A Correlative Analysis of Modern Logistics Industry to Developing Economy Using the VAR Model: A Case of Pakistan
Autor: | Khalid Mehmood Alam, Dong Mu Mu, Saranjam Baig Baig, Salman Hanif |
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Jazyk: | angličtina |
Rok vydání: | 2020 |
Předmět: |
Correlative
050210 logistics & transportation Economics and Econometrics TA1001-1280 Article Subject Strategy and Management Mechanical Engineering 05 social sciences Developing country Context (language use) 010501 environmental sciences Investment (macroeconomics) 01 natural sciences Computer Science Applications Vector autoregression Transportation engineering 0502 economics and business Automotive Engineering Statistical analysis Business Transportation and communications Developed country Industrial organization HE1-9990 0105 earth and related environmental sciences |
Zdroj: | Journal of Advanced Transportation, Vol 2020 (2020) |
ISSN: | 0197-6729 |
DOI: | 10.1155/2020/8861914 |
Popis: | The modern logistics industry has opened new strategic perspectives in establishing its interrelation with economic growth. In recent years, understanding such an overlap has become a policy issue considering ever-increasing factors and their influence on this relation. Most existing studies have explored this interaction from a general perspective, or for developed countries. This paper explores time-series analysis of the dynamic variables and their inter-related influence in both the short and long run on the relationship between modern logistic industry and economic growth—a more specific perspective, particularly for developing countries. Accordingly, we exemplify our analysis by employing the vector autoregression (VAR) model to the most updated time series data of investment in the logistics industry and the economic growth of Pakistan from 1990 to 2018. The empirical findings endorse the previous studies’ outcomes and recognize the importance of sustainable economic development concerning continuously improving the logistics industry. However, a unidirectional relation is observed that economic growth leads to developing the logistics industry—economic growth exerts a significant demand-pull effect on Pakistan’s logistics. It implies that logistic industrial development is comparatively quicker in the geographical areas where economic growth is higher than those areas where economic growth is low. To conclude this study’s findings, logistics industry reforms should prioritize the selected geographical areas in improving the economy that would lead to the modern logistics industry’s development. As the model adopts Pakistan’s context, the overall statistical analysis can be generalized to other developing economies. These results would be of particular interest to strategy makers working in developing countries and help them design and develop modern transportation and logistics, coupled with interlinked technological factors, which would attract investment in the logistics industry for sustainable economic development. |
Databáze: | OpenAIRE |
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