Open AccessSavings and Financial Flows in the Corporate Sector, 1959-63
Author(s) -
Khadija Haq,
Moin Baqai
Publication year - 1967
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v7i3pp.283-316
Subject(s) - investment (military) , balance of payments , economics , commission , benchmark (surveying) , work (physics) , foreign direct investment , balance sheet , national accounts , finance , estimation , macroeconomics , business , engineering , mechanical engineering , geodesy , politics , political science , law , geography , management
In common with most developing countries, the statisticalinformation about savings in Pakistan is weak and incomplete. Somestudies were made in the recent past [1(a), pp.1-50; 1(b), pp.163-208]but these relate to specific sectors of the economy, or they are basedon one statistical source and may, therefore, be inconsistent with datafrom other sources. The only comprehensive estimate is produced annuallyby the Planning Commission as a corollary of its work on nationalaccounts and investment expenditures. Recent evaluation reports [2(a),pp.5-9; 2(b), pp.21-25] have contained estimates of national grosssavings calculated as the difference between the investment expenditureson one side, and external financing on the other. As the investmentestimates are derived from data on key inputs [2(a), pp.173-181; 2(b),pp.137-144]—machinery, transport equipment, steel and cement—com¬binedwith a more detailed estimate for one year used as the benchmark, thereprobably is a significant standard error of estimate here. With regardto external finance, the balance of payments data used are probably moreaccurate than the investment figures, but are also inadequate, notablywith regard to foreign private investment and technicalassistance.