Financial Development, Inflation Uncertainty and Growth Volatility

Scholtens, Bert; Lensink, B.W.

doi:10.1016/b978-044452722-6/50005-9

Cited by 2 publications

(1 citation statement)

References 31 publications

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“…Then there are numerous studies based on endogenous growth models as well as the neo-classical models which examine the role of human capital on economic growth (Fayissa and Nsiah, 2010;Pritchett, 2001;Topel, 1999;Brunetti et al, 1998;Mankiw et al, 1992). Some yet other studies have focused on the relationship of political factors and economic growth (Lensink, 2001;Lensink et al, 1999;Scully, 1988). There is plethora of literature on the determinants of economic growth in Pakistan (Tahir et al, 2015;Ahmad and Wajid, 2013;Atique and Malik 2012;Shaheen et al 2011;Rahman and Salahuddin, 2010;Azam and Khattak, 2009;Sajid and Sarfraz 2008;Iqbal and Zahid 1998).…”

Section: Introductionmentioning

confidence: 99%

Determinants of Economic Growth in Pakistan: A Structural Vector Auto Regression (Svar) Analysis

Ajmair

Hussain

Abbassi

et al. 2017

EJBE

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Abstract:The study follows Structural Vector Auto Regression (SVAR) approach proposed by the so-called AB-model of Amisano and Giannini (1997) to find out relevant macroeconomic determinants of economic growth in Pakistan. Annual data is taken from World Development Indicators (CD-ROM, 2015) for the period 1976-2014. The widely-used Schwarz information criterion and Akaike information criterion is considered for the lag length in each estimated equation. Main findings of the study are that remittances received, gross national expenditures and inflation are found to be the best relevant positive and significant determinants of economic growth. Based on these empirical findings, we conclude that government should focus on overall economic growth augmenting factors while formulating any policy relevant to the concerned sector.Jel Classification: C82, E22, F24, F43

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Section: Introductionmentioning

confidence: 99%

Determinants of Economic Growth in Pakistan: A Structural Vector Auto Regression (Svar) Analysis

Ajmair

Hussain

Abbassi

et al. 2017

EJBE

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Resource rents, balance of power, and political stability

Bjorvatn

Farzanegan

2015

Journal of Peace Research

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We study the association between natural resource rents and internal political stability, highlighting the importance of the distribution of political power as a mediating factor. We present a simple theoretical model demonstrating that increased rents are likely to be positively associated with the internal stability of a powerful incumbent while destabilizing a less powerful incumbent. Our empirical analysis confirms this prediction. Employing panel data for more than 120 countries from the period 1984–2009, our estimation results demonstrate that resource rents can promote political stability but only when political power is sufficiently concentrated. Indeed, if the incumbent is sufficiently weak, rents fuel instability. Our main results hold when we control for the effects of income, quality of institutions (rule of law, democratic accountability and corruption), persistence of political stability, time-varying common shocks, country fixed effects, possible endogeneity of rents and power balance to political stability, and various additional covariates. Our analysis departs from the existing literature by emphasizing not (only) the type of government, but rather the strength of government, as a key determinant of the impact of resource rents on political stability. This analysis sheds light on current political transformations and reconfigurations in the resource rich Middle East and North Africa.

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Financial Development, Inflation Uncertainty and Growth Volatility

Cited by 2 publications

References 31 publications

Determinants of Economic Growth in Pakistan: A Structural Vector Auto Regression (Svar) Analysis

Determinants of Economic Growth in Pakistan: A Structural Vector Auto Regression (Svar) Analysis

Resource rents, balance of power, and political stability

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