JNFLATION STRUCTURE AND ITS DETERMINANTS IN PAKISTAN WITH REFERENCE TO AGRICULTURE SECTOR Iqbal Ahmed Panbwar Department of Agricultural Economics & Rural Sociology Faculty of Agricultural Social Sciences SINDH AGRICULTURE UNIVERSITY TANDOJAM 1991INFLATION STRUCTURE AND ITS DETERMINANTS IN PAKISTAN WITH REFERENCE TO AGRICULTURE SECTOR By Iqbal Abned Panhwar A THESIS SUBNITTED THROUGH THE DEPARTMENT OF AGRICULTURAL ECONOMICS AND RURAL SOCIOLOGY FACULTY OF AGRICULTURAL SOCIAL SCIENCES TO SINDH AGRICULTURE UNIVERSITY TANDOJAM IN CONNECTION WITH FULFILMENT OF REQUIREMENTS FOR THE DEGREE OF DOCTOR OF PHILOSOPHY IN AGRICULTURAL ECONOMICS 1991TABLE OF CONTENTS Chapter particulars Approval by Supervisory Committee....., Dissertation Release Form ...-.-++++-ee0e Acknowledgements. List of Tables .. Abstract LT UNTRODUCTION 05.0 essere eee ODJOCEIVES Leeeeeee cece cette eee e teeter tees {I REVIEW OF LITERATURE ....- Trends in Price Level ....-.--.-.--- sees Inflation and Excess Aggregate Demand ... Demand for Money Function ...... Inflation and Agriculture Sector . Federal Deficit and Inflation ..... IIL METHODOLOGY ....... fee e eee e terete teen tees Honetarist and Structuralist ..... Combined Nonetarist and Structuralist.... Agricultural Bottleneck -..- Variavles ve cveseceeesesertenetetecseeee Definition of Variables ........seeeeee es Rate of Inflation ...... wholesale Price tndex .. Consumer Price Index ..ssseeee Implicit Gross National Product (GNP) Deflator.......... cece cece eee e ee eee Growth of Money Supply (tl and 12) .... Real Domestic Availability of Goods ... Growth of Export Volume .... . Growth of Unport Volume ...... Growth of PXpOrL Prices. se... serene Growth of Import Prices ..e.eeeee eee e cece Extent of Excess Demand for Food -. Growth of Indirect Tax Burden . Home Remittances and tnflation ....... Government REV@NUCS +i eereeee ee eeee neon Growth of Structural Imbalance. Limitations of the study .......eeeeee Page ii iii vii iL 16 24 38 38 39 40 40 42 42 43 44 a4 AS 45 46 46 47 48 48 48 49 50 51 51