Interventions to fix market failures in infrastructure have often resulted in some form of governance failure and this contributes importantly to explain shortcomings in the supply of infrastructure services in developing countries and increasingly in developed countries in crisis. The...

Since 1990 Pakistan has sold 166 state-owned enterprises for Rs. 476.5 bn (PKR) to finance deficits and increase efficiencies of the mismanaged corporations to spur economic growth. It is said that strategic monopolies like PTCL should not be privatized because foreign intelligence can gain...

This paper aims to highlight the failure of corporate governance in banking sector. Banking in Pakistan was predominantly controlled by the state until 1990. The five major commercial banks controlled 100% of the domestic banking market. However in 1990, the government declared privatization as...

We investigate the effect of the power of creditors, property rights protection, and institutional quality, on bank profits using a panel of 498 banks from 46 countries. Results show that better institutions and stronger property rights protection reduce bank profits, while stronger power of...

This paper takes as a given the proposition that, in many developing countries, governmental policies have been highly distortive and harmful to economic growth. These policies have included omissions, such as neglect of infrastructure, and commission such as highly restrictive trade regimes and...