Artikel

Financial development - economic growth nexus in Pakistan: New evidence from the Markov switching model

This paper investigates the impact of financial development on economic growth in Pakistan using the Markov Switching Model over the period 1980-2017. The results based on two-state Markov switching model confirm the Schumpeter's view that finance spurs growth. The result reveals that financial development augments economic growth in both high and low economic growth regimes in Pakistan. However, the impact of financial development on economic growth is found to be relatively higher in the high-growth regime. This implies that economic growth responds differently to financial development in low-growth and high-growth regimes. Among the control variables, trade openness and government expenditures impact economic growth positively, while labour force exerts a negative impact on economic growth.

Sprache
Englisch

Erschienen in
Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 8 ; Year: 2020 ; Issue: 1 ; Pages: 1-15 ; Abingdon: Taylor & Francis

Klassifikation
Wirtschaft
Single Equation Models; Single Variables: Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
Economic Growth of Open Economies
Institutions and Growth
Thema
Financial development

economic growth

regime switching model
high- and low-growth regime
Pakistan

Ereignis
Geistige Schöpfung
(wer)
Rahman, Abdul
Khan, Muhammad Arshad
Charfeddine, Lanouar
Ereignis
Veröffentlichung
(wer)
Taylor & Francis
(wo)
Abingdon
(wann)
2020

DOI
doi:10.1080/23322039.2020.1716446
Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Rahman, Abdul
  • Khan, Muhammad Arshad
  • Charfeddine, Lanouar
  • Taylor & Francis

Entstanden

  • 2020

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