This paper investigates the role of credit market frictions in the transmission of monetary shocks in Pakistan. First, using macro data, it is shown that banking spreads are countercyclical, even it is controlled for credit risk, monetary policy and potential maturity mismatches. It is found...

This article is an attempt to look at debates in the light of the Assemblies' tryst with panchayats. It should be noted that it is not an evaluation of what transpired in the state Assemblies. In view of the time constraint, the Assembly proceedings of only four states have been covered under...

The information included in this publication covers the public debt management strategies adopted in 2009, the movements in debt stock during the year and the related costs and risks and the primary and secondary market operations of government securities including the performance of primary...