Political Instability and its Effects on Pakistan’s Economy (1999–2022): Causes & Consequences

Abstract

Pakistan’s economy and sovereignty have been impacted due to political instability resulting from upheavals in governance. For the purposes of this research, a qualitative approach is used, which involves the analysis of the contextual and historical data to further study the relationships between the phenomenon of political turmoil and the processes of socio-economic development. Upon reviewing literature and analyzing leading economic indicators, it was found that Pakistan experienced economic regression due to rising political instability during the years 1999 – 2022. Research asserts that the cycle of political stability greatly enhances economic development, but in the case of Pakistan, deep-rooted instability caused by external powers since the country’s birth in 1947 has severely dampened sustained economic growth. Besides, the research also points out oligarchy as one of the main obstacles to the fair and just economic growth of the country. This calls attention to the fact that there must be an effective political control to sustain economic growth, and there is a need for other supporting policies and steps in Pakistan to break the condition of political instability.