This paper presents a theoretical model with micro-foundations that captures some important features of Pakistan's economy which have emerged in sixty-four years of its history. A comparison of Pakistan’s economic performance during different regimes shows that macroeconomic fundamentals tend...

This study attempts to evaluate exporters’ perceptions of the problems they face in exploiting their full competitive potential in the international market. Using firm-level survey data, we find that a shortage of skilled labor, the energy crisis, institutional rigidities, market...

This paper develops an open economy dynamic stochastic general equilibrium (DSGE) model based on New-Keynesian micro-foundations. Alongside standard features of emerging economies, such as a combination of producer and local currency pricing for exporters, foreign capital inflow in terms of...

The paper presents an analysis of the entire data generated by the Household Income and Expenditure Surveys from 1963-64 to 1984-85. Using appropriate econometric techniques tests are conducted to determine the possibility of pooling rural and urban data to get overall estimates for different...

This paper examines the determinants of private, domestic, and household savings in Pakistan. The analysis shows that private savings can be expected to grow gradually as a result of rising per capita income, falling dependency burden, improved financial deepening, and macro stability. Bivariate...

Credit plays an important role in acquiring command over the use of working capital, fixed capital, and consumption goods that leads to growth and development of a country. The paper investigates that the role of non-institutional sources is quite clearly borne out. The price paid for...

We focus on the management of highly persistent shocks to aid flows, including HIPC or MDG-related increases in net flows, in the presence of currency substitution by the domestic private sector. Such shocks have beneficent long-run effects, but when currency substitution is high they can...

[Extract] Many studies have appeared, in both English and Chinese, focusing on income distribution in rural China1. They point to a worsening trend since the late 1970s when China initiated economic reforms. Such a trend has serious implications for China's ability to maintain sustainable growth...