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Do Economic, Institutional, or Political Variables Explain Economic Growth

Citation

Ahmad, H and Arif, A and Mohyuddin, SM, Do Economic, Institutional, or Political Variables Explain Economic Growth, International Journal of Business and Management, 7, (24) pp. 29-34. ISSN 1833-3850 (2012) [Refereed Article]


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

DOI: doi:10.5539/ijbm.v7n24p29

Abstract

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.

Item Details

Item Type:Refereed Article
Keywords:economic growth, political varaibles, trade openness
Research Division:Economics
Research Group:Applied Economics
Research Field:Economic Development and Growth
Objective Division:Economic Framework
Objective Group:Macroeconomics
Objective Field:Economic Growth
Author:Ahmad, H (Mr Hasnat Ahmad)
ID Code:111761
Year Published:2012
Deposited By:Menzies Institute for Medical Research
Deposited On:2016-10-05
Last Modified:2018-05-04
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