Despite receiving large quantities of foreign aid, Pakistan, like many other developing countries, has remained … sustainable economic growth. The empirical analysis is based on the ARDL cointegration approach, using the data for the period … growth in Pakistan, though conditionally so, i.e., if based on sound macroeconomic policies. …

markets of South Asia; namely, Pakistan, India, Sri Lanka and Bangladesh; using three bilateral foreign exchange rates. Weak … tested using co-integration and Granger causality tests. Variance Decomposition Analysis is also employed to study the trends … against the semi-strong version of the Efficient Market hypothesis. The results of cointegration after introducing the …