Open AccessPakistan, Growth, Dependency, and Crisis
Author(s) -
Matthew McCartney
Publication year - 2011
Publication title -
the lahore journal of economics
Language(s) - English
Resource type - Journals
eISSN - 1811-5446
pISSN - 1811-5438
DOI - 10.35536/lje.2011.v16.isp.a4
Subject(s) - economics , gross domestic product , dependency (uml) , rhetoric , asset (computer security) , dependency ratio , financial crisis , macroeconomics , development economics , monetary economics , population , sociology , linguistics , philosophy , demography , computer security , systems engineering , computer science , engineering
Compared to the historical and even contemporary experience of India,Pakistan has long been regarded as a “dependent” economy. Gross domestic productgrowth in Pakistan is typically argued to be contingent on external factors: trade,financial flows, and the interdependence of asset markets. Beyond the rhetoric, thereis only ambiguous and contradictory empirical evidence to support this view. Thispaper offers a new methodology, that of case studies of growth and stagnation, to testthe hypothesis of dependency. The results show that growth in Pakistan is influencedby external factors, but that growth is driven primarily by the dynamics of thedomestic economy.