Economic Growth and Stock Market Performance Under Different Regimes in Pakistan: A Comparison of Dictatorial and Democratic Regimes

Authors

  • Muhammad Sarfraz Khan University of the Punjab, Gujranwala Campus, Pakistan.
  • Muhammad Harris Khan University of the Punjab, Gujranwala Campus, Pakistan.
  • Saima Liaqat Lahore College for Women University, Lahore, Pakistan.

DOI:

https://doi.org/10.52131/pjhss.2023.1102.0544

Keywords:

Economic Growth , Stock Market , Pakistan , Regimes

Abstract

Pakistan is a developing country with a history of cyclical regimes, from democratic governments to dictatorial reigns. Literature provides inconclusive evidence as to whether democratic governments or dictatorial regimes yield better economic outcomes. This study provides a chronological description of different ruling regimes of Pakistan since 1960 and relates to economic outcomes like economic growth and stock market performance of relative regimes. It is noted that dictatorial regimes in Pakistan had better economic outcomes. It is also noted that dictators enjoyed longer and more powerful tenure in Pakistan, while democratic governments remained very unstable. We argue that better economic and stock market outcomes under dictatorial regime could be a result of consistent and stable policy making. Thus, there is a need to strengthen political processes in the country and devise policies for long time horizons to improve economic outlook of Pakistan.

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Author Biographies

Muhammad Sarfraz Khan, University of the Punjab, Gujranwala Campus, Pakistan.

Assistant Professor, Department of Commerce

Muhammad Harris Khan, University of the Punjab, Gujranwala Campus, Pakistan.

Lecturer, Department of Business Administration

Saima Liaqat, Lahore College for Women University, Lahore, Pakistan.

Assistant Professor, Department of Economics

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Published

2023-06-30

How to Cite

Khan, M. S. ., Khan, M. H. ., & Liaqat, S. . (2023). Economic Growth and Stock Market Performance Under Different Regimes in Pakistan: A Comparison of Dictatorial and Democratic Regimes. Pakistan Journal of Humanities and Social Sciences, 11(2), 2455–2464. https://doi.org/10.52131/pjhss.2023.1102.0544

Issue

Section

Articles