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 176
- Downloads 0
Measuring Sustainable Development through Eco-efficiency: A Case Study of Mega Cities of Pakistan
Imbalanced and unplanned social and economic development along with urbanization is the main reasons for environmental degradation in Pakistan. Eco-efficiency approach is used to make development tangible so that sustain...
Regional Institutional Barriers and Trade Outcomes: A New Empirical Evidence from Developing Economies of Four Continents
Objective: This study aims to explore the path of traditional nexus i.e. Trade Policy and Growth by using new road to development in which economic geography seems to be the driving force in institutional building and ul...
Trade Openness, innovation, and Economic Growth: A causal Effect Analysis of OECD Countries
The purpose of this paper is to examine the causal relationship between a country's economic growth and its trade openness, innovation, and technological advancement. We discover evidence that public policies...
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...
Exploring Cyclical Behavior of Functional Heads of Public Expenditure in Pakistan
Fiscal policy isusuallydesigned to stabilize business cycle fluctuationswith its countercyclical properties. Policy makers adopt expansionary fiscal policies in recessions and contractionary fiscal policies in booms. How...