Manes, Eric2013-02-202013-02-202009-12https://hdl.handle.net/10986/12412Pakistan has faced a seismic shift in its global and domestic economic landscape which until recently limited policy options to address investment climate concerns. External shocks, internal policy inaction and political turmoil placed the country in a precarious economic condition, calling on the authorities to take a hard look at the policy choices ahead. Macroeconomic instability resulting in inflation, exchange rate depreciation, and a rapid depletion in foreign reserves became acute in 2007-08, with the adjustment accompanied by a reduction in investment, export and output growth. The recent slowdown in global demand for world trade along with supply shocks from the domestic economy has exacerbated an already monumental challenge for Pakistani firms to prosper and policy makers to respond. As external market conditions and Pakistan's own stabilization program temper economic expectations, opportunities abound to lay the foundation for expansion. Given Pakistan's geopolitical positioning, growing labor participation rates, and improvements in the standard of living, significant poverty outcomes can be achieved through sustained economic growth. Even, in the short run, during periods of slower growth, banking system weakness, and corporate distress, Pakistan can take the opportunity to position itself for the inevitable global rebound. Concerted efforts now can improve firm level productivity, fluidity of markets for labor, capital and land, as well as goods, and therefore, better resource use and global competitiveness.en-USCC BY 3.0 IGOACCESS TO BANKACCOUNTINGADEQUATE RESPONSEALLOCATIVE EFFICIENCYAUDITSAVERAGE PRODUCTIVITYBANK ACCOUNTBANK FINANCINGBANK LENDINGBANKING SECTORBANKING SYSTEMBARRIERS TO ENTRYBENEFICIARIESBLUE CHIPBOND INDEXBUSINESS CLIMATEBUSINESS ENVIRONMENTCAPITAL ACCUMULATIONCAPITAL MARKETCENTRAL BANKCHECKSCOALCOLLATERALCOLLATERAL REQUIREMENTSCOLLATERAL SYSTEMSCOLLATERALSCOMMODITYCOMMODITY PRICECOMMODITY PRICESCOMMUNICATION TECHNOLOGIESCOMPARATIVE ANALYSISCONSUMER PRICE INDEXCONTRACT ENFORCEMENTCORPORATE GOVERNANCECORPORATE INSOLVENCYCORPORATE LAWCPICREDIT DECISIONSCREDIT INFORMATIONCREDIT INFORMATION SYSTEMSCREDIT MARKETCREDITORCREDITOR RIGHTSCROSS SUBSIDIZATIONCURRENCYDEBTDEFICITSDEREGULATIONDEVELOPING COUNTRIESDEVELOPMENT BANKDISPUTE RESOLUTIONDOMESTIC ECONOMYDOMESTIC MARKETSECONOMIC DOWNTURNECONOMIC GROWTHEMERGING MARKETEMERGING MARKET BONDEMPIRICAL ANALYSISENERGY EFFICIENCYENFORCEABILITYENFORCEMENT OF CONTRACTSENTERPRISE PERFORMANCEENVIRONMENTALEQUILIBRIUMEQUIPMENTEXCHANGE COMMISSIONEXCHANGE RATEEXCHANGE RATESEXPANSIONARY POLICYEXPENDITUREEXPORT COMPETITIVENESSEXPORT GROWTHFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL STRUCTURESFINANCIAL SUPPORTFINANCIAL SUSTAINABILITYFIRM ASSETSFIRM PERFORMANCEFISCAL DEFICITFISCAL DEFICITSFLEXIBLE EXCHANGE RATESFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN INVESTMENTGLOBALIZATIONGOVERNANCE INDICATORSGOVERNANCE ISSUESGROSS DOMESTIC PRODUCTGROWTH RATEGROWTH RATESHOLDINGHOUSEHOLD INCOMESIMMOVABLE PROPERTYINCOMEINCOME LEVELSINFLATIONINFORMAL FINANCEINFORMATION TECHNOLOGYINFRASTRUCTURE DEVELOPMENTINFRASTRUCTURE FINANCEINSOLVENCY REGIMEINSTITUTIONAL ENVIRONMENTINSURANCEINSURANCE INDUSTRYINTELLECTUAL PROPERTYINTEREST RATEINTEREST RATESINTERNATIONAL COMPETITIONINTERNATIONAL DEVELOPMENTINTERNATIONAL STANDARDINTERNATIONAL STANDARDSINVENTORYINVESTMENT CLIMATEINVESTMENT DECISIONSINVESTMENT FINANCEINVESTMENT RATESINVESTMENT REGIMEJOINT VENTURESJUDICIAL SYSTEMLABOR FORCELABOR MARKETLABOR MARKETSLABOR PRODUCTIVITYLACK OF TRANSPARENCYLAND TITLELAND TITLINGLEGAL FRAMEWORKLEGAL RIGHTSLEGISLATIVE FRAMEWORKLENDERSLENDING PORTFOLIOLEVEL PLAYING FIELDLIENLINES OF CREDITLIQUIDATIONLOANLOAN PROCESSINGLOAN SIZESLOCAL BUSINESSLONG-TERM INVESTMENTSMACROECONOMIC INSTABILITYMACROECONOMIC MANAGEMENTMACROECONOMIC POLICIESMACROECONOMIC STABILITYMARKET CONDITIONSMARKET CONSTRAINTSMARKET DEPTHMARKET INFORMATIONMARKET MECHANISMSMARKET POWERMARKET SHAREMARKET SHARESMONETARY FUNDMONETARY POLICIESMONETARY POLICYMOVABLE COLLATERALSMOVEABLE COLLATERALNATIONAL SAVINGSOILOPEN MARKETSOUTPUTPATENTSPOLICY MAKERSPOPULATION GROWTHPOWER OUTAGESPRICE CHANGESPRIVATE INVESTMENTPRIVATE INVESTMENTSPRIVATE PROPERTYPRIVATE SECTOR DEVELOPMENTPRODUCTIVITY GROWTHPROPERTY RIGHTPROPERTY RIGHTSPROTECTION OF INVESTORPRUDENTIAL REGULATIONSPUBLIC GOODSPUBLIC INVESTMENTREGISTRATION PROCESSREGULATORSREGULATORY AGENCYREGULATORY FRAMEWORKREGULATORY SYSTEMRESERVERESERVE REQUIREMENTRESERVESRESOURCE ALLOCATIONRESOURCE USERETAINED EARNINGSRETURNRETURNSRISK MANAGEMENTSAFETY NETSAFETY NETSSECURITIESSECURITY INTERESTSSETTLEMENTSOCIAL SAFETY NETSSTABILIZATION POLICYSTATE BANKSUPPLY SHOCKSTAXTAX CODETAX COLLECTIONTAX POLICYTAX RATETAX RATESTAX SYSTEMTECHNOLOGY TRANSFERTELECOMMUNICATIONSTRADE BALANCETRADE CREDITTRADINGTRANSACTIONTRANSPARENCYUNEMPLOYMENTUNEMPLOYMENT RATEWAGESWASTE MANAGEMENTWORKING CAPITALWORLD TRADEWorld Bank10.1596/12412