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Foreign Direct Investment, Exports, and Domestic Output in Pakistan

  • Mohsin Hasnain Ahmad

    (Applied Economics Research Center, University of Karachi, Karachi.)

  • Shaista Alam

    (Applied Economics Research Center, University of Karachi, Karachi.)

  • Mohammad Sabihuddin Butt

    (Applied Economics Research Center, University of Karachi, Karachi.)

The impact of the policy reform on economic performance has been one of the stifling issues in development economics in the recent years. Since the middle 1970s, there has been considerable progress in the trade reform in the most developing countries, turning from an import substitution strategy to export-oriented approach. Pakistan also follows export-oriented policies. Pakistan’s trade pattern and trade policy have been moving towards fewer and fewer controls, tariffs rates have come tumbling down. Export-led-growth hypothesis (ELG) suggests that due to positive correlation between export and growth, therefore, export-oriented policies contribute to economic growth. Thus, international trade and development theory suggests that export growth contributes positively to economic growth. On the basis of this framework, most empirical work on the effects of export promoting strategy followed in developing countries evaluated openness with trade. Empirical research about the effect of this liberalisation process has treated export as principal channel for growth. The relationship with exports and growth, grounded in endogenous growth theory, has been tested for Pakistan.

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Article provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.

Volume (Year): 42 (2003)
Issue (Month): 4 ()
Pages: 715-723

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Handle: RePEc:pid:journl:v:42:y:2003:i:4:p:715-723
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  1. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
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  6. Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
  7. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
  8. Ashfaque H. Khan & Afia Malik & Lubna Hasan, 1995. "Exports, Growth and Causality: An Application of Co-integration and Error-correction Modelling," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 34(4), pages 1001-1012.
  9. Judith A. Giles & Sadaf Mirza, 1999. "Some Pretesting Issues on Testing for Granger Noncausality," Econometrics Working Papers 9914, Department of Economics, University of Victoria.
  10. Mohammad Akbar & Sabahat Zareen F. Naqvi, 2000. "Export Diversification and the Structural Dynamics in the Growth Process: The Case of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 39(4), pages 573-589.
  11. Qazi Masood Ahmed & Mohammad Sabihuddin Butt & Shaista Alam, 2000. "Economic Growth, Export, and External Debt Causality: The Case of Asian Countries," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 39(4), pages 591-608.
  12. Sebastian Edwards, 1991. "Trade Orientation, Distortions and Growth in Developing Countries," NBER Working Papers 3716, National Bureau of Economic Research, Inc.
  13. Judith A. Giles & Cara L. Williams, 2000. "Export-Led Growth: A Survey of the Empirical Literature and Some Noncausality Results, Part 2," Econometrics Working Papers 0002, Department of Economics, University of Victoria.
  14. Blomstrom, Magnus, 1986. "Foreign Investment and Productive Efficiency: The Case of Mexico," Journal of Industrial Economics, Wiley Blackwell, vol. 35(1), pages 97-110, September.
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