Theoretical and Applied Economics
No. 6 / 2012 (571)
Fiscal, Monetary Policies and Institutions’ Role (Political, Social and Economic) in Pakistan
Government College University, Lahore, Pakistan
Muhammad Wasif SIDDIQI
Government College University, Lahore, Pakistan
Abstract. The purpose of this study is to test the fundamental relationship between fiscal, monetary policies and institutions in Pakistan from 1976 to 2008. These policies are roadmap in the progress of a country. No doubt both these policies are useful tools in the hands of the government to increase the per capita GDP of the country. Such policies depict the performance level of institutions of a country. Better institutions leads to higher level of growth. Institutions perform significant role in the progress of any country. The growth targets can be achieved through institutions. Higher the quality of institutions, higher the performance would be shown by economy. Countries can reach middle-income levels despite some corruption, but further growth requires much better institutions (Easterly, 2001, pp. 234-235, 245-248, Rodrik, 2003, pp. 16-17).
Kwiatkowski et al (1992) test is used to test unit root and short run relationship is analyzed through ECM. Auto regressive distributed lags (ARDL) shows that there is long run relationship among growth policies and institutions’ role in Pakistan.
Contents
Basel III – Between Global Thinking and Local Acting
Recovery of the Tourism Potential of the Central Development Region. Case Study
Fiscal, Monetary Policies and Institutions’ Role (Political, Social and Economic) in Pakistan
Outsourcing. The Concept
The Analysis of the Ethnical Discrimination on the Manpower’s Market under the Economical Crisis
The Local Development Initiatives in the Rural Development Context
Post-crisis Economy of the European Union in the Global Context
New Approaches to Social Economy
The Role of Accounting and Accounting Law in Establishing Public Economic Policies in the Post-crisis Period
Impact and Limitations Deriving from Basel II within the Context of the Current Financial Crisis
Models of the Economic Growth and their Relevance
The Limit between the Rational and Irrational Behaviour in the Economic Science
The Bureaucracy in the Current Economic Climate
Analysis of the American Economic System – from the Old Capitalism to the New Capitalism
The Economics of State Aid Control in the European Union during the Financial Crisis: the Challenge for a Post-Crisis Rhetoric