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This book is an edited volume of different perspectives on the South Asian region and captures the political, social and economic challenges facing the region following the financial crisis and the region''s responses to these challenges.
Why is the centre of international economic dynamism moving towards the countries of the East and South East Asia? Are there common elements that explain this success? Divided into two parts, the authors consider the central debates concerning the developm
After the Storm discusses restructuring and growth strategies adopted in Indonesia, Malaysia, Thailand, and South Korea after the currency and financial crisis of 1997-98. These four Asian economies were the most adversely affected despite achieving rapid growth in the 1970s and 1980s, with low inflation and current account surpluses. Although macroeconomic fundamentals in these countries were relatively sound prior to the crisis, early analyses of the crisis dwelled on the failure of corporate governance, currency controls and immature financial institutions and infrastructure in some countries. The book offers fresh insights into the causes of the crisis and postcrisis restructuring, the growth strategies adopted, and domestic initiatives taken by these countries. It also reveals why reforms recommended by the IMF, World Bank and others were met with resistance, thereby contributing to the ongoing discourse on the effects of globalisation.
This publication reviews the region's inequality trends, challenges and achievements and identifies policy gaps across the three dimensions of inequality--inequality of outcome, inequality of opportunity and inequality of impact. It also discusses the potential impact of rapid and disruptive technological advances, such as machine learning, and puts forward a broad set of policy recommendations for reducing all forms of inequality for the effective implementation of the 2030 Agenda for Sustainable Development and its core tenant of ""leaving no one behind"".
This Selected Issues paper analyzes mobilization of tax revenues in Nigeria. Low non-oil revenue mobilization is affecting the government’s objectives to expand growth-enhancing expenditure priorities, foster higher growth, and comply with its fiscal rule which limits the federal government deficit to no more than 3 percent of GDP. There is significant revenue potential from structural tax measures. A broad-based and comprehensive tax reform program is needed in the short and medium term to address these objectives and generate sustainable revenue growth by broadening the bases of income and consumption taxes, closing loopholes and leakage created by corporate tax holidays and the widespread use of other associated tax expenditures, as well as creating incentives for the subnational tiers of government to raise their own source revenues.