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Exports-Led Growth Hypothesis in Pakistan: Further Evidence

Akmal, Muhammad Shahbaz and Ahmad, Khalil and Ali, Muhammad (2009): Exports-Led Growth Hypothesis in Pakistan: Further Evidence. Forthcoming in:

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Abstract

This paper examines the exports-led growth hypothesis using quarterly data from 1990 up to 2008 for Pakistan. In doing so, ARDL bounds testing approach, Error Correction Method (ECM) and Ng-Perron test for integration have been employed. The empirical findings show that exports are positively correlated with economic growth. This confirms the validity of exports-led growth hypothesis in the case of Pakistan both for short run and long span of time. Exchange rate depreciation declines economic growth while running real capital stock improves it.

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