Exploring the Factors Affecting Economic Growth in Pakistan
Economic growth varies across different countries. Various potential factors have been identified over the years, but finding relevant determinants of growth has been a real issue for empirical investigation. This paper has attempted to examine different macro-economic variables that play a significant role in accelerating economic growth from 1970 to 2019. The econometric results show that human capital, financial development, and industrial production are the encouraging factors of economic growth, while the variable trade openness shows a negative effect on economic growth in Pakistan. Government should design policies to invest inhuman capital and fixed assets; this will create job opportunities for the people and leads to high economic growth.
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Exports, Economic Growth, Human Capital, Investment
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(1) Salyha Zulfiqar Ali Shah
Assistant Professor, School of Economics, Bahauddin Zakariya University Multan, Punjab, Pakistan.
(2) Muhammad Muzammil Asghar
Crop Reporter, Crop Reporting Service, District Multan, Punjab, Pakistan.
(3) Umber Riaz
Ph.D. Scholar, Institute of Social and Cultural Studies, Bahauddin Zakariya University Multan, Punjab, Pakistan.