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STRUCTURE OF PUBLIC FINANCES: Historical Perspectives and Future Prospects

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  • Qazi Masood AHMED

Abstract

In developing countries fiscal policy is designed to increase economic growth, to reduce inflation and budget deficit. The international comparison of performance of macroeconomic variables shows that the performance of Pakistan’s fiscal policy has been satisfactory over the last thirty years in achieving economic growth and maintaining a low price level. However, fiscal policy conspicuously failed to keep the level of budget deficit at manageable levels. During the last decade the government has started implementing suggestions of the IMF/World Bank for Tax Reforms. This paper shows that if the trend of existing reforms is not altered altogether, the advantages of fiscal policy regarding economic growth and inflation will disappear which might damage the economic plan of the government for the year 2010.

Suggested Citation

  • Qazi Masood AHMED, 1998. "STRUCTURE OF PUBLIC FINANCES: Historical Perspectives and Future Prospects," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 14, pages 89-105.
    • Handle: RePEc:pje:journl:article1998ii
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    File URL: http://aerc.edu.pk/wp-content/uploads/2017/02/Structure-of-Public-Finance-4th-paper-page-89-105-1.pdf
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    Cited by:

    1. Muhammad Azeem Qureshi, 2009. "Human development, public expenditure and economic growth: a system dynamics approach," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 36(1/2), pages 93-104, January.
    2. Muhammad Azeem Qureshi, 2008. "Challenging trickle‐down approach," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 35(4), pages 269-282, March.

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