Does Financial Liberalization Stimulate Businesses’ Growth?
Journal Title: Pakistan Journal of Economic Studies - Year 2019, Vol 2, Issue 1
Abstract
The present study attempts to determine the impact of financial liberalization on non-financial Pakistani firms’ growth. Since Pakistan is one of those few developing countries where financial reforms were implemented successfully in the 1990s, and a large portion of public sector financial institutions was transferred to private ownership. For the empirical investigation, a data set of 515 firms listed on the Pakistan Stock Exchange (PSX) is used. The results indicate that financial development of the country is negatively associated with firms’ growth. Equity finance is found as an important source of raising finance for firms in Pakistan. The economic development also played a crucial role to boost local businesses.
Authors and Affiliations
Kashif Imran
Keywords
Related Articles
- EP ID EP692924
- DOI -
- Views 154
- Downloads 0
Causal Economic Interactions between CO2 Emissions and Economic Growth
The environmental penalties of trade openness and foreign direct investment (FDI) got significant consideration in the current era. In this article, we aim to explore the impact of causal interactions of CO2 emission wit...
Panel Data Analysis of E-Government and Growth Performance in the Presence of Trade
For sustainable development, countries are taking measures that support sustainable growth. Among these measures, trade is a major factor affecting growth. With increasing trade liberalization, it has been a challenge fo...
Fiscal Marksmanship in Pakistan: With Special Focus on Province Khyber Pakhtunkhwa
The present study aims to analyze the state of fiscal marksmanship in using annual time series secondary data. The findings revealed that the budgetary forecast in Pakistan at the federal level and...
Exploring dynamic causal linkages between Major Stock Exchanges of Asia and established markets of UK, USA, Germany and Japan - A comparative analysis of Pre and Post era of Global Financial Crisis
This study explores the linkages between regional stock markets of three Asian (China, Pakistan and India) countries with well-established stock markets of Germany, United Kingdom, United States of America and Japan. Imp...
Monetary Transmission Mechanism and Macroeconomy in Pakistan
Monetary policy is considered a vital policy to manage aggregate demand. The main purpose of the analysis is to comprehend the accessibility of channels of the monetary transmission mechanism and to det...