Financial Structure, Misery Index, and Economic Growth: Time Series Empirics from Pakistan

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ID: 39171
2019
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Abstract
This study empirically analyzes the impact of the financial structure and misery index on economic growth in Pakistan. We adopted Autoregressive-Distributed Lag (ARDL) for a co-integration approach to the data analysis and used time series data from 1989 to 2017. We used GDP as the dependent variable; the Financial Development index (FDI) and misery index as the explanatory variables; and remittances, real interest, and trade openness as the control variables. The empirical results indicate the existence of a long-term relationship among the included variables in the model and the FD index, misery index, interest rate, trade openness, and remittances as the main affecting variables of GDP in the long run. The government needs appropriate reform in the financial sector and external sector in order to achieve a desirable level of economic growth in Pakistan. The misery index is constructed based on unemployment and inflation, which has a negative implication on the economic growth, and the government needs policies to reduce unemployment and inflation.
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wang2019financialjournal Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Wang, Nianyong;Shah, Muhammad Haroon;Ali, Kishwar;Abbas, Shah;Ullah, Sami;
Journal journal of risk and financial management
Year 2019
DOI
DOI not found
URL
https://www.mdpi.com/1911-8074/12/2/100
Keywords Keywords not found

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