Economic growth, Foreign direct investment, Autoregressive distributed lags model (ARDL), Causality, Pakistan and Turkey,

This article investigates how the response to devaluation of trade balance is affected, compared to J-curve hypothesis, by the presence of imported inputs in the production of exports. Using first the Almon lag technique and then the cointegration and the generalized impulse response function analysis, the J-curve effect is examined in two sectors of Turkish economy (manufacturing and mining), which use imported inputs at different rates. Based on the data covering the period from the first quarter of 1986 to the third quarter of 1998, our results indicate that in neither sector J-curve exists and that the violation of the J-curve effect is more severe in the sector with higher import content

PurposeTo apply the Tawhidi epistemology in the automobile industry as the paradigm of the Islamic socio‐scientific order in terms of its inherent knowledge‐centered worldview.Design/methodology/approachThe concepts of unity and unification of knowledge in a system‐wide sense are analytically developed in the framework of shuratic process or equivalently as the interactive, integrative and evolutionary process‐oriented methodology (IIE).FindingsThe analytical conceptualization is derived in the light of Qur'anic rules (ahkam) and recommended that policies, programs and instruments would jointly promote the development of mutual profitability and address the social milieu as well.Research limitations/implicationsTawhidi unification methodology of extensive participation and linkage can be applied widely.Originality/valueCertain policy recommendations in the light of the shari'ah precepts of this case study can be made.

No abstract

ARCH method, mean price distribution, price dynamics, C13, E31, Q13,