International Financial Statistics Research Articles

Nonlinear effect of Islamic financing on economic stability: A Case of equity and debt financing

The main purpose of this study is to differentiate between the effects of two major categories of financing of Islamic banks on the economic stability of the selected countries. This study determines the nonlinear effect of equity-based and debt-based financing of Islamic banks to assess how the stability of the economy can be achieved. This study acquires the data on Islamic banking product-wise financing at a national level from the Islamic Financial Service Board (IFSB), and the data on industrial production index is selected from International Financial Statistics for selected countries. The sample size comprises of all the countries included in the IFSB. The data ranges from 2014Q1 to 2019Q4. The economic stability is estimated using the GARCH volatility approach, and the nonlinear ARDL model is used to determine the causal effect of Islamic banking product wise financing. This study clarifies the empirical relationship between Islamic banking equity-based financing and debt-based financing and whether macroeconomic stability is linear or quadratic in terms of the marginal effect of financing, which helps policymakers to constitute strategies for expanding the size of Islamic banking financing. The results identified the inverted U-shaped effect of equity-based financing types on output instability. At the same time, both financing types are not causing price instability. The outcomes are instruments for the central bank to optimize the Islamic banking financing structure to achieve the goal of product-wise financing of economic stability.

SINO-AFRICA AND TECHNOLOGICAL TRANSFER: IMPLICATION ON SUSTAINABLE DEVELOPMENT IN NIGERIA

Technology is critical to industrialization and economic development of any nation and it is one of the serious bottlenecks in African industrialisation. There is no doubt that technology transfer is one of the less studied subjects in China-Africa relations. Foreign direct investment is an important factor for both technology transfer and economic growth in developing countries like Nigeria. Technological advancement has also become a major challenge to industrialization in Nigeria and to improve her economy, the Nigerian government had made various efforts at acquiring foreign technology to drive the development processes. The Nigerian government had signed pact with the Chinese government in critical areas such as agriculture, manufacturing, military, industry, education and other social sectors through Technological Transfer (TT) and Technical Cooperation (TC) that will aid knowledge sharing and transfer for the purpose of improving the economy. In view of this, the study examines the implication the Sino-Africa and technological transfer on sustainable development in Nigeria. The study employed the interpretivism philosophy and the qualitative approach was adopted in data collection and analysis. Secondary data were sourced from the United Nations Commodity Trade Statistics (UNCTS) Database, Nigeria National Bureau of Statistics, and the World Trade Organisation (WTO) Statistics database, Foreign Direct Investment (FDI) figures were from the United Nations Conference on Trade and Development (UNCTAD) Database, International Monetary Fund (IMF), and the United Nations Statistics Database (UNdata). Other sources were the International Monetary Fund (IMF) Database, International Financial Statistics (IFS) of the World Bank; publications of Central Bank of Nigeria (CBN) and other agencies of government as well as newspapers and journals. Also, key informant interviews were conducted with Chinese expatriates in Lagos and Ogun State, Nigeria. Data collected were analysed using content analysis method. Findings of the study reveals that there is no clear-cut policy statement on Sino-Africa technological transfer and knowledge sharing; thus, the Nigerian government cannot sufficiently absorb new technology from Chinese multi-national corporations as most of these corporations always come as agents of Foreign Direct Investment (FDI) or contractors. The study concludes that adaptation and implementation of policy on technological transfer cannot promote sustainable development in Nigeria. The study recommends among others that knowledge and technology transfer should form the basis of a regulatory framework of the national FDI policy. Also, there is need for the establishment of training institutes in each State of the federation so as to facilitate technological transfer. In addition, there should be collaboration between the established training institutes and higher institutions of learning so that students can have practical knowledge on advanced equipment, methodologies and technologies that will engender sustainable development in Nigeria within a decade.

The Role of Textile Export in Vietnam’s Exports and Economic Growth: View from Quantitative Analysis

This paper examines the relationship between textile exports (XM) and total export turnover (X), real gross domestic product (GDPR) (representing economic growth), using time series data collected from the International Financial Statistics (IFS-IMF) and the General Statistics Office (GSO) during the period 1995-2022. The research team uses Eview8 software to build linear regression between XM – X and XM – GDPR in the Vietnamese economy. Quantitative analysis results showthat when textile exports (XM) increase by 1%, total export turnover (X) increases by 0.544969%, the coefficient of T1 (trend variable 1) has a positive value, showing a positive correlation between XM and X. When textile exports (XM) increase by $1 million, the real gross domestic product (GDPR) increases by 95923.95 million VND, the coefficient of T2 (trend variable 2) has a positive value, showing a positive correlation between XM and GDPR and an increase in Vietnam’s economic growth. By using results of the quantitative analysis, articles relate to textile exports and economic growth in Vietnam, the research team offers some recommendations to promote exports in general, textile exports in particular, and the economy of Vietnam.

Unpacking the asymmetric impact of exchange rate volatility on trade flows: A study of selected developed and developing Asian economies.

Maintaining a stable exchange rate is a challenging task for the world, especially for developing economies. This study examines the impact of asymmetric exchange rates on trade flows in selected Asian countries and finds that the effects of increased exchange rate volatility on exports and imports differ among Pakistan, Malaysia, Japan, and Korea. The quarterly data from the period 1980 to 2018 is collected from the International Financial Statistics (IFS) database maintained by the International Monetary Fund (IMF). We employ both linear and non-linear Autoregressive Distributed Lag (ARDL) models for estimation. The non-linear models yielded more significant findings, while the linear models did not indicate any significant effects of exchange rate volatility on trade flows. The results of the study suggest that in the case of Pakistan, both the linear and non-linear models indicate that increased exchange rate volatility adversely affects exports and imports, while decreased volatility enhances both. This implies that stabilizing the exchange rate would be beneficial for Pakistan's trade. In contrast, the linear model applied to Malaysia shows no long-run effects of exchange rate volatility on exports. However, the result suggests that decreased volatility stimulates Malaysia's exports. Therefore, in the case of Malaysia, stabilizing the exchange rate could contribute to boosting exports. We also found that increased exchange rate volatility boosts exports of Japan. On the other hand, decreased volatility hurts exports of Japan. As for the long-run effects of exchange rate volatility on imports, we found that increased volatility boosts imports of Korea. The study provides various policy implications regarding the impact of exchange rate volatility on trade flows in developing economies. The study highlights the importance of country-specific considerations in understanding the impact of exchange rate volatility on trade flows, and has important policy implications for promoting trade and economic growth in these nations. It emphasizes the need to model exchange rate volatility separately for developed and developing countries and to continue research and analysis to identify ways to mitigate its negative effects on the economy.

Exchange Rate Volatility in Response to Covid-19 in SAARC Countries

The Objective of this study is to check the connection of exchange rate volatility in response to COVID- 19, with the help of two different models. We used twelve variables in these two model Exchange rate volatilities, Govt Effectiveness, Unemployment, Inflation, Lending Interest rate, GDP per capita, Population, Immunization, Govt Expenditure on education, Life- Expectancy, and Hand washing. The data collected from World Development Indicator, World Health Organization, International Financial Statistics, Worldwide Governs indicators, and COVID-19 data collected from-our-world-in-data. ARCH and GARCH models are used to find out the Volatility of the Exchange rate. This study employed the Generalized Method of Moments (GMM) model because it is a versatile and effective statistical technique that permits parameter estimation in models with potential endogeneity and measurement error concerns. Panel GMM Technique is used to find the significant result. According to model one Exchange rate volatility has a positive and significant connection with the Covid-19 cases or death rate, Govt effectiveness, and Govt Expenditure on education, and negative relation with Unemployment, Inflation, Lending interest rate, Number of COVID-19 cases, Population, and GDP Per capita. According to our second model results, all the variables have a positive relation with COVID-19 except Government Effectiveness and Immunization.

Elements Affect Japan GDP Growth

After a severe economic crisis, the Japanese economy entered a recessionary phase. Since the 1990 bubble economy, consumption, investment, and export became essential factors to support Japan GDP growth. This paper is supported by data collected by the International Financial Statistics (the base year is the 2015 Japanese Yen). Therefore, this paper also applies the Hodrick-Prescott filter to extract the cyclical rate of change of the variables and analyze the de-trend correlation of each factor with GDP. This method estimates the best-fitting directional line from a frequently fluctuating data set. According to the analysis, Japan's GDP remained generally unchanged with a slight increase after the bubble crisis, which again proved the country's economic stagnation. However, Japan's exports grew significantly this year, effectively giving a short-term increase in GDP. In addition, consumption has the least fluctuation with GDP, and focusing on the development of consumption can bring stable long-term growth to GDP. In summary, this paper analyzes and argues that factors of production such as consumption and exports may get Japan out of this predicament.

Effect Of Monetary Policy Regimes On Output Growth In West Africa

This paper examines the effect of monetary policy regimes on output growth in West Africa. This was undertaken given that countries in the region require output growth, but are pursuing different monetary policy regimes and are yet to witness adequate output growth. So this set the objective of the study. The study made use of a longitudinal research design that obtained cross-section data from the secondary sources of the Central Banks of the selected countries, the World Bank Development Indicator, the International Monetary Fund as well as the International Financial Statistics database for the period from 2000 to 2021. The data analysis method involved using both descriptive and inferential statistics. The Panel Autoregressive Distributed Lag (ARDL) using a Pooled Mean Group (PMG) regression was used for the estimation. The results obtained indicate that the monetary policy rate was only effective in the short run to exert a significant effect on output growth, while the money supply was significant in both the short run and long run. So, the study makes the following recommendations; money supply is an effective tool for achieving output growth and this should be effectively managed to curb inflationary trends that may arise as a result of increased money supply in order not to reverse economic growth. Monetary authorities should promote activities in all sectors of the economy, particularly in the high-growth sectors. There should be cooperation between the monetary and fiscal authorities in West Africa to ensure smooth coordination and consistency in monetary and fiscal pursuits.

Asymmetric effects of exchange rate volatility on trade flows in Nigeria

Purpose — This study assesses the symmetric and asymmetric effects of exchange rate volatility on trade flows in Nigeria.Method — The study employs quarterly data and covers the period 1995q1 to 2020q4. The data were sourced from International Financial Statistics (IFS) and Central Bank of Nigeria (CBN) websites. The paper applies both linear ARDL and non-linear ARDL (NARDL) models. These methods are employed to evaluate the symmetric and asymmetric effects of exchange rate volatility.Result — The results from linear ARDL model show that exchange rate volatility has only significant short-run effect on export while it has both short-run and long run effects on the imports. The findings from the non-linear ARDL suggest that exchange rate volatility has neither short run nor long run asymmetric effects on exports. However, the non-linear ARDL model reveals short run and long run asymmetric effects of exchange rate volatility on imports. The findings show that increase in volatility reduces imports while decrease in volatility boosts imports.Contribution — Previous studies have only investigated the symmetric effects of exchange rate volatility on trade balance in Nigeria. This study contributes to the literature by examining the symmetric and asymmetric effects of exchange rate volatility on trade flows, using the GARCH-based measure of exchange rate volatility.

Financial inclusion and financial development: implications for monetary policy effectiveness and economic growth in sub-Saharan Africa

PurposeThis paper explores the implications of financial inclusion and financial development for the conduct of monetary policy in achieving price stability and economic growth in sub-Saharan Africa (SSA).Design/methodology/approachThe paper employs the system-generalized methods of moment (GMM) estimation technique using panel data spanning 2004 to 2019 and sourced from Databases of (International Monetary Fund's) IMF's Financial Access Survey (FAS), IMF's International Financial Statistics (IFS), World Bank's Global Financial Development Database (GFDD) and World Bank's World Development Indicators (WDI).FindingsThe authors find that financial inclusion has a double-edge effect in SSA. That is, it increases economic growth and lowers inflation in SSA. Furthermore, the results show that a simultaneous increase in financial inclusion and financial development have restrictive effects on economic growth. On the evidence provided, the authors conclude that financial inclusion is an important predictor of economic growth and the conduct of monetary policy in the sub-region.Originality/valueThis paper expands and contributes to the frontier of knowledge how financial inclusion is important for the conduct of monetary policy by monetary authorities in achieving its intended objectives in SSA. The paper highlights the need for ongoing enhancement of financial inclusion of many governments in the sub-region to achieving high economic growth and price stability. Thus, there is the need for policy makers to ensure that a more stringent, effective and appropriate policies and measures are put in place to enhance financial inclusion while taking into consideration the extent of financial development in SSA.

The Influence of Federal Funds Rate Volatility Before and During The Covid-19 Pandemic on Economic Stability in Asean Countries

The purpose of this study is to analyze the effect of the Federal Funds Rate before and during the Covid-19 pandemic on economic stability in five developing countries in the Southeast Asian region which are members of an economic and geopolitical organization, namely the Association of Southeast Nations (ASEAN) to see short-term relationships. and long-term during that period. The indicators of economic stability used are the benchmark interest rate for deposits, the reference interest rate for loans, the balance of payments which includes exports and imports, inflation, exchange rates, and the money supply. In this study, the method used was the quantitative method and the data obtained was secondary data sourced from International Financial Statistics (IFS) from January 2015 to December 2022 which used the Vector Error Correction Model (VECM) approach in the Eviews 9 application. The results found indicated that in the long run, the existence of FFR volatility has a positive effect on the Deposit and Export Reference Rates. While those that have a negative effect are Loan Reference Rates, Imports, Exchange Rate Inflation, and Money Supply. In the short term, the existence of the FFR interest rate has a positive effect on the Reference Rates for Deposits, Imports, and Inflation. While those that have a negative effect are Loan Reference Rates, Exports, Exchange Rates, and Money Supply

The Moderating Role of Foreign Exchange Rate in the Relationship between Outward Foreign Direct Investment and Economic Growth in Kenya (1986-2021)

Purpose: The purpose of this study was to investigate the moderating role of foreign exchange rate in the relationship between outward foreign direct investments and economic growth in Kenya. The central purpose of any government is to formulate strategies that boost economic growth and correct capital flight. The Foreign Exchange Rate (FER) fluctuations generated by globalization are expected to leverage the effect of capital flight and boost economic growth, but this seems not to happen. Further, the loss of foreign exchange reserves resulting from capital flight demonstrates that some financial savings are lost to the economy. Since FER is a strong determinant of Gross Domestic Product (GDP), the effects of this scenario are a great economic concern. The dependent variable for this study was economic growth, while the independent variable was outward foreign direct investments. The general objective of this study was to investigate the moderating role of foreign exchange rate in the relationship between outward foreign direct investments and economic growth in Kenya. The specific objective was to determine and evaluate the effect of outward foreign direct investments on the economic growth in Kenya as well as to investigate the moderating role of foreign exchange rate in the relationship between outward foreign direct investments and economic growth in Kenya. The indicator of economic growth was the percentage change in GDP.
 Methodology: This study adopted an ex-post facto research design with a sample size of 35 years from 1986 to 2021 and relied on secondary data from Kenya National Bureau of Statistics (KNBS), International Financial Statistics (IFS), Central Bank of Kenya (CBK), International Monetary Fund (IMF), World Development Index (WDI), United Nations Commodity Trade (UN Comtrade) and African Development Indicators (ADI).
 Findings: Using a panel data model, the study found that outward foreign direct investments did not have any significant effect on economic growth when foreign exchange rate was included in the model as an interaction variable. Foreign exchange rates had a significant effect on economic growth. The relationship was inverse indicating that the foreign exchange rate affected economic growth negatively. The interaction variable had a positive and significant coefficient indicating that the foreign exchange rate moderated the relationship between outward foreign direct investment and economic growth.
 Unique contribution to theory, practice and policy: From the empirical findings, we can infer that outward foreign direct investment did not constrain resources and did not affect economic growth.

Analysing the Impact of Foreign Exchange Rate on Macroeconomic Variables in India

This paper analyses the impact of foreign exchange rates on the foreign exchange reserves and the real Gross Domestic Product in India. These variables are essential for India’s external sector policy. Some basic definitions of the different kinds of exchange rates are covered in light of India’s economic context. This is followed by a literature review on the dilemma of adopting a strong or a weak exchange rate policy and its implications on the economy. Presented after this is a model of the cyclical nature of currency fluctuations in an economy. Empirical evidence shows that currency depreciation causes an increase in foreign exchange reserves and economic growth. Data from the International Financial Statistics of the International Monetary Fund and World Development Indicators of the World Bank has been utilised using econometric tests and software to verify the hypothesis. Results are ascertained and concluding remarks are made thereafter. Certain limitations to the research have been described as well.

Effect of Stock Market Capitalization on Economic Growth in Kenya

This study examined the effect of stock market capitalization on economic growth in Kenya. The study adopted explanatory research design that is quantitative. The study was guided by neoclassical endogenous growth theory. The major sources of data were national accounts data from the Kenya National Bureau of Statistics (KNBS) Economic Surveys, Statistical Abstracts and International Financial Statistics (IFS) site for the period 1990-2021. The study used a vector error correction model. The variables were first tested for unit root thereafter Johansen cointegration Technique was used to test the long run relationship of the variables. The study found that there were unit roots at levels but became stationary after first difference. Results showed that stock market capitalization had a negative and significant long run relationship on economic growth in Kenya (β= -0.148, p<0.05). The capital market authority may relax the listing requirements to enable more firms get listed in Nairobi Securities Exchange to strengthen growth stock markets capitalization and therefore spur economic growth

Monetary policy regimes and price stability in the West African monetary zone

The study examined monetary policy regimes and price stability in the West African Monetary zone. This was undertaken given that countries in the zone are implementing different monetary policy regimes to achieve price stability for macroeconomic stability and economic growth, yet these have been elusive. So, the objective of the study was to examine the effect of monetary policy regimes on price stability in the West African monetary zone. The study adopted an ex-post facto research design and obtained secondary data from documents of the Central Banks of the WAMZ countries, the World Bank Development Indicator (WDI), the International Monetary Fund (IMF), and the International Financial Statistics (IFS) database for the period from 2001 to 2021. The method of data analysis involved the use of descriptive and analytical statistical tools. The estimation technique employed was the Panel Autoregressive Distribution Lag model, complemented by the Juodis, Karavias, and Sarafidis (2021) granger-causality test. The findings of the study indicate that the various monetary policy regimes being implemented in the West African Monetary Zone yielded conflicting effects on price stability. On the whole, the results show that the monetary policy rate against the money supply is more effective to achieve price stability in the West African monetary zone. Hence, the study makes the following recommendations; policymakers must ensure that an effective monetary policy is put in place to curb the persistent inflation in the zone that undermines socioeconomic development. Countries should review monetary policy rates appropriately to stimulate output growth, and, there should be cooperation between the monetary and fiscal authorities in the West African Monetary Zone to ensure smooth coordination and consistency in monetary and fiscal pursuits.

ECONOMICS IS NOTHING WITHOUT THE IMPACT OF MACROECONOMIC DETERMINANTS ON ECONOMY OF PAKISTAN

This research aims to find the impact of Macroeconomic Variables on Economic Growth of Pakistan. The study helps to understand the implications of Personal Remittances, Inflation Deflator, Electric Consumption, Foreign Direct Investment, Imports, Mineral Resources, GDP Per Capita, Gross Capital Formation, Domestic Credit to Private Investment, Real Effective Exchange Rate, and Broad Money on the Gross Domestic Product of Pakistan. The 51 years of time series data is taken from 1971 to 2021 which is collected from the website of State Bank of Pakistan, International Financial Statistics and from World Development Bank Indicators for the years 2021-2022. The model is tested by using Ordinary least square. All the variables are significant. R2 is 0.98 which shows that selected independent variables are explaining the variation in dependent variable with the highest percentage. F-Statistics confirms the overall goodness of fit of the model. Stationarity level of the data is analyzed by Augmented Dickey-Fuller (ADF) test. Durbin Watson is 2.0, which is an indication of no autocorrelation. Descriptive Statistics are calculated to see the probability of Jarque Berra. To check the Normality Histogram is drawn. Stability of the model, serial correlation, heteroscedasticity, Normality and Structural Stability diagnostic tests have been applied on the data. LM Test, Ramsey Reset Test, Breusch-Pagan-Godfrey test, Correlation, Covariance Matrix, Correlogram, forecast model, CUSUM and CUSUM SQ and recursive stability graph has been tested to fulfill the conditions of time series analysis. Co-integration test has shown that there is long run association between variants.Another test to see the short run association between change ables show that there is neither one way nor two way causality among them..The findings are that macroeconomic variables Broad Money, Gross Capital Formation in $, Minerals and GDPPC$ have positive significant relationship with is significant relationship with GDP and their respective t-values are 3.6808, 10.99676, 3.55973, 3.0824338 and 2.7287. Imports, Foreign Direct Investment, Electric Consumption and Direct Credit on Private Investment have significant negative relationship with Economic Growth of Pakistan. Their respective t – values are -3.10085, -2.72875, -2.61744 and -6.15435. Personal Remittances, Exchange Rate and Inflation Deflator have insignificant relationship with GDP and their respective t-values 0.809843, 1.062302 and -0.10167.Government should ensure peaceful environment for foreigners to invest in Pakistan. The law-and-order situation, political unrest, high rate of unemployment, increase in prices, devaluation of currency and widening energy crisis needs to be handled from individual level to aggregate level. Keywords: Remittances, Foreign Direct Investment, Gross Domestic Product, Exchange Rate, ADF, ARD.

EXCHANGE RATE STABILITY IN ASEAN COUNTRIES DURING THE COVID-19 PANDEMIC

This study aims to analyze the effect of macroeconomic variables on exchange rate stability in five developing countries in Southeast Asia that are members of the Association of Southeast Nations (ASEAN) geopolitical and economic organization to see the short-term and long-term relationships during the COVID-19 pandemic. The data used is secondary data, from International Financial Statistics (IFS) for the period January 2020 to June 2022 using the Vector Error Correction Model (VECM). The results show that in the long run the variables that have a positive influence on exchange rate stability are lending rates, exports and the money supply. While the variables that have a negative influence are deposit rates, imports and the current account. In the short term, variables that have a positive influence on exchange rate stability are deposit rates, imports and the current account. However, the variable lending rates, exports and the money supply have a negative effect

Macro-Econometric Model: Keynesian-Monetarist Synthesis of the International Balance of Payments (The Indonesian Case)

The study of the Keynesian-monetarist synthesis macroeconomic model on Indonesia’s balance of payments combines the goods market and money market approaches to Indonesia’s balance of payments theory. This study used three models of shortness to balance payments: Keynesian, monetarism, and synthesis of Keynesian and monetarism methods. Data was used from 1998 to 2019 from International Monetary Fund, international financial statistics, and balance sheet book from Bank Indonesia statistics report. The data is analyzed using reduced-form regression analysis. The results show that based on the monetarist approach to the balance of payments, it is found that the effect of the money multiplier on the international balance of payments; the magnitude of which is strongly influenced by the size of the high-powered money or the monetary base; has a negative effect on the international balance of payments, while the Net Domestic Assets has a positive effect on the international balance of payments. In the Keynesian model of the international balance of payments, it is found that government spending, world income, and domestic prices have a negative effect on Indonesia’s balance of payments. Based on the Keynesian-monetary syntheses approach to the balance of payments, it is found that government spending and domestic prices have a negative effect on the international balance of payments; the higher the level of government spending and the level of domestic prices will reduce foreign exchange reserves. At the same time, an increase in foreign income, in this case, an increase in US GDP, will increase Indonesia’s foreign exchange reserves.

Pengaruh Neraca Perdagangan Barang dan Jasa Pada Nilai Tukar Rupiah Terhadap Yuan

The purpose of this to identify the effect of the trade items and services on the exchange rate rupiah/yuan. The data used is quaetely time series 2010Q1-2018Q4 From International Trade Statistic (ITS) and International Financial Statistic (IFS). Data consists of export, import and exchange rate. The model of analysis used is multiple linear regression. The result shows Indonesia-China exports have a negative and significant effect on the exchange rate rupiah/yuan, Indonesia-China imports have a positif and significant effect on the exchange rate rupiah/yuan.Keywords: Exchange Rate, Export, Import, Multiple linear regression

The Effect of Corporate Income Tax on Investment in Japan

The purpose of this research is to analyse and examine the effect of corporate income tax on the investment in Japan from 1987 to 2016. It is an associative-causal research. The secondary data are taken form International Monetary Fund, International Financial Statistics and data files using World Bank. The hypotheses were tested by using the multiple linear regression analysis. The results of this research showed that, simultaneously, corporate income tax rate and interest rate have highly significant effect on investment. After the research is conducted and it was analysed with partial test, corporate income tax rate negatively affects investment in Japan. It is highly recommended that Japan government should reduce the corporate income tax on companies so that there will be more investment in Japan.
 JEL Classification: E22, H32

Asymmetric Effect of Oil Prices on Export Performance: The Role of Export Financing Schemes in Pakistan

This study aims to check the impact of export financing (EF) schemes like EF-25, oil prices, exchange rate, and foreign direct investment on export performance in Pakistan. Study utilized textile exports and non-textile exports to measure the export performance in Pakistan. Data for modeled variables are taken from the State Bank of Pakistan (SBP), and International Financial Statistics (IFS) for the period of 2004 to 2020. This study employed Auto Regressive Distributive Lags (ARDL) and Non-Linear Auto Regressive Distributive Lags (NARDL) models from 2004 to 2020 to check the symmetric and asymmetric impact of modeled variables on export performance in Pakistan. It is observed that there is a positive and significant impact of export financing schemes and oil prices on the performance of the export of Pakistan in both time regimes before and after the world financial crisis 2008. Asymmetric effects showed that positive shock in oil prices leads to a positive change in exports and negative shock also leads to a positive change in exports. The impact of export financing on the textile sector is significant and positive but it is insignificant in the case of oil prices. Whereas the impact of oil prices on non-textile exports of Pakistan is significant and a positive rather insignificant impact of export financing is found for non-textile exports. According to the results, export financing is favorable for Pakistan's export performance so it should be encouraged and more schemes should be introduced.