The determinants of economic growth in Pakistan: does stock market development play a major role?
Paper
Paper/Presentation Title | The determinants of economic growth in Pakistan: does stock market development play a major role? |
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Presentation Type | Paper |
Authors | Rahman, Mohammad Mafizur (Author) and Salahuddin, Mohammad (Author) |
Journal or Proceedings Title | Proceedings of the 38th Australian Conference of Economists (ACE 2009) |
ERA Conference ID | 50287 |
Number of Pages | 22 |
Year | 2009 |
Place of Publication | Adelaide, Australia |
Web Address (URL) of Paper | https://editorialexpress.com/cgi-bin/conference/download.cgi?db_name=ACE09&paper_id=20 |
Conference/Event | 38th Australian Conference of Economists (ACE 2009) |
Australian Conference of Economists | |
Event Details | 38th Australian Conference of Economists (ACE 2009) Event Date 28 to end of 30 Sep 2009 Event Location Adelaide, Australia |
Event Details | Australian Conference of Economists ACE |
Abstract | This paper provides an empirical analysis of relationship between economic growth and its determinants with special focus on the stock market development in Pakistan. Using data for the period from 1971 to 2006 we have employed FMOLS and ARDL bounds-testing for the long run relationship and ECM for the short run dynamics. The findings suggest a positive relationship between efficient stock market and economic growth both in short run and long run. Financial instability and inflation have negative effect, and human capital and foreign direct investment have positive effect on growth. The results are consistent with the theoretical predictions. |
Keywords | stock market development; economic growth; co-integration |
ANZSRC Field of Research 2020 | 350208. Investment and risk management |
440499. Development studies not elsewhere classified | |
380205. Time-series analysis | |
Public Notes | File reproduced in accordance with the copyright policy of the publisher/author. |
Byline Affiliations | School of Accounting, Economics and Finance |
Southeast University, Bangladesh |
https://research.usq.edu.au/item/9z353/the-determinants-of-economic-growth-in-pakistan-does-stock-market-development-play-a-major-role
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