Re: Pakistan average economic growth under different head of states:
The graph you posted is Pakistan current (market price) dollar GDP over years. Market price GDP do not get effected due to re-base of the economy, as it is in current currency value (current rupees). Economic growths are not calculated using market price GDP value but using constant (fixed price) GDP value. In economic terms, percentage increase in GDP is percentage increase in purchasing power of economy. Increase in GDP due to inflation does not increase purchasing power of economy.
Constant GDP = Current GDP – inflation.
Dollar GDP depends on exchange rate: We all know that many factors plays role to determine exchange rate. Dollar GDP is no guide to measure economy. Occasionally countries with weak economy artificially keep their country’s exchange rate strong by having fixed exchange rate and control over foreign exchange movements (in and out of country). Leaving exchange rate to market whim can crash currencies of weak economy badly (as happening today in Pakistan).
For instance, before Bhutto took power, Pakistan-dollar exchange rate was fixed (government control) with bonus voucher scheme to reward incoming dollars. Bhutto had fixed exchange rate too, though initially Bhutto devalued rupee to Rs 11.00 per dollar, then when dollar had big devaluation in international market, Bhutto re-valued rupees by 10 percentage points to Rs 9.91 per dollar. Zia floated the exchange rate, though it was managed-float (market plus government). Musharraf made exchange rate completely floated (value determined by market).
[Even though Pakistan posted highest rate of dollar GDP growth during Musharraf period, I do not want to misguide anyone, so I wrote facts and also used real GDP to calculate GDP growth in my first post]
Anyhow, dollar GDP is a measure that people use when comparing countries GDP with each other, as exchange rate takes into account more than just internal economy of the country. Good management, Economic growth, FDI, Exports, Balance of payment, Remittances, Aids, Grants, and other incoming foreign exchange, all effects exchange rate and thus GDP measured in dollars.
Graph you posted shows GDP in dollars using Cartesian coordinates. Graph is correct, though ideally these types of graph should be log-linear graph and not graph using Cartesian coordinates as it can mislead layman (though many use Cartesian coordinate probably due to their own lack of knowledge, considering that people have no idea of log-linear graph, or to mislead people).
Looking at graph you posted, data used for graph is given below (from PBS site). Value in graph is calculated value of GDP ($) in dollars. As help, I also calculated GDP in dollars and put down the results for selected years. If you want to, you can look at graph and my calculated GDP ($) figures, and you will find them agreeing with each other. You can also calculate other figures and confirm that on the graph.
Pakistan GDP ($) for selected years:
[TABLE]
End period of
the Person
In power
Financial
Year
Average
Ex-Rate
(Per $)
GDP
(Market Price)
GDP ($)
Col 7 / Col 3
Percentage increase per year b/w dates
Col 1
Col 3
Column 7
Million (Rs)
Billion ($)
(Percentage pts)
1960-61
Rs 4.76
Rs 20032
$ 4.21 bn
Ayub
(last 8 yrs)
1968-69
Rs 4.76
Rs 41945
$ 8.81 bn
9.67
Yahya
1970-71
Rs 4.76
Rs 51273
$ 10.8 bn
10.72
Bhutto
1976-77
Rs 9.91
Rs 151042
$ 15.2 bn
5.86
Zia
1987-88
Rs 17.60
Rs 675389
$ 38.4 bn
8.8
Thugs
1998-99
Rs 46.79
Rs 2938379
$ 62.8 bn
4.57
Musharraf
2007-08
Rs 62.55
Rs 10242799
$ 163.8 bn
11.24
Zardari
(first 4 yrs)
2011-12
Rs 88.31
Rs 20653868
$ 233.9 bn
9.3
Pakistan Per Capita Income ($) for selected years:
[TABLE]
End period of the
Person in power
Financial
Year
Per Capita
Income ($)
Percentage increase per
Year b/w dates
Column 1
Column 4
(Percentage pts)
1960-61
$ 91
Ayub
(last 8 yrs)
1968-69
$ 152
6.6
Yahya
1970-71
$ 175
7.3
Bhutto
1976-77
$ 213
3.3
Zia
1987-88
$ 395
5.8
Thugs
1998-99
$ 468
1.6
Musharraf
2007-08
$ 1038
9.3
Zardari
(first 4 yrs)
2011-12
$ 1371
7.2
Note:
Start period of person in power is end period of person in power before him.
Ayub period should start from 1957-58 (after July 1958)
Zardari period ends 2013-14 (just before end of June 2014)
For verification, I am giving you site from where you posted the graph.
Run the cursor on the graph (same graph that you posted) and check GDP for different years. You will see that figures ~ matches with figures I calculated from PBS data.
[TABLE=“width: 694”]
Person
In power
Financial
Year
Year
(in graph)
GDP ($)
From graph
GDP ($)
(calculated
From data)
Ave growth
using graph
Ave growth
using data
(as above)
Col 1
Billion ($)
Billion ($)
(% points)
(% points)
1960-61
1961
$ 4.055 bn
$ 4.21 bn
Ayub
(last 8 yrs)
1968-69
1969
$ 8.63 bn
$ 8.81 bn
9.9
9.67
Yahya
1970-71
1971
$ 10.6 bn
$ 10.8 bn
10.83
10.72
Bhutto
1976-77
1977
$ 15.13 bn
$ 15.2 bn
6.11
5.86
Zia
1987-88
1988
$ 38.47 bn
$ 38.4 bn
8.85
8.8
Thugs
1998-99
1999
$ 62.97 bn
$ 62.8 bn
4.58
4.57
Musharraf
2007-08
2008
$ 163.9 bn
$ 163.8 bn
11.21
11.24
Zardari
(first 4 yrs)
2011-12
2012
$ 231.2 bn
$ 233.9 bn
8.98
9.3