The study assesses the relevance of infrastructural absorptive capacity in the foreign direct investment (FDI)-growth argument in ECOWAS. Though foreign aid has received a vast attention in the literature, however, an assessment of how the infrastructural readiness of the host economies drives...

This paper investigates the impact of financial development on economic growth in Pakistan using the Markov Switching Model over the period 1980-2017. The results based on two-state Markov switching model confirm the Schumpeter's view that finance spurs growth. The result reveals that financial...