Foreign capital inflows-growth nexus and role of domestic financial sector: an ARDL cointegration approach for Pakistan
Article
Article Title | Foreign capital inflows-growth nexus and role of domestic financial sector: an ARDL cointegration approach for Pakistan |
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ERA Journal ID | 18221 |
Article Category | Article |
Authors | Shahbaz, Muhammad (Author) and Rahman, Mohammad Mafizur (Author) |
Journal Title | Journal of Economic Research |
Journal Citation | 15 (3), pp. 207-231 |
Number of Pages | 25 |
Year | 2010 |
Place of Publication | Korea |
ISSN | 1226-2153 |
1226-4261 | |
Web Address (URL) | http://www.JER.org.kr |
Abstract | This study explores the roles of foreign capital inflows and domestic financial sector development on economic growth in the case of Pakistan. Using annual data series of World Bank and Economic Survey of Pakistan over the period of 1971-2008, ARDL bounds testing approach to cointegration and Error Correction Model (ECM) are employed for long run and short run relationships, respectively. Empirical evidence reveals that foreign capital inflows have positive effect on economic growth. Financial sector’s development and public investment stimulate economic growth. Human capital stock and inflation also contribute to economic |
Keywords | foreign capital inflows; growth; ARDL |
ANZSRC Field of Research 2020 | 440499. Development studies not elsewhere classified |
380205. Time-series analysis | |
Public Notes | Copyright Asia Pacific Economic Association. |
Byline Affiliations | COMSATS University Islamabad, Pakistan |
School of Accounting, Economics and Finance |
https://research.usq.edu.au/item/q023v/foreign-capital-inflows-growth-nexus-and-role-of-domestic-financial-sector-an-ardl-cointegration-approach-for-pakistan
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