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Opportunities and Challenges for Pakistan in an Era of Globalisation

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  • Umer Khalid

Abstract

The study analyses the degree of integration of Pakistan’s economy in global trade and financial flows. Pakistan’s integration into the global economy gained momentum in the late 1980s and early 1990s when it adopted more open and liberal policies as part of stabilisation and structural adjustment programmes negotiated withthe IMF and World Bank. The paper presents an overview of Pakistan’s economy in the before and after period, it will specifically examine the trade performance from the 1980s onwards to see the progress made towards the integration of the Pakistani economy into the world economy. It will look into the opportunities that Pakistan is likely to gain in a more globalised world, with special focus on the textile and clothing sector and the potential growth in this sector after the abolition of the Multi Fibre Arrangement (MFA) in 2005. New challenges that may emerge in a more open trading environment will also be discussed.

Suggested Citation

  • Umer Khalid, 2003. "Opportunities and Challenges for Pakistan in an Era of Globalisation," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 8(1), pages 45-63, Jan-June.
    • Handle: RePEc:lje:journl:v:8:y:2003:i:1:p:45-63
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    1. Musleh-Ud Din & Kalbe Abbas, 2000. "The Uruguay Round Agreement and Pakistan's Trade in Textiles and Clothing," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 1(1), pages 101-115, March.
    2. David Dollar & Aart Kraay, 2004. "Trade, Growth, and Poverty," Economic Journal, Royal Economic Society, vol. 114(493), pages 22-49, February.
    3. Afia Malik, 2000. "Demand for Textile and Clothing Exports of Pakistan," PIDE Research Report 2000:4, Pakistan Institute of Development Economics.
    4. Zafar Mahmood, 1998. "WTO and Pakistan: Opportunities and Policy Challenges," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 687-701.
    5. Low, Patrick & Yeats, Alexander, 1994. "Nontariff measures and developing countries : has the Uruguay Round leveled the playing field?," Policy Research Working Paper Series 1353, The World Bank.
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