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Articles 451 - 480 of 532

Full-Text Articles in Economics

The Health Challenge In Pakistan: Prognosis And Prescription, Ishrat Husain Dr. May 2005

The Health Challenge In Pakistan: Prognosis And Prescription, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

There is a strong theoretical and empirical evidence that Economic growth causes improvements in human development which, in turn, increases economic growth. The improvement in health results in enhancement of basic capabilities that adds value to human life. The transmission to growth takes place through impact on worker productivity, through demography and through trade and investment. Health has a positive effect on poverty reduction too. Poor households are hit by major illness and fall into poverty trap. Lower earnings due to withdrawal from full time employment increases the risk of illness for the rest of the households. Risk of falling …


Distributing Benefits Of Growth To The Majority, Ishrat Husain Dr. May 2005

Distributing Benefits Of Growth To The Majority, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The major recurring themes in the popular discussion on the economy have been shifting over the last six years. In the earlier years of the Musharraf period it was widely believed that the country was going to default on its external obligations. When this did not happen there was a loud consensus that Pakistan would not be able to comply with the stringent conditionalities of the IMF and would, sooner or later, get off the track. Since the country successfully completed the programme, the concern was raised that we had emphasized too much on macroeconomic stabilization such as large foreign …


National Economy And Impact Of Foreign Aid, Ishrat Husain Dr. May 2005

National Economy And Impact Of Foreign Aid, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

OUTLINE: I. Types and Forms of Aid/Loans II. Role of Donor Agencies and their Conditionalities III. Impact of Foreign Aid on National Economic Policy IV. Current state of the Economic Policy V. Prospects and Challenges


Sme Financing: Issues And Strategies, Ishrat Husain Dr. May 2005

Sme Financing: Issues And Strategies, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

It is an honour for me to welcome you all and particularly Mr. President to this Conference on SME Financing: Issues and Strategies. I wish to thank you Mr. President, Sir, for your continued support in our efforts to develop a vibrant SME sector as an integral part of the poverty reduction strategy. You have spelled out this strategy on several occasions very clearly and I would like to dwell upon it this morning. But I would like to assure you that this conference is a modest contribution towards the fulfillment of that strategy. I would also like to welcome …


Globalization, Regional Integration, And National Development, Ishrat Husain Dr. May 2005

Globalization, Regional Integration, And National Development, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would, at the outset, like to welcome the foreign delegates and particularly those from the countries in the South Asia Region. I am extremely happy to join you on this occasion and thank you for inviting me, once again, to this important event. The views that I would like to share with you this evening will focus on the economic situation globally, regionally within Asia and South Asia and nationally within the South Asian Countries. I will then briefly examine the prospects and challenges that face our region in moving forward in this age of globalization and integration to …


Sustainable Growth In Financial Sector Of Pakistan, Ishrat Husain Dr. Apr 2005

Sustainable Growth In Financial Sector Of Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

It is pertinent to ask whether the reforms brought about in the financial sector of Pakistan will persist generating sustainable growth in the sector or quickly dissipate. In my view there are at least eight factors that attest to the sustainability of growth in the financial sector. Of course, the sector cannot be divorced from the overall external, domestic and macroeconomic conditions. If there is a breakdown in political stability or macroeconomic situation is under stress, then these factors will not be operative. This analysis assumes stability, continuity of good policies and good governance. What are these factors


Financing Human Development In Pakistan, Ishrat Husain Dr. Apr 2005

Financing Human Development In Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

No abstract provided.


Economy Of Pakistan: An Overview, Ishrat Husain Dr. Feb 2005

Economy Of Pakistan: An Overview, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Pakistan was one of the few developing countries that had achieved an average growth rate of over 5 percent over a four decade period ending 1988-89. Consequently, the incidence of poverty had declined from 40 percent to 18 percent by the end of the 1980s. Table I lays down the main economic and social indicators in 1947 and compare them with 2004. The overall picture that emerges from a dispassionate examination of these indicators is that of a country having made significant economic achievements but a disappointing record of social development. The salient features of Pakistan’s economic history are


Corporate Governance In The Financial Sector, Ishrat Husain Dr. Jan 2005

Corporate Governance In The Financial Sector, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to address the following four questions in my presentation this morning: (a) Why do we require Corporate Governance in the Financial Sector? (b) What does Good Governance Involve? (c) What has been done so far in Pakistan? (d) What are the Challenges Ahead? Why do we require Corporate Governance in the Financial Sector? Corporate Governance has become critical for all entities and, therefore, the codes of Corporate Governance or legislations are being adopted increasingly by the organized sectors in the developed and developing countries. However, there are some additional reasons that are unique to the financial sector …


Globalization - Challenges To Pakistan Economy: Role Of The State Bank Of Pakistan, Ishrat Hussain Dr. Jan 2005

Globalization - Challenges To Pakistan Economy: Role Of The State Bank Of Pakistan, Ishrat Hussain Dr.

Faculty Research - Talks, Speeches, & Discourse

Globalization - The Phenomena: Presently the term "Globalization" has gained an emotive tinge. Few believe it as an inevitable and irreversible process that will catapult future world economic development; others discern it with antagonism and fear that it will thwart social progress in the context of developing countries, creating enhanced disparity within and between nations, creating unemployment and poorer living standards.


Financing Smes: Issues And Prospects, Ishrat Hussain Dr. Jan 2005

Financing Smes: Issues And Prospects, Ishrat Hussain Dr.

Faculty Research - Talks, Speeches, & Discourse

The overall objective of the Conference is to bring together all the stakeholders in the SME sector to generate debate on the issues confronting the sector and look at the various strategies being developed at the regulatory and policy level to increase the flow of credit and financial services to this very important sector of our economy. There exists strong evidence that SMEs expansion boosts employment more than large firm growth because SMEs are more labour intensive. In Pakistan, the SME sector contributes 30 percent towards the country's GDP, along with agriculture provides 90 percent of the jobs, accounts for …


Banking Sector Reforms In Pakistan, Ishrat Husain Dr. Jan 2005

Banking Sector Reforms In Pakistan, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Why did we need reforms in the banking sector in the first place? Why is it so important to have healthy and buoyant banks? What is the exact role of State Bank of Pakistan and how does it go about performing this role? Where does the Government come in this picture? How do these reforms serve the interests of a common citizen as a consumer, depositor, and businessman? These and a host of other questions arise in the minds of a layman who is not so familiar with all the jargon and specialized terminology of finances.


Unleashing Entrepreneurship, Ishrat Husain Dr. Dec 2004

Unleashing Entrepreneurship, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I wish to commend the FPCCI and UNDP for launching the Report of the Commission appointed by the Secretary General on Unleashing entrepreneurship. The Commission had learned scholars and practitioners such as Prof. C. K. Prahalad and Mr. Hernando de Soto as members for whose views on poverty alleviation are highly refreshing and I have great respect for them. The Report reflects their views and hence the Report is not only useful but practicable. The Commission has made an extremely important contribution to the debate on how to harness the energies and entrepreneurs of the private firms, farmers, businesses – …


False Dawn Or A Promising Start?, Ishrat Husain Dr. Dec 2004

False Dawn Or A Promising Start?, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

There are others who believe that the country has made a promising start and that the reforms undertaken during the last five years are sustainable and this will change the economic landscape of the country over time. The arguments advanced by the 'false dawn' proponents are, however, quite varied.


Comparison Of Pakistani Economy With Asean Economies, Ishrat Husain Dr. Nov 2004

Comparison Of Pakistani Economy With Asean Economies, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

It is now widely accepted that the Asian economies have done extremely well in terms of economic growth and poverty reduction during the last three to four decades or so despite the crisis of 1997. Three decades ago, China was among the World’s poorest countries with 80 percent of the population having incomes less than US$1 per day and only a third of all adults able to read or write. By 2000 the proportion of the poor (income less than US$1 per day) had declined to around 16 percent. Korea and Pakistan had identical per capita incomes of $100 in …


My Vision For Pakistan's Financial Sector, Ishrat Husain Dr. Sep 2004

My Vision For Pakistan's Financial Sector, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

To that extent, this transformation of BMA into a large firm provides us, the regulators, a little bit of comfort. My vision for Pakistan's financial sector envisages a continuum on the domestic front with well-functioning capital markets at one end, the banking system in the middle and micro-finance institutions at the other end. I stress the word 'continuum' in which all constituents are interlinked and a lot of flexibility exists through-out the value chain rather than vertical silos or compartments which stand in isolation with each other.


Fostering Good Corporate Governance, Ishrat Husain Dr. Aug 2004

Fostering Good Corporate Governance, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to begin by extending my heartfelt felicitations to all those companies who have been chosen to receive the awards on Best Corporate Reporting this evening. I would also like to commend ICAP and ICMAP for instituting these awards, holding public ceremonies to acknowledge the winners and continuing with the tradition for last several years. As you may have heard me say so often that we are very generous at finding faults and putting people and institutions down but very stingy in acknowledging success and appreciating those individuals, firms, institutions which have excelled in their respective fields. If …


Developing Human Resources For The Financial Sector, Ishrat Husain Dr. Aug 2004

Developing Human Resources For The Financial Sector, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I am extremely pleased to be present here at Faisalabad this evening to launch this joint program of Masters in Banking and Finance Services organized jointly by the Institute of Bankers Pakistan and the University of Faisalabad aimed at up gradation of the skills of banking industry in Pakistan. I would like to commend the University authorities for participating in this endeavour. This is all the more important because there are good institutes which cater to the needs of students in Karachi, Lahore and Islamabad but there are very few quality institutions of higher learning outside these centers. This program …


Vision For Pakistan’S Financial Service Industry, Ishrat Husain Dr. Jul 2004

Vision For Pakistan’S Financial Service Industry, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I am extremely happy to be present here this evening on the occasion of the signing of the joint venture partnership agreement between BMA Capital and Abraaj Capital. This partnership will raise the capital of the company to a level where it can get into new areas of business. I would like to congratulate the sponsors, management and staff of both these companies on their successful transaction and hope they will use this expanded platform to launch new products and services which will be focus of my remarks this evening.


Reducing Poverty Or Redistributing Income?, Ishrat Husain Dr Jul 2004

Reducing Poverty Or Redistributing Income?, Ishrat Husain Dr

Faculty Research - Newspaper and Magazine Articles

If there were violent fluctuation and swings in exchange rate, interest rate, tax rate and tariff rate then it becomes extremely difficult for a businessman to cost his products in a realistic manner and earn a decent rate of profit.


Why Lend To Small And Medium Enterprises?, Ishrat Husain Dr. Apr 2004

Why Lend To Small And Medium Enterprises?, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Why should commercial banks lend to Small and Medium Enterprises (SMEs)? They haven’t done this before. What has happened that they should do it now? Aren’t there higher risks of default and non-payment in case of these types of borrowers? These are legitimate questions and I would like, this morning, to focus on five different aspects of this issue: a) The overall context and direction of commercial bank lending. b) Win-win situation for the banks, entrepreneurs and national economy. c) Credit appraisal technology for SMEs. d) Regulatory and infrastructure support. e) Learning from international best practices.


Private Sector, Govt And Pakistan's Economic Progress, Ishrat Husain Dr. Mar 2004

Private Sector, Govt And Pakistan's Economic Progress, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan has made considerable progress during the last 55 years since its independence. The article discusses the respective roles of government and private sector in development, arguing that markets need government and government needs markets for inclusive economic progress.


Why Pakistan Should Exit The Imf Programme?, Ishrat Husain Dr. Feb 2004

Why Pakistan Should Exit The Imf Programme?, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan has formally conveyed its decision that the country does not wish to enter into a successor agreement with the IMF on completion of the current PRGF Programme at the end of 2004. This decision has evoked two kinds of responses – one that of relief that we will no longer be subjected to the harsh conditionalities of the Fund and second that of disbelief that the country is not yet ready to shed off this yoke and even if this is done it will only be for a temporary duration – in other words, it will not be sustainable.


Financial Sector Reforms And Pro-Poor Growth: Case Study Of Pakistan, Ishrat Husain Dr. Feb 2004

Financial Sector Reforms And Pro-Poor Growth: Case Study Of Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The attributes of a well functioning financial system are quite well known by now. Such a system is necessary for enhancing the efficiency of intermediation, which is achieved by reducing information, transaction, and monitoring costs; for promoting productive investment by identifying and funding good business opportunities; for mobilizing domestic savings; for monitoring the performance of businesses; for enabling the trading, hedging, and diversification of risk; and for facilitating the exchange of goods and services. These functions result in allocation of resources to the most efficient, resulting in a more rapid accumulation of physical and human capital, and faster technological progress, …


Lessons For Poverty Reduction: The Experience Of Aga Khan Rural Support Programme, Ishrat Husain Dr. Dec 2003

Lessons For Poverty Reduction: The Experience Of Aga Khan Rural Support Programme, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I am grateful to the organizers of this Conference for providing me the opportunity to address this august gathering of scholars, practioners, donors, public and civil society institutions and ultimate beneficiaries of rural development policy and progammes, not only in Pakistan, but also from our neighbouring countries in South, West and Central Asia. I have had the pleasure of keeping in touch with the AKRSP since its inception through my senior colleague and teacher, Mr. Shoaib Sultan Khan. His commitment, sense of dedication and sincerity have turned this small experiment into an international success story. In my previous incarnation as …


Banking Sector: Developments, Challenges, And Opportunities, Ishrat Husain Dr. Dec 2003

Banking Sector: Developments, Challenges, And Opportunities, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Pakistan’s banking sector like many other developing countries had been faced with several problems and difficulties such as: (1) Most of the financial assets and deposits were owned by nationalized commercial banks (NCBs) which suffered from a highly bureaucratic approach, overstaffing, unprofitable branches and poor customer service. (2) NCBs along with specialized banks such as ADBP, IDBP and Development financial institutions such as NDFC had a high ratio of non-performing loans. (3) Banking industry faced a high tax rate, which affected its profitability and attractiveness for new entrants. (4) There was a proliferation of banks and some of them were …


Sme Financing – Issues And Prospects, Ishrat Husain Dr. Oct 2003

Sme Financing – Issues And Prospects, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to congratulate SMEDA on bringing together all the stakeholders together to discuss the issue related to financing of SMEs in Pakistan. I have listened to the presentations and also the interventions from the floor very carefully. Let me therefore share my thoughts with you on this important topic. We should start with the basics. As you have heard, from the presentations this evening, there is a tremendous demand of bank credit by the SMEs who are at present meeting most of their financing needs through friends, relatives and other informal sources. At the same time the banks …


Human Resource Management In Practice: A Case Study Of State Bank Of Pakistan, Ishrat Husain Dr. Oct 2003

Human Resource Management In Practice: A Case Study Of State Bank Of Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I am happy to address this august gathering of Human Resource Professionals. I had two options this morning. The first was to repeat the clichés and platitudes about the importance of human resource management in economic development and for organizational effectiveness. But considering that all of you are highly qualified practitioners in this field. I thought you would find this kind of address boring and unsatisfactory. Therefore, being faithful to the theme of this Conference I decided to present a case study at this session. Without being self-serving, I would like to share the lessons we have learnt during the …


Development Strategy Of Punjab, Ishrat Husain Dr. Sep 2003

Development Strategy Of Punjab, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to congratulate the Punjab Government for taking this initiative to organize this Development Forum and thank them for inviting me to participate. It is high time that the provinces should take stock of their approach to development and poverty reduction and introduce new measures which will make the difference in the lives of their citizens. The population of this province has multiplied four times during the last fifty years rising from 20 million in 1951 to almost 80 million today. The dynamics have changed so fast that the districts of Lahore and Gujranwala divisions have a much …


Now For The Hard Part, Kevin Hamlin, Assif Shameen Sep 2003

Now For The Hard Part, Kevin Hamlin, Assif Shameen

Faculty Research - Newspaper and Magazine Articles

Investors, and Pakistani citizens, might be forgiven for adopting a similar refrain today. Pakistan's leader, General Pervez Musharraf, has held power for four years following his ouster of Prime Minister Nawaz Sharif in a bloodless coup in October 1999.