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This study investigates co-movement among macroeconomic variables and capital flight in Pakistan. The empirical estimation is based on time series data for a period of 30 years from 1983 to… Click to show full abstract
This study investigates co-movement among macroeconomic variables and capital flight in Pakistan. The empirical estimation is based on time series data for a period of 30 years from 1983 to 2013. We collect data from World Development Indicator (WDI). We apply Auto Regressive Distributive Lag (ARDL) through Bounds Testing (BT) to estimate the long run relationship. In order to estimate short run dynamic, this study employs Error Correction Model (ECM). This study finds that the presence of a long-term association between capital flight and its determinants.
Journal Title: Asian Economic and Financial Review
Year Published: 2018
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