Effect of financial sector development and FDI inflow on employment rate in South Asia: New empirical evidence from ARDL approach

The current analysis aims to explore the empirical nexus between financial development, foreign direct investment (FDI) inflow, and employment rate. To attain this aim, we collect 30 years of annual data over the period 1990 to 2019 from South Asian economies and employ the autoregressive dynamic least square (ARDL) model for regression analysis. The implication of the ARDL model was subject to the mixed stationarity status of the series as assessed by unit root testing. The robustness of the analysis was checked by employing the fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) models. The statistical analysis infers that both financial development and FDI inflow enhance the employment rate in the South Asia region. In addition, the empirical analysis infers that the gross capital formation, economic growth, and export volume have a positive while the population growth rate has a negative effect on the employment rate. The impact of underlying explanatory variables was found significant only in long run. The estimated coefficient values in the case of FMOLS and DOLS models support the direction of the relationship between explanatory variables and employment rate, implying the robustness of the analysis. The findings of the current analysis can be used to devise efficient economic policies to cope with the encroaching issue of unemployment in the South Asia region. This study offers the robustness to existing literature and complements the literature by exploring the underlying arrangement of study to the whole South Asia group.     

Pashtun Jirga and prospects of peace and conflict resolution in Pakistan’s ‘tribal’ frontier

ABSTRACT

There is growing recognition and appreciation of traditional approaches towards peace and conflict resolution across the world. This article aims to highlight the crucial role and consequential importance of traditional mechanisms of peace and conflict resolution in Pakistan’s terror-hit Pashtun ‘tribal’ areas, formerly known as the Federally Administered Tribal Areas (FATA). These ‘peripheral’ areas of Pashtun tribes stand in relative isolation from the ‘centre’ of the Pakistani ruling establishment. Moreover, with the onset of militancy since 2001 in the Afghanistan–Pakistan region, the situation has turned worse for the local Pashtun tribes. The article discusses the changing role of traditional mechanisms and local structures of peace and conflict resolution, arguing that colonial legacies have failed to prevent, manage, resolve or transform conflicts in post-colonial states such as Pakistan. Furthermore, the Pashtun cultural code of Pashtunwali, along with its various tenets and structures, especially Jirga (Pashtun tribal council) and Lashkar (tribal militia), is also discussed in the article. The article concludes that the changing socio-political situation, along with the rise of the secular Pashtun Tahafuz Movement (PTM), is presenting a challenge to ‘tribal’ Pashtun patriarchal values as well as traditional structures like Jirga in the region.     

President Xi’s ‘Four Comprehensives’ And Their Impact on Asia

At the end of 2014,Chinese President Xi Jinping put forward the strategic layout of the"Four Comprehensives"—comprehensively building a moderately prosperous society,deepening reform,advancing the rule of law,and strictly governing the Communist Party of China.Later,the new guideline for development became the overall framework for the current leadership's work and has aroused interest at home and abroad.From this issue onward,Beijing Review will publish a series of commentaries by foreign researchers commissioned by Renmin University of China's Chongyang Institute for Financial Studies.     

Emerging donors: the promise and limits of bilateral and multilateral democracy promotion

This paper examines the evolving pattern of democracy promotion by three emerging donors: India, Brazil and South Africa. It first asks how the emerging donors promote democracy through their development assistance. The paper argues that despite the risk of compromising security and trade interests, the emerging donors have adapted to a 2 × 2 (two by two) model of democracy promotion by which they circumvent risk by promoting procedural democracy through bilateral means and non-procedural democracy through multilateral frameworks. Second, the paper asks why these three countries exhibit the same pattern of democracy promotion in spite of not having coordination among them. In response, the paper provides a structure–agent explanation. The paper contends that the structural constraints imposed on emerging donors are conducive to the operation of the 2 × 2 model in promoting democracy. While the model safeguards the emerging donors from criticism of being undue interveners in other countries' domestic affairs, it also privileges them with international recognition for being responsible partners in democracy promotion.     

'The erosion of property law principles in cohabitation disputes--a step too far?': Stack V Dowder [2007] 1 All ER 929, HL

Cohabitation of unmarried couples is becoming ever so popularin the society. Accordingly the number of property disputesbetween such couples is on the rise. Until now the law in thisarea was marred with conflicting dictums. In Stack v Dowdenthe House of Lords tried to resolve these conflicts by layingdown a simple rule that if there is a joint legal ownershipthe presumption would be of joint beneficial ownership. Thisarticle argues that the framework suggested by the majorityof House of Lords in Stack v Dowden cannot be rationalized bythe long standing law of property.     

Redefining community–state partnership in natural resource management: a case from India

This article examines the role of the state in the Joint Forest Management (JFM) programme in the northern province of Haryana in India. In the past two decades, significant developments pertaining to institutional reforms in promoting community–state partnerships in protecting and managing forests have been undertaken in the province. By reviewing the experiences in management of water-harvesting structures and lease of forest area to local communities, the article demonstrates that the adoption of ‘joint management’ rhetoric does not guarantee successful partnerships at the field level. The implementation of the programme calls for a radical redefinition of the role of the state in order to establish credible commitments to the local communities in terms of both policy and practice.