WHAT MATTERS FOR ECONOMIC GROWTH IN PAKISTAN: FISCAL POLICY OR ITS COMPOSITION?
Journal Title: Asian Economic and Financial Review - Year 2013, Vol 3, Issue 2
Abstract
This study employed autoregressive distributed lag (ARDL) model to examines the impact of various fiscal policy variables, such as, productive expenditures, non-productive expenditures, distortionary taxes and non-distortionary taxes on economic growth in Pakistan in the framework of endogenous growth model. Our results revealed that non-productive expenditures and non-distortionary taxation have neutral impact on economic growth in both the long run and short run. Productive expenditures affect economic growth positively and significantly. Distortionary taxes retard economic growth. Human capital proxied by secondary school enrollment enhances per capita GDP. Impact of labor force on GDP per capita is negative and insignificant.
Authors and Affiliations
Khalil Ahmad| Assistant Professor of Economics University of the Punjab, Lahore, Pakistan, Sajida Wajid| Lecturer Economics Department Minhaj University Lahore, Pakistan
Keywords
Related Articles
- EP ID EP1886
- DOI -
- Views 580
- Downloads 33
QUANTO INTEREST-RATE EXCHANGE OPTIONS IN A CROSS-CURRENCY LIBOR MARKET MODEL
The purpose of this paper is to price quanto interest-rate exchange options (QIREOs) based on a practical and easy-to-use interest-rate model. According to the payoff structure of QIREOs, the cross-currency LIBOR market...
INTEGRATING NEURAL NETWORK AND COLONIAL COMPETITIVE ALGORITHM: A NEW APPROACH FOR PREDICTING BANKRUPTCY IN TEHRAN SECURITY EXCHANGE
Bankruptcy filings are as high today as ever, calling into question the efficacy of existing bankruptcy prediction models. This paper tries to provide an alternative for bankruptcy prediction by integrated Multi Layered...
NON-ENERGY IMPORT DEMAND FUNCTION IN TURKEY: NEW EVIDENCE
This study estimates the non-energy demand function of Turkey in the period of 2003:Q1-2015:Q3. We estimated a long run and a short run model of imports, based on the traditional import approach. Then we analyzed income...
OIL PRICE AND EXCHANGE RATE IN MALAYSIA: A TIME-FREQUENCY ANALYSIS
The study analyzed the Granger-causal relationship in the time-frequency framework between return series of real oil price (ROP) and real effective exchange rate (REER) for Malaysia. In doing so, study relied on time-fre...
Inside Productivity of Microcredit in Bangladesh: A Surgical Analysis
Microcredit typically refers to petty collateral-free credits given to groups of poor members in the society for their socioeconomic emancipation. It is claimed to be an effective tool for enhancing income of the poor pr...