Exploring The Linkages Between Exports, Financial Constraints, And Research And Development Investment: Evidence From Pakistan
Author: Romaisa Batool

This study empirically investigates the relationship between exports, financial constraints, and research and development investment at firm level. The analysis is carried out using unbalanced data of 258 exporting firms listed on Pakistan Stock Exchange (PSE) over the period of 2009-2018. Empirical model is estimated using SUR techniques by considering all equations simultaneously. Results of the study show a significant and positive relationship between exports and R&D investment and vice versa. Relationship between financial constraints and exports is found to be negative. Likewise, R&D investment also had a negative effect on financial constraints. Overall, this study suggests that government and private financial institutes need to work together to provide easier access to funds at firm level. Moreover, government should increase coordination between academic institutes and firms to encourage innovate ideas and improve competitiveness at firm level as well as provide incentives and sustainable atmosphere for firms to expand their activities to increase exports and invest in research and development activities. Supervisor: Dr. Ahasn -ul- Haq Satti Co-Supervisor: Dr. Abdul Rashid

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Supervisor: Ahsan ul Haq Satti
Cosupervisor: Abdul Rashid

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