Disaggregated Analysis of Economic Growth of Pakistan
DOI:
https://doi.org/10.47067/ramss.v5i2.225Keywords:
Economic Growth, Agriculture Sector, Industrial Sector, Services Sector, PakistanAbstract
Achieving higher levels of economic growth is the key aim of every economy. This study is designed to explore the disaggregated analysis of the economic growth of Pakistan from 1970 to 2020. Different econometric techniques are applied to estimate the results such as the ADF test, Wald test, and ARDL model. ADF test points out the mixed order of integration of variables. ARDL estimates found that labor force participation rate, services sector growth rate, agriculture sector growth rate, and industrial sector growth rate are positively and significantly related to the economic growth in Pakistan. The outcomes of the study demonstrate that agriculture, services, and industrial sectors are important boosting factors of economic growth. By keeping in view the findings it is suggested that special attention needs to be taken to boost the production of industrial, services, and agriculture sectors in Pakistan.
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