Abstract
This study attempts to explore the relation of External Debt, Terms of Trade, Education,Military expenditures, Consumer Price Index, and Gross Domestic Production of Pakistan throughout 1997-2019. To estimate the targeted objectives of this research Auto Regressive Distributive Lags (ARDL) technique was used. The results revealed some facts that Military expenditures an deducation were essential to achieve the goal of the high growth rate of the economy in the form of Gross Domestic Production.So policymakers should adopt strong strategies. Education should be as skilled and technical as possible and produce military equipment to save foreign exchange. CPI, TOT, andExd should be properly regulated because of their negative impact on GDP. CPI affects the people, so fiscal policy should be adopted. Without external debt, governments feel helpless,so breaking this trap is essential for dignity and development.The model has a dampening convergence towards equilibrium
Authors
1-Nighat Hanif MPhil Scholar, Government College University Faisalabad, Punjab, Pakistan2-Irfan Hussain Khan Ph.D. Scholar, Government College University Faisalabad, Punjab, Pakistan.3-Faisal Shahzad Ex-MPhil Scholar, Federal Urdu University of Arts, Sciences and Technology, Islamabad, Pakistan.
Keywords
Economic Growth, Macroeconomic Variables, ARDL
DOI Number
10.31703/ger.2021(VI-IV).03
Page Nos
28–41
Volume
VI
Issue
IV
