“…See, for example, Canh and Phong (2018), Dreger and Reimers (2015), Foye (2014), Gjini and Kukeli (2012), Furceri andSousa (2011), Hatano (2010), Erden and Holcombe (2006), Mitra (2006), Naqvi (2002), Voss (2002), Laopodis (2001), Erenburg (1993), Serven (1996), Bajo-Rubio and Sosvilla-Rivero (1993), and Haque and Montiel (1993). Similarly, most of the studies in Pakistan such as Fatima (2012), Saghir and Khan (2012), Hussain et al (2009), Rashid (2006), Naqvi (2002), andQayyum (2001) have also worked on the aggregate level. Yet a few studies such as Ahmad and Qayyum (2008), Saeed et al (2006) and Looney (1995) have used sector level data but they analyzed only one or two sectors.…”