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Beyond Planning and Mercantilism: An Evaluation of Pakistan’s Growth Strategy

Author

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  • Nadeem Ul Haque

    (Pakistan Institute of Development Economics, Islamabad.)

Abstract
Through the nineties Pakistan remained preoccupied with crisis management. All debate and policy was, as a result, involved with current policy and our coping with the IMF programmes. Adjustment was the main theme leaving little room for growth initiatives.1 A lively debate has raged on the distributional impacts of adjustment policy on which the government and the thinking community have adopted opposing stances, often with much emotion. With this focus of economic and political discussion on critiquing of the current government and its policies, there has been little effort put in understanding and reviewing the country’s growth strategy. This paper attempts to assess the evolution of Pakistan’s long-term growth strategy.2 It is my contention that the growth strategy remains inertia-ridden because of the lack of an academic community and debate.3 The paper will also attempt to identify the actors who influence and shape this strategy. This will be followed by what changes should be made in that strategy, based on more recent developments in economic thinking and experience in the world. For long-run sustained growth that will lead us to join the club of the more advanced countries, a new strategy based on the latest research findings will be needed. Finally, I shall point to the factors that impede the adoption of such a strategy, and especially to our owning such a strategy.

Suggested Citation

  • Nadeem Ul Haque, 2006. "Beyond Planning and Mercantilism: An Evaluation of Pakistan’s Growth Strategy," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(1), pages 3-48.
    • Handle: RePEc:pid:journl:v:45:y:2006:i:1:p:3-48
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    File URL: http://www.pide.org.pk/pdf/PDR/2006/Volume1/3-48.pdf
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    References listed on IDEAS

    as
    1. Ross Levine, 1990. "Financial structure and economic development," International Finance Discussion Papers 381, Board of Governors of the Federal Reserve System (U.S.).
    2. Sen, Amartya, 2001. "Development as Freedom," OUP Catalogue, Oxford University Press, number 9780192893307.
    3. Philippe Aghion, 2005. "Growth and Institutions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 32(1), pages 3-18, March.
    4. Nadeem Ul Haque, 1998. "Issues in the Designing of Public Sector Reform," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 299-327.
    5. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    6. Asli Demirguc-Kunt & Ross Levine (ed.), 2004. "Financial Structure and Economic Growth: A Cross-Country Comparison of Banks, Markets, and Development," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262541793, April.
    7. Deepak Lal, 1993. "Poverty and Development," UCLA Economics Working Papers 707, UCLA Department of Economics.
    8. Ranis, Gustav, 2004. "The Evolution of Development Thinking: Theory and Policy," Center Discussion Papers 28528, Yale University, Economic Growth Center.
    9. McCloskey, Donald N., 1991. "The Prudent Peasant: New Findings on Open Fields," The Journal of Economic History, Cambridge University Press, vol. 51(2), pages 343-355, June.
    10. Gustav Ranis, 2004. "The Evolution of Development Thinking: Theory and Policy," Working Papers 886, Economic Growth Center, Yale University.
    11. Nadeem Ul Haque & Mahmood Hasan Khan, 1998. "The Economics Profession in Pakistan: A Historical Analysis," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 431-452.
    12. Nadeem Ul Haque & Ratna Sahay, 1996. "Do Government Wage Cuts Close Budget Deficits? Costs of Corruption," IMF Staff Papers, Palgrave Macmillan, vol. 43(4), pages 754-778, December.
    13. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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    Cited by:

    1. Durr-e-Nayab, 2008. "Demographic Dividend or Demographic Threat in Pakistan?," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 47(1), pages 1-26.
    2. Nadeem Ul Haque & Durr-e-Nayab, 2022. "Pakistan Opportunity To Excel: Now And The Future," PIDE Monograph Series 2022:1, Pakistan Institute of Development Economics.
    3. Nadeem Ul Haque, 2006. "Awake the Sleeper Within : Releasing the Energy of Stifled Domestic Commerce!," Trade Working Papers 22189, East Asian Bureau of Economic Research.
    4. Rasta-Pide, 2023. "The State Of Commerce In Pakistan: International & Domestic," PIDE Research Report 2023:15, Pakistan Institute of Development Economics.

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    More about this item

    Keywords

    Economic Growth;

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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