摘要：The study empirically investigated the impact of sectoral volatility on fluctuations in economic growth of Pakistan and South Korea (Korea). ADF unit root test is used to check the stationery of the data. Autoregressive Conditional Heteroscadasticity (ARCH) and Generalized Autoregressive Conditional Heteroscadasticity (GARCH) have been used for estimating the volatility in variables under analysis. The results revealed that there exists almost equal level of volatility in GDP growth rate of both countries. However, volatility in agriculture, industry, services, export and import sector varies for two nations. Greater volatility shocks exist in agriculture sector of Pakistan as compared to Korea. Volatility in industrial sector persists in Korean economy only but not to the greater extent. Almost equal level of volatility shocks have been observed in services and import sector of both economies. However, export sector has shown greater volatility shocks in Korea as compared to Pakistan. The results of regression analysis have shown that volatility in agriculture sector contributes more towards volatility in GDP growth of Pakistan as compared to Korea. The volatility in industrial sector almost equally contributes to volatility in GDP of both countries. On the other hand the volatility in services sector contributes more volatility in GDP of Korea as compared to Pakistan. The export sector volatility contributes to volatility in GDP of only Pakistan. Finally the imports sector volatility negatively impacts the GDP volatility in Pakistan but positively in Korea.
