12 developing countries, according to the World Bank classification, from South Asia, East Asia and Pacific, Latin America and Sub Saharan Africa.The sample period spans from 1990–2014. In the light of motivation and significance of the study there are three main objectives and also sub objectives. Main objectives discuss the role of policies (both stabilization and liberalization policies) and institutions in economic growth. In addition to the level effect of domestic macroeconomic policies on economic growth the study also evaluates the volatility effect and last the indirect effect of institutions on economic growth through reducing the policy instability or volatility which contributes to the literature as an unexplored area. We have derived a dynamic panel data model to study the role of institutions and policies in economic growth, following Mankiw et al. (1992), in the empirics of neoclassical growth model. Derived model shows the effect of institutions and policies (stabilization and liberalization policies) on economic growth along with traditional factors and convergence. We have further manipulated our equation according to our objectives. To xi control the unobserved country specific effects and econometric problems related to the possible endogeniety of explanatory variables with the growth we use dynamic panel data GMM method of estimators developed by Arellano and Bond (1991), and Arellano and Bover (1995). Regarding the empirical results of GMM we explain these according to our objectives below. Regarding our first objective we analyze the effect of institutions and policies on economic growth. There is evidence of conditional convergence moreover the traditional growth variables; physical capital, human capital and population growth also follow the empirical literature. Institutions promote the economic growth by creating an environment for capital creation. Regarding the fiscal policy our results support the Keynesian hypothesis. Capital expenditures positively contribute to economic growth by providing necessary infrastructure for the encouragement of private sector investment. Results regarding the monetary policy support the Monetarists hypothesis, monetary policy do affect the economic growth through aggregate demand. Trade liberalization increases the economic growth. Liberalizing the capital goods promotes the economic growth through technology transfer. Regarding financial liberalization both the De jure and De facto measure negatively affect the economic growth. Literature provides the evidence that in developing countries financial liberalization increases the risk of crisis, especially due to short run capital flows. Disaggregated analysis shows that FDI inflows positively contribute to economic growth being long term and stable investment while short term investment (portfolio equity and debt) negatively contribute to economic growth due to higher reversal rate. Disaggregated analysis of institutional quality shows that political stability is insignificant in affecting the economic growth while all other indicators of institutional quality positively contribute to economic growth. Rule of law is the most significant factor in affecting the economic growth. xii Regarding our second objective we evaluate the effect of policy instability or volatility on economic growth. We accomplish that volatility of domestic macroeconomic policies brings the uncertainty regarding investment decisions therefore reducing the growth. Volatility of the fiscal policy creates uncertainty about future taxes and the future behavior of fiscal parameters which negatively affects the behavior of economic agents. Volatility of the monetary policy brings volatility in consumption and investment decisions. Access to the external market has destabilized the economies of less developed countries because of volatility associated with trade and capital flows. Volatility of both negatively affects the economic growth by reducing the domestic and foreign investment. Higher integration makes countries vulnerable to external fluctuations that can deteriorate their growth rate. Regarding our third objective we examine the effect of institutions on policy volatility. Results show that institutions play an important role in reducing policy volatility by putting restrictions on policy makers.Regarding the fiscal policy volatility institutional constraints make it difficult for the governments to frequently change the policy. Regarding monetary policy an independent central bank can provide more consistent policy by reducing the uncertainty, in addition to lower inflationary outcome. High institutional quality enables countries to stabilize financial markets and capital flows. Good institutions make the trade flows stable through greater predictability which reduces the trading cost. Besides the institutional quality volatility of domestic macroeconomic policies can be reduced by increasing the level of income, reducing macroeconomic instability indicated by inflation volatility, ensuring the exchange rate stability, higher export diversification, controlling the external debt or reducing the deficit, improving the financial sector development which plays the role of shock absorber in globally integrated world and managing the external shocks. xiii Findings propose that increased globalization has raised the need for transparent, efficient and responsive institutions. To encourage the private investment it is the responsibility of the state to create a suitable legal and economic environment that ensure protection of property rights, strong judiciary and improved transparency. Moreover strong fiscal, monetary and economic institutions reduce policy uncertainty.
جادو کہیڑا سی دس ترے حسن اندر، جیہڑا دل کلیجہ چیر گیا آیا جو وی تیری جوہ وچوں، اکھاں وچوں وگاوندا نیر گیا سوئیاں وانگ پلکاں اتے اکھیاں تھیں ڈورے مستی دے پئے مہکدے نیں ہک وار ڈٹھا جس یار میرا بن زلف دا اوہ اسیر گیا ہک جھٹ اندر کی ہویا اے لگا پتا نہ مستی دے وچ مینوں دے جھٹکا کالیاں زلفاں نوں پا زلفاں دی زنجیر گیا پیا چمکے چہرہ چن وانگوں اتوں ہاسے شوخ نگاہواں دے جیہڑا دوروں ویکھے ہس آکھے اوہ ویکھو بدر منیر گیا واہ گجرے درود سلاماں دے پیا دم دم نال ادا کرنا بن شافع، شافع محشر نوں بخش امت دی تقصیر گیا نہیں ریساں اوس شہید دیاں جس وطن تے ویٹیا لہو اپنا اوہنوں مردہ کہو نہ ہے زندہ، بن زندگی دی جاگیر گیا
Islam is a complete code of life and provides the rights to every class of the human beings. Women rights is a kind of such basic rights which were not bothered in the world but Islam provided it to this gender in its ancient age. So many enactments have been made in Pakistan at federal and provincial level. “Punjab Protection of Women Against Violence Act 2016” will be main study of this research article in which. This act was passed rapidly without any detailed discussion on it, so is the reason that it bears so may deficiencies in it. Implementation of this act will surely cause to create the internal problems in family life and will destroy the family system of the era. Some provisions of this act are repugnant to Islamic teachings as well as to ethical norms which make the husband helpless, notorious and such sinful and criminal person who has no right of honor and respect in the society and this will become a permanent document of dishonor which will affect his person as well as his whole family. These main points of this Act will be analyzed in sharia perspective in this research paper.
The Internet has become an attractive avenue for global e-business, e-learning, knowledge sharing, etc. Due to continuous increase in the volume of web content, however, it is not practically possible for a user to extract information by browsing and integrating data from a huge amount of web sources retrieved by the existing search engines. The semantic web technology aims to answer this and many other information extraction related issues by providing a suite of tools for integrating data from different sources. To take full advantage of semantic web, however, it is necessary to annotate existing web pages with semantics. Mother difficulty that logically arises while accessing information over the web is the presence of unstructured, ungrammatical and incoherent format such as online advertisements, emails, reports etc. This thesis aims to answer few of the concern raised above and presents a semantic annotation framework that is capable of extracting relevant data from unstructured, ungrammatical and incoherent data sources and semantically annotating it. The semantic annotation framework is named BNOSA and it employs ontology and Bayesian network to perform semantic annotation. As the data is unstructured and ungrammatical, the framework exploits the use of context keywords along with domain knowledge to find the location of the data of interest in relevant data sources. Due to the variable size of information available on different webpages, it is often the case that the extracted data contains missing values for certain variables of interest or it may extract more than one value (conflicting values). It is desirable in such situations to predict the missing values and to resolve the conflicts by selecting them the most relevant value. BNOSA employs Bayesian networks for missing value prediction and conflict resolution. The framework is extensible as it is capable of dynamically linking any problem domain given a pre-defined ontology and a corresponding Bayesian network. Experiments have been conducted to analyze the performance of BNOSA on several problem domains. The sets of corpora used in the experiments belong to selling-purchasing websites where product information is entered by ordinary web users in a structure free format. The results show that BNOSA performs better than the other recently proposed semantic annotation frameworks