EVALUATING THE EFFECTIVENESS OF STRUCTURAL ADJUSTMENT POLICIES ON MACROECONOMIC PERFORMANCE: A Review of tho Evidence with Special Reference to Pakistan

Mark McGillivray, Howard White and Afzal Ahmad*

Pakistan Journal of Applied Economics, 1995, vol. 11, 57-76

Abstract: This paper looks at the impact of structural adjustment on the macroeconomic performance of Pakistan. After a brief description of the broad characteristics of the various policies implemented under Pakistan's 19805 adjustment programme, it provides a methodological review of pre-existing studies of the effects of adjustment on macroeconomic performance in Pakistan. A number of methodological shortcomings of the methods used are identified, including the problem of controlling for non-adjustment factors. An alternative analysis is then proposed, which involves simulating an error correction model using time series data for inflation and investment. Model simulations based on a number of alternative scenarios suggest that adjustment has had a negligible indirect effect, if any, on investment. Inflation would on average have been higher in the absence of adjustment, though this difference has diminished in recent years.

Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://aerc.edu.pk/wp-content/uploads/2017/02/4th-Paper-Page-57-76c-1.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:pje:journl:article1995viii

Access Statistics for this article

More articles in Pakistan Journal of Applied Economics from Applied Economics Research Centre Contact information at EDIRC.
Bibliographic data for series maintained by Samina Khalil ( this e-mail address is bad, please contact ).