Minhaj International Journal of Economics and Organization Sciences

Economic Growth, Public Debt, and Budget Deficit Dynamics in Pakistan: Evidence from an ARDL Approach

Waqar Muhammad Khan — 2026-06-28

The current study has unfolded the relationship of economic growth, internal debt, external debt and budget deficit of Pakistan. ARDL methodology was applied to annual time series from 1980 to 2018; Bound test gauged the long run relationship among economic growth, internal debt, external debt and budget deficit of Pakistan. Results reveal the presence of long run association of economic growth, internal debt and external debt of Pakistan at 5% level of significance. Consequently, economic growth and budget deficit have significant long run association at 8% level of significance. Significant positive influence found in long run external debt, whereas negative impacts in short run on budget deficit. However, internal debt exhibits negative significant influence on budget deficit.

Lockdown, Edification, and Mental Health: COVID-19 Effects on International Students in China

Muhammad Rashid Ali — 2026-06-28

In China, COVID-19 has created severe educational and psychological consequences among international students by the strict lockdown. In the current study, we aim to examine the connotation of the COVID-19 lockdown on the educational performance and psychological health of overseas students. For this purpose, data were collected from 921 foreign students across different universities in Wuhan. The data analysis was conducted using SPSS 26, and the multiple regression analysis was run to test the hypothesis. The results reveal that the Wuhan lockdown significantly affects the mental well-being and academic performance of international students. Institutional strategies and support mechanisms provided by the Chinese government and universities effectively mitigated the lockdown’s negative impact on the psychological well-being and academic outcomes of students. These results imply how foreign scholars’ academic activities and well-being relieved by providing assistance in the form of management, which has noteworthy implications for educational institutions worldwide. Educational institutions and policymakers can use these findings, with far-reaching implications for higher educational institutions globally.

An Empirical Analysis of Corruption and Firm Growth across Southeast Asian Economies Using World Bank Enterprise Data

Dr Farrukh Mahmood — 2026-06-28

This study examines the relationship between corruption and firm performance in Southeast Asian economies using firm-level data from the World Bank Enterprise Surveys (2005– 2024). The dataset comprises over 15,900 firms across ten countries. Given the pooled nature of the data, arising from irregular survey frequency and random sampling, the analysis employs a pooled Ordinary Least Squares (OLS) model with country fixed effects to control for unobserved heterogeneity. Firm performance is measured using sales growth and labor productivity. The empirical results indicate a significant non-linear negative relationship between corruption and firm performance, with stronger adverse effects at low to moderate levels of bribery. The findings consistently support the “sand the wheels” hypothesis, suggesting that corruption acts as a constraint on firm growth rather than facilitating efficiency. Overall, the results demonstrate that even low levels of corruption impose measurable economic costs on firms. These findings underscore the importance of reducing bureaucratic inefficiencies and enhancing transparency to improve firm performance and support sustainable economic development.

Relationship between Inventory Holding and Financial Performance of Manufacturing Companies in Pakistan

Muhammad Akram — 2026-06-28

This study investigates the effect of inventory holdings on the financial performance (operating profit to sales and gross profit to sales) of 233 manufacturing firms of Pakistan for the period 2014–2018. It specifically examines how raw material inventory to sales (RMIS), work-in-process inventory to sales (WIPIS), and finished goods inventory to sales (FGIS) affect firm performance. Unlike previous studies, this research disaggregates inventory to assess the distinct effects of each component on firm performance. Using the system generalized method of moments for estimation, the empirical findings show significant negative association between total inventory and operating profit to sales and gross profit to sales. Moreover, RMIS and WIPIS also appear negatively associated with firm performance, emphasizing the significance of efficient inventory management in improving the firm profitability.

Impact of the Critical Success Factors of Supplier Selection on Supply Chain Performance: A Study of the Healthcare Industry of Pakistan

Rajja Rashad — 2026-06-28

The study aimed to identify and prioritize critical success factors (CSFs) for improving supply chain performance in the context of healthcare industry of Pakistan. Five factors of supplier selection were identified from the literature and the relative importance of each was evaluated in determining the supply chain performance of the healthcare providers. 83 valid questionnaires were used to measure the factors with the results showing quality, cost and service as pivotal among other CSFs of Supplier Selection for SCP. Supplier quality was the most significant factor positively influencing improvements in supply chain performance of the buying hospital. Cost associated with purchasing from suppliers as well as supplier services also had an impact, but supplier profile and risk showed no significant effect. Overall, the research results highlighted the significant correlation between the multi-criteria decision factors of supplier selection and supply chain performance in the healthcare sector.

The Determinants of Entrepreneurial Intentions among Youth in Balochistan: Evidence from a Developing Region

Aman Ullah — 2026-06-28

This study was conducted in Balochistan and discusses how financial literacy, financial attitude, financial knowledge would influence the entrepreneurial intentions of the youths in Balochistan province of Pakistan. In order to examine the impact of financial literacy, the study examined young business owners in Balochistan and their level of financial literacy. Data were gathered through the use of self-administered, structured questionnaires on 210 young entrepreneurs on their financial knowledge, financial attitude, financial education, and entrepreneurship. The author employed Partial Least Squares Structural Equation Modelling (PLS-SEM) to get the relationships between these factors and entrepreneurial intention. As per the findings, financial knowledge, financial attitude, and financial literacy have a positive impact on entrepreneurial intention. Moreover, the financial literacy, both overall and the elements of it make the entrepreneurial propensity of youth even greater. The findings of this research indicate that financial literacy must be encouraged to enhance entrepreneurial intentions. Specific financial education should be provided to the young individuals in Balochistan to increase their capacity to initiate new businesses that will benefit the economy.