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Home > Role of Microfinance in Financial Stability, International Diversification, Millennium Development Goals and Growth of Msmes

Role of Microfinance in Financial Stability, International Diversification, Millennium Development Goals and Growth of Msmes

Thesis Info

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External Link

Author

Habib Ahmad

Program

PhD

Institute

International Islamic University

City

Islamabad

Province

Islamabad.

Country

Pakistan

Thesis Completing Year

2017

Thesis Completion Status

Completed

Subject

Economics

Language

English

Link

http://prr.hec.gov.pk/jspui/bitstream/123456789/7995/1/Habib%20Ahmad%20Thesis%20Submitted%20to%20HEC%20with%20References%20and%20other%20pages.pdf

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676724999539

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This dissertation consists of four essays measuring impact of microfinance. For the first three essays growth in microfinance is measured, with respect to five dimensions i.e. Number of active borrowers, Gross Loan Portfolio, Total Assets, Personnel and Equity. To investigate impact of growth in microfinance, microfinance index is developed by using principle component analysis and then panel regression models i.e. fixed effect and random effect models are applied. Whereas for the fourth essay stock prices of microfinance institutions are used in the analysis. In the first essay moderating role of political stability in the relationship between microfinance and financial stability is investigated. To unfold the relationship data of thirty eight countries from 1999 to 2012 is analyzed in the essay. This essay concludes that with growth in microfinance and political stability financial stability escalates but the effect of growth in microfinance on financial stability may not be same for politically stable and unstable countries. Although growth in microfinance will increase financial stability in both politically stable and unstable countries but its role is more prominent and effective in politically unstable countries. In the second essay role of entrepreneurial thrust in the relationship between growth in microfinance and growth of micro, small and medium enterprises (MSMEs) is investigated. A panel of 15 countries from 2004 to 2013 is investigated in this analysis. The study documented that in isolation microfinance may not increase growth of MSMEs but if a borrower possess entrepreneurial thrust then growth in MSMEs is evident. For the third essay three relevant millennium development goals i.e. (Eradicate extreme poverty & hunger, Improve maternal health & promote gender equality and empower ix women) are chosen to examine the impact of microfinance on millennium development goals in the presence of political stability as a moderating variable. Data of 32 countries from 2000 to 2012 is analyzed for checking impact of microfinance on poverty alleviation, whereas data of 41 countries from 2000 to 2012 is analyzed to investigate impact of microfinance on women empowerment and maternal health. The research concluded a positive role of microfinance in poverty alleviation and improving maternal health whereas a partial impact on education aspect of women empowerment is detected. In the fourth essay diversification benefits of including a microfinance stocks in a portfolio is analyzed. Prices of seven micro-finance stocks and stock indices of respective countries from five countries are taken from Thomson One banker database. Mean variance spanning test is applied to investigate the relationship. Although lesser or sometimes negative correlation between micro-finance stocks and international portfolio is spotted but no diversification benefits are identified by inclusion of micro-finance stocks in the portfolio.
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21. Al-Anbiya/The Prophets

21. Al-Anbiya/The Prophets

I/We begin by the Blessed Name of Allah

The Immensely Merciful to all, The Infinitely Compassionate to everyone.

21:01
The time of their reckoning draws ever closer to the people as it starts while experiencing their death,
and yet in their heedlessness of its coming, they keep turning away.

21:02
Whenever a new Message comes to them from their Rabb - The Lord,
they listen to it playfully.

21:03
Their hearts are preoccupied with trivial things.
Yet, concealing their inner thoughts, the unjust/wrongdoers say in their private conversations:
‘Is this Muhammad not a human being like you?
Will you, then, submit to his magic, with your eyes wide open?’

21:04
He - The Prophet – said:
‘My Rabb - The Lord Knows whatever you confer and conspire and, in fact, every word
spoken within the celestial realm and the terrestrial world.
For HE is the All-Listening, the All-Knowing.’

21:05
No way!
‘Instead, they allege:
The Qur’an is just a collection of his jumbled false dreams.
Perhaps he has fabricated it.
Rather he is a poet!’
If this is not the case, then let him bring us a miraculous Sign, as were the former Messengers assigned with Signs.

21:06
Not one of the habitation(s) which WE destroyed in punishment before they had believed.
So, will they, then, be willing to believe or get destroyed?

21:07
And WE have not assigned any Messenger before you except for those men on to whom WE revealed -
so just ask scholars of the Former Divine Scriptures, if you do not know.

21:08
And WE did not make for...

جلاٹین کے استحالہ کے فقہی احکامات

Gelatin is derived from Collagen which is a natural protein in the animal’s skin and tissues like cows and pigs. So in this connection there is a doubt in its status that whether it is lawful (Halãl) or unlawful (Harãm). There are two different views about Gelatin. According to the 3rd Fiqhi Conference held in Makka al Mukarma that such Gelatin which has been derived from the Pig tissues and skin is not permissible. On the other side Islamic Fiqha Academy, India has decided that all kind of Gelatin is permissible because of Istihala i.e. Its change from one thing into another thing in the light of the views of Imam Muhammad bin Hassan Alshibani in Raddul Muhtar Aala Durrul Mukhtar.

Development of Ranking Criteria for Assessment of Existing and Proposed Solid Waste Dumping Sites in Faisalabad, Pakistan With the Help of Remote Sensing and Gis Techniques.

Priority wise channelization of resources is the key to successful environmental management, especially when remedial resources are limited. The study in hand has successfully explored potential of Remote Sensing (RS) and Geographic Information System (GIS) techniques for assessing environmental impacts of Municipal Solid Waste (MSW) open dumps. An additional emphasis in this regard was to compare different MSW open dumps for their environmental hazards. The study was mainly done for MSW open dumps of Faisalabad, but for comparison MSW dumps of Lahore have also been incorporated. This study can be divided into the development of an algorithmic criterion that compares MSW dumping sites as a whole, establishing use of the remotely sensed satellite data for detailed bio-thermal hazards assessment of MSW dumps, to study impact of varying geography on these affects, and to study spectral behavior of MSW open dumps for their possible identification. It is first study of its kind that have modeled economical methods within the framework of remote sensing and spatial analysis that can be easily adopted in developing world. The developed ranking algorithm is a Multi Criteria Analysis (MCA) that has made use of the scaling function, to normalize the data values, Analytical Hierarchy Process (AHP) for assigning weights to input parameters showing their relevant importance and Weighted Linear Combination (WLC) for aggregating the normalized scores. Input parameters for this algorithm have been divided into three classes namely resident''s concerns, groundwater vulnerability and surface facilities. Remote Sensing data and GIS analyses were used to prepare most of the input data. Working of the algorithm has been elaborated by comparing four of the dump sites namely main Municipal Solid Waste Open Dump (MSWOD) of Faisalabad (MF-MSWOD), new MSWOD of Faisalabad (NF-MSWOD), Saggian and Mahmood Booti (MB-MSWOD) dumps of Lahore. The comparison has been made first at class levels and then class scores have been aggregated into environmental normalized index for environmental impact ranking. The hierarchy of goodness for the selected sites is found to be NF-MSWOD > MF-MSWOD > MB-MSWOD > Saggian with comparative scores of goodness to environment as 36.67, 28.43, 21.26 and 13.63 respectively. Flexibility of developed criteria to adjust any number of classes and parameters in one class will be very helpful for developing world where availability of data is the biggest hurdle in research based environmental sustainability planning. The proposed model can be run even without 2 purchasing expensive satellite data and GIS software, with little inaccuracy, using imagery and measurement tools provided by Google Earth. To establish the use of the remotely sensed satellite data for detailed bio-thermal hazards assessment of MSW dumps thirty images of Landsat-8 have been selected after validation for the accuracy of their observational details from April, 2013 to October, 2015. Land Surface Temperature (LST), Normalized Difference Vegetation Index (NDVI), Soil Adjusted Vegetation Index (SAVI) and Modified Soil Adjusted Vegetation Index (MSAVI) derived from these images through Digital Image Processing (DIP) and have been used for spatio-temporal analysis in GIS environment. MF-MSWOD has been found with average temperature elevation of 4.3 K and 2.78 K from nearby agriculture land and urban settlement respectively. Vegetation health has been used as the bio-indicator of MSW effects and is implemented through NDVI, SAVI, MSAVI. Spatial analyses have been used to mark boundary of bio-thermally affected zone around dumped MSW and measures 700 m. Seasonal fluctuations of elevated temperatures and boundary of the biothermally affected zones have also been discussed. Based on the direct relation found between vegetation vigor and the level of deterioration within the bio-thermally affected region, use of crops with heavy vigor is recommended to study MSW hazard influence using bio-indicators of vegetation health. The results obtained and the research methodology of spatial analysis for MF-MSWOD, surrounded by a uniform vegetation cover all around, have been compared with that of the MBMSWOD surrounded by a complex neighboring land cover. Contrary to MF-MSWOD, the MBMSWOD has been found to affect surrounding vegetation to an average distance of about 650 m that varies from 400 m in winter to 800 m in dry summer. The thermal influence zone was observed to have about the same radial extent of 650 m with minimum of 350 m found in dry summer and maximum of 1000 m in winter. The comparison has resulted into two main conclusions. In the first place the severity of bio-thermal effects of an open MSW dump, in addition to waste age, characterization, pile etc., also depends on surrounding geography. Secondly, the use of GIS analysis for studying the bio-thermal effects requires modification that varies from case to case, depending upon neighboring land cover. The use of remotely sensed data for monitoring dumped MSW is a good alternative but selection of proper GIS methodology, representing natural setting of phenomena is as important as accuracy of the remotely sensed data.