No abstract

In this paper, total factor productivity has been computed and sources of growth identified for Pakistan's agriculture for the period from 1953-54 to 1978-79. Total factor productivity has been computed by doing growth accounting using the linear production function approach. The analysis shows that during the subperiod from 1964-65 to 1969-70, when the agricultural sector grew at a spectacular rate, more than 84 percent of the increase in output could be attributed to technological change and about 16 percent to increased use of inputs.

This study investigates the effect of military expenditure on the exploding external debt in five major South Asian economies, i.e. Pakistan, Bangladesh, India, Nepal and Sri Lanka from 1990 to 2015 using panel fixed effect regression model. The estimated result reveals that the external debt of selected South Asian countries is positively determined by their military expenditure, and negatively explained by their domestic investment activities. The study urges the efficient utilization of available capital resources into more productive investment activities to create employment for the labor force. The future prosperity of the region lies in the peaceful resolution of all outstanding disputes and a corresponding reduction in military spending that can make the region safe for domestic and international investments.

PurposeThe purpose of this paper is to develop a financial liberalization index (FLI) and evaluate its impact on agricultural growth.Design/methodology/approachThe study uses the autoregressive distributed lag approach to determine the long run and short coefficients.FindingsThe empirical results show that FLI affects agricultural growth positively in the short and the long run; but real interest rate positively affects agricultural growth in the short run and negatively in the long run.Originality/valueWhile previous research focuses on overall economic growth, this paper evaluates the impact of financial liberalization on the agricultural sector.

Financial Reforms and Industrial Sector Growth: Bound Testing Analysis for PakistanThis study investigates the relationship between the financial liberalization index and industrial sector growth for Pakistan. Annual time series data from 1971 to 2007 is used and ARDL bounds testing techniques are applied. In the short run both the financial liberalization index and the real interest rate speed up industrial sector growth. However, in the long run the financial liberalization index and real interest rate slow down industrial sector growth. The error correction terms indicate that 41% disequilibrium in the short run is adjusted every year in the long run.