Pakistan : Finding the Path to Job-Enhancing Growth

Pakistan : Finding the Path to Job-Enhancing Growth

Pakistan's rebound from the global financial crisis has been slow and fragile, and unless the economy changes course swiftly, it could face its second balance of payments crisis in five years. Its recovery from the 2008-09 global financial cri...

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Bibliographic Details
Main Author:	World Bank
Format:	Country Economic Memorandum
Language:	English en_US
Published:	Islamabad: World Bank 2013
Subjects:	ACCOUNTABILITY ACCOUNTING ACCOUNTING MODELS ADB AGGREGATE DEMAND AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTIVITY AGRICULTURAL TRADE AGRICULTURE ALTERNATIVE DISPUTE RESOLUTION ANNUAL GROWTH ANTI-EXPORT BIAS AUDITS AUTONOMY AVERAGE GROWTH AVERAGE INCOME BAD GOVERNANCE BANKING SECTOR BANKING SECTOR REFORMS BANKING SYSTEM BANKS BENCHMARK BENCHMARKING BONDS BUSINESS ENVIRONMENT CAPITAL ACCUMULATION CENTRAL BANK CITIZEN CITY GOVERNANCE CIVIL SERVICE CIVIL UNREST COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMERS CORPORATE GOVERNANCE CORPORATE SECTOR CORRUPTION CRIME CRISES DEBT DECISION TREE DEMOCRATIC REGIMES DEVELOPMENT BUDGET DEVELOPMENT GOALS DEVELOPMENT INDICATORS DEVELOPMENT PROJECTS DEVELOPMENT REPORT DEVELOPMENT STRATEGY DEVOLUTION DIRECT INVESTMENT DOMESTIC CREDIT ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC RELATIONS ECONOMIC SITUATION EDUCATIONAL ATTAINMENT ELASTICITY EMERGING MARKETS EMPLOYMENT ENTERPRISE GOVERNANCE ENTREPRENEURSHIP EXCISE TAXES EXPORT DIVERSIFICATION EXPORT GROWTH EXPORTS EXTERNAL TRADE FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL MANAGEMENT FINANCIAL MARKETS FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FOREIGN EXCHANGE FUEL TAXES GDP GDP PER CAPITA GINI COEFFICIENT GOVERNANCE CHALLENGE GOVERNANCE INDICATORS GROSS DOMESTIC PRODUCT GROWTH PATH GROWTH POLICIES GROWTH POTENTIAL GROWTH RATE GROWTH RATES HARD BUDGET CONSTRAINTS HEADCOUNT POVERTY HIGH ELASTICITY HIGH GROWTH HOUSING HUMAN CAPITAL HUMAN RESOURCE IMPROVING GOVERNANCE INCOME INCOME LEVEL INDUSTRIAL POLICY INEQUALITY INFLATION INSURANCE INTEREST RATES INTERGOVERNMENTAL FISCAL RELATIONS INTERNAL CASH GENERATION INTERNATIONAL FORUMS INTERNATIONAL RESERVES INTERNATIONAL TRADE INVESTMENT CLIMATE LABOR FORCE LABOR MARKET LAWS LEGAL FRAMEWORK LEGISLATION LEVEL PLAYING FIELD LIQUIDATION LIVING STANDARDS LOCAL GOVERNMENTS LONG-TERM GROWTH MACROECONOMIC IMBALANCES MACROECONOMIC INSTABILITY MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MACROECONOMIC STANCE MACROECONOMIC VARIABLES MACROECONOMICS MARKET FAILURES MEDIUM TERM MICROFINANCE MIGRATION MONETARY POLICIES NATIONAL FRAMEWORK NATIONAL INCOME NATURAL ENDOWMENTS NATURAL RESOURCES NEW ENTRANTS OUTPUT GAP PARLIAMENT PAYMENTS CRISIS PENALTIES PENSIONS PER CAPITA GROWTH PER CAPITA INCOMES POINT DECLINE POLICY MEASURES POLICY OPTIONS POLICY REFORMS POLITICAL COMMITMENT POLITICAL ECONOMY POLITICAL ECONOMY OF REFORM POLITICAL INSTABILITY POLITICAL INTERFERENCE POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL STABILITY POSITIVE EFFECTS POVERTY RATE POVERTY RATES POVERTY REDUCTION PRIMARY EDUCATION PRIME MINISTER PRIVATIZATION PRO-POOR PRO-POOR GROWTH PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC DEBT PUBLIC INFRASTRUCTURE PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PURCHASING POWER PURCHASING POWER PARITY RAPID GROWTH REAL GDP REAL INTEREST RATES REFORM EFFORTS REGULATORY FRAMEWORK REGULATORY REGIME RISING DEMAND RURAL ACTIVITIES RURAL AREAS SAVINGS SERVICE DELIVERY SOCIAL OUTCOMES SOCIAL PROTECTION SOCIAL SAFETY NETS STATE BANK OF PAKISTAN STATE ENTERPRISES STRUCTURAL CHANGE TAX LAWS TAX REFORM TAX REVENUES TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH TOTAL OUTPUT TRADE COMPETITIVENESS TRADE FLOWS TRADE LIBERALIZATION TRADE POLICY TRADE REFORMS TRANSPARENCY UNEMPLOYMENT UNSKILLED LABOR URBAN DEVELOPMENT URBAN SERVICES VALUATION VALUE ADDED WAGES WEALTH YOUNG WOMEN YOUTH YOUTH DEVELOPMENT
Online Access:	http://documents.worldbank.org/curated/en/2013/08/18124048/pakistan-finding-path-job-enhancing-growth-country-economic-memorandum http://hdl.handle.net/10986/15979

Description
Summary:	Pakistan's rebound from the global financial crisis has been slow and fragile, and unless the economy changes course swiftly, it could face its second balance of payments crisis in five years. Its recovery from the 2008-09 global financial crisis has been the weakest in South Asia, with a double dip pattern. This report identifies conditions for a sustainable job-enhancing growth agenda for Pakistan. Policy must target both goals as they are closely intertwined. Higher growth rates can be achieved through productivity improvements (technology, innovation, better economic governance), but also from higher output extracted from factors-physical capital, labor, human capital, and land. This report considers whether Pakistan should pursue historical growth of 4.3 percent a year, supported by piecemeal structural reforms leading to partial and unsatisfactory outcomes-or rapid growth of 7 percent, requiring comprehensive big-bang reforms. The report is organized around three major themes: (i) the stylized facts, what are the pluses and minuses of Pakistan's patterns of growth and job creation? (ii) the diagnostics, what is holding back Pakistan's growth? And (iii) the transformational agenda, what are the core ingredients of job-enhancing growth? And how can analysis of the political economy identify policy tradeoffs?

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