Lahore Journal of Economics

The Lahore Journal of Economics (LJE) is a biannual publication of the Lahore School of Economics and provides a unique perspective on issues critical to developing countries in general and South Asia in particular. The journal publishes articles on economics and its related fields and is widely circulated, both nationally and internationally. In addition to our biannual issues, the LJE also publishes a Special Edition which contains the papers and proceedings of the annual conference held at the Lahore School of Economics that focuses on current economic and business related issues pertaining to Pakistan.
The Lahore Journal of Economics is one of only three Social Science journals which have consistently received the highest rating by the Higher Education Commission of Pakistan (since 2003), and all the double-blind reviews and articles are evaluated by the Higher Education Commission on a yearly basis in order to rank the quality of the journal. At present, we are listed on the Journal of Economic Literature (JEL)EBSCOProQuestLibrary of Congress, and British Library databases.
The Lahore Journal of Economics is also ranked on the Australian Business Deans Council (ABDC) Journal Quality List:
Citation Metrics from RePEc and Google Scholar for the LJE can be found here:
CitEc (RePEc):
Google Scholar Metrics:
The annual subscription charges are Pak Rs 600.00 for national or US $50 for overseas subscribers. If you wish to subscribe, please make out a cross cheque / bank draft in the name of the Lahore School of Economics and send it to Intersection Main Boulevard Phase VI DHA and Burki Road, Burki 53200. Lahore, Pakistan.
Subscription Form


Aims and Scope

The Lahore Journal of Economics aims to add to the understanding of the workings of developing economies, with a particular emphasis on South Asia.
We consider for publication original theoretical and empirical contributions in economics (all areas) and related fields.
Subject areas include: education, health, employment, economic growth, productivity, financial markets, international trade and finance, political economy, and public finance.


Managing Editors
Dr. Azam Chaudhry, Lahore School of Economics
Dr. Theresa Thompson Chaudhry, Lahore School of Economics
Matthew McCartney, Charter Cities Institute

Ryan Brasher, Simpson University
Phillip Garner, Dixie State University
Momoe Makino, Institute of Developing Economies
Rajah Rasiah, Universiti Malaya
Jamshed Y. Uppal, Catholic University of America

Production Manager
Ms. Ayesha Khanum, Lahore School of Economics
Editorial Advisory Board
Ranil Abayasekara
     University of Peradeniya
Ahmed M. Khalid
     Universiti Brunei Darussalam
Baoyun Qiao
     Shanghai University
Sirimal Abeyratne
     University of Colombo
Amir Jahan Khan
     Institute of Business Administration
Simon Quinn
     University of Oxford
Julio Aguirre
     Universidad del Pacífico
Saleem Khan
     Bloomsburg University
Atonu Rabbani
     University of Dhaka
Rashid Amjad
     Lahore School of Economics
Shahrukh Rafi Khan
     Mount Holyoke College
Dhushyanth Raju
     World Bank
Mathew Andrews
     Harvard University
Amit Khandelwal
     Columbia University
Syed Kumail Abbas Rizvi
     Lahore University of Management Sciences
Mohammad Arzaghi
     American University of Sharjah
Rocco Macchiavello
     London School of Economics  
Anwar Shah
     Southwestern University of  Finance and  Economics, China
David Atkin
Minhaj Mahmud
     BRAC University
Sohaib Shahid
     International Monetary Fund
Shahid Amjad Chaudhry
     Lahore School of Economics
Adeel Malik
     University of Oxford
 Chad Syverson
     University of Chicago
Matthias Cinyabuguma
     World Bank
Inayat Ullah Mangla
     Western Michigan University
Gwendolyn A. Tedeschi
     Manhattan College
Sean Corcoran
     New York University
Ghazala Mansuri
     World Bank
Kensuke Teshima
     Institute of Economic Research (IER), Hitotsubashi University
Giovanna d'Adda
     Politecnico di Milano, University of Birmingham
Nawazish Mirza
     Excelia Université
 Eric Verhoogen
     Columbia University
Javier Arze del Granado
     World Bank
Ahmed Mushfiq Mobarak
     Yale University
Kate Vyborny
     Duke University
Ramani Gunatilaka
     University of Colombo
John Morrow
     Kings College London
Ahmed Kamaly
     Jönköping International Business School
Aamir Rafique Hashmi
     National University of Singapore
Kamal Munir
     University of Cambridge
Christopher Woodruff
     University of Oxford
S. Ajaz Hussain
     University of Toronto
Khalid Nadvi
     University of Manchester
Bushra Yasmin
     Fatima Jinnah Women University
Kazi Iqbal
     Bangladesh Institute of Development Studies
Zareen Naqvi
     Simon Fraser University
Sohail Zafar
     Lahore School of Economics
Sanjay Jain
     University of Cambridge
Ashish Narain
     World Bank
Michal Jerzmanowski
     Clemson University
Roshan Perera
     Advocata Institute
Editorial Staff : Tele. No: 0092 - 42 - 36560969
Telefax : 0092 - 42 - 36560905
Publisher : Lahore School of Economics, Lahore, Pakistan.
Correspondence relating to subscriptions and changes of address should be sent to The Lahore Journal of Economics, Intersection Main Boulevard Phase VI DHA and Burki Road, Burki 53200. Lahore, Pakistan.
No responsibility for the views expressed by authors and reviewers in The Lahore Journal of Economics is assumed by the Editors, the Editorial Board and the Publisher.
Copyright by: Lahore School of Economics



Notes for Authors

1. The first page of the manuscript should have

The title of the paper,
The name(s) of author(s),
An abstract of about 150 words,
A footnote giving the current affiliation of the authot(s),
Four to six keywords, and
Acknowledgments of finding

The cover page should be submitted as a separate file from the Blinded Manuscript.

2. The Blinded Manuscript must exclude the names of the author(s).
3. The Lahore Journal will publish empirical papers only if the data used in the analyses are clearly and precisely documented and are readily available to the journal reviewer for purposes of replication. At the time of submission of papers that have empirical work, authors must provide to the Lahore Journal, the data (in Microsoft EXCEL format, SPSS, or Stata) required for the replication of results. These should be included as a separate file as part of the submission.
4. The names of two potential referees along with their contact information should be given in a separate file as part of the submission.
5. References cited in the text should include the name(s) of author(s) with the year of publication in parentheses, and all references should conform to APA style manual.
6. All references used in the text should be listed at the end of the text in alphabetical order of the authors’ surnames and following the APA style manual.
7. The graphic format for each mathematical formula, diagram, figure or chart should be in text mode for further editing. Tables for the main text and each of its appendices should be numbered sequentially and separately. The title of each table should clearly describe the contents. The source of the table should be given immediately below the line at the bottom of the table. Tables and figures can be included as a part of the blinded manuscript.
8. Detailed derivations of any main mathematical results reported in the text should be submitted as a separate file as part of the submission.

Submission Guidelines

All articles that are submitted to the Lahore Journal of Economics go through an initial double-blind desk review by two editors. If an article passes this initial process, it undergoes a double-blind review in which an international academic and a local academic formally review each article. If the reviewers find that the article has the potential to make a contribution to the field of economics or business, the author(s) has the opportunity to revise and resubmit their article along with a document which addresses (point-by-point) all of the issues raised by the reviewers.
The reviewers for articles of the Lahore Journal of Economics come from the Editorial Advisory Board, comprised of high level academics from prestigious institutions in Pakistan, US and Europe.
There are no submission or publication fees for the Lahore Journal of Economics. Manuscripts can be submitted at

Publication Malpractice and Ethics Statement of the Lahore Journal of Economics

The Lahore Journal of Economics follows a strict code of conduct which is to be followed by all the parties associated with the publication process, including the authors, the editors, the editorial board, the peer reviewers, the publisher and the readers. This code of conduct is derived from the Committee on Publication Ethics (COPE) Code of Conduct guidelines which can be found at The principal responsibilities lie with the editors, the authors and the reviewers and are laid out below:

I. Responsibilities of the Editors

A. Publication Decisions & Accountability
The editors of the Lahore Journal of Economics are responsible and accountable for all decisions regarding the publication of articles. These decisions are taken in light of the objectives of the journal and the policies and guidelines of the editorial board. During the publication process, the integrity and the intellectual and ethical standards of the journal should not be compromised at any point. The editors should at all times be willing and able to publish clarifications, corrections, apologies, retractions and negations as needed.
B. Fairness
All papers, articles, manuscripts submitted to the Lahore Journal must be evaluated for original content regardless of the gender, race, orientation, ethnic origin, religious beliefs, political philosophy, or citizenship of the author(s).
C. Confidentiality
The editors and the editorial staff cannot disclose any information regarding a submitted paper, article or manuscript other than to the corresponding author, the potential reviewers, the reviewers, the editorial staff, the editorial board and to the publisher.
D. Full Disclosure, conflicts of interest, and other issues
When considering retracting, issuing corrections or issuing expressions of concern regarding papers, manuscripts or articles, the editors of the Lahore Journal of Economics will base their decisions on the journal’s publication guidelines and COPE’s Guidelines for Retracting Articles.
None of the unpublished work and the accompanying information (including data and programs) can be used by the editors or anyone related to the journal without the explicit written approval of the author(s). Any ideas, information or knowledge that is obtained from the review process should be kept confidential and cannot be used by the editors or the staff for personal or professional benefit. The editors must ensure that advertising, commercial revenues, or reprints have no impact on the editorial decisions taken regarding submissions.
A fair, transparent and suitable peer review process must be ensured by the editors. If any conflicts of interest exist or arise during the review process, the editor(s) must refrain from handling the relevant manuscripts.

II. Responsibilities of the Author

A. Originality and Plagiarism
The author(s) must ensure that papers, manuscripts, articles that are submitted to the Lahore Journal of Economics are entirely original works, and if the author(s) have used any work, words or and/or ideas from any other sources the authors must ensure that this work has been properly cited and/or quoted.
B. Acknowledging of Sources
Complete and proper acknowledgement of the work of others should be given. Any author(s) whose reported work has been influenced by publications, authors, ideas should cite these clearly.
C. Authorship of the Paper
The authorship of any submitted manuscripts, paper, and articles must be limited to those individuals who have made significant contributions to the design, conception, execution, and/or interpretation of the submitted work. All of those that significantly contributed to the work submitted to the journal should be given authorship.
D. Reporting standards
Any original research which is submitted to the Lahore Journal of Economics must present an accurate description of the work undertaken for the paper, and an objective discussion of the significance of the undertaken work. Any of the underlying data or facts that have been used in the work should be accurately and completely represented in the paper. The work should contain sufficient details of sources and references in order for others to replicate the findings of the paper. Any fraudulent or inaccurate statements as well as misrepresentations of the data and/or facts constitute unethical behavior and are unacceptable.
E. Data Access and Retention
When submitting original works for consideration, the authors are also required to provide the raw data which may have been used in connection with the paper for editorial review. The authors should also be prepared to give public access to this data, if possible, and should be prepared to retain this data for a reasonable period of time after publication in the Lahore Journal of Economics.
F. Redundant, Multiple or Concurrent Publications
In general, any author should not publish papers, manuscripts, articles that essentially describe the same research work in more than one primary publication or journal. The concurrent submission of the same article, manuscript, or paper to more than one journal will be considered unethical behavior and is not acceptable.
G. Fundamental errors in publications
If any author finds any significant errors or inaccuracies in his/her own published work, the author is obliged to immediately inform the journal editors or publisher and to work with the editors and the publisher to correct or retract the paper in the form of an erratum.

III. Responsibilities of the Reviewer

A. Contributing to editorial decisions
The review process of the Lahore Journal of Economics is a double blind process. The purpose of the blind peer review is to guide the editor in making editorial decisions about submitted articles, manuscripts and papers and, potentially provide guidance to the author(s) in improving the submission.
B. Promptness
The editors should be promptly notified if the selected reviewer is unable or unqualified to review the research stated in the paper, article, or manuscript.
C. Confidentiality
During the review process, strict confidentiality should be maintained at all times. The unpublished work and the accompanying information (including data and any other accompanying information) can only be used by the reviewer during the review process and cannot be shared with others.
D. Standards of objectivity
During the review process, the reviewer must remain objective. The Lahore Journal of Economics will not accept personal criticism of the author(s). All the comments by the reviewer’s comments and views must be clearly supported by facts and arguments grounded in academic research.
E. Acknowledgement of Sources
One of the key roles of the reviewer should to identify relevant published research work that has not been cited in the submitted research. In the reviews, any observations, derivations, or argument made by the reviewer that have been previously stated must be accompanied by all of the relevant citations. The reviewer must also point out any significant overlap and/or similarity between the manuscript that is being reviewed and any other previously published research to the editor and the author(s).