DTIC ADA529458: Defense Expenditures in Pakistan: A Source of Stimulus for or Competition With the Private Sector PDF
Preview DTIC ADA529458: Defense Expenditures in Pakistan: A Source of Stimulus for or Competition With the Private Sector
Report Documentation Page Form Approved OMB No. 0704-0188 Public reporting burden for the collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to Washington Headquarters Services, Directorate for Information Operations and Reports, 1215 Jefferson Davis Highway, Suite 1204, Arlington VA 22202-4302. Respondents should be aware that notwithstanding any other provision of law, no person shall be subject to a penalty for failing to comply with a collection of information if it does not display a currently valid OMB control number. 1. REPORT DATE 3. DATES COVERED 1994 2. REPORT TYPE 00-00-1994 to 00-00-1994 4. TITLE AND SUBTITLE 5a. CONTRACT NUMBER Economic Journal Vol. XXVII No. 1 & 2 5b. GRANT NUMBER 5c. PROGRAM ELEMENT NUMBER 6. AUTHOR(S) 5d. PROJECT NUMBER 5e. TASK NUMBER 5f. WORK UNIT NUMBER 7. PERFORMING ORGANIZATION NAME(S) AND ADDRESS(ES) 8. PERFORMING ORGANIZATION Department of Economics,Government College,Lahore - Pakistan, , REPORT NUMBER 9. SPONSORING/MONITORING AGENCY NAME(S) AND ADDRESS(ES) 10. SPONSOR/MONITOR’S ACRONYM(S) 11. SPONSOR/MONITOR’S REPORT NUMBER(S) 12. DISTRIBUTION/AVAILABILITY STATEMENT Approved for public release; distribution unlimited 13. SUPPLEMENTARY NOTES 14. ABSTRACT 15. SUBJECT TERMS 16. SECURITY CLASSIFICATION OF: 17. LIMITATION OF 18. NUMBER 19a. NAME OF ABSTRACT OF PAGES RESPONSIBLE PERSON a. REPORT b. ABSTRACT c. THIS PAGE Same as 30 unclassified unclassified unclassified Report (SAR) Standard Form 298 (Rev. 8-98) Prescribed by ANSI Std Z39-18 GOVERNMENT COLLEGE ECONOMIC JOURNAL VoIUIlll': XXVII tl.J<J4 Numlll'r 1&: 2 () DEFENSEEXPENDITURESINPAKISTAN: ASOURCEOFSTIMULUSFOR OR COMPETITIONWITH THE PRIVATESECTOR? RobertE.Looney 1 () FORESTRYAND ENVIRONMENTAL DEGRADATIONINPAKISTAN MahmoodIqbal Sheikh 29 () THEPROCESSOFBUDGETMAKING IN PAKISTAN Arif Sultan 51 () ESTIMATIONOF PRODUCTION FUNCTION FORWHEATCROP M.YaqubChishli. 69 C) BOOK REVIEW DaisAslam 81 DEPARTMENT OF ECONOMICS GOVERNMENT COLLEGE. LAHQRE - PAKISTAN DEFENSE EXPENDITURES IN PAKISTAN: A SOURCE OF STIMULUS FOR OR COMPETITION WITH THE PRIVATE SECTOR? By Robert E. Looney· Introduction: & Toward the end of 1988, Pakistan's deteriorating resource situation caused a financial crisis, many remnants of which still exist today. In 1988 the Government's budget deficit reached 8.5% of Gross Domestic Product (GDP), inflation accelerated, the current account deficit doubled to 4.3% ofGross National Product (GNP), the external debt service ratio reached 28% of export earnings, and foreign exchange reserves fell in halfto $438 million, equal to less than three weeks ofimports.! These developments have eroded the ability of the government to affect the country's development process. In fact, the encouragement of private sector activity, particularly investment, is the only viable option open to the authorities. It follows that for policy purposes the most important issue involves restructw'ing government expenditures and their financing in a manner that would provide the maximum inducement to private sector capital formation, especially in manufacturing. Operationally, this means finding an optimal balance between the government's three most important budgetary items: defense, public consumption and infrastructural development. More importantly because there is *Pl'ofessol', National Secw'ity Mfail's Naval Postgraduate School Moneterey, California93943 USA 1
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