Does Financial Sector Promote Economic Growth in Pakistan? Empirical Evidences From Markov Switching Model
Dados Bibliográficos
| ID | 3297789 |
|---|---|
| Autores | Abdul Rahman (0000-0003-1893-9756, COMSATS University Islamabad, autor correspondente), Muhammad Arshad Khan (0000-0003-4642-2498, COMSATS University Islamabad), Lanouar Charfeddine (0000-0003-4324-6644, Qatar University) |
| Ano | 2020 |
| Volume | 10 |
| Fascículo | 4 |
| Data de publicação | 2020-10-01 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | SAGE Open (JOURNAL) |
| Identificadores do periódico | ISSN: 2158-2440 • E-ISSN: 2158-2440 |
| Editora | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/2158244020963064 |
| OpenAlex | W3092451699 |
| Idioma | EN |
| Citações recebidas | 6 |
| Referências citadas | 77 |
This study investigates the financial development-economic growth relationship in Pakistan over the period 1975-2017 using the Markov Switching methodology. The financial development index has been constructed using the principal component analysis. Unexpectedly, the empirical result shows that financial development contributing negatively to economic growth in the high and the low economic growth regimes in Pakistan. Moreover, the results indicate that labor force retards economic growth with a higher magnitude. A significant positive effect of gross fixed capital formation on economic growth is also observed. The results reveal that policymakers may revisit the financial development policies so that the financial sector may contribute positively to economic growth process in Pakistan. In this respect, more steps are needed to further liberalize the financial sector to enhance economic growth in Pakistan
Capital formation · Economic growth · Economic sector · Economics · Economy · Financial capital · Financial sector · Financial sector development · Gross domestic product · Gross fixed capital formation · Human capital · Macroeconomics · Monetary economics · Banking stability, regulation, efficiency · Fiscal Policy and Economic Growth · Microfinance and Financial Inclusion · Finance
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| Obras citantes distintas | 6 |
|---|---|
| Citações por ano | 1,2 |
| Intervalo de citações | 2021 - 2025 (5) |
| Velocidade de citação | recent |
| Altamente citado | Não |
| Tipos de citação | Neutras: 6 |