Quote:
Originally Posted by mjkhan
yes indeed economic performance was much better in dictatorship than in democracy but why?
1.how can military cycle significantly impacts the growth process?
2.how military cycle significantly impacts the growth process?
3.what was the main reason for the boom in economy in musharafz era?
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For Q. No. 1 & 2. Theres a latest thesis of M.Phil, for Pakistan, which has used data and checked for presence of Political & Military cycle. That has found military cycle as positively and significantly affecting growth using ARDL bounds testing approach. Plus there are hundreds of papers in world over military cycle and growth.
Q. No. 3, excessive credit issuance. Musharraf era growth was a disaster indeed in the Long Run. I am highly appreciable of Ayub era growth. Please see performance in 1950's and compare with 60's. Its eye opening. Leave it aside, after zia, in 1990's what our politicians/democratic setup did of our economy, a glance at the macro indicators would testify my statement.