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Long Run Growth Of Pakistan

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Long-run Growth in Pakistan Ashoni Kumar April 26, 2015 Abstract: Growth rate of Pakistan over the past sixty years have been both impressive as well as disappointing too. The reason why the economy is recognized being impressive is because of the rapid growth rate that had its quadrupling impact over per capita income as well as reduction in the poverty. During the same span of time the country fairly performed in sustain inflation too. Later, the structural transformation in areas of financial and administrative sector brought harm by converting an agrarian economy in to more diversify industrialized economy. Social indicators suggests us that Pakistan is being ranked being 134th among 177 countries in terms of Human development index and also in terms of Income inequality index because there exist a lot of disparity in terms of urban rural segregation, gender differences and this all has worsen over time. Pakistan is lagging behind many other countries belonging to the Est Asian Countries and most recent is an example of India with its impressive integration as far as world economy is concerned. Economic History of Pakistan: The economic past of Pakistan begins with its independence in 1947. Pakistan’s economy is a semi-industrialized economy that used to be largely dependent upon textile, agriculture and food production. Although over years there is a recent advancement observed in areas of technological diversification but the country still needs to
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