'Although the FBR's performance had remained below average Punjab was able to post a 46 per cent growth in revenue resource generation in one year,' he told reporters on the sidelines of a symposium on Behavioural Economics
in Policy Making organised by the Lahore School of Economics in collaboration with B4Development on Tuesday.
Speaking at the symposium earlier, the provincial finance minister said Punjab had experimented some behavioural economics
in the Punjab Revenue Authority's Restaurant Invoice Monitoring System.
Lahore School of Economics in collaboration with B4Development (formerly Qatar Behavioural Insights Unit, created by the Supreme Committee for Delivery and Legacy in 2016 hosted a symposium on Behavioural Economics
in Policy Making on 3 September 2019 at Pearl Continental Hotel, Lahore.
The objective of the event was to summarise the experiences and insights from successful behavioural programmes from around the world on the role that behavioural economics
can play in matters of compliance, public finance and accountability.
Those disciplines range from the more generic ones of micro- and macro-economics, to ones that are more field- and industry-specific such as fiscal economics, monetary economics, health economics, and behavioural economics
The need to increase global partnerships for the purpose of invention and applying the basis of behavioural economics
in order to best serve policies for integration and empowerment was the focus of these talks.
It discusses in detail how application of behavioural economics
can prove to be a valuable instrument of change in a country like India where social and religious norms play a dominant role in influencing behaviour.
He listed behavioural economics
, legal reforms, data as a public good and unshackling MSMEs to create jobs and productivity in the economy as the tactical tools behind shifting the gears of the economy.
Robert Shiller,winner of a Nobel Prize in Economics wrote: "Richard Thaler has been at the center of the most important revolution to happen in economics." In this book he lays out evidence for behavioural economics
Microfinance--arguably the biggest, if unwitting, behavioural economics
experiment ever conducted--found an innovative solution: by replacing economic incentives with emotional engagement, it managed to get a billion of the world's poorest women to repay loans almost 100 per cent of the time.
The Supreme Committee for Delivery & Legacy (SC), in partnership with Qatar Foundation (QF), has launched an initiative to promote and share knowledge about behavioural economics
Fadi Makki, member of the Council for Behavioural Sciences at the World Economic Forum, and pioneer in the application of behavioural economics
to public policy in the Middle East, will give a presentation about "Applications of behavioural economics
and nudge concepts in various education policy settings" followed by a question and answer session.