The experience of developed countries suggeststhat the capital-goodsindustries are transmitters of technological change and are instrumental in diffusing innovations throughout the economy.' Pakistan's manufacturing industries have largelybeen confined to consumer goods industries, such as food...

This paper examines substitution elasticities between capital and labour in the manufacturing sector of Pakistan. It is found that whereas the substitution possibilities between the capital intensive and labour intensive techniques of production are rather limited, the substitution possibilities...

The Infant Industry Argument is tested against the experience of Pakistan's manufacturing industries. The learning coefficients are estimated by fitting both the Cobb-Douglas and the C.E.S. production functions. The learning coefficients estimated for Pakistan corroborate the Infant Industry...

The large-scale manufacturing sector of Pakistan has grown at an annual compound rate of 14.3 percentt over the period 1949-50 to 1969-70. However, one does not know the rates at which different sub-sectors of this sector have grown in the past. Similarly, earlier studies done for an analysis of...

In an earlier issue of this journal, Diamond [I] has argued that in developing countries increased imports may have an inflationary rather than a deflationary impact on the economy. His reasoning is based on the fact that developing countries are faced with short supplies of imported inputs and...

In most of the developing economies, a rapid growth of G.N.P. invariably implies a larger import bill. Capital goods necessary for development have to be imported and a higher level of income in turn implies an increase in the import of consumption goods. On the other hand, demand for primary...

In the Winter 1974 issue of the Pakistan Del'e/opment RevicII'. Messrs: Azhar and' Sharif have published an article entitled "The Effects of Tax Holiday on Investment Decisions. An Empirical Analysis." It was an interesting article in a very useful area of research. Apart from other subsidies,...

A key element of the Doha Round of trade negotiations is liberalisation of trade in industrial products, commonly known as non-agricultural market access (NAMA). These negotiations are important for developing countries as these will determine the market access opportunities through which they...

We understand that both the level as well as the composition of investment play a crucial role in the economic development process. However, it needs to be understood that investment contributes to the growth process by increasing the productive capacity, improving the technology, and enhancing...

Until the mid-1970s, governments all over the world (especially in the developing economies), intervened in markets on the pretext of market failure arising from externalities, decreasing cost industries, and equity considerations for maximising social welfare. In Pakistan, where the private...