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Title: Infrastructure and Economic Growth: Panel Analysis of Selected Asian Countries
Authors: Mahmood ul Hasan, Muhammad Imran Hassan, Saif Ullah, Muhammad Nauman Malik
Journal: Journal of Human Dynamics(JHD)
| Category | From | To |
|---|---|---|
| Y | 2024-10-01 | 2025-12-31 |
Publisher: AgroTech Innovations (SMC-Private) Limited
Country: Pakistan
Year: 2024
Volume: 2
Issue: 2
Language: English
Keywords: Economic GrowthInfrastructurePanel data
Effective and reliable infrastructure is considered helpful for economic growth. Particularly, transport infrastructure is an important factor in the development of countries. The infrastructure can be classified into different dimensions i.e. economic and social infrastructure. The current study uses panel analysis techniques to examine the association between infrastructure and economic growth. The panel data is used having a period from 2000-2020 for selected Asian countries. Panel unit root tests are applied to check the stationarity of the data, and findings depict that all variables are stationary at the first difference. After analyzing the unit root properties, the Pedroni cointegration technique is employed to assess the long-run association. The results indicate that all variables have an association in the long run. Furthermore, the Random effect model is employed for empirical investigations. The results concluded that transport infrastructure, energy use, and communication infrastructures positively affect the economic growth in the selected Asian countries. It is recommended that the government stress public expenditure to ensure effective infrastructure, promoting economic growth. It is also suggested that more budget may be consumed to make the roads, dams, telecommunication services, and bridges.
To examine the association between infrastructure (transport, energy, and communication) and economic growth in selected Asian countries (Pakistan, Iran, Turkey, Malaysia, Bangladesh, and Indonesia) using panel data analysis.
Panel data analysis from 2000-2020. Panel unit root tests (LLC and IPS) to check stationarity. Pedroni cointegration technique to assess long-run association. Random effects model for empirical investigation. Data sources include World Development Indicators, Trading Economics, and Pakistan Economic Survey.
graph TD
A[Data Collection: WDI, Trading Economics, Pakistan Economic Survey] --> B[Panel Unit Root Tests: LLC, IPS];
B --> C[Stationarity?];
C -- Yes --> D[Pedroni Cointegration Test];
C -- No --> E[First Difference];
E --> B;
D --> F[Cointegration?];
F -- Yes --> G[Random Effects Model];
F -- No --> H[No Long-Run Relationship];
G --> I[Results and Discussion];
I --> J[Conclusion and Policy Recommendations];
Effective infrastructure is helpful for GDP growth. Transport infrastructure is essential for the development of nations. Investment in infrastructure leads to increased production services and economic activities.
Transport infrastructure, energy use, and communication infrastructure positively affect economic growth in the selected Asian countries. All variables have a long-run association.
The government should stress public expenditure to ensure effective infrastructure, promoting economic growth. More budget may be consumed to make the roads, dams, telecommunication services, and bridges.
1. Data period: 2000-2020. Confirmed in the Methodology section.
2. Countries analyzed: Pakistan, Iran, Turkey, Malaysia, Bangladesh, and Indonesia. Confirmed in the Introduction section.
3. Data sources: World Development Indicators, Trading Economics, and Pakistan Economic Survey. Confirmed in the Methodology section.
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