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Tables of Contents for External Shocks and Domestic Adjustment
Chapter/Section Title
Page #
Page Count
Foreword
xi
1. Introduction
1
16
The Objective of the Study
1
3
The Core Relationships
4
1
A Historical Perspective
5
12
THE BALANCE-OF-PAYMENTS PROBLEM
17
30
2. Trade and Financial Linkages with the Rest of the World
17
15
The Balance-of-Payments Situation
20
3
The Aid-to-Pakistan Consortium
23
3
Merchandise Trade
26
3
The Burden of External Debt
29
3
3. External Shocks and the Balance of Payments
32
15
The Methodology
33
1
The Results
34
4
Capital Outflow and Net Acquisition of External Assets
38
1
The Definition of Private Capital Outflow
39
3
Estimates of Private Capital Outflow
42
5
THE ACCUMULATION BEHAVIOUR OF INSTITUTIONAL AGENTS
47
18
4. The Accumulation Behaviour of Institutional Agents
47
18
The Capital Accounts of Institutional Agents
47
3
The Saving Behaviour of Institutional Agents
50
5
The Determinants of the Saving and Investment Behaviour of Institutional Agents
55
3
The Determinants of Investment
58
7
FINANCIAL INTERMEDIATION AND DOMESTIC ADJUSTMENT
65
30
5. The Institutional Framework
65
11
The Financial System in Pakistan
65
7
Credit Allocation
72
1
The Capital Market
73
3
6. The Flow of Funds Accounts
76
19
The Framework of the Flow of Funds Accounts
76
3
Intersectoral Flows
79
6
Gross Savings, Real Investment, and Net Financial Investment
85
3
Adjusting to Public Sector Deficits
88
7
POLICY REGIMES
95
12
7. External Shocks and the Efficiency of Policy Regimes
95
12
Period I: 1970-1977
96
3
Period II: 1978-1986
99
3
Period III: 1987-1990
102
5
CONCLUSIONS
107
12
8. Conclusions
107
12
Notes
119
5
References
124
5
Index
129