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This paper proposes that the underlying cause of the macroeconomicproblems facing Pakistan today are a series of supply shocks which haveconstrained output growth. It is argued that while the current debate has solely focused on government expenditures and revenues, it is critical to also address the acute energy shortages which is constraining supply. The paper goes on to present four recommendations for breaking out of the present stagflation: i prudent macroeconomic management, ii reviving the role of the government in development while restoring fiscal balance, iii loosening monetary policy in order to spur the private sector, and iv improving social safety nets.

Item Type: MPRA Paper -

Original Title: Pakistan: Breaking out of stagflation into sustained growth-

Language: English-

Keywords: Economic Growth, Supply Shock, Pakistan-

Subjects: F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open EconomiesP - Economic Systems > P4 - Other Economic Systems > P44 - National Income, Product, and Expenditure ; Money ; Inflation-

Autor: Amjad, Rashid


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