@article{anwar2017what,
  title = {What Explains Our Slow Economic Growth? Causality Analysis between Economic Growth and Defense Spending in Pakistan},
  author = {Sabeen Anwar},
  year = 2017,
  url = {https://ibimapublishing.com/articles/JESR/2017/280356/},
  journal = {Journal of Economics Studies and Research},
  volume = 2017,
  pages = 21,
  doi = 10.5171/2017.280356,
  abstract = {Pakistan is faced with budget deficits, high unemployment and slow growth. This study provides a link between defense spending, debt servicing, development expenditures and economic growth for Pakistan. We examine whether there is a causality between defense expenditures and debt servicing on the one hand and economic growth on the other during the period 1988-2011, using Toda Yamamoto-Modified Standard Granger Causality technique. The unidirectional causality found between economic growth-defense spending and debt servicing - economic growth while bidirectional causality is found between development expenditure-economic growth and between current expenditure-economic growth. Research suggested to be self-sufficient in domestic defense industry which leads to curtail in import budget and it will create employment resources and funds will available for developing programs.
JEL code: H5, O4.},
  keywords = {Causality, Economic Growth, Defense Spending, Toda-Yamamoto.},
  note = Article ID: 280356
}