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Roles of Public Capital in Pakistan’s Economy: Productivity, Investment and Growth Analysis

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  • M. Tariq Yousuf Khan
  • Komei Sasaki

Abstract

This study analyzes the role of public capital in Pakistan’s economy, tracing the relationship between productivity of public capital and economic growth. We estimate a production function, with public capital as an inputs. The results indicate that the productivity (output elasticity) of aggregate as well as different components of public capital are sufficiently high. We also analyze substitutability and complementarity between public and private capital by estimating investment functions, revealing that public capital has worked as a substitute for private investment. The net effect of public capital on the national economy is analyzed by estimating reduced forms, with the result that public capital has a positive net effect on national product. The growth analysis shows that the contribution of public capital is declining over time.

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  • M. Tariq Yousuf Khan & Komei Sasaki, 2001. "Roles of Public Capital in Pakistan’s Economy: Productivity, Investment and Growth Analysis," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 13(2), pages 143-162, July.
    • Handle: RePEc:bla:revurb:v:13:y:2001:i:2:p:143-162
    DOI: 10.1111/1467-940X.00037
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    Cited by:

    1. Vaqar Ahmed & Ahsan Abbas & Saira Ahmed, 2013. "Public infrastructure and economic growth in Pakistan: a dynamic CGE-microsimulation analysis," Working Papers MPIA 2013-01, PEP-MPIA.
    2. Syed Ammad Ali & Qazi Masood Ahmed & Lubna Naz, 2016. "Public spending on human capital formation and economic growth in Pakistan," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 23(1), pages 1-20, June.
    3. Syed, Shabib Haider & Majeed, Muhammad Tariq, 2007. "Public Policy and Private Investment in Pakistan," MPRA Paper 57675, University Library of Munich, Germany.
    4. Merter Mert, 2017. "Public Transportation Investments And Economic Growth In Turkey," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 5(2), pages 17-35.
    5. Nadeem Ul Haque & Hanid Mukhtar & Nohman Ishtiaq & John Gray, 2020. "Doing Development Better," PIDE Books, Pakistan Institute of Development Economics, number 2020:3, December.
    6. Masood Ahmed Qazi & Syed Ammad, 2021. "Public investment efficiency and sectoral economic growth in Pakistan," Development Policy Review, Overseas Development Institute, vol. 39(3), pages 450-470, May.
    7. Nadeem Ul Haque, 2020. "Doing Taxes Better: Analysing the PSDP," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 59(1), pages 139-142.
    8. Ahmed, Vaqar & Abbas, Ahsan & Ahmed, Sofia & Zeshan, Muhammed, 2012. "Public Infrastructure and Economic Growth in Pakistan: A Dynamic CGE- microsimulation Analysis," Conference papers 332289, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    9. Afia Malik, 2013. "Private Investment And Fiscal Policy In Pakistan," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 38(1), pages 83-109, March.

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