The Growth and Employment Impacts of the 2008 Global Financial Crisis on Pakistan

This study examines the impact of the 2008 global financial crisis on economic growth and employment in Pakistan. We conduct a time series analysis of quarterly data for 1997-2011, applying the autoregressive distributed lag bounds-testing approach and an unrestricted error correction model. Our ana...

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Bibliographic Details
Published in:The Lahore journal of economics 2014-01, Vol.19 (2), p.129-154
Main Authors: Haq, Mirajul, Khan, Karim, Parveen, Ayesha
Format: Article
Language:English
Subjects:
Developing countries
Economic conditions
Economic crisis
Economic development
Economic growth
Employment
Errors
Exports
Finance
Financial services
Foreign exchange rates
GDP
Global economy
Gross Domestic Product
Impact analysis
International finance
Investments
Jewelry
Jewelry industry
LDCs
Low income groups
Macroeconomics
Pakistan
Regression analysis
Remittances
Securities markets
Studies
Time series
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Summary:This study examines the impact of the 2008 global financial crisis on economic growth and employment in Pakistan. We conduct a time series analysis of quarterly data for 1997-2011, applying the autoregressive distributed lag bounds-testing approach and an unrestricted error correction model. Our analysis suggests that the impact of the crisis was transmitted primarily through two channels-the financial sector and trade-with a corresponding negative effect on economic growth and employment. Of the two channels, the magnitude of the trade effect is larger than that of the financial sector.
ISSN:1811-5438
1811-5446