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An Empirical "Dependent Economy" Model for Pakistan


Nadeem Ul Haque


Pakistan Institute of Development Economics

Aasim Husain


International Monetary Fund (IMF) - Research Department

Peter J. Montiel


Williams College - Department of Economics

October 1991

IMF Working Paper No. 91/102

Abstract:     
While the "dependent economy" approach has been used extensively in theoretical work on developing countries, there is very little empirical analysis of it available in the literature. This paper specifies a dependent economy model which incorporates several developing-country features, including an explicit role for public investment and legal interest rate ceilings. The model is estimated for Pakistan and is used to analyze the country`s recent high growth-low inflation experience. In particular, the contribution that external inflows, in the form of workers` remittances and concessional lending, may have made in generating this outcome is assessed.

Number of Pages in PDF File: 32

JEL Classification: C51, E62, E35, O11

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Date posted: February 15, 2006  

Suggested Citation

Ul Haque, Nadeem and Husain, Aasim and Montiel, Peter J., An Empirical "Dependent Economy" Model for Pakistan (October 1991). IMF Working Paper, Vol. , pp. 1-32, 1991. Available at SSRN: http://ssrn.com/abstract=885102

Contact Information

Nadeem Ul Haque (Contact Author)
Pakistan Institute of Development Economics ( email )
Quaid-i-Azam University Campus, P.O. Box. 1091
Islamabad, Capital 44000
Pakistan
+92-51-9217879 (Phone)
+92-51-9210886 (Fax)
HOME PAGE: http://www.saneinetwork.net/structure/st_comm/NadeemUlHaque.asp
Aasim Husain
International Monetary Fund (IMF) - Research Department ( email )
700 19th Street NW
Washington, DC 20431
United States
Peter J. Montiel
Williams College - Department of Economics ( email )
Fernald House
Office: Fernald 14
Williamstown, MA 01267
United States
413-597-2103 (Phone)
413-597-4045 (Fax)
HOME PAGE: http://www.williams.edu/Economics/faculty/montiel.htm
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