Pakistan: Breaking Out of Stagflation into Sustained Growth
This 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.
Volume (Year): 16 (2011)
Issue (Month): Special Edition (September)
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References listed on IDEAS
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38150, University Library of Munich, Germany.
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6523, University Library of Munich, Germany.
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National Bureau of Economic Research, Inc.
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- repec:pid:wpaper:2010:2 is not listed on IDEAS
- Qayyum, Abdul & Khan, Sajawal & Khawaja, Idrees, 2005.
"Interest Rate Pass-through in Pakistan: Evidence from Transfer Function Approach,"
2056, University Library of Munich, Germany, revised 2005.
- Abdul Qayyum & Sajawal Khan & Idrees Khawaja, 2005. "Interest Rate Pass-through in Pakistan: Evidence from Transfer Function Approach," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(4), pages 975-1001.
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