The macroeconomic effects of fiscal deficit have been examined in the light of three theories.viz: conventional crowding out, Keynesian crowding out and the monetary approach to the balance of payments. Using data for the period 1959.60 to 1986.87 this paper finds the absence of conventional ns...

Pakistan, like many other labour-abundant countries, experienced that the growth of industrial employment did not coincide with the growth in industrial output and the performance of the manufacturing sector in terms of employment generation remained very poor during the 1970s and 1980s. This...

Pakistan, like other highly indebted developing countries, experienced massive private capital outflows during the 1970s and 1980s. The estimates of capital flight during 1970-88 totaled about 7 billion US dollars. This paper provides an econometric investigation of the causes of capital flight...