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The Economics Profession in Pakistan: A Historical Analysis

Author

Listed:
  • Nadeem Ul Haque

    (International Monetary Fund, Washington, D. C.)

  • Mahmood Hasan Khan

    (Department of Economics, Simon Fraser University, Burnaby, B.C., Canada.)

Abstract

Economics is a policy science: its claim is to describe policies that can improve peoples' lives. Its usefulness for policymaking, therefore, depends on how well economists understand and interpret economic behaviour. In other words, successful economic policy entails a good understanding of the dynamics of economic change. In turn, a model of economic change requires analysis of institutions and organisations in the society. Institutions are the informal conventions (customs) and formal rules by which the members of a society organise the production and distribution of goods and services. Organisations are the players in the economy, including the state (executive, legislature and judiciary), private businesses (profit-seeking individuals and corporate entities), and private non-profit associations (NGOs, professional groups and bodies). Both institutions and organisations change with the evolution of each society and economy. Much as economists disagree on the underlying assumptions and interpretation of "facts" about economic change, they have a broad agreement that the discipline of economics must be embedded in the study of interactions between institutions and organisations.

Suggested Citation

  • 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.
    • Handle: RePEc:pid:journl:v:37:y:1998:i:4:p:431-452
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    File URL: http://www.pide.org.pk/pdf/PDR/1998/Volume4/431-452.pdf
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    References listed on IDEAS

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    1. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-368, June.
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    Cited by:

    1. Nadeem Ul Haque, 2007. "Why Civil Service Reforms Do Not Work," Labor Economics Working Papers 22192, East Asian Bureau of Economic Research.
    2. 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.
    3. Nadeem Ul Haque, 2007. "Why Civil Service Reforms Do Not Work," PIDE-Working Papers 2007:24, Pakistan Institute of Development Economics.

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