ISSN 2394-5125
 

Research Article 


The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan

Tariq Mahmood, Maqbool Hussain Sial.

Abstract
The function of monetary and fiscal policies in economic growth is discussed in the present study with the help of yearly data from 1973 to 2014 with reference to Pakistan. The inspiration for the study is that there exists financial insecurity and the modifications to improve the circumstances appear necessary in Pakistan. To test the time series characteristics, the DF and ADF methods are used. The ARDL Model is applied to discover the long-term association among fiscal or monetary policy and economic growth. The study concludes that Currency in Circulation (CIR1), Government Development Expenditures (GDE1), Foreign Exchange Reserves (LFER) and Budget Deficit (BD) are imperative components of GDP in case of Pakistan. The result recommends that GDP is inclined by means of the variables Currency in Circulation, Government Development Expenditures and Foreign Exchange Reserves. The relationship between GDP and the Currency in Circulation found to be negative while, Government Development Expenditures and Foreign Exchange Reserves have positive effect on GDP in Pakistan. It means that the two policies are evenly imperative for development in Pakistan

Key words: Fiscal Policy, Economic Growth, Monetary Policy, Development Expenditures


 
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Pubmed Style

Tariq Mahmood, Maqbool Hussain Sial. The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. JCR. 2021; 8(2): 886-898. doi:10.31838/jcr.08.02.93


Web Style

Tariq Mahmood, Maqbool Hussain Sial. The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. http://www.jcreview.com/?mno=78082 [Access: May 30, 2021]. doi:10.31838/jcr.08.02.93


AMA (American Medical Association) Style

Tariq Mahmood, Maqbool Hussain Sial. The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. JCR. 2021; 8(2): 886-898. doi:10.31838/jcr.08.02.93



Vancouver/ICMJE Style

Tariq Mahmood, Maqbool Hussain Sial. The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. JCR. (2021), [cited May 30, 2021]; 8(2): 886-898. doi:10.31838/jcr.08.02.93



Harvard Style

Tariq Mahmood, Maqbool Hussain Sial (2021) The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. JCR, 8 (2), 886-898. doi:10.31838/jcr.08.02.93



Turabian Style

Tariq Mahmood, Maqbool Hussain Sial. 2021. The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. Journal of Critical Reviews, 8 (2), 886-898. doi:10.31838/jcr.08.02.93



Chicago Style

Tariq Mahmood, Maqbool Hussain Sial. "The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan." Journal of Critical Reviews 8 (2021), 886-898. doi:10.31838/jcr.08.02.93



MLA (The Modern Language Association) Style

Tariq Mahmood, Maqbool Hussain Sial. "The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan." Journal of Critical Reviews 8.2 (2021), 886-898. Print. doi:10.31838/jcr.08.02.93



APA (American Psychological Association) Style

Tariq Mahmood, Maqbool Hussain Sial (2021) The Relative Effectiveness of Monetary and Fiscal Policies on Economic Growth in Pakistan. Journal of Critical Reviews, 8 (2), 886-898. doi:10.31838/jcr.08.02.93