Trade and Industrialization Policies for an Accelerated Development in Pakistan

Abstract

Pakistan achieved high rates of economic growth from the mid-1970s. Growth was faciitated by the external circumstances that relaxed the balance-of-payments constraints. However, growth was not accompanied by an improved social development Moreover, as the external circumstances worsened, the underlying macroeconomic imbalances emerged and the growth slowed down. The paper assesses how the domestic and international economic policies might be adjusted to attain a more sustainable pattern of development.