Causality between exports, world income and economic growth in Pakistan

Muhammad Afzal

45 citations0/0 files storedInternational Economic Journal

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Global trade and economics Economic Growth and Productivity Economic and Technological Innovation

Abstract

This paper investigates the direction of causation between GDP representing economic growth, exports and its different categories, imports and world income. After experiencing vigorous import-substitution in the past decades, Pakistan adopted an outward-looking strategy in the late 1980s with an emphasis on export promotion. A strong and stable relationship between GDP and exports and bi-directional causality between manufactured exports and GDP has been found. Export promotion policy is pursued consistently with an emphasis on manufactured exports and this is most likely to contribute adequately to economic growth in the long run.

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References

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