Article Type

Article

Description

Most of the popular discussion on the economy remains obsessively focused on the government, its policies and institutions. While it is true that these policies and institutions play a critical role, we do forget that productivity gains which form the cornerstone of economic growth and better living standards are achieved under a given factor endowment through interactions between public policies and institutions, private sector response and behavior, society’s norms and culture and external environment. We should therefore shed light on the societal norms, attitudes and culture and the markets in which the private economic agents operate taking the public policy and external environment as constant and trace their consequences for Pakistan’s economy. The criticisms against the successive governments – civilian and military for poor governance and institutional decay – are both valid and well documented and are not repeated here.

Publication Source

Blue chip : the business people's magazine

Publication Date

10-2015

Pages

1-11

Download

Share

COinS