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JUJ J J pp i in Pakistan An Overview
Figure 4a National Saving and Investment 197273 to 198788
Figure 6a Actual Equilibrium Deficits for Pakistan
adjustment April 1991 April Augmented Dickey-Fuller test averaged base money central bank coefficient consumption function currency current account deficit financing deficits and inflation deficits in Pakistan depreciation developing countries disposable income domestic debt domestic nonbank borrowing economic effects of fiscal eighties equation estimated exchange rate external debt external financing external funds federal and provincial Figure fiscal policy foreign GDP deflator government consumption growth of base high fiscal deficits hyperinflation Incremental Capital-Output Ratio indirect taxes inflation rate inflation tax Instrumental variables investment in Pakistan l/2 percent macroeconomic performance money financing nominal interest rate Panel percent of GNP period permanent income portfolio private capital stock public capital stock public consumption public investment Public Sector Deficits pxnoA rate of inflation real output remittances residual root tests seignorage simulations spending tax revenue trade balance trade taxes unit roots variables