Effects of Financial Development and Industrial Maturity on Economic Growth
DOI:
https://doi.org/10.31580/jmi.v5i1.33Keywords:
GDP Growth, Financial Development, Industrial Development, ARDL Technique.Abstract
The study is an effort to explore the relationship between financial improvement and the economic growth of the country. In this investigation process, study captures the time series data from 1970-2013 in case of Pakistan. Autoregressive Distributed Lag model (ARDL) method is employed for the statistical findings of the mentioned variables. To establish more extensive connectivity between variables study includes part of industrial performance and government spending under consideration. Results of the exploration provide the evidence that enhancement of financial sector with maturity endorses the economic growth that is measured by Gross domestic product of per capita. Long run and short run results validate the importance of the measured variable for the economic growth. Accordingly, in policy making process strategies for the financial development, enhanced industrial performance and constructive government spending could be encouraging for country’s progress.
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