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Inflation And Growth An Analysis Of Recent Trends In Pakistan

Author

Listed:
  • Syed Nawab Haider Naqvi

    (Pakistan Institute of Development Economics, Islamabad.)

  • Ashfaque H. Khan

Abstract

Inflation in Pakistan has once again crossed the single digit threshold during the� Eighties. It declined continuously from 11.9 percent in 1980-81 to 4.8 percent in 1986-87;but it has been rising since 1987-88. The PIDE�s Macroeconometric Model predicts an inflation rate of 10. 7 percent for the year 1989-90. The focus of policy-making has, therefore, shifted to controlling the rate of inflation. One may begin by asking; what has caused the recent upsurge in the price level? The large budgetary deficits, associated with an increase in money supply at a rate of 12.2 percent during 1987-88, have been cited as the main culprits. Such a belief seems to underlie the IMF policy package, which advocates that to fight inflation the budgetary deficit should be slashed from the all-time high level of 8.6 percent of the� GDP reached in 1987-88 to 4.8 percent of the GDP by the year 1990-91; and that the growth rate of bank credit should be held down below the growth rate of the nominal GDP at the target inflation rate till the � year 1990-91.

Suggested Citation

  • Syed Nawab Haider Naqvi & Ashfaque H. Khan, 1989. "Inflation And Growth An Analysis Of Recent Trends In Pakistan," PIDE Books, Pakistan Institute of Development Economics, number 1989:1, December.
    • Handle: RePEc:pid:pbooks:1989:1
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    File URL: https://file.pide.org.pk/pdfpideresearch/book-08-inflation-and-growth-an-analysis-of-recent-trends-in-pakistan.pdf
    File Function: First Version, 1989
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    Citations

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    Cited by:

    1. Attiya Y. Javid & Muhammad Javid & Umiama Arif, 2010. "Fiscal Policy and Current Account Dynamics in the Case of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 49(4), pages 577-592.
    2. Mehak Moazam & M. Ali Kemal, 2016. "Inflation in Pakistan: Money or Oil Prices," Working Papers id:11507, eSocialSciences.
    3. Jaganath Behera & Alok Kumar Mishra, 2017. "The Recent Inflation Crisis and Long-run Economic Growth in India: An Empirical Survey of Threshold Level of Inflation," South Asian Journal of Macroeconomics and Public Finance, , vol. 6(1), pages 105-132, June.
    4. Tayyeb Shabbir & Riaz Mahmood, 1991. "Structural Change in the Import Demand Function for Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 30(4), pages 1159-1168.
    5. M. Ali Kemal, 2006. "Is Inflation in Pakistan a Monetary Phenomenon?," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(2), pages 213-220.
    6. William E. James & Seiji Naya, 1990. "Trade and Industrialization Policies for an Accelerated Development in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 29(3 and 4), pages 201-222.

    More about this item

    Keywords

    Growth; Inflation; Trends;
    All these keywords.

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