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Democracy, Autocracy and Macroeconomic Performance in Pakistan

  • Iqbal, Nasir
  • Khan, Sardar Javaid Iqbal
  • Irfan, Muhammad

Pakistan showed a healthy growth rate of 5.6 percent during the entire history and faced many ups and down in the economic growth due to dramatic changes in the political regimes. The literature shows mixed results regarding the impact of autocracy or democracy on economic growth. The aggregate growth of the economy under the autocracy remained better as compared to democratic period. Financial Indicators show consistent path through out the history of Pakistan. Different trade policies are designed in different regime to run the external sector and the impact of each policy was different.

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File URL: http://mpra.ub.uni-muenchen.de/28122/1/MPRA_paper_28122.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 28122.

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Date of creation: 2008
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Publication status: Published in Kashmir Economic Review 1.XVII(2008): pp. 61-88
Handle: RePEc:pra:mprapa:28122
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  1. Robert J. Barro & David B. Gordon, 1983. "Rules, Discretion and Reputation in a Model of Monetary Policy," NBER Working Papers 1079, National Bureau of Economic Research, Inc.
  2. Persson, T. & Tabellini, G., 1993. "Is Inequality Harmful for Growth," Papers 537, Stockholm - International Economic Studies.
  3. Adam Przeworski & Fernando Limongi, 1993. "Political Regimes and Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 51-69, Summer.
  4. Brunetti, Aymo, 1998. "Policy volatility and economic growth: A comparative, empirical analysis," European Journal of Political Economy, Elsevier, vol. 14(1), pages 35-52, February.
  5. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1395-1424, December.
  6. Nordhaus, William D, 1975. "The Political Business Cycle," Review of Economic Studies, Wiley Blackwell, vol. 42(2), pages 169-90, April.
  7. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
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