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Do Economic, Institutional, or Political Variables Explain Economic Growth

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posted on 2023-05-18, 22:44 authored by Hasnat AhmadHasnat Ahmad, Arif, A, Mohyuddin, SM
This study analyzed the impact of trade openness and institutional variables on GDP growth of Pakistan using annual time series data for the period 1984 to 2010. This study follows the Johansen co-integration analysis and error correction model to analyze the long run relationship among the variables. The result of Johansen co-integration indicates that there exists a long run equilibrium relationship among the variables in the model. There is a negative long-run relationship between real GDP and trade openness. The relationship between government stability (GOV_ST) and real GDP is found to be positive whereas the association between real GDP and corruption is found to be negative. The error correction term (ECT) is statistically significant at the 5% level of significance suggests a moderate speed of convergence to equilibrium.

History

Publication title

International Journal of Business and Management

Volume

7

Issue

24

Pagination

29-34

ISSN

1833-3850

Department/School

Menzies Institute for Medical Research

Publisher

Canadian Center of Science and Education

Place of publication

Canada

Rights statement

Copyright 2012 The Authors Licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) https://creativecommons.org/licenses/by/4.0/

Repository Status

  • Open

Socio-economic Objectives

Economic growth

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