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MACROECONOMIC ADJUSTMENT IN PAKISTAN [1981-2004]: An EVALUATION

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  • MOHAMMAD AFZAL
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    Abstract

    The empirical evidence indicates that the overall macro impact of the adjustment programme was not adverse. Investment, government expenditure, absorption exports, imports, terms of trade and money supply had a significant deviation during the years 1991-2004. Exchange rate has been depreciating but the rate of depreciation is not significant. Debt servicing, external debt and debt servicing ratio to export earnings have followed an uneven trend mostly due to macroeconomic imbalances. Today Pakistan’s economy is more moderate and reformed than it was two decades ago, of course with certain adverse impacts of structural adjustment programme.

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    Article provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.

    Volume (Year): 7 (2007)
    Issue (Month): 1 ()
    Pages:

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    Handle: RePEc:eaa:aeinde:v:7:y:2007:i:1_18

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    1. Behrman, Jere R & Deolalikar, Anil B, 1991. "The Poor and the Social Sectors during a Period of Macroeconomic Adjustment: Empirical Evidence for Jamaica," World Bank Economic Review, World Bank Group, vol. 5(2), pages 291-313, May.
    2. A.R. Kemal, 1994. "Structural Adjustment, Employment, Income Distribution and Poverty," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(4), pages 901-914.
    3. Faiz Bilquees, 2003. "An Analysis of Budget Deficits, Debt Accumulation, and Debt Instability," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 42(3), pages 177-195.
    4. Khadija Ali, 2003. "Gender Exploitation: from Structural Adjustment Policies to Poverty Reduction Strategies," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 42(4), pages 669-694.
    5. Kaiser Bengali & Qazi Masood Ahmed, 2001. "Stabilisation Policy vs. Growth-oriented Policy: Implication for the Pakistan Economy," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 40(4), pages 453-466.
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