The Pakistan Development Review
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The Primary Sectors of the Economy and the Dutch Disease in Nigeria
Get PDFThis study examines whether the Dutch Disease—a resource boom
leading to the decline of the erstwhile tradable sector—is present in
Nigeria in the light of the rejection of the Dutch Disease thesis in
other studies on Nigeria. Quarterly data for our variables of interest
were predominantly sourced from the International Financial Statistics
of the IMF. The data are analysed through the use of vector
autoregressive (VAR) modelling consisting of impulse response functions
and variance decomposition analyses. Our results show that the Dutch
Disease was diagnosed, albeit, as a delayed occurrence. This suggests
that the government should lay more emphasis on the agricultural sector
hitherto not given deserved attention
Efficiency Wage Hypothesis—The Case of Pakistan
Get PDFThe goal of this section is to point out the observed
difficulties with the classical/neoclassical theory of labour markets.
According to classical and neoclassical economics, the labour market is
a market like any other market. The equilibrium wage is determined by
the intersection of the supply and demand for labour
The Northern Immigration Policy in a North-South Economy Model
Get PDFWooton (1985) considered the immigration into Findlay (1980)’s
North-South model and examined how the north’s relaxation of immigration
policy influences income in both regions. Based on Wooton (1985), this
paper has performed the same analysis assuming there to be a complete
capital mobility between the north and the south. The major findings are
as follows: In the long-run, the relaxation of the north’s immigration
policy does not affect the per capita income of both the northern labour
and immigrant workers. When the north practises a discriminative
redistribution policy against the immigrant workers, the per capita
income in the north will increase because redistribution of income from
the immigrant workers to the northern labour as a result of the policy
relaxation is taking place
Determinants of Collective Action under Devolution Initiatives: The Case of Citizen Community Boards in Pakistan
Get PDFIn 2001, a scheme called Citizen Community Board (CCB), a kind
of communitybased organisation (CBO), was introduced in Pakistan, under
which local people propose development projects to the local government
through forming a CCB, and upon approval the local government funds 80
percent of the project cost. Since 2001, however, both the number of
CCBs and that of approved projects have been below the expected level.
This raises a concern that the Pakistani society with limited historical
experience in CBO-based development is too handicapped for the CCB
scheme to be successful. This paper addresses this concern through
quantifying the determinants of successful formation of a CCB and those
of successful development activities conditional on the formation. The
regression results using a cross-section dataset in a district in
Pakistan Punjab in 2004-05 suggest that the rules within a CCB and the
type of leadership are key to the success of CCB initiatives
Reproductive Tract Infections among Women in Pakistan: An Urban Case Study
Get PDFReproductive tract infections (RTIs) among women—despite being
common and having grave consequences—are not given much attention by
policy-makers and health planners. The asymptomatic nature of most
infections makes their detection and diagnosis difficult, making
laboratory testing the most accurate method of bio-medical diagnosis.
The present paper assesses the magnitude and nature of infections as
diagnosed through laboratory testing and looks into the variation in
magnitude and the nature of RTIs among women with different
socio-economic and demographic characteristics. The aetiological rate of
infection among women is found to be 24 percent, with the majority of
these women testing positive for endogenous infections. Factors
significantly increasing the likelihood of having an infection include
intrauterine device use or getting a tubectomy, short inter-pregnancy
intervals, and lower economic status of women
Skill Development in Pakistan ( The Presidential Address)
No full textHuman resource development particularly improved skills impact
rather significantly economic growth and the productivity levels.
Whereas research on productivity following Abramovitz (1956) and Solow
(1957), seminal articles on sources of growth, highlighted the
importance of human resource development,1 the endogenous theory of
economic growth has brought human capital at the centre stage of the
growth process [Romer (1990, 1993)].2 While the contribution of
productivity towards growth rate of GDP in Pakistan has been one-third,
the increase in total factor productivity has more to do with catching
up than the improvement in human resource development, major source of
sustained growth [see Kemal, Din, and Qadir ( 2002)]
Joachim von Braun and Rajul Pandya-Lorch (eds.). Food Policy for the Poor: Expanding the Research Frontiers: Highlights from 30 Years of IFPRI Research. Washington, D. C.: IFPRI, 2005. 253 Pages. Price not given.
Get PDFThe research of the past 30 years at the International Food
Policy Research Institute (IFPRI) is highlighted in this volume. The
topic is food and nutrition security. Of related concern are the
development strategies that impact on technologies for agricultural
production, resource management, conflicts and natural disasters,
subsidies and safety nets, gender roles, and health. The book consists
of nine chapters. The first chapter discusses a changing IFPRI in a
changing world. The current and future world food situation is analysed
and ways are suggested to increase agricultural production and to
explore policies for improving production, trade, and distribution of
food so that an increase in the quantity and quality of food would be
available for all people. IFPRI has heightened its efforts to raise the
awareness about emerging food security issues. In particular, its “2020
Vision for Food, Agriculture, and the Environment” initiative is aimed
at promoting policy actions that will lead to food and nutrition
security
Reforms, Productivity, and Efficiency in Banking: The Indian Experience (Distinguished Lecture)
No full textIndia embarked on a strategy of economic reforms in the wake
of a serious balance-ofpayments crisis in 1991. A central plank of the
reforms was reform in the financial sector and, with banks being the
mainstay of financial intermediation, the banking sector. The objective
of the banking sector reforms was to promote a diversified, efficient
and competitive financial system with the ultimate objective of
improving the allocative efficiency of resources through operational
flexibility, improved financial viability and institutional
strengthening. Beginning from 1992, Indian banks were gradually exposed
to greater domestic and international competition. India’s approach to
banking reforms has been somewhat different from many other countries.
Whereas there has not been privatisation of public sector banks, through
a process of partial disinvestment a number of public sector banks have
been listed in Stock Exchanges and have become subject to market
discipline and greater transparency in this manner. Besides, newly
opened banks from the private sector and entry and expansion of several
foreign banks resulted in greater competition. Consequent to these
developments, there has been a consistent decline in the share of public
sector banks in total assets of commercial banks and a declining trend
of Herfindahl’s concentration index. Improvements in efficiency of the
banking system were reflected in a number of indicators, such as, a
gradual reduction in cost of intermediation (defined as the ratio of
operating expense to total assets) in the post reform period across
various bank groups (barring foreign banks), and decline in the
non-performing loans. As a result of these changes, there has been an
all-around productivity improvement in the Indian banking sector. While
the cost income-ratio (i.e., the ratio of operating expenses to total
income less interest expense) as well as net interest margin (i.e., the
excess of interest income over interest expense, scaled by total bank
assets) of Indian banks showed a declining trend during the post-reform
period, the business per employee of Indian banks increased over
three-fold in real terms exhibiting an annual compound growth rate of
nearly 9 percent. At the same time, the profit per employee increased
more than five-fold, implying a compound growth of around 17 percent.
Branch productivity also recorded concomitant improvements. Such
productivity improvements in the banking sector could be driven by two
factors: technological improvements, which expands the range of
production possibilities and a catching up effect, as peer pressure
amongst banks compels them to raise productivity levels. As far as the
future of Indian banking is concerned, a number of issues, such as the
credit to small and medium enterprises, customers’ interests and
financial inclusion, reducing procedural formalities, listing of the
public sector banks in the stock exchange and related market discipline
are of paramount importance
Suresh Chandra Babu and Ashok Gulati. Economic Reforms and Food Security: The Impact of Trade and Technology in South Asia. New York: Food Products Press, 2005. 483 pages. Price not given.
Get PDFThis book covers a wide range of issues relating to food
security (in order of hierarchy) including the globalisation and
liberalisation of trade, the WTO Agreement on Agriculture and
Intellectual Property Rights, market reforms, technological options,
diversification and research needs, water security, and household food
security. Further, recommendations are made to cope with challenges of
food insecurity. The authors emphasise the need of continuity of the
current trend of reforms and devising new policies for the agricultural,
food, and natural resources sectors. The issues of poverty, food
insecurity, and malnutrition are being faced across South Asia. These
are important not only on economic grounds but also on ethical grounds.
The volume’s twenty one chapters, divided into seven parts, have been
contributed by twenty-nine experts. Part I discusses economic reforms,
trade, technology, and food security. The authors analyse food security
situation in the region in the longrun perspective and discuss policy
imperatives to cope with this challenge. Among the recommendations, are
the need for investment in human resources, improvement in rural
infrastructure, development of pro-poor technologies, and promotion of
regional cooperation
Evidence on Allocative Efficiency and Elasticities of Substitution in the Manufacturing Sector of Pakistan
Get PDFLack of effective competition in factor markets often produces
allocative or price inefficiencies in the manufacturing sector of
developing countries like Pakistan. Such inefficiencies are common due
to distortion in factor markets leading to the use of inappropriate
factor proportions Lau and Yotopoulos (1971, 1972), Yotopoulos and Lau
(1973), Burki, et al. (1997), Khan (1998), Ahmed (1999), Zafar (2000).
Pakistan is also one of the country where labour is abundant but capital
and raw material are scarce. Our finding undermine estimates of
elasticities of demand and substitution based on classical assumption
that factor markets are perfectly competitive i.e. Kazi, et al. (1976),
Kemal (1981), Battese and Malik (1987, 1988, 1993), Malik, et al.
(1989), Mahmood (1989, 1992), Zahid, et al. (1992) and Khan and Rafiq
(1993). In order to discuss the cost structure of the manufacturing
sector we will estimate well behaved translog cost function