IDEAS home Printed from https://ideas.repec.org/a/lje/journl/v12y2007ispp68-96.html

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://121.52.153.179/JOURNAL/Special%20Edition%20Final%202007/Shakeel%20Faruqi.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Vittorio Corbo & Jaime de Melo & James Tybout, 2015. "What Went Wrong with the Recent Reforms in the Southern Cone," World Scientific Book Chapters, in: Developing Countries in the World Economy, chapter 2, pages 21-54, World Scientific Publishing Co. Pte. Ltd..
    2. Cho, Yoon Je, 1986. "Inefficiencies from Financial Liberalization in the Absence of Well-Functioning Equity Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 18(2), pages 191-199, May.
    3. Roberto Chang & Andres Velasco, 1998. "The Asian liquidity crisis," FRB Atlanta Working Paper 98-11, Federal Reserve Bank of Atlanta.
    4. Caprio, Gerard, 1992. "Policy uncertainty, information asymmetries, and financial intermediation," Policy Research Working Paper Series 853, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Soedarmono, Wahyoe & Machrouh, Fouad & Tarazi, Amine, 2013. "Bank competition, crisis and risk taking: Evidence from emerging markets in Asia," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 23(C), pages 196-221.
    2. Liu, Lili, 1991. "Entry-exit, learning, and productivity change : evidence from Chile," Policy Research Working Paper Series 769, The World Bank.
    3. Haider A. Khan, 2004. "General Conclusions: From Crisis to a Global Political Economy of Freedom," Palgrave Macmillan Books, in: Global Markets and Financial Crises in Asia, chapter 9, pages 193-211, Palgrave Macmillan.
    4. Yue Ma, 2008. "Incomplete financial market and the sequence of international trade liberalization," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 13(1), pages 108-117.
    5. Marcel Fratzscher, 2003. "On currency crises and contagion," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(2), pages 109-129.
    6. Khan, Haider, 2013. "Global Financial Governance: Towards a New Global Financial Architecture for Averting Deep Financial Crises," MPRA Paper 49275, University Library of Munich, Germany.
    7. Abdoulaye Siry & Adama Ouedraogo & Idrissa M. Ouedraogo, 2023. "Resilience and spillover effects on bank financing for the private sector development in sub-Saharan Africa," SN Business & Economics, Springer, vol. 3(12), pages 1-32, December.
    8. Eijffinger, S.C.W. & Goderis, B., 2002. "Financial crises, monetary policy and financial fragility : A second-generation model of currency crises," Other publications TiSEM d2ccad44-44f6-40d8-9be0-1, Tilburg University, School of Economics and Management.
    9. Alex F. McCalla & John Nash, 2007. "Reforming Agricultural Trade for Developing Countries : Volume 1. Key Issues for a Pro-Development Outcome of the Doha Round," World Bank Publications - Books, The World Bank Group, number 13519, April.
    10. Mr. Philippe D Karam & Mr. Douglas Hostland, 2005. "Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods," IMF Working Papers 2005/226, International Monetary Fund.
    11. Umezaki, So, 2006. "Monetary and Exchange Rate Policy in Malaysia before the Asian Crisis," IDE Discussion Papers 79, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    12. Terence Tai Leung Chong & Wenqi Liu, 2017. "The roadmap of interest rate liberalisation in China," Economic and Political Studies, Taylor & Francis Journals, vol. 5(4), pages 421-440, October.
    13. Malgorzata Sulimierska, 2008. "Capital Account Liberalization and Currency Crisis - The Case of Central Eastern European Countries," International Trade and Finance Association Conference Papers 1140, International Trade and Finance Association.
    14. Furceri, Davide & Zdzienicka, Aleksandra, 2012. "Banking Crises and Short and Medium Term Output Losses in Emerging and Developing Countries: The Role of Structural and Policy Variables," World Development, Elsevier, vol. 40(12), pages 2369-2378.
    15. ., 2014. "The case against interest: is it compelling?," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 5, pages 137-162, Edward Elgar Publishing.
    16. Haider Ali Khan, 2002. "The Extended Panda's Thumb and a New Global Financial Architecture," CIRJE F-Series CIRJE-F-163, CIRJE, Faculty of Economics, University of Tokyo.
    17. Roberto Chang & Andrés Velasco, 2000. "Liquidity Crises in Emerging Markets: Theory and Policy," NBER Chapters, in: NBER Macroeconomics Annual 1999, Volume 14, pages 11-78, National Bureau of Economic Research, Inc.
    18. Howard J. Shatz & David G. Tarr, 2017. "Exchange Rate Overvaluation and Trade Protection: Lessons from Experience," World Scientific Book Chapters, in: Trade Policies for Development and Transition, chapter 5, pages 115-127, World Scientific Publishing Co. Pte. Ltd..
    19. C. Pietrobelli, 1994. "Trade liberalisation and industrial response: the case of Chile (1974-1987)," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 47(191), pages 431-468.
    20. Albert Park & Minggao Shen, 2002. "A Refinancing Model of Decentralization with Empirical Evidence from China," William Davidson Institute Working Papers Series 461, William Davidson Institute at the University of Michigan.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lje:journl:v:12:y:2007:i:sp:p:68-96. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Shahid Salahuddin (email available below). General contact details of provider: https://edirc.repec.org/data/lsecopk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.