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Financing Economic Development in Pakistan

In: Economic Development in South Asia

Author

Listed:
  • A. H. M. Nuruddin Chowdhury

    (Pakistan Institute of Development Economics)

Abstract

For a proper understanding of the issues involved, the strategy of financing economic development in Pakistan needs to be analysed in the context of its peculiar socio-economic environment. In this paper we first recount the nature of the traditional economy of Pakistan at the time of independence. Secondly, we spell out the development strategy adopted and its possible rationale. Thirdly, we point out the benefits and adverse effects of the present strategy. Fourthly, we suggest that the present strategy has become anachronistic owing to developments in the Pakistan economy. Finally, we specify an alternative policy-mix that should replace the present strategy to create a milieu conducive to the growth of financial intermediaries, mobilisation of domestic saving, inflow of foreign capital and increase in the real return on investment.

Suggested Citation

  • A. H. M. Nuruddin Chowdhury, 1970. "Financing Economic Development in Pakistan," International Economic Association Series, in: E. A. G. Robinson & Michael Kidron (ed.), Economic Development in South Asia, chapter 16, pages 299-323, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-00964-0_16
    DOI: 10.1007/978-1-349-00964-0_16
    as

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