Arbeitspapier

Trade, financial and growth nexus in Pakistan

This paper empirically investigates the impact of trade and financial liberalization on economic growth in Pakistan using annual observations over the period 1961-2005. The analysis is based on the bound testing approach of cointegration advanced by Pesaran et al (2001). The empirical findings suggest that both trade and financial liberalization policies play an important role in enhancing economic growth in Pakistan in the long-run. However, the short-run responses of real deposit rate and trade policy variables are very low, suggesting further acceleration of reform process. The feedback coefficient suggests a very slow rate of adjustment towards long-run equilibrium. The estimated equation remains stable over the period of study as indicated by CUSUM and CUSUMQ stability tests.

Language
Englisch

Bibliographic citation
Series: Economic Analysis Working Papers ; No. 2007,14

Classification
Wirtschaft
Economic Growth of Open Economies
General Financial Markets: General (includes Measurement and Data)
Economic Development: General
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

Event
Geistige Schöpfung
(who)
Khan, Muhammad Arshad
Qayyum, Abdul
Event
Veröffentlichung
(who)
Colegio de Economistas de A Coruña
(where)
A Coruña
(when)
2007

Handle
Last update
20.09.2024, 8:25 AM CEST

Data provider

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Object type

  • Arbeitspapier

Associated

  • Khan, Muhammad Arshad
  • Qayyum, Abdul
  • Colegio de Economistas de A Coruña

Time of origin

  • 2007

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