Does External Debt Causes Economic Growth: A Case Study of Pakistan
This study attempts to examine the long run and short run dynamics of external debt and economic growth in Pakistan. For this purpose, we employed the Johansen cointegration test and Granger causality test. The empirical analysis cover the study span from 1980 to 2010, shows the evidence of long run relationship between external debt and economic growth. In the short run, there is bidirectional causality exist between external debt and economic growth
Volume (Year): 15 (2012)
Issue (Month): 43 (March)
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- Freytag, Andreas & Pehnelt, Gernot, 2009. "Debt Relief and Governance Quality in Developing Countries," World Development, Elsevier, vol. 37(1), pages 62-80, January.
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Working Paper Series
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- Deshpande, Ashwini, 1997. "The debt overhang and the disincentive to invest," Journal of Development Economics, Elsevier, vol. 52(1), pages 169-187, February.
- Jayaraman, T.K. & Lau, Evan, 2009. "Does external debt lead to economic growth in Pacific island countries," Journal of Policy Modeling, Elsevier, vol. 31(2), pages 272-288.
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