• ISSN: 2010-023X
    • Frequency: Bimonthly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Executive Editor: Ms. Cherry L. Chen
    • Abstracting/ Indexing: Engineering & Technology Digital Library, ProQuest, Crossref, Electronic Journals Library , EBSCO, and Ulrich's Periodicals Directory
    • E-mail: ijtef@ejournal.net
IJTEF 2011 Vol.2(4): 341-345 ISSN: 2010-023X
DOI: 10.7763/IJTEF.2011.V2.128

An Empirical Analysis of Financial Reforms in Pakistan: Does it Affect Economic Growth?

Waliur Rehman, Goher Fatima, and Waqar Ahmad
Abstract—Banks indulge in catering the needs of government, public sector organization and private businesses. Government of Pakistan introduced several financial reforms for the improvement of banking sector. State Bank of Pakistan (SBP) has taken many influential steps in order to increase performance of the banking sector in Pakistan. This study aimed to enlist the major financial reforms undertaken by the Government of Pakistan and explore their impact on economic growth of Pakistan; furthermore it has explored correlation among economic growth, deposits, lending, real interest rate, savings, and inflation, taking data of thirty six years (1973- 2008). Regression analysis using E-Views was applied and explored a positive impact of financial reforms on economic growth. It is recommended to remove the interest rate ceiling and overcome the problem of inflation.

Index Terms—Financial Sector Reforms, Economic Growth, Inflation, Real interest Rate.

Waliur Rehman is with the Institute of Engineering and Management Sciences (FUIEMS)(wrehman88@gmail.com).
Goher Fatima is with the Department of Economics, Foundation University College of Liberal Arts and Sciences, (FUCLAS)(goher.economist@gmail.com).
Waqar Ahmad,Prospect Research Scholar-Graduated from BU, Islamabad (2010)

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Cite:Waliur Rehman, Goher Fatima, and Waqar Ahmad, "An Empirical Analysis of Financial Reforms in Pakistan: Does it Affect Economic Growth?," International Journal of Trade, Economics and Finance vol.2, no.4, pp. 341-345, 2011.

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