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Financial-Asset Accumulation by the Noncorporate Private Sector in Pakistan 1959/60 to 1965/66

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  • ABDUL GHAFUR

    (Pakistan Institute of Developm:=nt Economics)

Abstract

A detailed investigation into the sources of domestic saving and its uses by various sectors can provide us with a more complete insight into behaviour with respect to saving, portfolio selection, and the pattern of financial interrelationship among sectors. The saving(s) of each sector is defined as the excess of its income (y) over its expenditure on current consumption (c), i.e., s = y-c. Saving (dissaving) by a sector is equivalent to increase (decrease) in the net worth (NW) of that sector over the previous year. A sector that saves must either acquire financial assets, i.e., money and other financial claims, reduce financial liabilities or acquire real assets. In formal terms, s = fl net worth = fl (financial assets - financial liabilities) + fl real assets 1 [8].

Suggested Citation

  • Abdul Ghafur, 1969. "Financial-Asset Accumulation by the Noncorporate Private Sector in Pakistan 1959/60 to 1965/66," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 9(1), pages 66-86.
    • Handle: RePEc:pid:journl:v:9:y:1969:i:1:p:66-86
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