A Larger Perspective on Nepal’s Transitional Strategy to Graduate from Less Developing Countries (LDC) to Developing Country (DC)

Ullah, Ihsan; Dai, Yonghong; Khadgi, Nandita; Qin, Yonghong; Shrestha, Nischal; Hamza, Amir

doi:10.4236/jss.2023.112013

Cited by 2 publications

(1 citation statement)

References 8 publications

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“…To support Nepal's growth synergy, strategies should avoid obstacles including irreversible graduation and the middle income trap. Being proactive when it comes to world affairs and international relations can help to reveal new possibilities and advance Nepal's statehood (Ullah et al 2023). We can also encourage our bilateral and multilateral partners to gradually phase out the preference while Nepal takes appropriate steps for negotiation and to close the gap to lessen the burden of the LDC Transition.…”

Section: Literature Reviewmentioning

confidence: 99%

Efforts of Nepal's Least Developed Countries (LDC) Graduation and Its Challenges

Acharya

2023

Hum. Soc. Sci. J.

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The primary objectives of this study are to examine the initiatives undertaken by the government of Nepal for LDC graduation, identify challenges faced during process, and discuss the potential impact of graduation. This study is based on qualitative analysis of secondary data obtained from diverse domestic and international sources. Major sources include literature reviews, government policies, reports, and international declarations. Comprehensive desk review on the issue shows that Nepal has undertaken a strategic plan for LDC graduation, prioritizing investments in human capital, infrastructure, and healthcare, while addressing income disparities. Nepal has already achieved two requirements; HAI and EVI, and Nepal fell significantly short of the LDC graduation threshold of a per capita GNI. The plan includes achieving Sustainable Development Goals (SDGs) and progressing from a lower-middle income to an upper-middle-income nation by 2030.Despite progress, Nepal faces challenges in achieving graduation, including political instability, governance issues, and environmental vulnerabilities. The country lags in good governance rankings, which could hinder its development efforts. Nepal's commitment to SDGs is seen as a potential driver for LDC graduation, focusing on sustainability, gender equality, clean energy, job creation, and economic development. Nepal aims to become a high-income country by 2043, emphasizing poverty reduction, trade balance improvement, and overall quality of life enhancement. Leaving the LDC category will bring opportunities but also challenges, including the loss of special market access that was provided to the least developed countries like Nepal. Other challenges may involve growing trade and market capacity and strengthening the global competitiveness of internal production. Internally, intersectional variations of inequalities and poverty among and between regions, castes and ethnic groups in Nepal may generate challenges meeting LDC graduations and its sustainability.

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Section: Literature Reviewmentioning

confidence: 99%

Efforts of Nepal's Least Developed Countries (LDC) Graduation and Its Challenges

Acharya

2023

Hum. Soc. Sci. J.

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Navigating Nepal’s development trajectory: The road to graduation from the LDC status and beyond

Gautam,

Pratap KC,

Adhikari

et al. 2023

Local Economy: The Journal of the Local Economy Policy Unit

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Nepal’s imminent graduation from the Least Developed Country (LDC) status marks a significant milestone in its development trajectory, highlighting substantial progress in economic, social, and human development indicators. This transition necessitates a strategic approach to capitalize on newfound opportunities while mitigating associated challenges. Drawing on insights from socio-economic indicators and economic evolution data, this paper assesses Nepal’s readiness for graduation and outlines key priorities for its post-LDC journey. Emphasizing sustainable development aligned with the Sustainable Development Goals (SDGs), the paper advocates for in-country resource mobilization, system strengthening with a localization focus, human capital development, market access facilitation, resilience building, and promotion of foreign direct investment. By leveraging international support, prioritizing strategic initiatives, and fostering conducive environments for growth and investment, Nepal can navigate the transition effectively and pave the way for inclusive, resilient, and sustainable development.

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A Larger Perspective on Nepal’s Transitional Strategy to Graduate from Less Developing Countries (LDC) to Developing Country (DC)

Cited by 2 publications

References 8 publications

Efforts of Nepal's Least Developed Countries (LDC) Graduation and Its Challenges

Efforts of Nepal's Least Developed Countries (LDC) Graduation and Its Challenges

Navigating Nepal’s development trajectory: The road to graduation from the LDC status and beyond

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