Impact of Oil Price and Shocks on Economic Growth of Pakistan: Multivariate Analysis
作者： Sidra Nazir , Abdul Qayyum
DOI:
关键词: Context (language use) 、 Shock (economics) 、 Granger causality 、 Macroeconomics 、 Order of integration (calculus) 、 Error correction model 、 Short run 、 Real gross domestic product 、 Cointegration 、 Econometrics 、 Economics
摘要: Oil is becoming the most prominent indicator of economic growth in Pakistan with increase its demand. Also oil prices are doing their main contribution to impact GDP including different shock dummies data. In this study, Cobb-Douglas production function has used construct model by introducing total consumption and Pakistan’s price variable investigate on GDP. ADF (1979), Johansen Maximum Likelihood method cointegration (1988) Granger causality test applying restriction dynamic order integration, Long run short dynamics causal relationship between using annual data since 1972-2011 context Pakistan. Through examining results long detected for all variables except no impacting real negatively but positively (Rasmussen Roitman, 2011). There evidence (including sectors) growth.
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