Trade and Industrialization Policies for an Accelerated Development in Pakistan

Pakistan achieved high rates of economic growth from the mid-1970s. Growth was faciitated by the external circumstances that relaxed the balance-of-payments constraints. However, growth was not accompanied by an improved social development Moreover, as the external circumstances worsened, the underlying macro-economic imbalances emerged and the growth slowed down. The paper assesses how the domestic and international economic policies might be adjusted to attain a more sustainable pattern of development.