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Pakistan, since its independence in 1947, had to face tumultuous years for the first four decades. Despite the many challenges, both internal and external, the country was able to register a 6 per cent average annual growth rate during the first forty years of its existence. The country was ahead of India and Bangladesh in all economic and social indicators. Since 1990, the country has fallen behind its neighbouring countries and has had a decline in the growth rate. This book attempts to examine the reasons behind this slowdown, the volatile and inequitable growth of the last twenty-five years, and through a process of theoretical and empirical evidence argues that the most powerful explanatory hypothesis lies in the decay of institutions of governance. It also suggests a selective and incremental approach of restructuring some key public institutions that pertain to accountability, transparency, security, economic growth, and equity.
Providing a non-technical understanding of weak economic growth and performance of the public sector in Pakistan relative to that of peer countries, this book serves as an interesting introduction to policymakers, journ alists, and civil society organizations interested in carrying out research and advocacy work towards improving economic governance in the country. Delving one step ahead from recent literature on Pakistan's economy, the author focuses on why reform of institutions dealing with economic policy regulation and management is imperative, while simultaneously identifying pending structural reforms that Pakistan's economy could pursue for inclusive growth and social justice. Exploring the fragmented structure of tax revenue mobilization, public expenditure management, energy governance, trade and transit framework, and the labour market, this book serves as an important resource for readers wishing to have an understanding of economic challenges and reform options.
Going for Growth 2021 identifies country-specific structural policy priorities for the recovery across OECD and key non-member countries (Argentina, Brazil, The People’s Republic of China, Costa Rica, India, Indonesia and South Africa). It frames the main policy challenges of the current juncture along three main areas: building resilience; facilitating reallocation and boosting productivity growth for all; and supporting people in transition.
Going for Growth is the OECD’s regular report on structural reforms in policy areas that have been identified as priorities to boost incomes in OECD and selected non-OECD countries (Argentina, Brazil, the People's Republic of China, Colombia, Costa Rica, India, Indonesia, Lithuania, the Russian Federation and South Africa). Policy priorities are updated every two years and presented in a full report, which includes individual country notes with detailed policy recommendations to address the priorities as well as a follow-up on actions taken. The next full report will be published in 2019. The interim report takes stock of the actions taken by governments over the past year in the policy areas identified as priorities for growth. This stocktaking is supported by internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas.
Inside the hidden lives of the global “1%”, this book examines the networks, social practices, marriages, and machinations of Pakistan’s elite. Benefitting from rare access and keen analytical insight, Rosita Armytage’s rich study reveals the daily, even mundane, ways in which elites contribute to and shape the inequality that characterizes the modern world. Operating in a rapidly developing economic environment, the experience of Pakistan’s wealthiest and most powerful members contradicts widely held assumptions that economic growth is leading to increasingly impersonalized and globally standardized economic and political structures.
Governments fail to provide the public goods needed for development when its leaders knowingly and deliberately ignore sound technical advice or are unable to follow it, despite the best of intentions, because of political constraints. This report focuses on two forces—citizen engagement and transparency—that hold the key to solving government failures by shaping how political markets function. Citizens are not only queueing at voting booths, but are also taking to the streets and using diverse media to pressure, sanction and select the leaders who wield power within government, including by entering as contenders for leadership. This political engagement can function in highly nuanced ways within the same formal institutional context and across the political spectrum, from autocracies to democracies. Unhealthy political engagement, when leaders are selected and sanctioned on the basis of their provision of private benefits rather than public goods, gives rise to government failures. The solutions to these failures lie in fostering healthy political engagement within any institutional context, and not in circumventing or suppressing it. Transparency, which is citizen access to publicly available information about the actions of those in government, and the consequences of these actions, can play a crucial role by nourishing political engagement.
Across the OECD, governments are seeking to undertake structural reforms to strengthen their economic growth. Based on a broad set of indicators of structural policies and performance, Going for Growth 2007 takes stock of the recent progress made in implementing policy reforms and identifies, for each OECD country, five policy priorities to lift growth. It calls for reforms in areas such as product and labour market regulation, taxation, pension, income support, health and education to boost labour productivity and employment. The set of internationally comparable indicators provided here enables countries to assess their economic performance and structural policies in a broad range of areas. The publication puts together the knowledge accumulated at the OECD in these various fields. In addition, this issue contains four analytical chapters covering: The employment effects of policies and institutions Product market regulation and productivity convergence Policies to strengthen competition in product markets Factors shaping the implementation of structural reform
Reforms and Economic Transformation in India is the second volume in the series Studies in Indian Economic Policies. The first volume, India's Reforms: How They Produced Inclusive Growth (OUP, 2012), systematically demonstrated that reforms-led growth in India led to reduced poverty among all social groups. They also led to shifts in attitudes whereby citizens overwhelmingly acknowledge the benefits that accelerated growth has brought them and as voters, they now reward the governments that deliver superior economic outcomes and punish those that fail to do so. This latest volume takes as its starting point the fact that while reforms have undoubtedly delivered in terms of poverty reduction and associated social objectives, the impact has not been as substantial as seen in other reform-oriented economies such as South Korea and Taiwan in the 1960s and 1970s, and more recently, in China. The overarching hypothesis of the volume is that the smaller reduction in poverty has been the result of slower transformation of the economy from a primarily agrarian to a modern, industrial one. Even as the GDP share of agriculture has seen rapid decline, its employment share has declined very gradually. More than half of the workforce in India still remains in agriculture. In addition, non-farm workers are overwhelmingly in the informal sector. Against this background, the nine original essays by eminent economists pursue three broad themes using firm level data in both industry and services. The papers in part I ask why the transformation in India has been slow in terms of the movement of workers out of agriculture, into industry and services, and from informal to formal employment. They address what India needs to do to speed up this transformation. They specifically show that severe labor-market distortions and policy bias against large firms has been a key factor behind the slow transformation. The papers in part II analyze the transformation that reforms have brought about within and across enterprises. For example, they investigate the impact of privatization on enterprise profitability. Part III addresses the manner in which the reforms have helped promote social transformation. Here the papers analyze the impact the reforms have had on the fortunes of the socially disadvantaged groups in terms of wage and education outcomes and as entrepreneurs.
This report examines the influence of trust on policy making and explores some of the steps governments can take to strengthen public trust.