Pro-business and pro-market reforms in Pakistan: economic growth and stagnation 1950–51 to 2011–12

Grace Kite and Matthew McCartney

Journal of the Asia Pacific Economy, 2017, vol. 22, issue 3, 454-476

Abstract: This paper uses a new method to analyse the causes of growth and stagnation in Pakistan between 1950–51 and 2011–12. It provides support for the argument that pro-business reforms have been an important driver of Pakistan's economic growth. This result holds across two episodes of growth and one episode of stagnation. These findings lead to a clear policy implication: if Pakistan is to return to fast growth, policy needs to move away from pro-market reforms, learn these lessons of history, and promote the profitability of business to incentivise private investment and so boost economic growth.

Date: 2017
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DOI: 10.1080/13547860.2017.1287827

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