Publication: From Swimming in Sand to High and Sustainable Growth: A Roadmap to Reduce Distortions in the Allocation of Resources and Talent in the Pakistani Economy
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Date
2022
ISSN
Published
2022
Author(s)
World Bank Group
Abstract
This report focuses on growth in
Pakistan, and on key aspects of its proximate determinants:
productivity, capital, and talent accumulation. Productivity
is crucial in accounting for differences in standards of
living across countries and time. In addition, and
particularly at the level of development of Pakistan, factor
accumulation, investment, and human capital, also matters.
Specific and policy relevant questions around these broad
themes are this report's center of attention. The
underlying framework of analysis and orientation of public
policy recommendations is what is known as the
'ABC' of growth. This 'ABC' implies
improving allocative efficiency of resources and talent,
encouraging business-to-business connections and spillovers,
and strengthening firms' capabilities. Public policies
oriented to create an enabling environment around these
three pillars will be powerful in boosting sustainable
growth. However, the efficient allocation of talent and
resources, and the business-to business interactions leading
to spillovers and the conditions to upgrade capabilities,
are limited by economic distortions (or market failures)
that inhibit the growth process, sometimes making it as
difficult as swimming in sand.
Citation
“World Bank Group. 2022. From Swimming in Sand to High and Sustainable Growth : A Roadmap to Reduce Distortions in the Allocation of Resources and Talent in the Pakistani Economy. Pakistan Economic Memorandum;. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/38133 License: CC BY 3.0 IGO.”