Parvez Hasan. Pakistan’s Economy at the Crossroads: Past Policies and Present Imperatives. Karachi: Oxford University Press, 1998. Hardbound. Price not given.

Sarfraz Khan Qureshi


The book by Parvez Hasan provides a critical review of
Pakistan’s development record during the first fifty years of its
economic history. The assessment of the economic performance is
conducted in terms of three interrelated criteria: the quantity of
growth, distributional outcome of the growth process, and the
sustainability of the past pattern of growth. The main finding that
emerges from his careful analysis of the past development experience is
that there has been a reasonably high and steady growth in Pakistan. The
cost of high growth in terms of poverty alleviation and income and
wealth inequalities has been higher than a possible counterfactual
situation if the growth process had been restructured along different
lines. The macro imbalances, which have always been large and
unsustainably mainly due to wrong policy choices made in the past, have
now put a big question-mark on the sustainability of unrestrained
pursuit of the growth objective, which itself has been in jeopardy
during the 1990s.

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