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Does CPEC benefit the sustainable agricultural development in Pakistan: a comparison with open investment policy 1997

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Abstract

This study presents a unique perspective by examining the relationship between foreign investment and agricultural development in Pakistan, specifically focusing on the China-Pakistan Economic Corridor (CPEC) (2013–2030). Using economic indicators from the World Bank (1973–2022) and a vector error correction model, we found a positive correlation between foreign investment and agricultural development. Importantly, our study highlights the potential for significant long-term benefits through investment under the CPEC, provided domestic issues are addressed, and local development policies are balanced.

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Data availability

This study employed secondary data available on the World Bank website, and any specific details about the data will be made available upon request.

Notes

  1. In 1997, a new investment policy was introduced. In the past, only industrial sector was opened to foreign investors. After 1997, agriculture, services or infrastructure, and social sectors were opened to foreign investors.

  2. Null hypothesis: There is no co-integration vector.

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Acknowledgment

This research was supported by Ningbo Shafi Agricultural Technology Co., Ltd (宁波沙菲农业科技有限公司). We would like to express our sincere gratitude to the company for their generous funding and support, which made this study possible.

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Authors and Affiliations

  1. Department of Business Administration, GC Women University Faisalabad, Faisalabad, Pakistan

    Nida Akram

  2. Department of Environmental Science, GC Women University Sialkot, Sialkot, Pakistan

    Shahla Andleeb & Khalil ur Rehman

  3. Ningbo China Institute for Supply Chain Innovation-MIT Global Scale Network, Ningbo, Zhejiang, China

    Muhammad Waqar Akram

  4. Jiangxi University of Finance and Economics, 169 Shuanggang E Ave, Qingshanhu District, Nanchang, 330013, Jiangxi, China

    Muhammad Waqar Akram

  5. MFK Noon Business School, University of Sargodha Pakistan, Sargodha, Pakistan

    Muhammad Zubair Tariq

  6. School of Economics and Management, Southwest Jiaotong University, Chengdu, China

    Muhammad Zubair Tariq

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  1. Nida Akram
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Correspondence to Muhammad Waqar Akram.

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Akram, N., Andleeb, S., Rehman, K.u. et al. Does CPEC benefit the sustainable agricultural development in Pakistan: a comparison with open investment policy 1997. Environ Dev Sustain (2024). https://doi.org/10.1007/s10668-024-05039-w

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