Dynamic Modeling of Private Investment in the Agricultural Sector of Pakistan
AbstractThe study attempts an empirical assessment of the effects of macroeconomic instability and public expenditures on private fixed investment in agriculture. We estimated the specified private fixed investment model. First applying ADF test for unit root analysis on individual series, and then examining cointegration relationship between private fixed investment in agriculture and its determinants using Johansen (1988) method. The stable short-run dynamic function for private fixed investment in agriculture is estimated. The result confirmed that public development expenditures enhance the private investment in agriculture sector. Macroeconomic instability and uncertainty depresses private inves tment for agriculture by creating uncertain current and future environment.
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Bibliographic InfoArticle provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.
Volume (Year): 47 (2008)
Issue (Month): 4 ()
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- Shahbaz, Muhammad & Shabbir, Shahbaz Muhammad & Butt, Muhammad Sabihuddin, 2011.
"Effect of financial development on agricultural growth in Pakistan: new extensions from bounds test to level relationships and granger causality tests,"
34162, University Library of Munich, Germany, revised 16 Oct 2011.
- Muhammad Shahbaz & Muhammad Shahbaz Shabbir & Muhammad Sabihuddin Butt, 2013. "Effect of financial development on agricultural growth in Pakistan: New extensions from bounds test to level relationships and Granger causality tests," International Journal of Social Economics, Emerald Group Publishing, vol. 40(11), pages 707-728, June.
- Amber Fatima & Abdul Waheed, 2011. "Effects of Macroeconomic Uncertainty on Investment and Economic Growth: Evidence from Pakistan," Transition Studies Review, Springer, vol. 18(1), pages 112-123, September.
- Mogues, Tewodaj & Yu, Bingxin & Fan, Shenggen & Mcbride, Linden, 2012. "The impacts of public investment in and for agriculture: Synthesis of the existing evidence," IFPRI discussion papers 1217, International Food Policy Research Institute (IFPRI).
- Hussain, Anwar Hussain, 2012. "Impact of Credit Disbursement, Area under Cultivation, Fertilizer Consumption and Water Availability on Rice Production in Pakistan (1988-2010)," MPRA Paper 41963, University Library of Munich, Germany.
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