Financing Economic Development in Pakistan

A. H. M. Nuruddin Chowdhury
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A. H. M. Nuruddin Chowdhury: Pakistan Institute of Development Economics

Chapter 16 in Economic Development in South Asia, 1970, pp 299-323 from Palgrave Macmillan

Abstract: Abstract For a proper understanding of the issues involved, the strategy of financing economic development in Pakistan needs to be analysed in the context of its peculiar socio-economic environment. In this paper we first recount the nature of the traditional economy of Pakistan at the time of independence. Secondly, we spell out the development strategy adopted and its possible rationale. Thirdly, we point out the benefits and adverse effects of the present strategy. Fourthly, we suggest that the present strategy has become anachronistic owing to developments in the Pakistan economy. Finally, we specify an alternative policy-mix that should replace the present strategy to create a milieu conducive to the growth of financial intermediaries, mobilisation of domestic saving, inflow of foreign capital and increase in the real return on investment.

Keywords: Financial Asset; Foreign Bank; Income Transfer; Domestic Saving; Traditional Export (search for similar items in EconPapers)
Date: 1970
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-00964-0_16

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DOI: 10.1007/978-1-349-00964-0_16

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