Foreign Capital Inflows-Growth Nexus and Role of Domestic Financial Sector: An ARDL Cointegration Approach for Pakistan

( Muhammad Shahbaz ),( Mohammad Mafizur Rahman ) 한양대학교 경제연구소 2010 JOURNAL OF ECONOMIC RESEARCH Vol.15 No.3

This study explores the roles of foreign capital in.ows and domes-tic financial sector development on economic growth in the case of Pakistan. Using annual data series of World Bank and Economic Survey of Pakistan over the period of 1971-2008, ARDL bounds testing approach to cointegration and Error Correction Model (ECM) are employed for long run and short run relationships, respectively. Empirical evidence reveals that foreign capital inflows have positive e.ect on economic growth. Financial sector`s development and public investment stimulate economic growth. Human capital stock and inflation also contribute to economic growth positively. The present study suggests that Pakistan government should undertake financial reforms to improve the efficiency of the domestic financial sector which will ultimately increase the rate of economic growth in the country.

Design, Analysis and Experimental Investigation of Micro Piezoelectric Vibrational Energy Harvester with Enhanced Power Extraction at Low Frequency

Muhammad Shahbaz,Sohail Iqbal,M. Mubasher Saleem,R. I. Shakoor 한국정밀공학회 2023 International Journal of Precision Engineering and Vol.24 No.2

Wireless sensor nodes (WSNs) and embedded microsystems (EMS) have become a center of focus for researchers from all over the world due to their enormous sensing and monitoring applications in multiple areas including biotechnology, agriculture, healthcare, and consumer electronics. To ensure proper functioning of these systems, continuous power supply is required. The research paper presents a piezoelectric vibrational energy harvester that is designed with enhanced power extraction capability at low frequency. A compliant trapezoidal beam with optimized proof mass placement at one end, to enhance piezoelectric output, is designed, fabricated, and experimentally tested. The parametric design of the energy harvester consists of a piezoelectric ceramic crystal barium titanate (BaTiO3) bonded to an optimized micro-folded trapezoidal beam. The designed energy harvester has been analytically modeled using Euler beam theory and simulated using MATLAB. The static, dynamic and piezoelectric energy conversion response of the energy harvester is verified through finite element method (FEM) based Multiphysics simulations. The fabrication of the energy harvester design has been carried out using low-cost wire cutting process. The experimental characterization of the proposed energy harvester shows that 32.36 V voltage and 2.216 mW power can be extracted at the operational frequency of 15 Hz with a factor of safety of 1.30. The experimental characterization results showed a good agreement with the FEM simulations with an error < 7%. The proposed energy harvester can be used to power WSNs, EMS, micro control units and microdevices using low frequency vibrations.

Foreign Capital In ows-Growth Nexus and Role of Domestic Financial Sector: An ARDL Cointegration Approach for Pakistan

Muhammad Shahbaz,Mohammad Ma zur Rahman 한양대학교 경제연구소 2010 JOURNAL OF ECONOMIC RESEARCH Vol.15 No.3

This study explores the roles of foreign capital inflows and domestic financial sector development on economic growth in the case of Pakistan. Using annual data series of World Bank and Economic Survey of Pakistan over the period of 1971-2008, ARDL bounds testing approach to cointegration and Error Correction Model (ECM) are employed for long run and short run relationships,respectively. Empirical evidence reveals that foreign capital inflows have positive effect on economic growth. Financial sector’s development and public investment stimulate economic growth. Human capital stock and inflation also contribute to economic growth positively. The present study suggests that Pakistan government should undertake financial reforms to improve the efficiency of the domestic financial sector which will ultimately increase the rate of economic growth in the country.

Financial Development and Income Inequality in Pakistan : An Application of ARDL Approach

MUHAMMAD SHAHBAZ;FARIDUL ISLAM 경제연구소 2011 Journal of Economic Development Vol.36 No.1

The paper examines the relationship between financial development and income inequality; and also explores if the Greenwood and Jovianvich (GJ) hypothesis applies to Pakistan. Using data from 1971 to 2005, the paper implements the Auto Regressive Distributed Lag (ARDL) bounds testing approach to cointegration to examine the existence of long run relation ships; and the error correction model (ECM) for the short run relationships. Stationarity properties of the series are tested by the ADF unit root test. The findings indicate that financial development reduces income inequality while financial instability aggravates it. Contrary to the conventional wisdom, we find economic growth worsens income distribution and that the latter is deteriorated further by trade openness. The paper does not find support for the GJ relation. Appropriate reforms aimed at developing a well-organized financial sector in Pakistan can help reduce income inequality.

Combination of TiO2-UV Photocatalysis and High Hydrostatic Pressure to Inactivate Bacterial Pathogens and Yeast in Commercial Apple Juice

Shahbaz, Hafiz Muhammad,Yoo, Sungyul,Seo, Bohyun,Ghafoor, Kashif,Kim, Jeong Un,Lee, Dong-Un,Park, Jiyong Springer-Verlag 2016 Food and bioprocess technology Vol.9 No.1

<P>The purpose of this study was to investigate the effect of combined treatments using TiO2-UV photocatalysis (TUVP) and high hydrostatic pressure (HHP) on inactivation of microorganisms in commercial apple juice as model liquid food. A synergistic effect was observed for combined treatments to inactivate microorganisms. Gram-positive bacteria, Listeria monocytogenes and Staphylococcus aureus, were completely inactivated from initial loads of 7.1 and 6.7 log CFU/mL, respectively, when treated with a combination of TUVP (8.45 J/cm(2)) and HHP (500 MPa). In contrast, reductions of only 4.8 log CFU/mL (L. monocytogenes) and 2.4 log CFU/mL (S. aureus) were achieved with 500 MPa HHP alone. Gram-negative bacteria, Escherichia coli O157:H7 and Salmonella Typhimurium, were reduced by 7.1 and 7.2 log CFU/mL, respectively, after a combined treatment using 8.45 J/cm(2) TUVP and 600 MPa (E. coli) or 400 MPa (S. Typhimurium) HHP which were significantly higher than the effects of HHP alone. A 6.2 log CFU/mL reduction in Saccharomyces cerevisiae count was monitored after treatment with a combination of 8.45 J/cm(2) TUVP and 500 MPa HHP whereas even 600 MPa alone could not achieve complete S. cerevisiae inactivation. Combined treatments (TUVP + HHP) were more effective for microbial inactivation than alone treatments. Scanning electron microscopic images of microorganisms showed highly deformed morphologies after TUVP + HHP treatment. In conclusion, pretreatment of commercial apple juice using TUVP before HHP processing results in better disinfection and may assure complete disinfection.</P>

Screening Methods for the Identification of Irradiated Foods

Shahbaz, Hafiz Muhammad,Ahn, Jae-Jun,Akram, Kashif,Kwon, Joong-Ho Institute of Agricultural Science and Technology 2013 慶北大農學誌 Vol.31 No.1

The exposure of food to ionizing radiation has been recognized as a safe and effective mode of food preservation in more than 55 countries. The benefits include eradication of insect pests, inactivation of food pathogens, extension of shelf-life, and improvement in food hygiene. Regulatory authorities around the world have emphasized the implementation of various national and international regulations to facilitate trade and development of consumers' confidence in purchasing irradiated foods. Therefore, the need for reliable irradiation detection methods has increased to enforce these regulations. At present, a number of promising analytical approaches have been developed and evaluated. Moreover, about 10 European Standards have been adopted as General CODEX Alimentarius methods for the detection of irradiated foodstuffs. However, most of these methods demand relatively expensive equipment and prolonged sample preparation. Therefore, simple and cost-effective approaches would be advantageous for rapid screening of foodstuffs. The suspected samples need to be analyzed further with more validated techniques to confirm the screening results. In this review, existing screening methods (i.e. physical, chemical, and biological) for the identification of irradiated foods have been outlined along with their principles, scopes and limitations.

FINANCIAL DEVELOPMENT AND INCOME INEQUALITY IN PAKISTAN: AN APPLICATION OF ARDL APPROACH

MUHAMMAD SHAHBAZ,FARIDUL ISLAM 중앙대학교 경제연구소 2011 Journal of Economic Development Vol.36 No.1

The paper examines the relationship between financial development and income inequality; and also explores if the Greenwood and Jovianvich (GJ) hypothesis applies to Pakistan. Using data from 1971 to 2005, the paper implements the Auto Regressive Distributed Lag (ARDL) bounds testing approach to cointegration to examine the existence of long run relation ships; and the error correction model (ECM) for the short run relationships. Stationarity properties of the series are tested by the ADF unit root test. The findings indicate that financial development reduces income inequality while financial instability aggravates it. Contrary to the conventional wisdom, we find economic growth worsens income distribution and that the latter is deteriorated further by trade openness. The paper does not find support for the GJ relation. Appropriate reforms aimed at developing a well-organized financial sector in Pakistan can help reduce income inequality.

Application of high pressure processing for prevention of greenish-gray yolks and improvement of safety and shelf-life of hard-cooked peeled eggs

Shahbaz, Hafiz Muhammad,Jeong, Bora,Kim, Jeong Un,Ha, Namho,Lee, Hyunah,Ha, Sang-Do,Park, Jiyong Elsevier 2018 INNOVATIVE FOOD SCIENCE AND EMERGING TECHNOLOGIES Vol.45 No.-

<P><B>Abstract</B></P> <P>Hard-cooked peeled eggs (HCEs) are value-added ready-to-use egg products susceptible to microbial re-contamination during post-processing stages. A post-processing terminal step using high hydrostatic pressure (HHP 500, 550, 600MPa for 5min at 25°C) was applied to ensure maximum safety of HCEs and the effects of processing were evaluated and compared with a commercial thermal post-processing intervention using steam heating. A significant discoloration in the form of greenish-gray yolks was observed in HCEs after steam heat post-processing due to overcooking. Color values of the HCE yolk (L*, a*, b*) after HHP post-processing were not significantly different (P>0.05) from non-post-processed HCEs. Non-thermal and thermal post-processing interventions each kept the growth of microbial contaminants at <10<SUP>4</SUP> CFU/g throughout 45days of refrigerated storage. Microbial counts in non-post-processed HCEs exceeded this safety limit within 3d. Sensory analysis showed significantly higher preference scores for the quality attributes of HCEs post-processed with HHP than with steam heating. Inactivation curves of <I>Salmonella</I> Enteritidis inoculated onto HCE surfaces after all HHP levels were well-fitted to the biphasic mathematical model. HHP post-package pasteurization at 550MPa for 5min showed potential as a terminal non-thermal kill step for commercial production of HCEs.</P> <P><B>Industrial relevance</B></P> <P>A non-thermal post-processing intervention using HHP can be considered as a terminal kill step during commercial production of HCEs to ensure maximum microbiological safety and to extend the shelf life of HCEs without formation of unappetizing greenish-gray yolks. The biphasic mathematical model can be used to predict growth and survival of <I>Salmonella</I> Enteritidis in HCEs and to conduct a risk analysis of this type of food products.</P> <P><B>Highlights</B></P> <P> <UL> <LI> HHP was applied as a post-processing intervention in hard-cooked peeled eggs (HCEs). </LI> <LI> HHP did not cause greenish-gray yolks in HCEs compared to thermal post-processing. </LI> <LI> HHP showed ability to inactivate <I>Salmonella</I> Enteritidis inoculated on HCE surface. </LI> <LI> HHP controlled microbial contaminants on HCEs surfaces during refrigerated storage. </LI> <LI> HHP terminal kill step can be applied in HCEs production to ensure microbial safety. </LI> </UL> </P>

Worldwide Status of Fresh Fruits Irradiation and Concerns about Quality, Safety, and Consumer Acceptance

Shahbaz, Hafiz Muhammad,Akram, Kashif,Ahn, Jae-Jun,Kwon, Joong-Ho Taylor Francis 2016 Critical reviews in food science and nutrition Vol.56 No.11

<P>Development of knowledge-based food preservation techniques have been a major focus of researchers in providing safe and nutritious food. Food irradiation is one of the most thoroughly investigated food preservation techniques, which has been shown to be effective and safe through extensive research. This process involves exposing food to ionizing radiations in order to destroy microorganisms or insects that might be present on and/or in the food. In addition, the effects of irradiation on the enzymatic activity and improvement of functional properties in food have also been well established. In the present review, the potential of food irradiation technology to address major problems, such as short shelf life, high-initial microbial loads, insect pest management (quarantine treatment) in supply chain, and safe consumption of fresh fruits was described. With improved hygienic quality, other uses, such as delayed ripening and enhanced physical appearance by irradiation were also discussed. Available data showed that the irradiation of fruits at the optimum dose can be a safe and cost-effective method, resulting in enhanced shelf life and hygienic quality with the least amount of compromise on the various nutritional attributes, whereas the consumer acceptance of irradiated fruits is a matter of providing the proper scientific information.</P>

Variability and Predictability of Summer Monsoon Rainfall over Pakistan

Adnan Muhammad,Khan Firdos,Rehman Nadia,Ali Shaukat,Hassan Sher Shah,Dogar Muhammad Mubashar,Mehmood Shahbaz,Hasson Shabehul 한국기상학회 2021 Asia-Pacific Journal of Atmospheric Sciences Vol.57 No.1

Rainfall variability associated with the South Asian Summer Monsoon has increased in recent decades, particularly at the northwestern monsoon margins over Pakistan, leading to more frequent and intense hydro-meteorological extremes that have adversely affected the agrarian economy, water and food security in the country. Devising effective strategies to ensure sustainable development in Pakistan thus requires that the monsoonal rainfall be predicted on an inter-annual scale. Here, we predicted the inter- and intra-annual variability of the monsoonal rainfall over Pakistan and its possible drivers using a linear statistical forecast model of the principal component (PC) regression analysis. For this purpose, highly correlated PCs of the National Centre for Environmental Prediction (NCEP) based sea level pressure, horizontal and meridional winds to the observed rainfall for the period 2001–2013 were ingested in a stepwise multiple regression model, which was further validated for the duration of 2014–2015. Our results suggest that featuring correlation coefficient, mean absolute error, mean bias, and root mean square error of 0.75, 42.23, −14.92 and 60.65, respectively, the model exhibits robust skill in predicting the inter-annual monsoonal rainfall variability at its extreme northwestern margins over Pakistan.