Budgetary Balance and Private Sector Activity in Pakistan: The Net Impact of Defense Expenditures on Investment in Manufacturing
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Authors
Looney, Robert E.
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Date of Issue
1992
Date
1992
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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 by half to $438 million, equal to less
than three weeks~of imports (World Bank, 1991: ii).
Type
Article
Description
Refereed Journal Article
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Citation
Looney, R.E., "Budgetary Balance and Private Sector Activity in Pakistan: The Net Impact of Defense Expenditures on Investment in Manufacturing" Journal of Economics and Administrative Studies, vol. 6, nos. 1&2, 1992.
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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.