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A Complete Set of Shadow Prices for Pakistan:Illustrations for 1975-76



    (Economics Research Centre, University of Warwick)


    (London School of Economics)


    (Nicholas Stern is Professor of Economics at the London School of Economics.)


A consistent set of economy-wide shadow prices for Pakistan is presented, based on input- utput flows for the mid-1970s. This provides broad parameters for policy at the sectoral level, with indications as to which sectors should be encouraged under alternative assumptions concerning the behaviour of factor markets. Further, these parameters are useful as inputs for project evaluation. A number of agricultural and manufacturing sectors are identified as being socially profitable. Finally, the shadow prices will be taken as parameters in a tax reform exercise.

Suggested Citation

  • EHTlSHAM AHMAD & DAVID COADY & NICHOLAS STERN, 1988. "A Complete Set of Shadow Prices for Pakistan:Illustrations for 1975-76," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 27(1), pages 7-43.
  • Handle: RePEc:pid:journl:v:27:y:1988:i:1:p:7-43

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    References listed on IDEAS

    1. Ahmad, Ehtisham & Stern, Nicholas, 1984. "The theory of reform and indian indirect taxes," Journal of Public Economics, Elsevier, vol. 25(3), pages 259-298, December.
    2. P. Diamond & J. Mirrlees, 1976. "Private Constant Returns and Public Shadow Prices," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 41-47.
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    Cited by:

    1. Jean Dreze & David Coady, 2010. "Commodity Taxation and Social Welfare : The Generalised Ramsey Rule," Working Papers id:2936, eSocialSciences.

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