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Do Remittances, Exports And Financial Development Matter For Economic Growth? A Case Study Of Pakistan Using Bounds Approach, Ronald R. Kumar
Do Remittances, Exports And Financial Development Matter For Economic Growth? A Case Study Of Pakistan Using Bounds Approach, Ronald R. Kumar
Dr Ronald R Kumar
The study explores, using bounds test, the short-run and long-run effects of remittances, exports and financial development on per worker income using the annual data for the period 1980-2009 in Pakistan. The results show exports are significant both in the short-run and long-run while remittances is positively significant only in the long-run but has a lagged negative effect similar to financial development in the short-run. Contrary to some recent findings, the results show financial development does not have any significant long-run effect on per worker income. Therefore, the need to develop exports and remittances markets for long-term sustainability of the …