Issues in Pakistan's Economy / Edition 2

Issues in Pakistan's Economy / Edition 2

by S. Akbar Zaidi
ISBN-10:
0195979141
ISBN-13:
9780195979145
Pub. Date:
01/12/2006
Publisher:
Oxford University Press, USA

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Overview

Issues in Pakistan's Economy / Edition 2

This book is the main text for post-graduate courses on South Asia's development, economic history and on its political economy. For researchers on Pakistan's economy, it is the key source for reference, and covers a huge and diverse array of data, literature reviews, commentary and analysis.

Product Details

ISBN-13: 9780195979145
Publisher: Oxford University Press, USA
Publication date: 01/12/2006
Edition description: REV
Pages: 542
Product dimensions: 10.90(w) x 8.30(h) x 1.00(d)

About the Author

S. Akbar Zaidi is a Karachi-based social scientist who specializes in the field of political economy. He taught at Karachi University for nearly fifteen years and continues to lecture at universities in Pakistan and abroad. Most recently (2004-05) he was a Visiting Professor at the School of Advanced International Studies at Johns Hopkins University. He conducts research and has published twelve books, two of which, Issues in Pakistan's Economy (OUP, 1999) and The New Development Paradigm: Papers on Institutions, NGOs, Gender and Local Government (OUP, 1999), have become standard textbooks for graduate and postgraduate courses on Pakistan's economy and Development Economics, both in Pakistan and abroad. He has published in numerous international professional journals on themes as diverse as devolution, health sociology, local government, fiscal policy, and international financial institutions.

Table of Contents

List of Figures
ix
List of Tables
x
Preface xiii
Introduction xiv
Fifty Years of Development
1(10)
Structural Change
2(2)
Five Decades and Five Epochs
4(4)
Laying the Foundations: 1947--1955
5(1)
The Decade of Development: 1958--1965
5(1)
The Bad Luck Years: 1971--1976
6(1)
The Second Military Government: 1977--1986
6(1)
The Era of Structural Adjustment: 1980 Onwards
6(2)
The Balance Sheet
8(1)
Conclusions
9(2)
Part I Agriculture 11(72)
Is Pakistan Feudal? A Historical Account of the Development of Agriculture in Pakistan
12(11)
The Development of Agriculture Before the Consolidation of British Rule
12(2)
The Impact of British Colonialism
14(3)
Feudal or Capitalist?
17(2)
Summary and Further Reading
19(4)
Summary
19(1)
Further Reading
19(4)
The Green Revolution and Land Reforms
23(11)
The Green Revolution
23(4)
The Issue of the Tubewells
25(1)
Tractorization
25(1)
Regional and Income Disparities
25(1)
Elite Farmer Strategy and Capitalist Development
26(1)
Social and Political Effects
26(1)
Land Reforms
27(4)
The 1959 Land Reforms
29(1)
The Bhutto Reforms of 1972
30(1)
Summary and Further Reading
31(3)
Summary
31(1)
Further Reading
31(3)
The Nature and Direction of Agrarian Change
34(15)
Explaining the Numbers
34(10)
Data from the Censuses
35(3)
Changes Over Time
38(6)
What Do the Numbers Mean?
44(1)
Summary and Further Reading
45(4)
Summary
45(1)
Further Reading
46(3)
Agriculture: Critical issues
49(34)
An Overview and Major Trends
49(7)
Agricultural Pricing Policy
56(3)
Rural Financial Markets and Agricultural Credit
59(6)
Informal Sources of Credit
60(2)
Formal Sources of Credit
62(3)
Mechanization
65(2)
Agricultural Income Tax
67(5)
Summary and Further Reading
72(11)
Summary
72(1)
Further Reading
72(11)
Part II Industry and Trade 83(112)
The Process of Industrialization in Pakistan I: 1947--1977
84(21)
1947--1958: Exchange Rates, Trade Policies, and Import Substituting Industrialization
85(6)
The Impact of the Exchange Rate
86(1)
The Trade Policy Regime
87(1)
The Consequences of Exchange Rate and Trade Policy for Industrialization
88(1)
The End Result
89(2)
1958--1968: The Decade of Development
91(7)
Trade Policy Directing Industrialization
92(2)
Foreign Aid, the Private Sector and Inequalities
94(4)
1972--1977: The Bhutto Years - Bad Luck or Bad Management?
98(4)
Economic Policies and Performance
99(2)
The Bad Luck Factor
101(1)
Summary and Further Reading
102(3)
Summary
102(1)
Further Reading
103(2)
The Process of Industrialization In Pakistan II: 1977--1997
105(16)
The Zia Years: 1977--1988
105(9)
The Nature and Extent of Growth
105(2)
Industrial Policy
107(3)
The Public/Private Sector Divide
110(1)
Deregulation and Liberalization
111(1)
Causes of High Growth and the Success of the Zia Regime
112(2)
The Age of Structural Adjustment: 1988 Onwards
114(3)
Summary and Further Reading
117(4)
Summary
117(1)
Further Reading
118(3)
Key Issues in Industry in Pakistan
121(38)
Numbers and Trends in Industry
121(3)
The Small-Scale Manufacturing Sector
124(9)
Numbers and Characteristics
124(2)
Emergence and Growth
126(5)
Issues Affecting the Small-Scale Sector
131(2)
The Textile Industry and its Crisis
133(3)
Has Public Sector Industry Been a Failure?
136(4)
The Privatization Process
140(4)
The Debate Over Efficiency in the Industrial Structure
144(4)
Summary and Further Reading
148(11)
Summary
148(1)
Further Reading
149(10)
Balance of Payments and Trade Regimes
159(36)
Pakistan's Foreign Trade: Basic Facts
159(6)
Trade Policy and Trade Regimes: 1947--1997
165(12)
The Early Years: 1947--1958
165(5)
Trade Policy and the Decade of Development
170(2)
A New Country: 1972--1977
172(1)
The Beginning of a Liberal Trade Regime: 1977--1988
173(1)
Trade Liberalization Under Structural Adjustment: 1988 Onwards
174(3)
The Debate Over Efficiency and the Trade Regime
177(3)
The Exchange Rate
180(2)
Summary and Further Reading
182(13)
Summary
182(1)
Further Reading
183(12)
Part III Fiscal and Monetary Policy 195(104)
Public Finance I: Resource Mobilization and the Structure of Taxation
196(40)
The Structure of Government and Taxation
196(6)
Legislative Functions
196(2)
The Structure of Taxation
198(1)
Inter-Governmental Fiscal Relations
199(3)
Public Finance: The Basic Facts
202(8)
Important Issues in Public Finance and Revenue Mobilization
210(9)
Federal Taxes
210(6)
Resource Mobilization at the Provincial Level
216(2)
Local Government Revenues
218(1)
Is Local Government the Answer?
219(2)
The Contribution of Municipal Government in Development
219(1)
Potential for Development by Local Governments
220(1)
Is Local Government the Answer?
221(1)
The Nature of Public Debt and the Fiscal Deficit: A Preliminary Introduction
221(3)
Summary and Further Reading
224(12)
Summary
224(2)
Further Reading
226(10)
Public Finance II: Pakistan's Fiscal Deficit - The Mother of All Evils?
236(15)
Does the Fiscal Deficit Matter?
236(3)
Should Budgets Always be Balanced?
237(1)
The Problem of Measuring the Deficit
237(1)
Fiscal Deficits, Intertemporal Equity and Distribution
238(1)
Macroeconomic Implications
239(1)
Critical Concerns Regarding Pakistan's Fiscal Deficit
239(5)
The IMF/World Bank View of Pakistan's Fiscal Deficit
240(2)
Re-examining Critical Concerns
242(2)
Summary and Further Reading
244(7)
Summary
244(1)
Further Reading
244(7)
Financial and Capital Markets
251(21)
The Development of the Banking Sector
251(9)
The First Phase: 1947--1974
251(3)
The Relationship Between Economic Growth and the Development of Banking
254(1)
Nationalization in the 1970s
255(1)
Islamic Banking
256(1)
Developments since 1988
257(1)
Banking Trends: 1964--1991
257(1)
Development Finance Institutions (DFIs) and Non-Bank Financial Institutions (NBFIs)
258(2)
Some Salient Issues in the Banking Sector
260(1)
The Equities Market
260(4)
Summary and Further Reading
264(8)
Summary
264(1)
Further Reading
264(8)
Monetary Policy, Savings, and Inflation
272(27)
Monetary Policy and Monetary Management in Pakistan
272(9)
Money Supply and Monetary Expansion
281(2)
Inflation and its Causes
283(4)
The Low Savings Rate
287(3)
Summary and Further Reading
290(9)
Summary
290(1)
Further Reading
290(9)
Part IV The Era of Structural Adjustment Programmes: 1988 to the Present 299(44)
Structural Adjustment Programmes: Composition and Effects
300(15)
The Development and Export of Development Thinking
300(1)
From Structural Adjustment Loans to Structural Adjustment Programmes
301(1)
Structural Adjustment Programmes: Composition
302(2)
Structural Adjustment Programmes: Implementation and Effects
304(4)
Economic Liberalization and Openness: Some Questionable Assertions
308(3)
The Contextuality of Policy
308(2)
International Capital and the Loss of National Autonomy
310(1)
Summary and Further Reading
311(4)
Summary
311(1)
Further Reading
311(4)
Structural Adjustment Programmes in Pakistan: History and Implementation
315(28)
History
315(2)
Implementation of the Structural Adjustment Programmes in Pakistan
317(1)
Fiscal Policy
317(1)
Trade
317(1)
Financial Sector
318(1)
Was the 1988 Structural Adjustment Programme a Success? Achievements and Failures
318(1)
Fiscal Policy
318(1)
Trade and Balance of Payments
318(1)
Financial Sector
319(1)
Liberalization and Privatization
319(1)
Other Areas
319(1)
The World Bank/IMF's Overall Evaluation of the 1988 Structural Adjustment Programme
319(4)
The Political Economy of Structural Adjustment Programmes in Pakistan
323(6)
Pakistan's Dependence on Washington, or Are Governments Autonomous?
323(1)
Did Pakistan Need to Go to the IMF?
324(3)
Why Does Pakistan Accept the Structural Adjustment Programme?
327(2)
Summary and Further Reading
329(14)
Summary
329(1)
Further Reading
329(14)
Part V The Social Sector, Institutions, and Governance 343(84)
The Social Sector I
344(37)
Some International Comparisons
344(3)
Planning for the Social Sectors
347(1)
The Health Sector
348(8)
Statistics
348(1)
The Issues
348(8)
Education
356(5)
Statistics
356(2)
The Issues
358(3)
Summarizing the Issues in Education
361(1)
Population Welfare and Family Planning
361(4)
The Evolution of the Population Welfare Programme
361(2)
Knowledge and Usage
363(1)
Some Issues
364(1)
Urbanization and Housing
365(5)
The Extent of Urbanization
365(1)
Housing in Cities
366(4)
Summary and Further Reading
370(11)
Summary
370(1)
Further Reading
370(11)
The Social Sector II
381(27)
Gender Inequality and Women
381(2)
Statistics
381(1)
Some Issues
382(1)
Finding Some Options
383(1)
Infrastructure
383(2)
The Power Sector
384(1)
The Environment
385(4)
Regional Inequalities
389(7)
Methodology and Results
391(2)
The Issues
393(3)
Poverty
396(3)
Who Are the Poor and Where Do They Live?
397(2)
Summary and Further Reading
399(9)
Summary
399(1)
Further Reading
399(9)
Institutional Issues in the Social Sector
408(19)
The Social Action Programme (SAP)
409(2)
Governance, Decentralization, and Local-Level Delivery
411(2)
Government and Development in Pakistan
412(1)
NGOs and Community Participation
413(2)
Issues of Interpretation and Implementation in the Social Sector
415(2)
Summary and Further Reading
417(10)
Summary
417(1)
Further Reading
417(10)
Part VI Political Economics 427(14)
Political Economics: Class, State, Power, and Transition
428(13)
Civilian Bureaucracy and Industrialization: 1947--1958
428(1)
Civil and Military Bureaucratic Capitalism: 1958--1971
429(1)
A Shift in Emphasis: 1971--1977
430(1)
A Military State and the Middle Classes: 1977--1988
430(2)
The Rise and Rise of the Middle Classes: 1988 Onwards
432(1)
Concretizing the Thesis: The 1997 Elections and Reform of the Economy
433(1)
The Collapse of the State
434(1)
Summary and Further Reading
434(7)
Summary
434(1)
Further Reading
435(6)
Bibliography 441(5)
Index 446

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