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Pakistan Financial System - The Post-Reform Era Maintaining Stability and Growth

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  • Shakil Faruqi

    (Lahore School of Economics, Pakistan.)

Abstract

The financial system of Pakistan has undergone a sea-change owing to reforms which were implemented over a period of a decade and a half, 1992-2006. The financial system has moved towards promoting the efficiency of financial intermediation while maintaining stability and fostering growth of the economy. Financial repression of the previous decades has receded though it has notbeen eliminated. Now a shift is warranted for the reform and restructuring of sectoral or sub-sectoral finance which has to be activity based, not institution based. Pakistan’s financial system has entered the post-reform era with all its potentials, complexities and challenges. How well the financial system performs in this era depends on how sustainable the financial regime isand how resilient it is in coping with change and financial shocks, both domestic and global.

Suggested Citation

  • Shakil Faruqi, 2007. "Pakistan Financial System - The Post-Reform Era Maintaining Stability and Growth," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(Special E), pages 68-96, September.
    • Handle: RePEc:lje:journl:v:12:y:2007:i:sp:p:68-96
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    References listed on IDEAS

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    4. Caprio, Gerard, 1992. "Policy uncertainty, information asymmetries, and financial intermediation," Policy Research Working Paper Series 853, The World Bank.
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