Percorrer por autor "Shahbaz, Muhammad"
A mostrar 1 - 3 de 3
Resultados por página
Opções de ordenação
- Foreign direct investment-economic growth nexus:the role of domestic financial development in PortugalPublication . Shahbaz, Muhammad; Leitão, Nuno Carlos; Malik, SummairaThe aim of present paper is to examine the role of financial development on FDI-Growth nexus using annual data over the period of 1975-2008. The results show that financial development is playing its role well but not satisfactory. This study will provide new guidelines for policy making authorities for Portuguese's economy. The manuscript applies the unrestricted error correction model (ECM) estimator advanced by Inder (1993) while ARDL bounds testing approach is employed to find cointegration among variables. Stationarity issue is investigated by Ng-Perron unit root test. The results show that financial development stimulates economic growth for the case of Portugal. Foreign direct investment also good promoter of economic growth while investment in public capital stock is contributing more as compared to financial development and foreign direct investment. Inflation declines economic growth.
- Migration and tourism demandPublication . Leitão, Nuno Carlos; Shahbaz, MuhammadThis study considers the relationship between immigration and Portuguese tourism demand for the period 1995-2008, using a dynamic panel data approach. The findings indicate that Portuguese tourism increased significantly during the period in accordance with the values expected for a developed country. The regression results show that income, shock of immigration, population, and geographical distance between Portugal and countries of origin are the main determinants of Portuguese tourism.
- Should Portuguese economy invest in defense spending? A revisitPublication . Shahbaz, Muhammad; Leitão, Nuno Carlos; Uddin, Gazi Salah; Arouri, Mohamed; Teulon, FrédéricIn this paper, we investigate the causal relationship between defense spending and economic growth in Portugal during the period of 1980–2010. We apply the ARDL bounds testing approach in the presence of structural break. The ARDL–ECM estimation results disclose that the relations between defense spending, capital, labor and economic growth are country specific. The interesting finding of this study is that there is a U-shaped relationship that exists between defense spending and economic growth. In addition, the unidirectional causality from defense spending to economic growth exists in the case of Portugal. Therefore, defense spending can play an important role in economic development of Portugal.