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Pakistan’s Growth Spurts and Reversals: A Historical Perspective

Author

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  • Rashid Amjad

    (The author is Professor of Economics and Director, Graduate Institute of Development Studies, Lahore School of Economics. He has served as vice-chancellor Pakistan Institute of Development Economics (PIDE).)

Abstract

This paper takes a historical perspective to search for the major causes of Pakistan’s stop-go growth cycles and come to the conclusion that, to varying degrees, the foreign exchange constraint provides a major explanation for these cycles of irregular economic growth in the country, particularly since the 1990s.

Suggested Citation

  • Rashid Amjad, 2014. "Pakistan’s Growth Spurts and Reversals: A Historical Perspective," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 19(Special E), pages 91-104, September.
    • Handle: RePEc:lje:journl:v:19:y:2014:i:sp:p:91-104
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    References listed on IDEAS

    as
    1. Amjad,Rashid, 2008. "Private Industrial Investment in Pakistan," Cambridge Books, Cambridge University Press, number 9780521053617.
    2. M. Ali Kemal & Ahmed Waqar Qasim, 2012. "Precise Estimates of the Unrecorded Economy," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 51(4), pages 505-516.
    3. Zafar Iqbal, 1995. "Constraints to the Economic Growth of Pakistan: A Three-gap Approach," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 34(4), pages 1119-1133.
    4. Durr-e-Nayab, 2011. "Estimating the Middle Class in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 50(1), pages 1-28.
    5. Rashid Amjad, 2012. "Stagflation, the Labor Market Impact, and the Poverty Puzzle in Pakistan: A Preliminary Analysis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 17(Special E), pages 51-71, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Khalil Hamdani, 2014. "Foreign Direct Investment and Technological Capabilities: The Relevance of the East Asian Experience for Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 19(Special E), pages 267-281, September.
    2. Rahman, Abdul & Khan, Muhammad Arshad & Charfeddine, Lanouar, 2021. "Regime-specific impact of financial reforms on economic growth in Pakistan," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 161-182.
    3. Abdul Rahman & Muhammad Arshad Khan & Lanouar Charfeddine, 2020. "Does Financial Sector Promote Economic Growth in Pakistan? Empirical Evidences From Markov Switching Model," SAGE Open, , vol. 10(4), pages 21582440209, October.

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    More about this item

    Keywords

    Pakistan; macroeconomic management; foreign exchange; IMF;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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