Abstract
This research paper demonstrates the association between economic
growth and financial development in Pakistan for time period 1979 up
to 2008.The procedure of basic elements are used to develop FSDI
(financial sector development index) that is utilized to proxy sector
Development. With the help of method known as auto regression
distributed lag (ARDL), this research paper indicates co integrating
association between real deposit rate, real interest rates, financial
investment and development. According to the research findings,
economic growth is positively related to real deposit rate in long run
perspective but its impact is insignificant. Short run as well as long run
real interest rates responses are very low in comparison to variable of
financial development, giving implications that funds delivery is vital as
compared to its cost.
Azhar Mahmood. (2013) Impact of Financial Development on Economic Growth of Pakistan, Abasyn Journal of Social Sciences, Volume-06, Issue-2.
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