Jumpstarting South Asia: Revisiting Economic Reforms and Look East Policies by Pradumna B. Rana
Economic reforms implemented by South Asian countries in the 1980s and 1990s had positive effects on growth, and the region's share of global GDP began to increase. Recently, however, economic…
Jumpstarting South Asia synopsis
Economicreforms implemented by South Asian countries in the 1980s and 1990s had positive effects on growth, and the region's share of global GDP began to increase. Recently, however, economic growth in South Asia has slowed somewhat for a number of reasons.
This book focuses on slowing the pace of economicreforms and makes the issue a two-pronged strategy for launching South Asian economies. First, the South Asian countries should complete the process of economic reform they have begun and implement further micro-economic reforms, namely, sectoral, administrative and institutional reforms to enhance competition and improve market operation.
Second, they should implement the second round of "East Search" or LEP2 policies to (i) connect themselves to production networks in East Asia, their fastest developing markets; (ii) develop manufacturing networks and services within their region; Win-win situation for all countries in South Asia and East Asia, and the revitalization of economic integration in South Asia, one of the least integrated regions in the world. It also identifies the agenda for the unfinished policy reform of each South Asian country and the components of the LEP2 that should be implemented..
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