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Industrial Policy: Domestic Challenges, Global Imperatives, and Pakistan’s Choices

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  • Shahid Javed Burki

    (Head, Policy Institute, Beaconhouse National University (BNU) and Former Minister of Finance, Government of Pakistan.)

Abstract

Public policy is aimed at increasing the efficiency of the industrial sector in Pakistan. This paper looks at four issues. Firstly, it looks at the adjustments the new government needs to make to restore macroeconomic balance. Secondly, it discusses the global changes that have occurred in the industrial sector and how these could be incorporated into Pakistani policy making. Thirdly, I have briefly discussed the history of policies implemented in Pakistan. Lastly, I have discussed the importance of decentralized industrial policy making. This paper also conducts an empirical analysis of the impact of industrialization on poverty. It is concluded that industrial development in Pakistan has historically been heavily dependent on government intervention and there was poor growth in this sector as compared to other Asian economies. The paper also presents five proposals aimed at achieving higher growth in the industrial sector.

Suggested Citation

  • Shahid Javed Burki, 2008. "Industrial Policy: Domestic Challenges, Global Imperatives, and Pakistan’s Choices," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 13(Special E), pages 23-34, September.
    • Handle: RePEc:lje:journl:v:13:y:2008:i:sp:p:23-34
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    References listed on IDEAS

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    1. AfDB AfDB, . "AfDB Group Annual Report 2006," Annual Report, African Development Bank, number 62 edited by Koua Louis Kouakou.
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    Citations

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    Cited by:

    1. Bilal Raza, 2021. "Balance of Payments Constrained Growth in Pakistan - Implications for Development Policy," SBP Working Paper Series 107, State Bank of Pakistan, Research Department.
    2. Vaqar Ahmed & Muhammad Zeshan, 2014. "Decomposing Change in Energy Consumption of the Agricultural Sector in Pakistan," Agrarian South: Journal of Political Economy, Centre for Agrarian Research and Education for South, vol. 3(3), pages 369-402, December.
    3. repec:ilo:ilowps:487475 is not listed on IDEAS
    4. Shahid Ali, 2011. "Working Capital Management and the Profitability of the Manufacturing Sector: A Case Study of Pakistan’s Textile Industry," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(2), pages 141-178, Jul-Dec.
    5. Nazia Nazeer & Rajah Rasiah, 2016. "Explaining Pakistan’s Premature Deindustrialization," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 21(Special E), pages 351-368, September.
    6. Amir Azam, 2020. "The Comparative Analysis of the Industrial Policy Impact on Export Performance in the Military and Democratic Regime of Pakistan," Virtual Economics, The London Academy of Science and Business, vol. 3(2), pages 61-76, April.
    7. Akbar Noman, 2015. "The Return of Industrial Policy and Revival of Pakistan’s Economy: Possibilities of Learning, Industrial and Technology Policies," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 20(Special E), pages 31-58, September.
    8. Sayeed, Asad. & Abbasi, Zubair Faisal., 2015. "The role of central banks in supporting economic growth and creation of productive employment : the case of Pakistan," ILO Working Papers 994874753402676, International Labour Organization.
    9. Rajah Rasiah & Nazia Nazeer, 2016. "Comparing Industrialization in Pakistan and the East Asian Economies," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 21(Special E), pages 167-192, September.

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    More about this item

    Keywords

    Pakistan; Public Policy; Industry; Competitiveness; Poverty;
    All these keywords.

    JEL classification:

    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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