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- Title
Multivariate-based Granger causality between financial deepening and poverty: the case of Pakistan.
- Authors
Rehman, Ijaz; Shahbaz, Muhammad
- Abstract
This paper deals with the empirical investigation of causal relationship between financial deepening, economic growth and poverty reduction using quarter frequency data in case of Pakistan over the period of 1972-2011. We applied the autoregressive distributed lag model bounds testing approach by incorporating structural breaks stemming in the series. The order of integration of the variables is examined by applying structural break unit root test. Our empirical exercise indicated that the long run relationship between financial deepening, economic growth and poverty reduction exists in case of Pakistan. The causality analysis implied that causality results are sensitive with the use of proxy for poverty reduction.
- Subjects
PAKISTAN; GRANGER causality test; FINANCIAL research; POVERTY; EMPIRICAL research; MULTIVARIATE analysis
- Publication
Quality & Quantity, 2014, Vol 48, Issue 6, p3221
- ISSN
0033-5177
- Publication type
Article
- DOI
10.1007/s11135-013-9952-z