Purpose – It is now widely recognized that human development (HD) and economic growth (EG) are intertwined in two-way feedback processes either leading to an upward spiral of development or a poverty trap. This concept is used to overcome one of the limitations of a previous study by Qureshi...

Purpose – Successive governments in Pakistan have been pursuing pro-growth trickle-down approach with the proclaimed intent that benefits of growth will ultimately reach all. The purpose of this paper is to challenge this intent with a systemic model and suggest alternative policy....

Purpose – The purpose of this paper is to present a dynamic macroeconomic framework that identifies the fundamental structure of public debt accumulation process in developing countries and its two way linkages with economic growth and public finances. Within this framework, the objective of...

Purpose – Successive governments in Pakistan have been pursuing pro‐growth trickle‐down approach with the proclaimed intent that benefits of growth will ultimately reach all. The purpose of this paper is to challenge this intent with a systemic model and suggest alternative policy....

Purpose – It is now widely recognized that human development (HD) and economic growth (EG) are intertwined in two‐way feedback processes either leading to an upward spiral of development or a poverty trap. This concept is used to overcome one of the limitations of a previous study by Qureshi...