Toward a Heterodox Approach: Reconciling Stabilization and Economic Growth in Pakistan

Irfan ul Haque () and Sahar Amjad ()
Additional contact information
Irfan ul Haque: Special Advisor, Financing for Development, South Centre, Geneva.
Sahar Amjad: Lahore School of Economics, Pakistan.

Lahore Journal of Economics, 2012, vol. 17, issue Special Edition, 1-32

Abstract: This article attempts to show that a strategy for accelerated growth for Pakistan is both necessary and feasible. Pakistan’s macroeconomic conditions are broadly similar to some of its more rapidly growing neighbors. The country’s macroeconomic imbalances and inflation need to be brought down, but the required adjustment does not entail precipitate action, which could further depress the economy. We develop a “Heterodox Scenario,” which shows that macroeconomic adjustments can be phased in over the next few years and will be easier to make if the economy were to grow more rapidly. For accelerated growth to materialize, as a minimum, determined steps are needed to overcome the energy crisis, sharply raise the investment rate—particularly, private investment—and strengthen Pakistan’s competitiveness in the world market. A national strategy is needed toward that end.

Keywords: Growth; inflation; economy; strategy; Pakistan. (search for similar items in EconPapers)
JEL-codes: E22 O10 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://121.52.153.179/JOURNAL/LJE_Vol_17-SE_PDF/01 ... tc%20AAC01102012.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lje:journl:v:17:y:2012:i:sp:p:1-32

Access Statistics for this article

More articles in Lahore Journal of Economics from Department of Economics, The Lahore School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Shahid Salahuddin ().