RULE OF LAW, LEGAL DEVELOPMENT AND ITS EFFECTS ON ECONOMIC GROWTH IN PAKISTAN
Keywords:
Rule of Law, Legal Development, Effects, Economic Growth, PakistanAbstract
The role of legal systems is considered a pre-condition for sustained economic development. Their relative weakness in the under-developed world is considered as the main obstacle to economic development. Strengthening Rule of Law and legal systems has, therefore, become a standard advice from the developing community. Pakistan, too, has witnessed a surge in demand for Rule of Law and legal system in recent years. Capitalizing on this domestically garnered mandate, this paper reviews the legal obstacles to economic growth in Pakistan. It finds significant impediments for growth and market development due to legal shortcomings in the case of Pakistan. Recent times have witnessed an increased demand for Rule of Law in Pakistan. The movement for restoration of judiciary, which basically emerged and was sustained by the urban centers of Pakistan and later evolved into a broader consensus for strengthening Rule of Law, has been considered ‘elitist’ by its critics. Their arguments connote Rule of Law as a luxury that is demanded by the urban elites only, while the poor in both urban and rural areas are concerned more about their livelihoods. This debate rages on in Pakistan at a time when the development community is unanimous in its prescription about Rule of Law as a solution to the ills of under-development1. This paper argues that Rule of Law and a strong legal system are necessary conditions for economically progressing and socially ‘just’ societies – both essential for improving the living conditions of masses in Pakistan.
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This work is licensed under a Creative Commons Attribution 4.0 International License.
