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Financial Sector Restructuring in Pakistan

Author

Listed:
  • Muhammad Arshad Khan

    () (Government Post-graduate College Muzaffarabad (Azad Kashmir), Pakistan.)

  • Sajawal Khan

    () (Research Associates, Pakistan Institute of Development Economics, Islamabad, Pakistan.)

Abstract

In this paper an attempt has been made to review the financial restructuring process and its importance for economic growth and macroeconomic stability. The main focus is on the financial restructuring efforts undertaken by the government of Pakistan since 1990. We also analyze the impact of financial restructuring by using various financial indicators. The overall results suggest that the financial industry in Pakistan is showing remarkable and unprecedented growth. Unlike 1990, the performance of the financial sectoris much better today. After the successful completion of first generation reforms, the introduction of second generation reforms is required, which will help to further strengthen the financial system and transfer the benefitsof the first generation reforms to society.

Suggested Citation

  • Muhammad Arshad Khan & Sajawal Khan, 2007. "Financial Sector Restructuring in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(Special E), pages 98-125, September.
  • Handle: RePEc:lje:journl:v:12:y:2007:i:sp:p:98-125
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    References listed on IDEAS

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    1. Ceyla Pazarbasioglu & Claudia H Dziobek, 1997. "Lessons From Systemic Bank Restructuring; A Survey of 24 Countries," IMF Working Papers 97/161, International Monetary Fund.
    2. Leslie E Teo & Charles Enoch & Carl-Johan Lindgren & Tomás J. T. Baliño & Anne Marie Gulde & Marc G Quintyn, 2000. "Financial Sector Crisis and Restructuring; Lessons from Asia: Lessons from Asia," IMF Occasional Papers 188, International Monetary Fund.
    3. Deena Khatkhate, 1998. "Timing and Sequencing of Financial Sector Reforms: Evidence and Rationale," Occasional Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number occ21, April.
    4. David S. Hoelscher, 1998. "Banking System Restructuring in Kazakhstan," IMF Working Papers 98/96, International Monetary Fund.
    5. Dalla, I. & Khatkhate, D., 1995. "Regulated Deregulation of the Financial System in Korea," World Bank - Discussion Papers 292, World Bank.
    6. International Monetary Fund, 1996. "The Role of the Prudential Supervision and Financial Restructuring of Banks During Transition to Indirect Instruments of Monetary Control," IMF Working Papers 96/128, International Monetary Fund.
    7. Iimi, Atsushi, 2004. "Banking sector reforms in Pakistan: economies of scale and scope, and cost complementarities," Journal of Asian Economics, Elsevier, vol. 15(3), pages 507-528, June.
    8. Delano Villanueva & Abbas Mirakhor, 1990. "Strategies for Financial Reforms: Interest Rate Policies, Stabilization, and Bank Supervision in Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 37(3), pages 509-536, September.
    9. Tomás J. T. Baliño & Charles Enoch & William E. Alexander, 1995. "The Adoption of Indirect Instruments of Monetary Policy," IMF Occasional Papers 126, International Monetary Fund.
    10. Lajos Bokros & Alexander Fleming & Cari Votava, 2001. "Financial Transition in Europe and Central Asia : Challenges of the New Decade," World Bank Publications, The World Bank, number 14012, April.
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    Cited by:

    1. repec:taf:rjapxx:v:14:y:2009:i:1:p:5-26 is not listed on IDEAS
    2. Komal, Rabia & Abbas, Faisal, 2015. "Linking financial development, economic growth and energy consumption in Pakistan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 44(C), pages 211-220.
    3. Muhammad Arshad Khan, 2010. "Testing of money multiplier model for Pakistan: does monetary base carry any information?," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 9, pages 1-20, February.
    4. Abdul Qayyum & Muhammad Arshad Khan, 2014. "Dynamic Relationship and Volatility Spillover between the Stock Market and the Foreign Exchange Market in Pakistan: Evidence from VAR-EGARCH Modelling," PIDE-Working Papers 2014:103, Pakistan Institute of Development Economics.
    5. repec:gei:journl:v:4:y:2017:i:1:p:136-150 is not listed on IDEAS
    6. Muhammad Shahbaz & Talat Afza & Muhammad Shahbaz Shabbir, 2013. "Financial Development, Domestic Savings and Poverty Reduction in Pakistan: Using Cointegration and Granger Causality Analysis," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 1(5), pages 59-73, May.

    More about this item

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets

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