Investment and Economic Growth: A Panel Data Analysis

Abstract

Article HistoryInvestment plays a vital part in economic progress of the countries. The current study tried to examine the influence of the investment on economic development of South Asian Association of Regional Cooperation (SAARC) countries by used the panel data for the dated 2000-2014. This study applied Hausman test to check the fixed effect model is appropriate or random effect model is appropriate. The empirical results explained that the random effect model is suitable in this study. Random effect model has been examined the influence of investment, government expenditure and inflation on economic evolution of SAARC countries. The study also explained that the investment, government expenditure are positive impact on economic progress. The outcome of inflation is negligible on economic evolution. Contribution/ Originality:This study contributed that investment plays an imperative character in the progression of economic development, by means of a panel data set of SAARC countries. This study empirical result explained that the investment is positive effect the economic growth because the investment rise and the economic evolution also increase. The outcome of government expenditure is positive and significant on economic development. These are durable reason for preserving the public sector. The outcome of inflation is negative and insignificant on economic evolution. In these countries the inflation are negative impact on economic progress because inflation cannot precedes the economic growing.

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