Factor Output and Economic Growth in Pakistan: Does Fiscal Policy Matters?

Abdul Basit, Gulnaz Hameed, Abdul Saboor, Muhammad Razzaq Athar

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Published: Feb 1, 2022

Keywords:

Fiscal Policy, Economic Growth, Autoregressive Distributed Lag (ARDL), Pakistan

Abdul Basit, Gulnaz Hameed, Abdul Saboor, Muhammad Razzaq Athar

Abstract

This study explores a new stream of research shedding light on the effectiveness of fiscal policy on economic growth in Pakistan by exploring the role of factor output. For empirical investigation the Autoregressive Distributed Lag (ARDL) model is applied and tocheck the stationaritybehaviorof all the variablesAugmented Dickey-Fuller (ADF) unit root testis applied.Annual time series datafrom 1971 to 2018 is used to investigate the effect of government expenditures, gross fixed capital formation, indirect and direct taxes ongross domestic product (GDP). The empirical results of thestudy revealed that government expenditures, gross fixed capital formation, indirect and direct taxes have significantpositive impact oneconomic growth in Pakistan.It is suggested that the expansionary fiscal policy is very effective to surge economic growth in Pakistan.

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Vol. 59 No. 1 (2022): Volume 59 No. 1 (2022)

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