This paper identifies the main impediments to investment and industrial productivity in Punjab, which have led to a decline in growth. This is done by analyzing the impediments and constraints to productivity and investment using the World Bank’s 2007 Investment Climate Assessment (ICA) data...

What are the main impediments to investment and industrial productivity in Punjab which have contributed to this unprecedented decline in growth? This is done by analyzing the 2007 Investment Climate Assessment (ICA) data at the level of the seven main industrial zones of Punjab. The World Bank...

Are devaluations contractionary? This question has been with us for a long time. The conventional Keynesian economist holds the view that if devaluation is demandexpansionary, then both output and balance-of-payments will improve with devaluation. Experience, however, shows contrary outcomes....

Within the context of a small open economy model, this paper examines the repercussions of induced currency depreciation. The results presented in this paper are based on a model with firm microeconomic foundations and which takes into account both the supply and demand-side effects of exchange...

Two aspects of the problem of the unemployed educated persons are discussed in this essay. Firstly, the magnitude and incidence of the unemployment of such persons are examined. One point that becomes apparent from looking at the secondary data is that the bulk of the educated unemployed persons...

In this paper we attempt to assess the relevance of correspondence principle in determining the possible effects of currency devaluation on balance of payments and employment. We developed a model in line with Buffie (1986) who derived a very strong result that if the model is locally stable and...

This paper examines the impact of improvements in productivity on prices, output, the real wage rate and the balance of payments. Within the context of the model used in this paper, an improvement in productivity can take two alternative forms: (1) a cost saving for a given output and (2) an...

The last decade has witnessed significant influx of direct foreign investment in developing countries. The increased flow of foreign investment has contributed to the ability of developing countries to produce import competing manufactured goods by combining imported and domestically produced...