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Impact of financial development on economic growth: empirical evidence from Pakistan

Impact of financial development on economic growth: empirical evidence from Pakistan

Jalil, Abdul and Feridun, Mete (2011) Impact of financial development on economic growth: empirical evidence from Pakistan. Journal of the Asia Pacific Economy, 16 (1). pp. 71-80. ISSN 1354-7860 (Print), 1469-9648 (Online) (doi:10.1080/13547860.2011.539403)

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Abstract

The present article aims at investigating the effects of financial sector development on economic growth in the case of Pakistan from 1975 to 2008. A composite financial depth indicator is built using principal component analysis (PCA) and is used in the Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration. The results suggest the presence of a positive and significant relationship between financial development and economic growth.

Item Type: Article
Additional Information: [1] First available online 13th January 2011
Uncontrolled Keywords: financial development, economic growth, ARDL, PCA
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Faculty / Department / Research Group: Faculty of Business > Greenwich Political Economy Research Centre (GPERC)
Faculty of Business > Department of International Business & Economics
Faculty of Business
Related URLs:
Last Modified: 02 Nov 2016 13:52
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/7924

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