Two main tasks have been pursued in this article. First, we estimate demand system for six composite goods by employing Almost Ideal Demand System for Pakistan. Second we analyze the welfare implications of tax reforms that replace the existing tax structure by uniform taxes on all goods. The...

Motivated by the recent studies on the endogenous growth theories, which suggest that the economic growth driven by human capital accumulated by education has potential to be substantial and more sustainable, this article evaluates the level and growth effects of education on the economic growth...

This study is an attempt to test the long run relationship between international tourism and economic growth of Pakistan by using Autoregressive Distributed Lag (ARDL) models over the period of 1972 to 2011. The initial results show that the causality runs from tourism to economic growth....

This study analyzes the relationship between output growth and investment in a panel of 20 regions of Finland over the period 1975–2007. This regional study uses Granger non-causality and error-correction models. The most important finding of this study is a unidirectional causality which runs...

This paper examines the impact of external debt on economic growth in Pakistan over the period 1970–2009. The empirical exploration of the impact of external debt on growth is analyzed allowing external debt to interact with macroeconomic policy index and considering the ratio of multilateral...

Cointegration and vector error correction modeling approaches are widely used in electricity demand analysis. The study rigorously examines the determinants of electricity demand at aggregate and sectoral levels in Pakistan. In the backdrop of severe electricity shortages, our empirical findings...

This study analyzes the relationship among electricity consumption, its price and real GDP at the aggregate and sectoral level in Pakistan. Using annual data for the period 1960-2008, the study finds the presence of unidirectional causality from real economic activity to electricity consumption....

The paper empirically examines the relationship between trade openness and the level of democracy in Pakistan using annual time-series data for the period 1947-2009. The analysis shows that trade openness positively affects democracy in Pakistan. The results are robust to controlling for other...