Concessional Debt and Growth in Services Sector of Pakistan
| Autor: | Muhammad Abdullah, Ayza Shoukat, Atif Ali Gill |
|---|---|
| Rok vydání: | 2021 |
| Zdroj: | Global Social Sciences Review. :215-223 |
| ISSN: | 2616-793X 2520-0348 |
| DOI: | 10.31703/gssr.2021(vi-ii).22 |
| Popis: | The current study aims to explore the relationship between concessional debt and the services sector growth of Pakistan. The annual time series data for the period 1972 to 2019 has been employed. To find out the stationarity and order of integration, the ADF testis utilized. For the long-run relationship, Johansen's co-integration methodology is employed. The empirical results of the study manifest that growth in the services sector is sensitive to concessional debt in the long run. All other explanatory variables also demonstrated a positive and significant effect on services sector growth. VECM method is applied for short-run analysis. The lag of concessional debt is also positive in the short run. A negative and statistically significant lag of error correction term (ECT-1) reasserts the long-run relationship between services sector growth and concessional debt along with other explanatory variables. |
| Databáze: | OpenAIRE |
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