Natural resources as blessings and finance-growth nexus: A bootstrap ARDL approach in an emerging economy

This paper examines the link between financial development and economic growth in Pakistan by considering important role of natural resources in production function for the period of 1972–2017. Capital and labour are additional contributing factors of economic growth. To determine the integrating properties of the variables, we apply SOR unit root test containing information for sharp and smooth structural breaks in the series. We also employ the bootstrapping ARDL bounds testing approach to examine the cointegration between the factors of production. The causal relationship between financial development, natural resources, capital, labour and economic growth is tested by applying the VECM Granger causality test in the presence of structural breaks.

• Publication year

  2019

• Venue

  Resources policy

• Publication date

  2019-03-01

• Fields of study

  Economics, Environmental Science

• Identifiers
  DOI 10.1016/J.RESOURPOL.2019.01.007
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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