Exports-Led Growth Hypothesis in Pakistan: Further Evidence
Muhammad Shahbaz (),
Pervaz Azim and
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Pervaz Azim: GC University Faisalabad,Pakistan
Khalil Ahmad: Government Vehari College,Vehari,Pakistan
Asian Economic and Financial Review, 2011, vol. 1, issue 3, 182-197
The study considers the exports-led growth hypothesis using quarterly data over the period 1990-2008 in case of Pakistan. For this purpose, Ng-Perron unit root test, ARDL bounds testing approach to cointegration and error correction method (ECM) for short run dynamics have been applied. Our results indicate that exports are positively correlated with economic growth confirming the validity of exports-led growth hypothesis. Exchange rate depreciation decreases and real capital stock improves economic growth.
Keywords: Exports; Economic Growth; ARDL Approach (search for similar items in EconPapers)
JEL-codes: F10 E10 C22 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:asi:aeafrj:2011:p:182-197
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