From Swimming in Sand to High and Sustainable Growth

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.

Bibliographic Details

Main Author:	World Bank Group
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2022
Subjects:	ECONOMIC GROWTH, PRODUCTIVITY CHALLENGES, TRADE POLICIES, AGRICULTURAL PRODUCTION, CLIMATE CHANGE, FIRMS, FOREIGN DIRECT INVESTMENT, FEMALE LABOR FORCE,
Online Access:	http://documents.worldbank.org/curated/en/099820410112267354/P1749040fc80a70ca0b6f70f7860c4a1034 https://hdl.handle.net/10986/38133
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