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Pakistan, Growth, Dependency, and Crisis

Author

Listed:
  • Matthew McCartney

    (School of Oriental and African Studies (SOAS), University of London.)

Abstract

Compared to the historical and even contemporary experience of India, Pakistan has long been regarded as a “dependent” economy. Gross domestic product growth in Pakistan is typically argued to be contingent on external factors: trade, financial flows, and the interdependence of asset markets. Beyond the rhetoric, there is only ambiguous and contradictory empirical evidence to support this view. This paper offers a new methodology, that of case studies of growth and stagnation, to test the hypothesis of dependency. The results show that growth in Pakistan is influenced by external factors, but that growth is driven primarily by the dynamics of the domestic economy.

Suggested Citation

  • Matthew McCartney, 2011. "Pakistan, Growth, Dependency, and Crisis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(Special E), pages 71-94, September.
    • Handle: RePEc:lje:journl:v:16:y:2011:i:sp:p:71-94
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    References listed on IDEAS

    as
    1. Kevin J. Stiroh, 2002. "Information Technology and the U.S. Productivity Revival: What Do the Industry Data Say?," American Economic Review, American Economic Association, vol. 92(5), pages 1559-1576, December.
    2. Burki, Javed, 2007. "Changing Perceptions, Altered Reality: Pakistan's Economy under Musharraf, 1999-2006," OUP Catalogue, Oxford University Press, number 9780195475074, Decembrie.
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    Cited by:

    1. Younis, Fizza & Chaudhary, Aslam & Akbar, Muhammad, 2015. "Pattern of Development and Sustainable Economic Growth In Pakistan: A Descriptive Analysis," MPRA Paper 71473, University Library of Munich, Germany.
    2. Faqeer Muhammad & Anwar Khan & Jamal Hussain & Tasawar Baig & Saadia Baig, 2024. "Influence of Military Expenditures, Industrial Growth, and Financial Development on Economic Growth, and Environment in Heterogeneous Political Regimes in Pakistan," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2439-2459, March.

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    More about this item

    Keywords

    Economic Growth; Dependency; Crisis; Pakistan.;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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