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Though Pakistan has been impressively following a liberal trade policy by substantially slashing the general tariff since 1992, yet there have been some commodity groups (food related and fuels and oil)which have been protected with rising trends in the import tariffs. Here the welfare loss of the selective protectionist trade policy and welfare gains of general liberal trade policy incurring on the poorest and ordinary households using data on Household expenditure, prices, and labour wages are measured. The uniqueness, inter alia, of the book is that first time nontraded goods have been included in the trade and welfare analysis of Pakistan. In case of Pakistan, the present book suggests substantial gains for poorest and ordinary households from liberal trade policy and substantial losses to them from selective protection. Keeping in view the nature of the theme, the present book can be a very useful source for MS and PhD research students of international economy, economics and development economics. It can be a wonderful piece of work for the general readers as well who are interested in knowing about global economic and trade mechanisms and dynamics.
After more than four decades of protective trade policy, Pakistan undertook substantial trade liberalization beginning in the 1990s. We assess the short- and long-run impacts of trade liberalization (full and partial) on household incomes, welfare, and poverty under various fiscal scenarios. A computable general equilibrium (CGE) model of the Pakistan economy for the year 1990 is used with 10 household categories (identified by employment status in urban areas and by land holdings in rural areas), 12 production activities, and two factors of production. Our general conclusion is that trade reform improves the average welfare of urban households but reduces the welfare of rural households. In both regions, the rich generally benefit, whereas the poor lose out. The fall in urban poverty dominates the increase in rural poverty such that overall poverty is reduced.
The Role of Trade in Ending Poverty looks at the complex relationships between economic growth, poverty reduction and trade, and examines the challenges that poor people face in benefiting from trade opportunities. Written jointly by the World Bank Group and the WTO, the publication examines how trade could make a greater contribution to ending poverty by increasing efforts to lower trade costs, improve the enabling environment, implement trade policy in conjunction with other areas of policy, better manage risks faced by the poor, and improve data used for policy-making.
This article aims to analyse the impact of industry-level trade liberalisation (measured through industry-specific tariff rates) on poverty in Pakistan. Combining data for tariff rates with the Labour Force Survey of Pakistan, we use quantile regression analysis to estimate the impact of changes in tariff rates on workers' wages (associated with the manufacturing sector of Pakistan) that are at different points of the income distribution. Our findings meaningfully signal that trade liberalisation helps to reduce poverty in the economy. Based on these results, this study provides policy recommendations to reap maximum benefits from trade liberalisation.
Free trade can help 500 million people escape poverty and inject.
This is the first study to distinguish a possible link between trade liberalisation and regional disparities under dissimilar political regimes, such as autocracy and democracy. It uses Pakistan as a case study to draw broader lessons for other developing countries.