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Money Monetization and Economic Growth in Pakistan

Muhammad Zia Ullah Khan, Muhammad Illyas, Muqqadas Rahman and Chaudhary Abdul Rahman
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Muhammad Zia Ullah Khan: Superior University, Lahore, Pakistan
Muhammad Illyas: Superior University, Lahore, Pakistan
Muqqadas Rahman: Hailey College of Commerce, Lahore, Pakistan
Chaudhary Abdul Rahman: Superior University, Lahore, Pakistan

International Journal of Economics and Empirical Research (IJEER), 2015, vol. 3, issue 4, 184-192

Abstract: Purpose: Money plays an important role in determining the national income that economic theory is a widely accepted concept. The study economic development in Pakistan and Money monetization investigate the relationship between the long- terms. Methodology: Based on endogenous growth theory, this study empirically developed models of standard gross domestic product (GDP) based on examination term is negative and significant.Money supply, the study applies error correction model. This study from 1980 to 2012 time series data uses. Findings: Co- integration results show that the variables are co- integrated. That long stable equilibrium relationship has ended. Error correction results a dependent variable and inflation, income gap, investment money supply (M-2) independent variable, Auto- regressive distributive share to the integration interval (ARDL) bound testing approach to long- term equilibrium relationship between the variables included in the model to check is used to examine short -run relationship between money and economic growth. Recommendations: This study open new directions for further research.

Keywords: GDP; Inflation; Income disparity; Investment; Money (search for similar items in EconPapers)
JEL-codes: F43 P22 P33 (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:ijr:journl:v:3:y:2015:i:4:p:184-192