Lahore School of Economics

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Is there a future for export-led growth in Pakistan?
May 20, 2024

Dr Azam Amjad Chaudhry

(The writer is the dean of the faculty of economics at the Lahore School of Economics and the WTO chair for Pakistan)


Pakistan is again in the midst of an economic crisis. The core issues of a balance of payments crisis, a halt in economic growth, soaring prices, increasing employment and rising poverty are interlinked and require fundamental reforms. However, the immediate problem is simple: Pakistan needs to export more and has financed growth over the last few decades with foreign borrowing, which must now be paid back. What should be just as simple is the answer: Pakistan is experiencing an export crisis and urgently needs a coherent policy to boost exports.

The continuous balance of payments problem in Pakistan can be described as a problem of balance of payments constrained growth, which means that whenever Pakistan grows at more than 4% per annum, we import so much more than we export that we run out of foreign exchange reserves. In many economies, this imbalance is made up through remittances or foreign investment. In the case of Pakistan, the former has stagnated and the latter is nonexistent. So, the only solution is to increase exports with a coherent export-based industrial strategy.

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posted by S A J Shirazi @ 5/20/2024 12:15:00 PM,

Lahore School listed among top 200 QS International Trade Ranking 2023
July 09, 2023

The Lahore School of Economics has been listed as one of the top 200 in the QS International Trade Ranking 2023.


These rankings explore programmes that upskill their students for a career in international trade, using criteria that rate universities on programme content, innovative teaching practices, and how universities get students ready for employment. If you’re a student pursuing or considering a career in international trade, then these rankings will help you discover the courses that could get you into the sector most effectively.

The QS International Trade Rankings can include any MBA or master’s programme with the content to prepare students for a career in international trade. The rankings use indicators including programme content and teaching, faculty experience in international trade, university academic and employer reputation, return on investment for graduates, and university partnerships with employers.

Also in WTO, Daily Times, Pakistan Observer, Business Recorder, Nation, Twitter 


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posted by S A J Shirazi @ 7/09/2023 04:02:00 PM,

Lahore School of Economics in WTO Chairs Programme
November 26, 2021

Seventeen universities to join the WTO’s Chairs Programme

Seventeen universities from least-developed and developing country members have been selected as new members of the WTO’s Chairs Programme, Director-General Ngozi Okonjo-Iweala announced at a meeting of the Committee on Trade and Development on 10 November. She warmly welcomed these new participants and highlighted the importance of the Chairs Programme in enhancing knowledge and understanding of the international trading system among academics and policy makers in beneficiary countries.


DG Okonjo-Iweala also announced the intention to admit institutions more frequently to the WTO Chairs Programme on a rolling basis in the future. “Having looked closely into the existing structure of the Programme, I believe there is greater benefit to be had if we are to admit a smaller number of candidates more frequently, rather than a larger number in intervals of four years like in the past. This will allow us to make the programme even more representational, enhance its visibility and generate more momentum in the Chairs network and with members,” she said.

Deputy Director-General Xiangchen Zhang praised the achievements of the programme. He said: “For a decade, WTO Chairs have produced a significant amount of relevant research outputs and study programmes. On many occasions, they have provided evidence-based and applied research to policy makers and stakeholders to support trade policy formulation. This shows that the Programme has been fruitful and has long-term sustainability.”

Ambassador Muhammad Mujtaba Piracha, the Chair of the Committee on Trade and Development, said: “The Chairs Programme offers a platform for training new generations of trade experts, generating new ideas, insights and innovative responses to challenges facing our members. When members have evidence-based research, facts, figures and advice at their disposal, this promotes economically and legally sound policy choices in beneficiary countries.”

The WTO Chairs Programme was launched in 2010 as a capacity-building programme to improve knowledge and understanding of the multilateral trading system through the Chairs' teaching, research and outreach activities in developing and least-developed country members. An independent external evaluation in 2019 by SAANA Consulting showed that the Chairs Programme has played a unique role in generating trade expertise and providing policy advice to governments and other stakeholders in the regions.

The 17 new participants were selected from a total of 126 applications from academic institutions from 54 WTO members following a rigorous selection process led by the Chairs Programme Academic Advisory Board. Special attention was paid to selecting institutions from regions that were previously under-represented by the Programme and from least-developed countries. The 17 new members will join the Chairs Programme network, which will now consist of 36 universities. The expanded Chairs Programme network will strengthen the opportunities for peer-to-peer learning, collaboration between universities, and outreach activities with policy makers. 

The 17 selected institutions are:

1. Cameroon, Université de Yaoundé II ,Yaoundé

2. China, University of International Business and Economics, Beijing

3. Colombia, Universidad de los Andes, Bogotá

4. Costa Rica, Universidad Nacional, Heredia

5. Ecuador, Universidad Andina Simón Bolívar Sede, Quito

6. Egypt, Cairo University, Cairo

7. Ethiopia, Addis Ababa University, Addis Ababa

8. India, Indian Institute of Foreign Trade, New Delhi

9. Lesotho, National University of Lesotho, Maseru

10. Nepal, Kathmandu University School of Management, Lalitpur

11. Pakistan, Lahore School of Economics, Lahore

12. Peru, Pontificia Universidad Católica del Peru, Lima

13. Rwanda, University of Rwanda, Kigali

14. Chinese Taipei, National Taiwan University, Taipei

15. Tanzania, Trade Policy Training Centre in Africa, Arusha

16. Uzbekistan, The University of World Economy and Diplomacy of Uzbekistan, Tashkent

17. Viet Nam, Foreign Trade University, Hanoi

For more information, please visit the website of the WTO Chairs Programme.

www.wto.org/wcp

Published here

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posted by S A J Shirazi @ 11/26/2021 04:22:00 PM,

Innovation will help boost textile sector
September 29, 2016

Highlighting the dire situation faced by one of Pakistan’s key export orientated sector, the Lahore School of Economics conducted a research that concluded that the textile sector requires a continuous flow of technological innovations.


The research suggested the sector needs to constantly engage in product modernism to sustain its market share in global trade.

The textile sector, which aimed to double its exports from $13 billion to $26 billion after the European Union granted generalised scheme of preferences plus status to Pakistan from January 2014, is witnessing a gradual downfall after merely touching export revenue of $13.8 billion in fiscal year 2013-14. Textile exports in fiscal year 2015-16 stood at $12.45 billion.
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posted by S A J Shirazi @ 9/29/2016 10:41:00 AM,

Pakistan in the Global Economy – Opportunities and Challenges
March 27, 2014

Amidst distinguished economists, academicians and policymakers from both the national and international platforms, the Lahore School of Economics Tenth Annual Conference on Management of the Pakistan Economy concluded at its Main Burki Campus on Marc 27, 2014. The theme of the two days Conference was “Pakistan in the Global Economy – Opportunities and Challenges”.


The first day of the Conference (March 26, 2014) witnessed an interesting discussion on some key macroeconomic issues confronted by Pakistan including macroeconomic management under constrained balance of payments, exchange rate, imports and the world trading order. Dr Shahid Amjad Chaudhry, Rector, Lahore School of Economics, inaugurated the Conference by welcoming all the speakers and guests, with Dr Rashid Amjad, Director, Graduate Institute of Development Economics, Lahore School of Economics, delivering the keynote address focused on the historical perspective on growth spurts and reversals in the Pakistan economy.
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posted by S A J Shirazi @ 3/27/2014 06:19:00 PM,

Analysing Pakistan's Trade Opportunity with Turkey

Asha Gul, Lahore School of Economics


Pakistan and Turkey have long hailed a brotherly relation but lately the relationship between the two countries has been witnessing a new height in lieu of the increasing cooperation between the two governments in diversified sectors of economy and a proposed Preferential Trade Agreement. This paper explores the trade relationship between Pakistan and Turkey, in an attempt to analyze the potential gains for Pakistan under the proposed Preferential Trade Agreement. The paper evaluates the existence of potential trade opportunities using descriptive statistics and trade indices. More specifically, the paper computes a Trade Complementarity Index, Export Similarity Index and the Intra industry Index. The findings of the paper suggest that there lies an opportunity for Pakistan to exploit in its trading relationship with Turkey as Pakistan has been enjoying a trade surplus which can be expanded further, and strong export similarities and intra industry trade indicate the presence of greater opportunities for firm synergies between the two countries which can greatly facilitate Pakistan in achieving greater value addition and broader market base for its exports. Therefore, the government of Pakistan should lobby more strongly for the proposed Preferential Trade Agreement (which may later evolve into a Free Trade Agreement) and intelligently leverage this trade agreement in such a way that Pakistan can maximize its potential opportunities.
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posted by S A J Shirazi @ 3/27/2014 04:00:00 PM,

WTO New Trade Facilitation Agreement: Implications for domestic trade policy formulation of Pakistan
March 26, 2014

Dr. Mohammad Saeed, United Nations Conference on Trade and Development (UNCTAD)
(Paper presented by Ahmad Irfan Aslam)


Recognizing the significant contribution of trade facilitation in reducing costs and time in cross-border trade, the WTO Members adopted the new Agreement on Trade Facilitation (TFA) during the last Ministerial Conference in Bali. WTO Members are now gearing themselves to implement the commitments ensuing from the TFA, in accordance with the special and differential treatment for developing countries.
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posted by S A J Shirazi @ 3/26/2014 03:54:00 PM,

Pakistan’s Imports Dependency and Regional Integration

Dr. Ejaz Ghani, Pakistan Institute of Development Economics
(Paper co-authored with Nasir Iqbal and Musleh-Ud-Din)


Pakistan needs to import a variety of products to accomplish the increasing demands resulting from its industrial and consumer requirements. Major imports include items namely Machinery, Petroleum Products, Chemicals, Transport Equipment, Edible Oil, Iron, Steel, Fertilizer and Tea which together constitute around 70 percent of total imports. To strengthen trade ties especially with neighboring countries, Pakistan has undergone various regional and bilateral trade agreements which encompass various trade policies ranging from imports substitution to exports promotion. This paper will critically analyze the import structure and policy of Pakistan over the last three decades. It will also conduct an empirical analysis to find the determinants of imports especially after adjusting the role of regional or bilateral trading arrangements. The paper will also highlight potential areas where Pakistan can enhance its trade.
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posted by S A J Shirazi @ 3/26/2014 03:40:00 PM,

Improving Regional Trade to Support Pakistan’s Economic Growth

Dr. Manzoor Ahmad, USAID Pakistan Trade Project


Regional trade has been an important factor in the economic success of many countries. Within most trading blocs, intra-regional trade composes 40 percent or more of these countries’ individual trade; however, for the regional arrangements of which Pakistan is a member, intra-regional trade composes less than 5 percent. Pakistan’s strategic location is its greatest asset, but it has not leveraged this to its advantage.Until the 1960’s, Pakistan was a rather forward looking country. Our manufactured exports were higher than the manufactured exports of the Philippines, Thailand, Malaysia and Indonesia combined. Since the mid 1960’s, our policies have not been favourable to promoting trade and economic development.
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posted by S A J Shirazi @ 3/26/2014 03:00:00 PM,

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