Ishrat Husain

This article undertakes an in-depth case study of Pakistan to shed light on three questions. (a) How can a country that has suffered from political volatility and instability for such a long period achieve high rates of economic growth? (b) Have the periods of stable authoritarian regimes provided the wherewithal for long term economic performance and (c) Have external influences particularly the close relationship with the U.S. played the smoothing role?