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- Title
The Role of Foreign Remittances Inflows and Financial Sector Development in The Economic Growth of Pakistan.
- Authors
Karim, Nayab; Tariq, Muhammad; Khan, Muhammad Azam
- Abstract
This study explores the effects of foreign remittancesand financial sector developmenton Pakistan's economic growth during 1975-2019. Autoregressive Distributed Lag bound test has been applied to the data based on the results obtained from Phillips Perron and Augmented Dickey-Fuller tests. The findingsreveal that foreign remittances heighten economic growth both in the short-run and long-run. However, financial sector development turned significant in the short run and in the long-runits impact becomes insignificant. The findings suggest that the government needs to reduce the transaction-cost of sending remittances to the country and should take measures for financial sector development for boosting up the economic performance of the country.
- Subjects
PAKISTAN; ECONOMIC development; ECONOMIC expansion; ECONOMIC sectors; REMITTANCES
- Publication
Journal of Managerial Sciences, 2021, Vol 15, p1
- ISSN
1992-4364
- Publication type
Article