Theoretical and Applied Economics
No. 9 / 2014 (598)
Assessment of key determinants for economic growth in Pakistan
Govt. College of Commerce and Management Sciences, Bannu Township Bannu, Pakistan
Saleem KHAN
Gomal University D.I. Khan, Pakistan
Farid ULLAH
Gomal University D.I. Khan, Pakistan
Abstract. This study actually attempts to investigate economic growth determinants in case of Pakistan for the period of 1980 to 2009. The autoregressive distributed lag (ARDL) and error correction model (ECM) have employed to investigate the long run and short run parameters between economic growth and its major determinants. Prior the stated approaches has confirmed through ADF test that all of the variables are integrated first order i.e. I (1). The results from ARDL show that there is co-integration between economic growth and explanatory variables that are real domestic investment, foreign investment, export, remittances and literacy rate. The estimated long run elasticities of economic growth with respect to domestic investment, foreign investment, exports, remittances and literacy rate were found as, 0.121, 0.026, 0.020, 0.065 and 0.224. Further, results depict that the error coefficient term is -0.67 and significant, suggest 67 percent adjustment in a year.
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