Financial Development and Economic Growth: The Case of Pakistan

Muhammad Khan, Abdul Qayyum and Saeed Ahmed Sheikh
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Saeed Ahmed Sheikh: University of Azad Jammu and Kashmir, Muzaffarabad (Azad Kashmir).

The Pakistan Development Review, 2005, vol. 44, issue 4, 819-837

Abstract: In this study, the relationship between financial depth and economic growth is examined in an Autoregressive Distributed Lag (ARDL) framework for Pakistan utilising annual data for the period 1971- 2004. The main empirical findings suggest that both in the long and the short run, financial depth exerted a positive effect on economic growth. The findings also suggest that in the long run, real interest rate had a significant and positive effect on economic growth. However, the short-run response of the real interest

Date: 2005
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Working Paper: Financial Development and Economic Growth: The Case of Pakistan (2005)
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