BOP hosts interactive session on economy with Prof Stefan Dercon

KARACHI: The Bank of Punjab held an interactive session of Professor Stefan Dercon with local industry leaders in Karachi. Stefan is a Professor of Economic Policy at the Blavatnik School of Government and the Economics Department, at the University of Oxford. He combines his academic career with work as a policy advisor, providing strategic economic and development advice.

His latest book ‘Gambling on Development: Why some countries win and others lose’, published in May 2022, draws on his academic research as well as his policy experience across three decades and 40-odd countries, exploring why some countries have managed to settle on elite bargains favoring growth and development, and others did not.

During the discussions, Prof Dercon highlighted areas of critical reforms for the economy. He emphasized the current structure of the economy distorts the allocation of resources, stifling productivity growth. He also highlighted the anti-export bias of the policies and the need to move the economy away from import substitution towards export-led growth.

He stressed on the need for corrective actions to improve the investment climate, boosting private and foreign investments in the economy.

Copyright Business Recorder, 2024