Harvesting The Benefits Of Industrialization For Inclusive Growth: An Evidence Based Policy Framework
Author: Khizar Hayat

Industrial sector plays very positive role in generating high revenue from production, creating employment opportunities, increasing savings rates which helps in future investment and above all money flow in markets. Cumulatively, all these lead to economic growth. However, it is also accompanied by uneven distribution of income and exclusion from participating in the growth process, thus leaving some segments of society in dismay. This gives birth to the idea of inclusive growth which may include all segments of society especially in participation of growth process. The main objectives of this research is to assess the contribution of Pakistani industry in overall production and growth and its role in employment generation, poverty reduction, increasing savings, debt financing and above all abridging income gap. Based on a time series data for 29 years, this research calculates the variables for gauging the contribution of industry in Pakistani economy so that to check its inclusivity and sustainability. The findings show positive relationship between growth rates and poverty. Similarly employment is also correlated with growth process. The more an industry flourishes the more employment is generated. However, growth and income inequality has no significant correlation which means that the growth may positively or negatively contribute in the income inequality of masses. For the same reason, it is direly needed to ensure the equitable distribution of benefits – achieving inclusive growth. To address this problem, a comprehensive policy framework is required to revitalize the industrial sectors which ensures that no-one is left behind in the growth process and everyone is equally sharing the benefits either men or woman, rural or urban and small or large firms. It will maximize the output of industrial sectors and will help in achieving inclusive growth. Supervisor:- Dr. Usman Qadir

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Supervisor: Usman Qadir

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