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Reconstructing the Performance of Pakistan’s Political Economy: Another Paradigm

  • Inayat Ullah Mangla

    ()

    (Haworth College of Business, Western Michigan University (USA).)

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    This paper looks at the major factors limiting economic growth in Pakistan. The paper then analyzes the structural problems faced by Pakistan today and goes on to discuss the challenges facing monetary policy makers in Pakistan as well as the problem of budget and trade deficits. The paper concludes with a discussion on the key institutional changes needed in Pakistan.

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    File URL: http://121.52.153.179/JOURNAL/LJE%2016%20se/03%20Mangla%20-%2017th%20September%202011.pdf
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    Article provided by Department of Economics, The Lahore School of Economics in its journal Lahore Journal of Economics.

    Volume (Year): 16 (2011)
    Issue (Month): Special Edition (September)
    Pages: 30-70

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    Handle: RePEc:lje:journl:v:16:y:2011:i:sp:p:31-70
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    1. M. Ege Yazgan & Hakan Yilmazkuday, 2007. "Monetary policy rules in practice: evidence from Turkey and Israel," Applied Financial Economics, Taylor & Francis Journals, vol. 17(1), pages 1-8.
    2. NR, Bhanumurthy & Kumawat, Lokendra, 2009. "External Shocks and the Indian Economy: Analyzing through a Small, Structural Quarterly Macroeconometric Model," MPRA Paper 19776, University Library of Munich, Germany.
    3. Michael Woodford, 2001. "The Taylor Rule and Optimal Monetary Policy," American Economic Review, American Economic Association, vol. 91(2), pages 232-237, May.
    4. Qayyum, Abdul, 2005. "Modelling the Demand for Money in Pakistan," MPRA Paper 2057, University Library of Munich, Germany, revised 2005.
    5. Abdul Rashid, 2005. "Public / Private Investment Linkages: A Multivariate Cointegration Analysis," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(4), pages 805-817.
    6. Wasim Shahid Malik & Ather Maqsood Ahmed, 2010. "Taylor Rule and the Macroeconomic Performance in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 49(1), pages 37-56.
    7. Robert A. Mundell, 2000. "A Reconsideration of the Twentieth Century," American Economic Review, American Economic Association, vol. 90(3), pages 327-340, June.
    8. Eijffinger, Sylvester C.W. & Geraats, Petra M., 2006. "How transparent are central banks?," European Journal of Political Economy, Elsevier, vol. 22(1), pages 1-21, March.
    9. Rashid Amjad, 2003. "Solving Pakistan's Poverty Puzzle: Whom Should We Believe? What Should We Do?," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 42(4), pages 375-393.
    10. Alesina, Alberto, 1992. "Political models of macroeconomic policy and fiscal reform," Policy Research Working Paper Series 970, The World Bank.
    11. Lino Briguglio & Gordon Cordina & Nadia Farrugia & Stephanie Vella, 2009. "Economic Vulnerability and Resilience: Concepts and Measurements," Oxford Development Studies, Taylor & Francis Journals, vol. 37(3), pages 229-247.
    12. Salim U. Chishti & M. Aynul Hasan & Syed F. Mahmud, 1989. "Macroeconomic Policies and the Pakistan's Economy," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 28(4), pages 717-730.
    13. Wasim Shahid Malik, 2007. "Monetary Policy Objectives in Pakistan : An Empirical Investigation," Macroeconomics Working Papers 22212, East Asian Bureau of Economic Research.
    14. J. E. Stiglitz, 1999. "Introduction," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 28(3), pages 249-254, November.
    15. Akhtar Hossain, 1990. "The Monetarist versus the Neo-Keynesian Views on the Acceleration of Inflation: Some Evidence from South Asian Countries (with Special Emphasis on Pakistan)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 29(1), pages 19-32.
    16. Muhammad Nasir & Wasim Shahid Malik, 2011. "The Contemporaneous Correlation of Structural Shocks and Inflation-Output Variability in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 50(2), pages 145-162.
    17. Whitehead, Laurence, 1990. "Political explanations of macroeconomic management: A survey," World Development, Elsevier, vol. 18(8), pages 1133-1146, August.
    18. Petra M. Geraats, 2002. "Central Bank Transparency," Economic Journal, Royal Economic Society, vol. 112(483), pages 532-565, November.
    19. Mahoney, Paul G, 2001. "The Common Law and Economic Growth: Hayek Might Be Right," The Journal of Legal Studies, University of Chicago Press, vol. 30(2), pages 503-25, Part I Ju.
    20. Ashfaque H. Khan & Mohammad Ali Qasim, 1996. "Inflation in Pakistan Revisited," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 35(4), pages 747-759.
    21. Muhammad Arshad Khan & Musleh ud Din, 2011. "A Dynamic Macroeconometric Model of Pakistan’s Economy," PIDE-Working Papers 2011:69, Pakistan Institute of Development Economics.
    22. Wasim Shahid Malik & Musleh-ud Din, 2008. "Monetary Policy Transparency in Pakistan : An Independent Analysis," Macroeconomics Working Papers 22214, East Asian Bureau of Economic Research.
    23. Sajawal Khan & Muhammad Arshad Khan, 2007. "What Determines Private Investment? The Case of Pakistan," PIDE-Working Papers 2007:36, Pakistan Institute of Development Economics.
    24. International Monetary Fund, 2010. "Pakistan; Third Review Under the Stand-By Arrangement," IMF Staff Country Reports 10/6, International Monetary Fund.
    25. John B. Taylor, 1999. "Introduction to "Monetary Policy Rules"," NBER Chapters, in: Monetary Policy Rules, pages 1-14 National Bureau of Economic Research, Inc.
    26. M. Aynul Hasan & Ashfaque H. Khan & Hafiz A. Pasha & M. Ajaz Rasheed, 1995. "What Explains the Current High Rate of Inflation in Pakistan?," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 34(4), pages 927-943.
    27. Gordon Cordina, 2004. "Economic Vulnerability And Economic Growth: Some Results From A Neo-Classical Growth Modelling Approach," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 29(2), pages 21-39, December.
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