{"product_id":"determinants-of-capital-formation-von-muhammad-shahid-und-parvez-azim","title":"Determinants of Capital Formation","description":"\u003cp\u003eThe study investigates the determinants of gross   capital formation in Pakistan. The ARDL bound  testing approach, developed by Pesaran et al.  (2001), is applied to examine the cointegration or  the long run relationship among the selected  variables. The Error Correction Mechanism (ECM) is  used to scrutinize the short run impact on  independent variables upon the gross capital  formation. Studying determinants of capital  formation is important in economic literature  because it has vast implications in handling the  issue of low capital formation in developing  countries. Capital formation facilitates  infrastructure development, and utilizes internal  resources for production and manufacturing,  encourage savings by increasing the number of  financial institutions that ultimately lead to  higher economic growth. The findings of this study  are important for formulation of development  strategies.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843387927\"\u003e\u003ch3\u003eNew Evidence for Pakistan\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843387927","offer_id":39469957808221,"sku":"9783843387927","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/6bd06abb-7f58-47f6-8f04-4e67eb7bb1a3.jpg?v=1737613126","url":"https:\/\/shop.autorenwelt.de\/products\/determinants-of-capital-formation-von-muhammad-shahid-und-parvez-azim","provider":"Autorenwelt Shop","version":"1.0","type":"link"}