Defense Expenditures, Investment and Crowding Out: Problems of Capital Formation in Pakistani Manufacturing

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Authors
Looney, Robert E.
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Date of Issue
1994
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1994
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Abstract
Toward the end of 1988, Pakistan's deteriorating resource situation caused a financial crisis many remnants of which still exist today. In 1988 the Government's budget deficit reached 8.5% of Gross Domestic Product (GDP), inflation accelerated, the current account deficit doubled to 4.3% of Gross National Product (GNP), the external debt service ratio reached 28% of export earnings, and foreign exchange reserves fell in half to $438 million, equal to less than three weeks of imports.
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Article
Description
Journal of Third World Studies, Fall 1994.
Refereed Journal Article
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https://hdl.handle.net/10945/40584
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National Security Affairs
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Citation
Looney, R.E., "Defense Expenditures, Investment and Crowding Out: Problems of Capital Formation in Pakistani Manufacturing," Journal of Third World Studies, Fall 1994.
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This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.
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