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...

It is now well-recognised that institutions matter in the growth process both directly and indirectly. Well-functioning institutions lead to higher investment levels, better policies, increase in social capital stock of a community, and better management of ethnic diversity and conflicts [see...

Rising levels of debt and debt servicing, falling rates of investment, declining growth rates of output and employment, and sharp increase in poverty sum up the disappointing performance of Pakistan’s economy over the last decade. By the end of the fiscal year 2001, external debt had increased...

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...

This paper explores the impact of two shocks, trade liberalisation policies and decline in remittances, on welfare and poverty in Pakistan. It begins by reviewing the economy, which reveals that during the Nineties although import tariffs were reduced by 55 percent, poverty however remained...

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...

The present study examines the case for the privatization of public industrial enterprises in Pakistan, where the term 'privatization' is defined as a transfer of ownership from the public to the private sector. The focus of analysis is to compare the efficiency levels in public and private...