Professor Timothy John Besley, W. Arthur Lewis Professor of Development Economics at London School of Economics and Political Science (LSE) delivered 21st Zahid Hussain Memorial Lecture on State Capacities for delivering Higher Economic Growth organized by State Bank of Pakistan.



The State Bank of Pakistan organizes each year a lecture in the honor of its first Governor Mr. Zahid Husain. The lecture is delivered by renowned economists, especially from advance Countries.

This year’s lecture, 21st in series, was delivered by Professor Timothy John Besley of London School of Economics and Political Science (LSE), on State Capacities for Delivering Higher Economic Growth on December 12, 2016.

Professor Besley talked on a broader topic “What drives growth” with special focus on the role of the State capacities rather than the conventional sources such as accumulation of skills (human capital), plant, machinery, structures, infrastructure (physical capital) and technology. His main emphasis, nevertheless remained on a somewhat different view, that mainly offers insights into the factors that facilitate improvements in state capacity; namely fiscal, legal and collective capacities.

The Governor, State Bank of Pakistan gave a welcome address highlighting the efforts made at SBP to improve its capabilities, enhancing effectiveness of monetary policy, one of the important functions of the State Bank of Pakistan.

The seminar was attended by policy makers, financial sector specialists, researchers, government officials, heads of commercial banks, eminent businessmen and representatives of academia and the media.

Program Details

Monday, 12 December, 2016 at Marriot Hotel Karachi

  • Recitation from the Holy Quran
  • Documentary on History of SBP
  • Opening remarks by Mr. Ashraf Mahmood Wathra, Governor SBP
  • Keynote lecture by Professor Besley
  • Q,&A. Session
  • Closing Remarks by Governor SBP

Lecture Notes


SBP History Documentary
(Comming Soon)



Event Video
(Comming Soon)


About SBP
Economic Data
Press Releases
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
SBP Welfare Trust
Contact us
What's New?
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Rupey ko Pehchano
Zahid Husain Memorial Lecture
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.