Institutional Change, Growth, and Poverty Levels in Pakistan

Abdul Razzaq Kemal

The Pakistan Development Review, 2003, vol. 42, issue 4, 299-311

Abstract: It is now well-recognised that institutions matter in the growth process both directly and indirectly. Well-functioning institutions lead to higher investment levels, better policies, increase in social capital stock of a community, and better management of ethnic diversity and conflicts [see for example North (1990, 1994); Jutting (2003); Rodrik, et al. (2002); Dollar and Kray (2002); World Bank (2002); Aron (2000); Chu (2001) and Frischtak (1995)]. That the decay of institutions has led to poor governance—and the urgent need for improved governance in Pakistan particularly—has been well-documented in DRI/McGraw-Hill (1998); Pakistan (1999) and Hassan (2002). Transparent, participatory, and efficient working of institutions ensures correct priorities and appropriate policies; their effective and efficient implementation results in high growth, better income distribution, and alleviation of poverty

Date: 2003
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