MACROECONOMIC ADJUSTMENT IN THE ERA OF GLOBALISATION
The purpose of the meeting is to provide a forum where leading professional economists and policy-makers can exchange ideas on the vital economic problems facing Pakistan. With the passage of time, the philosophy behind the process of development has undergone a profound change. There is now, as never before, an increasing awareness of the complexities involved in the development process which has engendered both pessimism and a greater sense of realism. The development experience of Pakistan provides ample evidence of the difficulties involved in the efforts to extricate developing societies from the quagmire of poverty and economic deprivation. Here we see the perennial trade-off between growth and equity, the interminable debate about the relative strengths of the invisible hand of the market and the visible hand of the State, the dangers posed by uncontrolled population growth, the consequences of following an inefficient, inward-looking industrialization policy and the counter-productive nature of accelerated industrialization at the expense of agricultural growth. The Annual General Meeting of the Society is the occasion for stock taking of the work done on these problems at the PIDE and elsewhere and to suggest new initiatives for further research. These meetings provide a medium of communication between the high priests of the economics profession, the lay policy-makers and the interested observers of this debate.
PAPERS PRESENTED AT THE 12th ANNUAL GENERAL MEETING OF PSDE – 1996
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