Comparing Industrialization in Pakistan and the East Asian Economies

Rajah Rasiah, Nazia Nazeer
2016 THE LAHORE JOURNAL OF ECONOMICS  
Drawing on the successful industrialization and catch-up experience of the UK, the US, Germany, France, Italy, Sweden and Japan, and later South Korea and Taiwan, we argue that industrialization is a necessary phase for normal economies to stimulate rapid economic growth and structural change. This paper compares Pakistan's industrialization with that of selected economies in East Asia. The evidence shows that Pakistan not only has the lowest GDP per capita of this group, it has also
more » ... has also industrialized the least. Pakistan enjoyed its highest manufacturing growth rates in the 1950s and 1960s. Thereafter, manufacturing grew slowly and unevenly until the 1990s and 2006, largely through clothing exports.
doi:10.35536/lje.2016.v21.isp.a7 fatcat:mg43iq6savfjzp5xjsai3ohy54