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 explores the impact of two shocks, trade liberalisation policies and decline in remittances, on welfare and poverty in Pakistan. It begins by reviewing the economy, which reveals that during the Nineties although import tariffs were reduced by 55 percent, poverty however remained...

The international trade theories assume complete information on demand, supply, prices, product specification and technologies but such assumptions generally do not hold. In particular information is inadequate for both the importers and exporters to make optimal choices. Obviously countries...

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...

The importance of consistent and reliable data cannot be over emphasised. The main sources of data relating to Pakistan's large-scale manufacturing industries have been the periodical censuses of manufacturing industries (CMls) which collect data on capital stock, value of output, value added,...

It is a well-known fact that capital is scarce in most of the developing countries and thus some of the production factors, such as labour, remain -unemployed, leading toa lower growth rate of G.N.P. than would be possible under. full employment. Additions to the stock of capital not only...

The domestic resources of the developing countries are usually too limited even to permit a steady maintenance of their per capita income. In their attempt to improve the level of their per capita income, such countries resort to the strategy of increasing their growth rate by relying on foreign...