期刊
JOURNAL OF SUSTAINABLE FINANCE & INVESTMENT
卷 11, 期 2, 页码 103-122出版社
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/20430795.2020.1711501
关键词
Informal economy; economic growth; ARDL; Pakistan
资金
- University of Economics and Law, Vietnam National University Ho Chi Minh City, Vietnam
The study confirmed a significant presence of informal economy in Pakistan, with 56% of GDP existing in this sector. The research proposed new policy implications to tackle the informal economy and ensure its conversion into formal sector.
The objective of this study is to re-examine the impact of the informal economy on economic growth in Pakistan. This study first computed the informal economy through currency demand equation and then the adopted auto-regressor distributed lags (ARDL) technique for data analysis. The result indicates that 56% informal economy of gross domestic product (GDP) exists in Pakistan. The Wald F-test shows that the overall model is statistically significant because the value of this test (13.4) is more than the upper and lower bounds values. Whereas Engle-Granger causality test describes that the growth rate of real GDP causes the Granger to GDP at 5%. This study tries to solve these issues and give a new policy implication for policymakers to control the informal economy and make sure that this sector will convert into a recorded or reported form.
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