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South Asia has performed well over the past 25 years in reducing poverty, improving human development and increasing growth, but faster progress with poverty reduction will require a higher rate of growth. This book shows that the development performance is not a puzzle but largely explained by good policies. Countries in the region have maintained good macroeconomic environments, opened up their economies to greater domestic and international competition, and reduced the role of corrupt and inefficient public enterprises.
South Asia's developing nations have been enjoying moderate to high growth over the past decade before the global recession began. This new edition provides an up-to-date guide to the growing markets in South Asia. It offers an analysis of the changes and consequences of high sustainable growth, investigating what has been achieved in the region during the last ten years from a macroeconomic viewpoint, identifying new challenges and clearly defining what has driven the boom. The first part of the textbook presents an analysis of how South Asia is rated against Southeast and East Asia in recent decades in economic and social terms. The second part of the text focuses on South Asia's economic development over 1990s and mid-2000s, and the third and final part identifies those major governance issues, which were responsible for South Asia's underperformance both socially and economically. It is widely recognised that globalisation enhanced global trade, and that trade further increased the region’s prosperity. Embracing the view that economists can no longer regard themselves as technocratic guardians of neutral policy advice, the book advocates for a shift in focus from policy reform per se to the more challenging task of implementing institutional reform that will invigorate the capability of the political leadership to bring about rapid, sustained and poverty-reducing growth in South Asia. The central task would be to re-direct the focus of governments in South Asia in order to ensure that the core functions of the state stable, non-distortionary policy climate, a secure foundation of law, investment in basic education, health and infrastructure, protection of the vulnerable and adapting with the climate change are efficiently provided. At the same time, the reform agenda must be sensitive to the goal of ensuring that durable democratic institutions, traditions and values are preserved. This is a fundamental challenge, but one that must be met in order to secure the emergence of a prosperous South Asia in the early part of the twenty-first century. This textbook will be useful for students and researchers in Development Economics, Business Economics, Development Studies and Asian Studies.
Human capital is an important factor for economic growth in South Asia. Between 1981 and 2010, human capital contributed about 22% of annual gross domestic product per worker growth in India. During the same period, it contributed around 21% in Bangladesh, and 16% in Sri Lanka. However, education and skills remain the binding constraint. Raising the quality of education and skills in South Asia's workforce can play a critical role in catching up to the level of development of the People's Republic of China, the Republic of Korea, and other successful Southeast Asian economies. This study reviews the development of human capital in South Asia and analyzes contributing factors to human development including policies and strategies that countries in South Asia follow.
At the beginning of the second decade of the new millennium, South Asia has emerged as a key regional variable in the contemporary global order. The last decade saw the region experiencing a robust phase of economic growth and development. Over time, South Asia's economic progress is expected to accelerate, given its favourable demography and strategic location. The prospects of faster economic growth and development, however, will materialize depending upon the region's success in handling various challenges including security, climate change, political instability and ethnic strife. It is in this context that the Sixth International Conference on South Asia brought together academics and policy specialists to provide insights and contribute to an understanding of the challenges and prospects facing the region in the new decade. This volume is a collection of the papers presented at the Conference and assembles a large and diverse set of viewpoints and perceptions on the region.
At the beginning of the second decade of the new millennium, South Asia has emerged as a key regional variable in the contemporary global order. The last decade saw the region experiencing a robust phase of economic growth and development. Over time, South Asia''s economic progress is expected to accelerate, given its favourable demography and strategic location. The prospects of faster economic growth and development, however, will materialize depending upon the region''s success in handling various challenges including security, climate change, political instability and ethnic strife. It is in this context that the Sixth International Conference on South Asia brought together academics and policy specialists to provide insights and contribute to an understanding of the challenges and prospects facing the region in the new decade. This volume is a collection of the papers presented at the Conference and assembles a large and diverse set of viewpoints and perceptions on the region.
This new edition provides an up-to-date guide to the growing markets in South Asia. It offers an analysis of the changes and consequences of high sustainable growth of the region and provide an outlook as to where these economies are heading in the future. Focusing on the region's economic performance and achievements in the economic development front, the textbook will be of great interest to students and researchers in development economics, business economics, development studies and Asian studies.
With its higher economic growth in recent years South Asia is becoming an increasingly important region in the global economy. This volume provides a very useful introduction to the economics of the region and will be of considerable interest to both students and researchers. John Weiss, University of Bradford, UK The editors and contributors are to be congratulated for this comprehensive and original survey of the enormously important and diverse South Asian economies. Hal Hill, Australian National University The Handbook on the South Asian Economies edited by Wahiduddin Mahmud and Anis Chowdhry is a collection of essays on political economy of development of all seven South Asian countries. It is also one of only a few books available in the market covering all economies of South Asia. Hence, it fills a gap in the literature on South Asian Development. One very important aspect of the book is a clear recognition by the editors that South Asia s development will have to be studied and analysed within the context of its socio-political institutions and hence not by relying solely on its economic policy regimes. I recommend this book to scholars of all disciplines. Kartik Roy, University of Queensland, Australia This Handbook on the South Asian Economies (a companion to the Handbook on the Northeast and Southeast Asian Economies) is a comprehensive and unique collection of original studies on the economic and social development of countries in South Asia. The analytical narratives draw upon a wide range of extant literature in an easily accessible way, whilst highlighting the impact of socio-political factors on economic outcomes. The introductory chapter by the editors provides a comprehensive survey of the main features of South Asian economic development, especially in respect of the policy reforms since the late 1970s. The Handbook seeks to understand the varying degrees of achievements in economic transformation and social development in various parts of South Asia, and ponders whether these experiences indicate alternative pathways of socio-economic progress or provide a unique framework for a South Asian development model. The experiences of economic reforms across the South Asian countries, with their distinctive socio-economic settings and public cultures, may thus provide fresh perspectives on the emerging development paradigms. The Handbook is indeed based on the premise that development economics and South Asia have a lot to learn from each other. As with the Handbook on the Northeast and Southeast Asian Economies, this latest Handbook will be an invaluable reference work for many years to come for researchers, academics and students of Asian studies and economics. Policymakers interested in learning more about the background and future opportunities and challenges posed by these economies will also find much to engage them.
This book addresses issues affecting growth and employment in South Asia. It looks at the policies and institutions that could propel the region towards higher growth.
Shveta Dhaliwal teaches at the Rajiv Gandhi National University of Law, Punjab, Patiala, India. Her areas of specialisation are geopolitics, regional human rights systems, comparative political thought and international relations. She has published more than 40 research papers and presented over 150 papers in international and national conferences. She has an authored and three edited books to her credit. She is member of the Indian Political Science Association and the Indian Society of International Law and South Asian Foundation.