Author Affiliation

  • Dr. Ishrat Husain is former Dean and Director of the Institute of Business Administration, Karachi and was until recently Advisor to the Prime Minister on Institutional Reforms and Austerity with the status of Federal Minister. In this capacity he also served as the member of National Economic Council, ECNEC, Economic coordination Committee of the Cabinet and several other Cabinet Committees.

Faculty / School

School of Economics and Social Sciences (SESS)

Department

Department of Economics

Was this content written or created while at IBA?

Yes

Document Type

Article

Source Publication

Discourse Magazine

Keywords

Economic reform,Economic growth,Good governance

Disciplines

Business | Public Affairs, Public Policy and Public Administration | Public Policy

Abstract

Empirical studies of determinants of growth and development carried out over the past seventy years have now clearly demonstrated that broad based socioeconomic development is determined, inter alia, by the quality of governance and institutions. An empirical study by the International Monetary Fund in 2003 found that governance has a statistically significant impact on GDP per capita across ninety-three countries and governance explains nearly 75 per cent of the cross country variations in income per head. An Asian Bank empirical study (2010) shows that developing Asian economies with government effectiveness, regulatory quality, and rule of law scoring above the global mean (after controlling for per capita income) grew faster on average during 1998-2008 than economies scoring below the global mean. The authors conclude that good governance is associated with both a higher level of per capita GDP as well as higher rates of GDP growth over time.

Publication Status

Published

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