Exports-Led Growth Hypothesis in Pakistan: Further Evidence
Journal Title: Asian Economic and Financial Review - Year 2011, Vol 1, Issue 3
Abstract
The study considers the exports-led growth hypothesis using quarterly dataover the period 1990-2008 in case of Pakistan. For this purpose, Ng-Perronunit root test, ARDL bounds testing approach to cointegration and errorcorrection method (ECM) for short run dynamics have been applied. Ourresults indicate that exports are positively correlated with economic growthconfirming the validity of exports-led growth hypothesis. Exchange ratedepreciation decreases and real capital stock improves economic growth.
Authors and Affiliations
Muhammad Shahbaz| COMSATS Institute of Information Technology, Lahore Campus, Pakistan Email: shahbazmohd@live.com, Pervaz Azim| GC University Faisalabad, Pakistan, Khalil Ahmad| Government Vehari College, Vehari, Pakistan
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