This paper examines the empirical relationship between financial development and economic growth for high income countries. The study focuses on both indirect finance and direct finance, separately as well as jointly. Applying the methodology of Nair-Reichert and Weinhold (2001) for causality...

This paper examines the empirical relationship between financial development and economic growth for high income countries. The study focuses on both indirect finance and direct finance, separately as well as jointly. Applying the methodology of Nair-Reichert and Weinhold (2001) for causality...

Though Pakistan’s exports have increased significantly, analyses have shown that Pakistan’s industrial competitiveness is limited to a narrow range of products. This paper looks at the factors affecting Pakistan’s competitiveness ranking and relates these various factors to trends in...

Though Pakistan’s exports have increased significantly, analyses have shown that Pakistan’s industrial competitiveness is limited to a narrow range of products. This paper looks at the factors affecting Pakistan’s competitiveness ranking and relates these various factors to trends in...

The author here looks at problems in the manufacturing sector. One macro enigma is that while growth had recently risen to 8%, investment levels as a ratio of GDP seem to have fallen. One reason for this is the re-evaluation upwards of the GDP. But the same issue emerges in manufacturing with...

The author here looks at problems in the manufacturing sector. One macro enigma is that while growth had recently risen to 8%, investment levels as a ratio of GDP seem to have fallen. One reason for this is the re-evaluation upwards of the GDP. But the same issue emerges in manufacturing with...

The main focus of this paper is to measure the speed of adjustment of the exchange rate by means of the persistent profile approach developed by Pesaran and Shin (1996) to examine the symmetry and proportionality assumptions of the purchasing power parity (PPP) theory of exchange rates for the...

This paper proposes that the underlying cause of the macroeconomic problems facing Pakistan today are a series of supply shocks which have constrained output growth. It is argued that while the current debate has solely focused on government expenditures and revenues, it is critical to also...