Pakistan, Growth, Dependency, and Crisis

McCartney, Matthew

doi:10.35536/lje.2011.v16.isp.a4

Cited by 13 publications

(7 citation statements)

References 94 publications

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“…The explicit longterm commitment of investment can assist Pakistan in making a decisive * Associate Professor, University of Oxford, Matthew.McCartney@area.ox.ac.uk 1 Thanks to three anonymous reviewers who provided very useful feedback and also to the scholars and students of the Institute of International Area Studies (IIAS) at Tsinghua University in Beijing where the final revisions of this paper were completed. break with the decades-long dependence on the fickle whims of U.S. policy (McCartney, 2011). There is need for more careful reflection.…”

Section: Introductionmentioning

confidence: 99%

The China-Pakistan Economic Corridor (CPEC): Considering Contemporary Pakistan through Old-Fashioned Economics and Historical Case Studies

McCartney

2018

LJE

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As part of the massive One Belt One Road (OBOR) project or ‘New Silk Road’ the governments of China and Pakistan have announced that a significant ‘corridor’ will be constructed in Pakistan. This paper looks in detail at the $46 billion China-Pakistan Economic Corridor (CPEC) package of transport, energy and manufacturing projects and asks how we can analyse the impact of a transformative expansion of infrastructure. This paper draws lessons from various old-fashioned economics including Rostow, Hirschman and others and the historical case studies of transformative infrastructure expansion in the nineteenth century United States, Mexico, Germany and India to explore the conditions under which CPEC could promote sustainable long-run economic growth in Pakistan.

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Section: Introductionmentioning

confidence: 99%

The China-Pakistan Economic Corridor (CPEC): Considering Contemporary Pakistan through Old-Fashioned Economics and Historical Case Studies

McCartney

2018

LJE

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“…There is good evidence that the quality of infrastructure in Pakistan is poor relative to other large developing countries and has become a significant constraint on economic growth (Loayza and Wada, 2012). Some have seen the explicit long-term commitment of China to CPEC as a refreshing antidote to the recurring short-term IMF stabilisation and adjustment packages and the alternating tendency of the US to embrace and reject Pakistan in accordance with fluctuating US foreign policy interests (McCartney, 2011).…”

Section: Introductionmentioning

confidence: 99%

The prospects of the China–Pakistan Economic Corridor (CPEC): the importance of understanding western China

McCartney

2020

Contemporary South Asia

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The China-Pakistan Economic Corridor (CPEC) announced in 2015 is a $60billion package of Chinese-led investment in roads, railways, energy and industry in Pakistan. It is part of China's new Eurasia-wide Belt and Road Initiative (BRI). The likely impact of CPEC is controversial. Some scholars argue that CPEC will generate prosperity, regional equality and rapid economic growth in Pakistan. Others argue that CPEC will lead to debt and to the economic and political subordination of Pakistan to China. The existing discussion of CPEC has a near exclusive inward-looking focus on Pakistan. Some scholars, mainly from outside of Pakistan, have looked in more detail at China, but principally from an International Relations perspective. Missing from all of this discussion is how economic change in China, particularly in Western China, will influence the likely economic outcome of the CPEC. This paper makes an effort to start fill this gap. The paper demonstrates the likely competitive nature of the emerging economy of Xinjiang with that of Pakistan. Careful attention needs to be paid to the evolution of thinking and policy practice in Beijing.

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“…Price fluctuation has become a very obvious trend in current economic scenario, all over the world. It particularly gets very important in the developing countries due to the dependency of the country on external factors (MCCartney, 2011) [2]. Market price fluctuations all levels directly affect contractors.…”

Section: Introductionmentioning

confidence: 99%

Operation of Price Adjustment in Construction Projects

Mishra

Aithal

2020

SSRN Journal

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The construction industry always faces problems on price fluctuation and adjustment of the price to compensate the cost fluctuation becomes necessary. There is dilemma on which formula of price adjustment to use in construction contracts. Price adjustment affects all the stakeholders i.e. client, consultant and contractor. This research has revealed about the trend of the cost of components of construction i.e. labor, material, fuel, equipment, etc. and compare the different formulas of price adjustment Ten contracts commencing within 2010 A.D to 2019 A.D have been chosen. The formula used in the contracts has been compared with other formulas under same circumstance that original formula was used. The cost of fuel and bitumen cannot be predicted as it is fluctuating with respect to time. PPMO formula for Price Adjustment use NRB index of labor, material and equipment or fuel. Labor index has increased by 44.86 % during June 2015 to June 2019. Material index is fluctuating and has increased by 20.66% and Equipment index by 31.54%. Comparing the price adjustment factor using different formulas it is seen that the value of price adjustment factor using different formulas are different and change with course of time. Thus, it cannot be generalized that which formula could give minimum value of price adjustment. It depends upon condition such as time, index and cost.

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Pakistan, Growth, Dependency, and Crisis

Cited by 13 publications

References 94 publications

The China-Pakistan Economic Corridor (CPEC): Considering Contemporary Pakistan through Old-Fashioned Economics and Historical Case Studies

The China-Pakistan Economic Corridor (CPEC): Considering Contemporary Pakistan through Old-Fashioned Economics and Historical Case Studies

The prospects of the China–Pakistan Economic Corridor (CPEC): the importance of understanding western China

Operation of Price Adjustment in Construction Projects

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