Economic Growth and its Determinants in Pakistan
نویسندگان
چکیده
This paper aims to investigate the impact of macroeconomic variables on economic growth after Structural Adjustment Program (SAP) in Pakistan. In doing so, study utilizes the quarterly time series data from 1990 to 2007. Advanced Autoregressive Distributed Lag model (ARDL) approach has been employed for co-integration and error correction model (ECM) for short-run results in the case of Pakistan. Empirical investigations indicate that credit to private sector (financial development), foreign direct investment and inflow of remittances correlate positively with economic growth in the long run. High inflation rate and trade-openness slow down the speed of growth rate in short as well as long run. ∗ Authors are M. Phil Students and Professor of Economics at NCBA&E, Lahore, Pakistan
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