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Public Policy Fundamentals for Sustainable and Inclusive Growth

Author

Listed:
  • Ijaz Nabi

    (Sector Manager, Economic Policy, South Asia Region, World Bank, Washington DC, USA.)

Abstract

Pakistan has seen strong economic growth in recent years accompanied by a reduction in poverty. However, growth has been concentrated, which has meant that regional and inter-personal disparities are on the rise. In a contestable political environment, this casts a shadow on the sustainability of high growth. The budget, a corrective instrument, has been subject to boom and bust cycles because of rigid claims, poor tax effort and external shocks, rendering it ineffective in addressing long term priorities. This paper argues that robust budgets for sustained and inclusive growth require government programs to be credible (monitoring and evaluation and public information) and cost effective (streamlined budget cycle, public-private partnerships); this will help increase citizen willingness to pay for public programs via improved tax compliance.

Suggested Citation

  • Ijaz Nabi, 2008. "Public Policy Fundamentals for Sustainable and Inclusive Growth," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 13(Special E), pages 95-116, September.
    • Handle: RePEc:lje:journl:v:13:y:2008:i:sp:p:95-116
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    References listed on IDEAS

    as
    1. Herrera, Santiago & Pang, Gaobo, 2005. "Efficiency of public spending in developing countries : an efficiency frontier approach," Policy Research Working Paper Series 3645, The World Bank.
    2. World Bank, 2007. "Pakistan : Infrastructure Implementation Capacity Assessment," World Bank Publications - Reports 7671, The World Bank Group.
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    More about this item

    Keywords

    Pakistan; Budget; Growth;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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