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Co-Movement between Macroeconomic Variables and Capital Flight

Author

Listed:
  • Ahmed Imran Hunjra
  • Hasnain Mehmood
  • Haroon Bakari

Abstract

This study investigates co-movement among macroeconomic variables and capital flight in Pakistan. The empirical estimation is based on time series data for a period of 30 years from 1983 to 2013. We collect data from World Development Indicator (WDI). We apply Auto Regressive Distributive Lag (ARDL) through Bounds Testing (BT) to estimate the long run relationship. In order to estimate short run dynamic, this study employs Error Correction Model (ECM). This study finds that the presence of a long-term association between capital flight and its determinants.

Suggested Citation

  • Ahmed Imran Hunjra & Hasnain Mehmood & Haroon Bakari, 2018. "Co-Movement between Macroeconomic Variables and Capital Flight," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(9), pages 1185-1195.
    • Handle: RePEc:asi:aeafrj:v:8:y:2018:i:9:p:1185-1195:id:1737
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