Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy
This study aims to investigate the impact of internal and external determinants of economic growth on the economic growth of Pakistan. Major internal determinants include stock of physical capital and developmental expenditures, while external determinants include trade openness and real effective e...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Editura ASE Bucuresti
2013-09-01
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| Series: | Romanian Economic Journal |
| Subjects: | |
| Online Access: | http://www.rejournal.eu/Portals/0/JE%2049/Khalid,%20Zaman.pdf |
| _version_ | 1828778113758134272 |
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| author | Muhammad Jamil Rao Muhammad Atif Khalid Zaman |
| author_facet | Muhammad Jamil Rao Muhammad Atif Khalid Zaman |
| author_sort | Muhammad Jamil |
| collection | DOAJ |
| description | This study aims to investigate the impact of internal and external determinants of economic growth on the economic growth of Pakistan. Major internal determinants include stock of physical capital and developmental expenditures, while external determinants include trade openness and real effective exchange rate. In doing so, study utilizes the annual time series data from 1972 to 2011. Advanced Autoregressive Distributed Lag model (ARDL) approach has been employed for co-integration and error correction model (ECM) for short-run results. Empirical investigations indicate that developmental expenditures, physical capital and trade openness are positively correlated with economic growth in long run, while real effective exchange rate negatively and significantly affect economic growth in long run in case of Pakistan. |
| first_indexed | 2024-12-11T16:35:48Z |
| format | Article |
| id | doaj.art-2f3611c922494da4bebf74edf5b4db0a |
| institution | Directory Open Access Journal |
| issn | 1454-4296 2286-2056 |
| language | English |
| last_indexed | 2024-12-11T16:35:48Z |
| publishDate | 2013-09-01 |
| publisher | Editura ASE Bucuresti |
| record_format | Article |
| series | Romanian Economic Journal |
| spelling | doaj.art-2f3611c922494da4bebf74edf5b4db0a2022-12-22T00:58:28ZengEditura ASE BucurestiRomanian Economic Journal1454-42962286-20562013-09-01XVI497390Internal and External Determinants of Economic Growth: A closer look at Pakistan’s EconomyMuhammad JamilRao Muhammad AtifKhalid ZamanThis study aims to investigate the impact of internal and external determinants of economic growth on the economic growth of Pakistan. Major internal determinants include stock of physical capital and developmental expenditures, while external determinants include trade openness and real effective exchange rate. In doing so, study utilizes the annual time series data from 1972 to 2011. Advanced Autoregressive Distributed Lag model (ARDL) approach has been employed for co-integration and error correction model (ECM) for short-run results. Empirical investigations indicate that developmental expenditures, physical capital and trade openness are positively correlated with economic growth in long run, while real effective exchange rate negatively and significantly affect economic growth in long run in case of Pakistan.http://www.rejournal.eu/Portals/0/JE%2049/Khalid,%20Zaman.pdfEconomic growthtrade opennessreal effective exchange ratecointegrationPakistan |
| spellingShingle | Muhammad Jamil Rao Muhammad Atif Khalid Zaman Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy Romanian Economic Journal Economic growth trade openness real effective exchange rate cointegration Pakistan |
| title | Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy |
| title_full | Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy |
| title_fullStr | Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy |
| title_full_unstemmed | Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy |
| title_short | Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy |
| title_sort | internal and external determinants of economic growth a closer look at pakistan s economy |
| topic | Economic growth trade openness real effective exchange rate cointegration Pakistan |
| url | http://www.rejournal.eu/Portals/0/JE%2049/Khalid,%20Zaman.pdf |
| work_keys_str_mv | AT muhammadjamil internalandexternaldeterminantsofeconomicgrowthacloserlookatpakistanseconomy AT raomuhammadatif internalandexternaldeterminantsofeconomicgrowthacloserlookatpakistanseconomy AT khalidzaman internalandexternaldeterminantsofeconomicgrowthacloserlookatpakistanseconomy |