Do Financial Development and Economic Openness Matter for Economic Progress in an Emerging Country? Seeking a Sustainable Development Path

While emerging economies face the challenge of competing with developed nations, they are capable catching up to world. In this context, financial development and degree economic openness may provide better living conditions for current generation without giving future generations’ prosperity. Therefore, research’s prime intention is investigate impact on progress, employing Pakistan’s time-series data from 1975–2018. To examine long-term association between openness, development, Autoregressive Distributed Lag (ARDL) cointegration tests were performed results present a these variables. Findings ARDL estimates indicate that relationship progress significantly positive in long term. Contrastingly, short A fully modified ordinary least square technique was applied check robustness links. The Granger causality test revealed motivated by both an economy such as Pakistan. Thus, policies boosting proposed put path sustainable development.