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Pattern of Development and Sustainable Economic Growth In Pakistan: A Descriptive Analysis

Author

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  • Younis, Fizza
  • Chaudhary, Aslam
  • Akbar, Muhammad

Abstract

Economic growth and development in Pakistan has always been erratic. This study attempts to examine possible causes and ramifications arising as a result. Major macroeconomic, social and environmental variables are examined using data from 1950 to 2013 and policy implications are chalked out. Literature shows that low savings and investment rates, budget deficit, institutional shortcomings, lack of human development and environmental degradation remains some of the major issues faced by the country. These factors together along with bad governance are considered as the major cause of unsustainable development. The descriptive analysis of the growth rates and averages of selected variables is conducted to study the pattern of economic growth and development. The study reveals that Pakistan has experienced unsustainable economic growth since its birth. Savings and investment has remained low and there is persistence of fiscal deficit. Furthermore trade deficit worsens the balance of payment situation. Investment in infrastructure, especially social infrastructure is inadequate and, hence human development is neglected. In addition, there is environmental degradation. Thus there is need for policies that encompass economic, social and environmental sectors. In other words policies should aim at achieving sustainable development.

Suggested Citation

  • Younis, Fizza & Chaudhary, Aslam & Akbar, Muhammad, 2015. "Pattern of Development and Sustainable Economic Growth In Pakistan: A Descriptive Analysis," MPRA Paper 71473, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:71473
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    References listed on IDEAS

    as
    1. Berg, Andrew & Ostry, Jonathan D. & Zettelmeyer, Jeromin, 2012. "What makes growth sustained?," Journal of Development Economics, Elsevier, vol. 98(2), pages 149-166.
    2. Muhammad Farooq Arby & Muhammad Jahanzeb Malik & Muhammad Nadim Hanif, 2010. "The Size of Informal Economy in Pakistan," Working Papers id:2493, eSocialSciences.
    3. Muhammad Shahbaz & Khalil Ahmad & A. R. Chaudhary, 2008. "Economic Growth and Its Determinants in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 47(4), pages 471-486.
    4. Matthew McCartney, 2011. "Pakistan, Growth, Dependency, and Crisis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(Special E), pages 71-94, September.
    5. Chani, Muhammad Irfan & Pervaiz, Zahid & Jan, Sajjad Ahmad & Ali, Amjad & Chaudhary, Amatul R., 2011. "Poverty, inflation and economic growth: empirical evidence from Pakistan," MPRA Paper 34290, University Library of Munich, Germany, revised 2011.
    6. Abdul Qayyum & Idrees Khawaja & Asma Hyder, 2008. "Growth Diagnostics in Pakistan," PIDE-Working Papers 2008:47, Pakistan Institute of Development Economics.
    7. Alam, Shaista & Fatima, Ambreen & Butt, Muhammad S., 2007. "Sustainable development in Pakistan in the context of energy consumption demand and environmental degradation," Journal of Asian Economics, Elsevier, vol. 18(5), pages 825-837, October.
    8. Nourry, Myriam, 2008. "Measuring sustainable development: Some empirical evidence for France from eight alternative indicators," Ecological Economics, Elsevier, vol. 67(3), pages 441-456, October.
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    Cited by:

    1. OlaOluwa S. Yaya & Fumitaka Furuoka & Kiew Ling Pui & Ray Ikechukwu Jacob & Chinyere M. Ezeoke, 2020. "Investigating Asian regional income convergence using Fourier Unit Root test with Break," International Economics, CEPII research center, issue 161, pages 120-129.

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    More about this item

    Keywords

    Data analysis; Economy in retrospect; Pakistan economy; Pattern of development; Sustainable growth.;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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