Domestic Investment, Foreign Direct Investment, and Economic Growth Nexus: A Case of Pakistan

<table class="table-group" id="tab2"><tr><td><table class="table"><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr class="thead"><td align="left"><span style="width: 21.362499px;"><svg height="15.4" id="M15" style="vertical-align:-3.25793pt" version="1.1" viewbox="0 0 21.362499 15.4" width="21.362499" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
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<g transform="matrix(.012,-0,0,-.012,14.975,15.187)"><path d="M241 635q53 0 94 -28.5t63.5 -76t33.5 -102.5t11 -116q0 -58 -11 -112.5t-34 -103.5t-63.5 -78.5t-94.5 -29.5t-95 28t-64.5 75t-34.5 102.5t-11 118.5q0 58 11.5 112.5t34.5 103t64.5 78t95.5 29.5zM238 602q-32 0 -55.5 -25t-35.5 -68t-17.5 -91t-5.5 -105
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</svg></span></td><td align="center"><span style="width: 21.362499px;"><svg height="15.25" id="M16" style="vertical-align:-3.13504pt" version="1.1" viewbox="0 0 21.362499 15.25" width="21.362499" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,11.112)"><path d="M865 650q-1 -4 -4 -14t-4 -14q-62 -5 -77 -19.5t-29 -82.5l-74 -394q-12 -61 -0.5 -77t75.5 -21l-6 -28h-273l8 28q64 5 82 21t29 76l36 198h-380l-37 -197q-11 -64 0.5 -78.5t79.5 -19.5l-6 -28h-268l6 28q60 6 75.5 21.5t26.5 76.5l75 394q13 66 2 81.5t-77 20.5l8 28
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<g transform="matrix(.012,-0,0,-.012,14.975,15.187)"><path d="M384 0h-275v27q67 5 81.5 18.5t14.5 68.5v385q0 38 -7.5 47.5t-40.5 10.5l-48 2v24q85 15 178 52v-521q0 -55 14.5 -68.5t82.5 -18.5v-27z" id="x31"></path></g>
</svg></span></td><td align="center"><svg height="12.4375" id="M17" style="vertical-align:-0.20064pt" version="1.1" viewbox="0 0 9.5124998 12.4375" width="9.5124998" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,12.162)"><path d="M529 97q-70 -109 -136 -109q-41 0 -56 94q-23 144 -37 284q-38 -88 -99 -202.5t-93 -156.5q-26 -8 -76 -19l-9 21q71 78 145.5 193t124.5 232q-5 84 -15 128q-12 55 -29.5 75.5t-42.5 20.5q-21 0 -45 -13l-8 24q16 17 46 30t55 13q43 0 70 -46.5t40 -169.5
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</svg>-trace</td><td align="center">95% CV</td></tr><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr><td align="left"><span style="width: 34.875px;"><svg height="11.125" id="M18" style="vertical-align:-0.17555pt" version="1.1" viewbox="0 0 34.875 11.125" width="34.875" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.862)"><path d="M393 379q-9 -16 -28 -29q-15 -10 -23 -2q-19 19 -36 19q-21 0 -52 -38q-57 -72 -82 -126l-40 -197q-23 -3 -75 -18l-7 7q49 196 74 335q7 43 -2 43q-7 0 -30 -14.5t-47 -37.5l-16 23q37 42 82 73t67 31q41 0 15 -113l-11 -50h4q41 71 85 117t77 46q29 0 45 -26
q13 -21 0 -43z" id="x1D45F"></path></g><g transform="matrix(.017,-0,0,-.017,11.945,10.862)"><path d="M535 323h-483v50h483v-50zM535 138h-483v50h483v-50z" id="x3D"></path></g><g transform="matrix(.017,-0,0,-.017,26.649,10.862)"><path d="M241 635q53 0 94 -28.5t63.5 -76t33.5 -102.5t11 -116q0 -58 -11 -112.5t-34 -103.5t-63.5 -78.5t-94.5 -29.5t-95 28t-64.5 75t-34.5 102.5t-11 118.5q0 58 11.5 112.5t34.5 103t64.5 78t95.5 29.5zM238 602q-32 0 -55.5 -25t-35.5 -68t-17.5 -91t-5.5 -105
q0 -76 10 -138.5t37 -107.5t69 -45q32 0 55.5 25t35.5 68.5t17.5 91.5t5.5 105t-5.5 105.5t-18 92t-36 68t-56.5 24.5z" id="x30"></path></g>
</svg></span></td><td align="center"><span style="width: 34.875px;"><svg height="11.6" id="M19" style="vertical-align:-1.29163pt" version="1.1" viewbox="0 0 34.875 11.6" width="34.875" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.862)"><path d="M393 379q-9 -16 -28 -29q-15 -10 -23 -2q-19 19 -36 19q-21 0 -52 -38q-57 -72 -82 -126l-40 -197q-23 -3 -75 -18l-7 7q49 196 74 335q7 43 -2 43q-7 0 -30 -14.5t-47 -37.5l-16 23q37 42 82 73t67 31q41 0 15 -113l-11 -50h4q41 71 85 117t77 46q29 0 45 -26
q13 -21 0 -43z" id="x1D45F"></path></g><g transform="matrix(.017,-0,0,-.017,11.945,10.862)"><path d="M531 285l-474 -214v56l416 183l-416 184v56l474 -215v-50zM531 -40h-474v50h474v-50z" id="x2265"></path></g><g transform="matrix(.017,-0,0,-.017,26.649,10.862)"><path d="M384 0h-275v27q67 5 81.5 18.5t14.5 68.5v385q0 38 -7.5 47.5t-40.5 10.5l-48 2v24q85 15 178 52v-521q0 -55 14.5 -68.5t82.5 -18.5v-27z" id="x31"></path></g>
</svg></span></td><td align="center">54.60465*</td><td align="center">42.91525</td></tr><tr><td align="left"><span style="width: 34.875px;"><svg height="11.6" id="M20" style="vertical-align:-1.29163pt" version="1.1" viewbox="0 0 34.875 11.6" width="34.875" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.862)"><path d="M393 379q-9 -16 -28 -29q-15 -10 -23 -2q-19 19 -36 19q-21 0 -52 -38q-57 -72 -82 -126l-40 -197q-23 -3 -75 -18l-7 7q49 196 74 335q7 43 -2 43q-7 0 -30 -14.5t-47 -37.5l-16 23q37 42 82 73t67 31q41 0 15 -113l-11 -50h4q41 71 85 117t77 46q29 0 45 -26
q13 -21 0 -43z" id="x1D45F"></path></g><g transform="matrix(.017,-0,0,-.017,11.945,10.862)"><path d="M531 71l-474 214v50l474 215v-56l-416 -184l416 -183v-56zM531 -40h-474v50h474v-50z" id="x2264"></path></g><g transform="matrix(.017,-0,0,-.017,26.649,10.862)"><path d="M384 0h-275v27q67 5 81.5 18.5t14.5 68.5v385q0 38 -7.5 47.5t-40.5 10.5l-48 2v24q85 15 178 52v-521q0 -55 14.5 -68.5t82.5 -18.5v-27z" id="x31"></path></g>
</svg></span></td><td align="center"><span style="width: 34.875px;"><svg height="11.6" id="M21" style="vertical-align:-1.29163pt" version="1.1" viewbox="0 0 34.875 11.6" width="34.875" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.862)"><path d="M393 379q-9 -16 -28 -29q-15 -10 -23 -2q-19 19 -36 19q-21 0 -52 -38q-57 -72 -82 -126l-40 -197q-23 -3 -75 -18l-7 7q49 196 74 335q7 43 -2 43q-7 0 -30 -14.5t-47 -37.5l-16 23q37 42 82 73t67 31q41 0 15 -113l-11 -50h4q41 71 85 117t77 46q29 0 45 -26
q13 -21 0 -43z" id="x1D45F"></path></g><g transform="matrix(.017,-0,0,-.017,11.945,10.862)"><path d="M531 285l-474 -214v56l416 183l-416 184v56l474 -215v-50zM531 -40h-474v50h474v-50z" id="x2265"></path></g><g transform="matrix(.017,-0,0,-.017,26.649,10.862)"><path d="M412 140l28 -9q0 -2 -35 -131h-373v23q112 112 161 170q59 70 92 127t33 115q0 63 -31 98t-86 35q-75 0 -137 -93l-22 20l57 81q55 59 135 59q69 0 118.5 -46.5t49.5 -122.5q0 -62 -29.5 -114t-102.5 -130l-141 -149h186q42 0 58.5 10.5t38.5 56.5z" id="x32"></path></g>
</svg></span></td><td align="center">25.33604</td><td align="center">25.87211</td></tr><tr><td align="left"><span style="width: 34.875px;"><svg height="11.6" id="M22" style="vertical-align:-1.29163pt" version="1.1" viewbox="0 0 34.875 11.6" width="34.875" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.862)"><path d="M393 379q-9 -16 -28 -29q-15 -10 -23 -2q-19 19 -36 19q-21 0 -52 -38q-57 -72 -82 -126l-40 -197q-23 -3 -75 -18l-7 7q49 196 74 335q7 43 -2 43q-7 0 -30 -14.5t-47 -37.5l-16 23q37 42 82 73t67 31q41 0 15 -113l-11 -50h4q41 71 85 117t77 46q29 0 45 -26
q13 -21 0 -43z" id="x1D45F"></path></g><g transform="matrix(.017,-0,0,-.017,11.945,10.862)"><path d="M531 71l-474 214v50l474 215v-56l-416 -184l416 -183v-56zM531 -40h-474v50h474v-50z" id="x2264"></path></g><g transform="matrix(.017,-0,0,-.017,26.649,10.862)"><path d="M412 140l28 -9q0 -2 -35 -131h-373v23q112 112 161 170q59 70 92 127t33 115q0 63 -31 98t-86 35q-75 0 -137 -93l-22 20l57 81q55 59 135 59q69 0 118.5 -46.5t49.5 -122.5q0 -62 -29.5 -114t-102.5 -130l-141 -149h186q42 0 58.5 10.5t38.5 56.5z" id="x32"></path></g>
</svg></span></td><td align="center"><span style="width: 34.875px;"><svg height="11.6" id="M23" style="vertical-align:-1.29163pt" version="1.1" viewbox="0 0 34.875 11.6" width="34.875" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.862)"><path d="M393 379q-9 -16 -28 -29q-15 -10 -23 -2q-19 19 -36 19q-21 0 -52 -38q-57 -72 -82 -126l-40 -197q-23 -3 -75 -18l-7 7q49 196 74 335q7 43 -2 43q-7 0 -30 -14.5t-47 -37.5l-16 23q37 42 82 73t67 31q41 0 15 -113l-11 -50h4q41 71 85 117t77 46q29 0 45 -26
q13 -21 0 -43z" id="x1D45F"></path></g><g transform="matrix(.017,-0,0,-.017,11.945,10.862)"><path d="M531 285l-474 -214v56l416 183l-416 184v56l474 -215v-50zM531 -40h-474v50h474v-50z" id="x2265"></path></g><g transform="matrix(.017,-0,0,-.017,26.649,10.862)"><path d="M285 378v-2q65 -13 102 -54.5t37 -97.5q0 -57 -30.5 -104.5t-74 -75t-85.5 -42t-72 -14.5q-31 0 -59.5 11t-40.5 23q-19 18 -16 36q1 16 23 33q13 10 24 0q58 -51 124 -51q55 0 88 40t33 112q0 64 -39 96.5t-88 32.5q-29 0 -64 -11l-6 29q77 25 118 57.5t41 84.5
q0 45 -26.5 69.5t-68.5 24.5q-67 0 -120 -79l-20 20l43 63q51 56 127 56h1q66 0 107 -37t41 -95q0 -42 -31 -71q-22 -23 -68 -54z" id="x33"></path></g>
</svg></span></td><td align="center">12.25047</td><td align="center">12.51798</td></tr><tr class="table-tr"><td colspan="4"><hr class="tbody-hr"/></td></tr></table></td></tr><tr class="table-fn"><td><svg height="13.75" id="M24" style="vertical-align:-0.0pt" version="1.1" viewbox="0 0 7.7375002 13.75" width="7.7375002" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.012,-0,0,-.012,.062,5.525)"><path d="M471 153q-22 -15 -61 -13q-25 31 -45.5 49.5t-56.5 41.5q4 -71 28 -134q-17 -33 -42 -46q-24 12 -42 46q24 63 28 134q-36 -23 -56.5 -41.5t-45.5 -49.5q-36 -2 -61 13q0 28 19 59q65 10 130 43q-65 33 -130 43q-19 31 -19 59q22 15 61 13q25 -31 45.5 -49.5t56.5 -41.5
q-4 71 -28 134q17 33 42 46q24 -12 42 -46q-24 -63 -28 -134q36 23 56.5 41.5t45.5 49.5q36 2 61 -13q0 -28 -19 -59q-65 -10 -130 -43q65 -33 130 -43q19 -31 19 -59z" id="x2217"></path></g>
</svg>show significant at 1 percent level.<br/></td></tr></table>

Johansen cointegration test: results of trace stat value.

Economics Research International

tab2

Table 2

Table 2: Domestic Investment, Foreign Direct Investment, and Economic Growth Nexus: A Case of Pakistan 