The Pakistan Development Review
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Trade Reform, Capital Mobility, and Efficiency Wage in a Harris-Todaro Economy
Get PDFThe main purpose of this paper is to analyse the impact of
trade reform on unemployment and social welfare in a Harris-Todaro
(1970) economy with efficiency wage and capital mobility. The analysis
shows that capital mobility plays an important role to influence the
impact of trade reform on unemployment and social welfare. We find that
trade reform raises urban unemployment and produces an ambiguous effect
on social welfare when capital is perfectly mobile among the three
sectors. However, such policy lowers unemployment and raises social
welfare when capital is imperfectly mobile
Harinder S. Kohli (ed.). Growth and Development in Emerging Market Economies: International Private Capital Flows, Financial Markets and Globalisation. New Delhi: Sage Publication 2008. 369 pages. Hardbound. Indian Rs 695.00.
Get PDFThe book discusses the different experiences in Asia and Latin
America, while covering the closely related areas under the purview of
Emerging Market Economies (EMEs). The first chapter, “Introduction and
Overview” has written by Harinder S. Kohli gives an excellent review of
the existing literature on the subject. The book discusses six related
topics which include nine papers presented at the Emerging Markets Forum
Meeting held in Jakarta, Indonesia, in September 2006. The book
highlights the main factors of growth and development in Emerging Market
Economies (EMEs) now closely related with international capital flows,
development of financial market, the countries’ ability to integrate
successfully with the global economy through trade and investment and
their ability to forge public-private partnerships including
infrastructure development
Paul Cook and Sarah Mosedale (eds.). Regulation, Markets and Poverty. Cheltenham, UK: Edward Elgar, 2007. Price not given.
Get PDFMost developing countries have been pursuing structural
adjustment programmes, driven by the World Bank and the IMF, for more
than 25 years without initially recognising the importance of regulation
for economic liberalisation. Without regulation, the potential
advantages of liberalising markets were in danger of being diminished in
terms of improved efficiency and welfare. As a consequence, new forms of
regulation have been emerging that cover health, environment, industry,
employment and so on. This book examines the concepts and theories that
have driven these reforms and the particular contexts that have
influenced and conditioned them. The research presented in the book was
carried out at the Centre on Regulation and Competition (CRC),
University of Manchester, the United Kingdom, over the past five years.
It contains fourteen chapters organised in five parts: competition,
regulatory governance, regulation, capacity building and
poverty
Corruption, Trade Openness, and Environmental Quality: A Panel Data Analysis of Selected South Asian Countries
Get PDFThe second half of the twentieth century emerged with two
important concepts of the economic world. In the start of the second
half, economists, developmentalists, etc., introduced the idea of
“development”, while; latter it was replaced by a more meaningful and
attractive term “sustainable development”. Sustainable development is
defined as “balancing the fulfillment of human needs with the protection
of the natural environment so that these needs can be met not only in
the present, but also in the indefinite future” [Wikipedia (2007)]. Or
“Sustainable development means that pattern of development that permits
future generations to live at least as well as the current generation”
[Todaro and Smith (2005)], eighth edition]. The field of sustainable
development can be conceptually broken into four constituent parts:
environmental sustainability, economic sustainability, social
sustainability and political sustainability. Although, the word
sustainable development is very vast and deep, but the main emphasis of
our study will be on environmental sustainability
Valuation and Pricing of Surface Water Supplies in Pakistan
Get PDFPakistan has the largest contiguous, well-articulated, and
comprehensive irrigation system in the world, with 3 storage reservoirs,
68 small dams, 19 diversion barrages, and 45 canal commands with 12 Link
Canals for inter-basin transfer of water. About 0.1 million outlets
supply water to the farmers to irrigate land besides more than 600,000
tubewells. The whole irrigation network commands an area of 45 million
acres (18.22 Mha) out of which 79 percent is irrigated by canals or
tubewells/wells. More than half of the canal irrigated areas (58
percent) is irrigated perennially and 42 percent nonperennially [NWSR
(2002)]. The average annual flow of Indus River System is approximately
151.58 million acre feet (MAF) of which presently 103.81 MAF (128.1 BCM)
is being diverted to irrigate farm lands [NWSR (2002)]. The present live
storage capacity of the reservoirs is about 12.5 MAF (13 percent of
river flows) compared with the original capacity of 15.7 MAF. The
hydropower generation is constrained by seasonal inflows to reservoirs
and irrigation requirements by Indus River System Authority. The
generation dictated by irrigation requirements is the highest in the
months of July to October. Little more than half of the diverted flows
(55 percent) become available at farm gate, 42 percent infiltrate to
groundwater reservoir and balance 3 percent is lost as evaporation. Of
the total water that seeps down to the groundwater reservoir, including
some 27 percent of farm gate supply through field seepage, nearly 85
percent is being extracted. Groundwater owing its existence to
operational canal system, supplies over 40 percent of crop water
requirements of the countr
Digital Divide: An Econometric Study of the Determinants in Information-poor Countries
Get PDFThere can not be two opinions on the importance of Information
and Communication Technology (ICT) for economic development. However,
real disparities exist in access to and use of ICT across countries. The
digital divide is a complicated matter of varying levels of access,
basic usage, and applications of ICT among countries and peoples. Using
the Gompertz Technology Diffusion model, this paper attempts to measure
the contribution of factors such as affordability, knowledge,
infrastructure, human capital, trade openness, and economic and social
environment in the technology diffusion process, specially in the case
of information-poor countries
Myths and Realities of Long-run Development: A Look at Deeper Determinants
Get PDFIt has long been realised that factor accumulation and
technological development are only proximate causes of economic
development, and the focus has now shifted to investigating the ‘deeper
determinants’ of economic growth. Two such forces are highlighted in the
literature: institutions and geography. However, it remains
controversial as to which of these two is the more important. The
“institutions school” assigns primal importance to institutions, whereas
the “geography school” considers geographical factors as the primary
determinant of the economic performance of countries. This paper reviews
the debate surrounding these “deeper determinants” of economic
performance. It reviews the work of these two schools of thought and
their interpretation of the long-run development. The paper then
examines the evidence provided by the respective schools in favour of
their hypotheses. It concludes in favour of the Institutions hypothesis
as the Geography school does not provide a consistent story of long-run
development
The Impact of Globalisation on Economic Growth of Pakistan
Get PDFGlobalisation has diverse definitions and concepts.1
Globalisation has many facets and has a variety of social, political and
economic implications. This term introduced in early 1980, which never
precisely defined, is a frequently used word in the political economy.
It simply means growing integration of the national economies, openness
to trade, financial flows, foreign direct investment and the increasing
interaction of people in all facets of their lives. Globalisation also
implies internationalisation of production, distribution and marketing
of goods and services. International integration implies the adoption of
common policies by the individual countries. Between 1870 and 1914, the
world was integrated into a single word economy dominated by one power:
Great Britain. The government functions were limited and faced many
constraints like gold standard and lack of freedom to pursue easy
monetary policy. Later governments were burdened by performing many
functions like achievement of macroeconomic goals—full employment,
economic growth and price stability. Freedom of using macroeconomic
policies resulted in greater integration of national economies but at
the same time they led to international disintegration and
interdependence. Streeten (1998) argues that today global market forces
can lead to conflict between states, contributing to international
disintegration and weakened governance. Before 1914, the world was more
integrated than it is today but it did not prevent the First World
War
Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy
Get PDFTourism activities are considered to be one of the major
sources of economic growth. It can be regarded as a mechanism of
generating the employment as well as income in both formal and informal
sectors. Tourism supplements the foreign exchange earnings derived from
trade in commodities and some times finance the import of capital goods
necessary for the growth of manufacturing sectors in the economy. On the
other hand rapid economic growth in the developed economies attracts
foreign travels (Business travels), which leads to an increase in the
foreign reserve of the country. Over the past several decades,
international tourism has been gaining importance in many economies of
the world. According to the World Tourism Organisation (2002),
expenditures by 693 million international tourists traveling in 2001
totaled US 1.3 billion per day worldwide. In
addition, tourists spending have served as an alternative form of
exports, contributing to an ameliorated balance of payments through
foreign exchange earnings in many countries. The rapid growth of tourism
led to a growth of household incomes and government revenues directly
and indirectly by means of multiplier effects, improving balance of
payments and provoking tourism-promoted government policies. As a
result, the development of tourism has generally been considered a
positive contribution to economic growth
