Impact of financial development on economic growth: empirical evidence from Pakistan
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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)
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Official URL: http://dx.doi.org/10.1080/13547860.2011.539403
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 |
| School / Department / Research Groups: | School of Business School of Business > Department of International Business & Economics |
| Related URLs: | |
| Last Modified: | 13 Apr 2012 11:56 |
| URI: | http://gala.gre.ac.uk/id/eprint/7924 |
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