This paper examines the empirical relationship between financial development and economic growth for high income countries. The study focuses on both indirect finance and direct finance, separately as well as jointly. Applying the methodology of Nair-Reichert and Weinhold (2001) for causality...

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...

The international trade theories assume complete information on demand, supply, prices, product specification and technologies but such assumptions generally do not hold. In particular information is inadequate for both the importers and exporters to make optimal choices. Obviously countries...

This paper examines the growth and patterns of industrial production and investment activities in Pakistan during the last fifty years, 1947–1997. The industrial strategies pursued so far and the levels of efficiency and protection in the manufacturing industries are also examined. It shows...

Irrigation plays a crucial role in improving agricultural productivity, it has resulted in waterlogging and salinity problems in Pakistan due to both water seepage from canals and overdoses of water encouraged by inappropriate water pricing practices. As many as 2.2 million hectares of land...