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FACTORS AFFECTING PORTFOLIO INVESTMENT IN PAKISTAN: EVIDENCE FROM TIME SERIES ANALYSIS
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نویسنده
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CHAUDHRY IMRAN SHARIF ,FAROOQ FATIMA ,MUSHTAQ ARZOO
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منبع
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pakistan economic and social review - 2014 - دوره : 52 - شماره : 2 - صفحه:141 -158
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چکیده
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This study is an endeavour to establish the factors that affect the portfolio investment in pakistan. portfolio investment is one of the main components of private investment. portfolio investment is helpful to fill the gap between savings and investment in pakistan. time-series annual data have been taken for the period 1981-2012. this study employs autoregressive model of partial adjustment with least-square method. net portfolio investment (npi) has been taken as dependent variable whereas market capitalization, weighted average rate of return on deposit, trade openness, broad money (m2), one period lagged dependent variable and foreign direct investment (fdi) have been taken as independent variables. the study concludes that fdi has negative impact on npi while all other variables are positively related to npi. the government of pakistan should defend its financial sector from terrorism and its effects.
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کلیدواژه
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Net portfolio investment ,Foreign direct investment ,Market capitalization ,Trade openness ,M2 ,Weighted average rate of return on deposit ,Pakistan
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آدرس
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Bahauddin Zakariya University, Department of Economics, Pakistan. The Women University, Pakistan, The Women University, Pakistan. Bahauddin Zakariya University, Department of Economics, Pakistan, Bahauddin Zakariya University, Department of Economics, Pakistan. The Women University, Pakistan
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Authors
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