Saving, Foreign Inflows and Economic Growth: Evidence from Selected Developing Countries

The current study seeks to investigate the impact of saving and foreign inflows on economic growth of selected developing economies such as Pakistan, India, Bangladesh, and Sri Lanka by utilizing yearly panel data for 1990-2020. Long run results of panel ARDL indicate that trade openness and capital investment have positive and significant effects on services sector whereas, government - household consumption expenditure, labor force and inflation have inverse relation with services growth. In order to enhance the economic growth, the Governments are required to improve the education sector along with the tax rebates for the business sector so that target of excelling economic growth be accomplished.