Pakistan: Breaking Out of Stagflation into Sustained Growth
AbstractThis paper proposes that the underlying cause of the macroeconomic problems facing Pakistan today are a series of supply shocks which have constrained output growth. It is argued that while the current debate has solely focused on government expenditures and revenues, it is critical to also address the acute energy shortages which is constraining supply. The paper goes on to present four recommendations for breaking out of the present stagflation: (i) prudent macroeconomic management, (ii) reviving the role of the government in development while restoring fiscal balance, (iii) loosening monetary policy in order to spur the private sector, and (iv) improving social safety nets.
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Bibliographic InfoArticle provided by Department of Economics, The Lahore School of Economics in its journal Lahore Journal of Economics.
Volume (Year): 16 (2011)
Issue (Month): Special Edition (September)
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Economic Growth; Supply Shock; Pakistan.;
Other versions of this item:
- Amjad, Rashid & Din, Musleh-ud & Qayyum, Abdul, 2011. "Pakistan: Breaking out of stagflation into sustained growth," MPRA Paper 33812, University Library of Munich, Germany.
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- P44 - Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation
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