February 2019 Vol.7 No.2

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Maqsood Z
Shahzadi M

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Review

Impact of Foreign Direct Investment, Imports and Exports of Goods and Services on GDP of Pakistan: An Empirical Evidence with Particular reference to CPEC

Zeshan Maqsood¹, Sana Jawad², Shahid Farid³, Muhammad Ramzan Mehar⁴, and Mahrukh Shahzadi⁵

¹Department of Statistics, University of Sialkot, Sialkot, Pakistan
^2,4School of Business and Economics, University of Management and Technology, Lahore, Pakistan
³School of Governance and Society, University of Management and Technology, Lahore, Pakistan
⁴Department of Business, University of Sialkot, Sialkot, Pakistan

*Corresponding Author’s E-mail: zshanstatistician@gmail.com

Accepted February 27, 2018

Abstract

In this paper we tried to explore the impacts of different factors made under China Pakistan Economic Corridor (CPEC). We have used different variables and have to estimate the impact of these variables upon the GDP of Pakistan. Economic growth measured in GDP by using time series data over the period 1976-2015 for thirty nine years. The purpose of the research is to identify the impact of different factors on gross domestic product (GDP) whether these selected independent factors impacts of Gross domestic product or not. The research is conducted to construct an enhanced description of dependent and independent variables and to interpret the relationship between them. Multiple regression models is used to investigate the effect of five selected independent variables on the GDP of Pakistan. We conclude that the impact of Foreign direct investment on GDP of Pakistan is statistically insignificant which shows that on average foreign direct investment has been not a significant contributor in Pakistan’s economic growth during long run period under study.

Keyword: GDP, Pakistan, FDI, CPEC, MNCs