The Role of Technological Advancement in Agriculture Sector on Economic Growth of Pakistan

Afsheen Hashmat and Ghulam Ghouse ()
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Ghulam Ghouse: University of Lahore, Pakistan.

iRASD Journal of Economics, 2019, vol. 1, issue 1, 21-31

Abstract: This study is designed to explore the role of technological advancement in the agricultural sector in the context of the economy of Pakistan. The data set is based on the period from 1972 to 2019. The Autoregressive Distributed Lag (ARDL) bound testing employed to identify the short run and long-run relationships between the technological advancement in the agricultural sector and gross domestic product. Granger causality also applied to find out the direction of causal relationships. The ARDL cointegration results indicate that there is a positive relationship between technological advancement in the agricultural sector and gross domestic product in the short run and long run. The Granger causality results also indicate that the GDP growth also Granger cause the agriculture technology. And stability tests show that the model CUSUM andCUSUM of squares indicate that models are valid. The results suggest that technological advancement in the agricultural sector has a positive impact on GDP in the case of the Pakistan economy. Technological advancement in the agricultural sector strengthens Pakistan’s economy. There is a need to pay more attention by the government administration to provide technological facilities in the agricultural sector, properly and efficiently to get more benefits which ultimately enhance the agriculture growth and development of Pakistan’s economy.

Keywords: Technological advancement; Economic growth; Foreign Direct Investment; Domestic Investment. Agriculture. (search for similar items in EconPapers)
JEL-codes: E22 F35 O32 O47 Q17 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ani:irdjoe:v:1:y:2019:i:1:p:21-31

DOI: 10.52131/joe.2019.0101.0002

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