Critical Success Factors for Economic Development & Growth in Developing Countries: A Case Study of Pakistan

Abstract

Multiple economic indicators and tools are intensively discussed in the academic literature. In the current piece of art, the factors like FDI, Gross Domestic Productivity (GDP), Human development, literacy rate, youth and unemployment have been primarily analyzed to define the current economic situation in the country. Specifically the indicator of ‘Foreign Direct Investment’ (FDI) has been focused to define the economic growth of Pakistan. For the research secondary source of data has been gathered for the time duration of last 5 years. Findings show that, factors such as FDI, GDP and Human development are of significant importance for the economic growth and development of Pakistan, while the factors like literacy rate, youth and unemployment are relatively less important. The paper is of great importance. This study can play a vital role in compelling the government authorities to focus their intention towards the economic and growth indicators of high importance. The study can also be an effectual case for other countries facing alike economic situation.