Description

This book provides a concise review of theories presented overtime, conflict between trade and growth, the role of trade in economic development, and export promotion versus import-substitution with particular reference to Pakistan. Import-substitution or export promotion especially of manufactured goods discussion during the 1970s stressed the importance of export promotion. The review of Pakistan's trade regime demonstrates that there has been an anti-export bias up to 1980s. However, during 1990s, government adopted a number of measures to make the trade regime adequately open and liberal in response to the changing global conditions. The three models dealing with overall economy, exports and imports have explored the important aspects of Pakistan's foreign trade regime. Exports serve more as a "handmaiden of growth" than as "an engine of growth" in Pakistan's economy. Policy-makers and students in the developing countries will find the book very useful for addressing and analyzing trade-related and macroeconomic problems facing these countries.