Concessional Debt and Growth in Services Sector of Pakistan
The current study aims to explore the relationship between concessional debt and the services sector growth of Pakistan. The annual time series data for the period 1972 to 2019 has been employed. To find out the stationarity and order of integration, the ADF testis utilized. For the long-run relationship, Johansen's co-integration methodology is employed. The empirical results of the study manifest that growth in the services sector is sensitive to concessional debt in the long run. All other explanatory variables also demonstrated a positive and significant effect on services sector growth. VECM method is applied for short-run analysis. The lag of concessional debt is also positive in the short run. A negative and statistically significant lag of error correction term (ECT-1) reasserts the long-run relationship between services sector growth and concessional debt along with other explanatory variables.
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Concessional Debt, Services Sector, Time Series, Pakistan
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(1) Muhammad Abdullah
Assistant Professor, Department of Economics, University of Sahiwal, Sahiwal, Punjab, Pakistan.
(2) Ayza Shoukat
Lecturer, Department of Economics, University of Sahiwal, Sahiwal, Punjab, Pakistan
(3) Atif Ali Gill
Lecturer, Department of Business Administration, University of Sahiwal, Sahiwal, Punjab, Pakistan
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Cite this article
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APA : Abdullah, M., Shoukat, A., & Gill, A. A. (2021). Concessional Debt and Growth in Services Sector of Pakistan. Global Social Sciences Review, VI(II), 215-223. https://doi.org/10.31703/gssr.2021(VI-II).22
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CHICAGO : Abdullah, Muhammad, Ayza Shoukat, and Atif Ali Gill. 2021. "Concessional Debt and Growth in Services Sector of Pakistan." Global Social Sciences Review, VI (II): 215-223 doi: 10.31703/gssr.2021(VI-II).22
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HARVARD : ABDULLAH, M., SHOUKAT, A. & GILL, A. A. 2021. Concessional Debt and Growth in Services Sector of Pakistan. Global Social Sciences Review, VI, 215-223.
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MHRA : Abdullah, Muhammad, Ayza Shoukat, and Atif Ali Gill. 2021. "Concessional Debt and Growth in Services Sector of Pakistan." Global Social Sciences Review, VI: 215-223
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MLA : Abdullah, Muhammad, Ayza Shoukat, and Atif Ali Gill. "Concessional Debt and Growth in Services Sector of Pakistan." Global Social Sciences Review, VI.II (2021): 215-223 Print.
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OXFORD : Abdullah, Muhammad, Shoukat, Ayza, and Gill, Atif Ali (2021), "Concessional Debt and Growth in Services Sector of Pakistan", Global Social Sciences Review, VI (II), 215-223
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TURABIAN : Abdullah, Muhammad, Ayza Shoukat, and Atif Ali Gill. "Concessional Debt and Growth in Services Sector of Pakistan." Global Social Sciences Review VI, no. II (2021): 215-223. https://doi.org/10.31703/gssr.2021(VI-II).22