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Financial Repression, Financial Development and Structure of Savings in Pakistan

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  • ASHFAQUE H. KHAN

    (Pakistan Institute of Development Economics, Islamabad.)

Abstract

The mobilization of domestic resources is one of the key determinants of sustained economic growth. Improving demestic resource mobilization involves raising the level of national savings to enable a higher level of investment, hence a faster rate of economic growth. Pakistan's saving performance and its overall economic performance appear to be incongruous. Over the past several years, Pakistan has maintained an economic growth of more than 6 percent which is laudable, but her performance with regard to savings has been' poor. In fact, saving as a fraction of the Gross National Product (Gp,IP) is one of the lowest among the developing countries. The current saving rate of about 14 percent of GNP fares badly with 23 percent for other low-income developing countries.1 What are the reasons for such a poor performance of savings in Pakistan? This paper attempts to provide some explanations for the causes of low savings in Pakistan.

Suggested Citation

  • Ashfaque H. Khan, 1988. "Financial Repression, Financial Development and Structure of Savings in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 27(4), pages 701-713.
    • Handle: RePEc:pid:journl:v:27:y:1988:i:4:p:701-713
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    File URL: http://www.pide.org.pk/pdf/PDR/1988/Volume4/701-713.pdf
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    Cited by:

    1. Kunofiwa Tsaurai, 2017. "Savings Mobilization and Financial Development during the Multicurrency Regime Period in Zimbabwe," Journal of Economics and Behavioral Studies, AMH International, vol. 9(3), pages 152-162.
    2. Mehboob Ahmad & Tasneem Asghar, 2004. "Estimation of Saving Behaviour in Pakistan Using Micro Data," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 9(2), pages 73-92, Jul-Dec.
    3. Ismail, Aisha & Rashid, Kashif, 2013. "Determinants of household saving: Cointegrated evidence from Pakistan (1975–2011)," Economic Modelling, Elsevier, vol. 32(C), pages 524-531.
    4. Sarfraz Khan Qureshi & Musleh Ud Din & Ejaz Ghani & Kalbe Abbas, 1999. "Domestic Resource Mobilisation for Development: An Analysis for the Past Trends and Future Options," PIDE Research Report 1999:167, Pakistan Institute of Development Economics.
    5. Nadeem A. Burney & Ashfaque H. Khan, 1992. "Socio-economic Characteristics and Household Savings: An Analysis of the Households' Saving Behaviour in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 31(1), pages 31-48.

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