Suchergebnisse

As the resort to import substitution as a tool of economic
development has spread, it has generated an increasing volume of
critical literature. Of the numerous articles that have appeared, one in
The Pakistan Development Review, by Ronald Soligo and Joseph J. Stern is
among the more suggestive and venture¬some [1, pp.249-270]. The authors
undertake to examine the effects of past protection in Pakistan on the
efficiency of investment allocation and so to deter¬mine whether or not
protection has saddled the country with highly uneconomic industries.
Both their methodology and their results are interesting. With respect
to the latter, however, and especially with respect to their
interpretation, I have some doubts which it is the purpose of this paper
to explore.