scholarly journals Are natural resources a blessing or a curse for financial development in Pakistan? The importance of oil prices, economic growth and economic globalization

2020 ◽  
Vol 67 ◽  
pp. 101683 ◽  
Author(s):  
Ahmed Atil ◽  
Kishwar Nawaz ◽  
Amine Lahiani ◽  
David Roubaud
Keyword(s):  
Economic Growth ◽  
Natural Resources ◽  
Financial Development ◽  
Oil Prices ◽  
Economic Globalization

scholarly journals The Nexus between Agricultural Productivity, Oil Prices, Economic Growth, and Financial Development in the USA

2021 ◽  
Vol 7 (1) ◽  
pp. 117-136
Author(s):  
Turgut Tursoy ◽  
Andrea Simbarashe Rabson
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Financial Development ◽  
Financial Stability ◽  
Structural Break ◽  
Agricultural Productivity ◽  
Oil Prices ◽  
Policy Implications ◽  
Series Data ◽  
Positive Effects

Purpose. The study aims to examine the nexus between agricultural productivity by connecting oil prices, economic growth, and financial development. Design/Methodology/Approach. A newly formulated ARDL model was used to estimate an agricultural productivity nexus model using annual time-series data from 1962 to 2016. Innovation and additive structural break unit root tests were applied to determine the existence of unit roots, and the results reaffirmed that all the variables were stationary at first difference. The Chow Breakpoint test was applied to confirm a structural break in the year 2008 caused by the effects of the 2008 financial crisis. Findings and Implications. The results depicted a long-run relationship linking agricultural productivity, oil prices, economic growth, financial development and a financial crisis. The results also showed that financial development and economic growth have positive effects on agricultural productivity. The empirical findings further suggested that an increase in oil prices and the prevalence of a financial crisis have severe adverse effects on agricultural productivity. Originality. The study provides a novel viewpoint of agricultural productivity by connecting oil prices, economic growth, and financial stability and development. The study successfully demonstrated that the financial sector and oil price stability are pivotal for enhancing agricultural productivity initiatives. This study highlights the policy implications of the estimated results for policymakers seeking to boost agricultural productivity by addressing economic misfortunes induced by oil shocks and a financial crisis.

scholarly journals How does Financial Development and Petroleum Price cause Trade Openness in Pakistan?

2021 ◽  
Vol 3 (1) ◽  
pp. 42-60
Author(s):  
Damian Honey
Keyword(s):  
Economic Growth ◽  
Private Sector ◽  
Financial Development ◽  
Trade Openness ◽  
Oil Prices ◽  
Terms Of Trade ◽  
The Past ◽  
Petroleum Price ◽  
Yearly Data

In the past financial development and petroleum prices have been identified as acrucial factor influencing economic growth. This provoked us to explore the way financial development and petroleum prices influence the trade openness in Pakistan. The sample of yearly data is collected from 1980 to 2016 in order to apply ARDL cointegration method. Our results reflect the presence of long term cointegration between trade openness and its factors. This suggest that with the rise in credit in private sector there is eventual impact on imports and exports whereas the international petroleum prices also impact the same by pushing the prices of goods. Hence it is recommended that hedging the oil prices and the expansion of credit in Pakistan is worthwhile in terms of trade openness.

The Instruments of the Stabilization Fund: The Experience and Prospects

2004 ◽  
pp. 65-75 ◽  
Author(s):  
Mst. Afanasiev
Keyword(s):  
Economic Growth ◽  
Oil Prices ◽  
Federal Budget ◽  
Future Generations ◽  
The World

Сreation of the stabilization fund has become the main feature of the Russian federal budget for 2004. This instrument provides the opportunity to reduce the dependence of budget incomes on the fluctuations of oil prices. The accepted model does not consider the world experience in building of such funds as the "funds for future generations", and the increase of other revenues from the growing oil prices as well. That can lead to shortening and immobilization of the financial basis of economic growth.

Norman Uphoff, Milton J. Esman and Anirudh Krishna. Reasons for Success: Learning from Instructive Experiences in Rural Development. New Delhi: Sage Publications, 1998. Paperback. Indian Rs 250.00. 233 pages.

1998 ◽  
Vol 37 (3) ◽  
pp. 305-307
Author(s):  
Afia Malik
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Rural Development ◽  
Natural Resources ◽  
New Delhi ◽  
Rural Poor ◽  
Neoclassical Model ◽  
Rural People ◽  
Small Holders

Given the demographic realities in the developing world, it is not possible to solve the problems of poverty in these countries following the neoclassical model of economic growth. Since the majority of people are ruralites in these countries, the focus should be on rural development directly rather than on waiting for the benefits to trickle down to the rural poor. What is needed is to improve the quality of life and productivity of the small-holders or landless whose livelihood is based on natural resources which are depleting and require urgent attention. More options should be available for the rural people in their own area.

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