"Economic Policy and Industrial Growth in Pakistan"—A Review (Review Article)

A. H. M. Nuruddin Chowdhury

Abstract


Stephen R. Lewis (Jr.) is one of the few foreign economists
most compe¬tent to write on Pakistan economy judged on the basis of his
past publications, length of association with this country and sincerity
of commitment to under¬stand it. Therefore, the volume under review
[10], coming from the pen of such a knowledgeable person, cannot but be
seriously taken by all students of the Pakistan economy. The general
purpose of the work has been to explore the causes of rapid
industrialization in Pakistan, to analyse the process of industrial
growth and to assess the relative importance of policy variables and
nonpolicy determinants in explaining the pattern and speed of
industrialization. Lewis extensively draws upon the previous studies on
Pakistan economy relating to the structure of tariffs and commodity
taxes, the growth and structural changes in manufacturing industries,
the intersectoral terms of trade between agriculture and manufacture and
the effective rates of protection to industries (many of which were done
either by him or with his inspiration or collaboration), so much so that
the book looks like a lengthy digest of these studies carried out in the
past. However, he marshals the empirical findings of these works to
deduce some new conclusions.

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DOI: https://doi.org/10.30541/v10i2pp.264-271

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