Lahore School of Economics

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Lahore Journal of Economics - Special Issue

The Special Issue of the Lahore Journal of Economics (September 2015) is now available online.

The Special Edition contains the Papers and Proceedings from the Eleventh Annual Conference on the Management of the Pakistan Economy. The topic of the conference was “Pakistan as a Regional Manufacturing Hub – Prospects and Challenges,” and the objective of the conference organizers was to provide academics and policy makers with new ideas on growth strategies in the context of a changing global environment.

The conference was held on the 25th and 26th of March, 2015 and looked at both the macroeconomic and the microeconomic issues that have historically hampered the development of Pakistan’s manufacturing sector as well as the prospects for future growth in the sector. The Lahore School gathered world-class academics, policy makers, practitioners and members of the business community to discuss these issues and lay the groundwork for a coherent industrial strategy. The speakers presented on issues related to industrial policy, the strengths and weaknesses of the Pakistani manufacturing sector and the macroeconomic conditions that have helped and hindered industrial growth in Pakistan over the last few decades.

Though the conference topic was complex, some important themes emerged from the presentations and discussions:

First, there is a growing recognition amongst academics and the business community that a coherent industrial policy for Pakistan is required and this must be urgently undertaken by the government.

Second, there is a glaring vacuum when it comes to any viable financing mechanisms for industries, which needs to be immediately addressed. On the urging of the Western financial institutions, all the development finance institutions in Pakistan were dissolved and the present financial sector is unwilling and unable to fill this gap.

Third, policy makers and academics must interact with industries and firms at a micro-level to begin understanding the key constraints to growth they face; it is no longer sufficient to just blame energy shortages and lack of government policy for faltering manufacturing sector growth.

Finally, the only way the manufacturing sector can practically grow is if it begins to focus on technology upgradation, innovation and productivity improvement. This has to be done by industry, academia, and government joining hands and incorporating these priorities into its industrial policy.

The Special Edition of the Lahore Journal of Economics is available online here

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posted by S A J Shirazi @ 10/22/2015 04:19:00 PM,

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