South Asia - Rising to the Challenge of Globalization

Rana, Pradumna B.; Dowling, John Malcolm

doi:10.1142/9789812814227

Cited by 7 publications

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“…In India, the growth rate of income in the 15 years before reforms from 1976 to 1990 averaged 4.9 percent, compared with 6.0 percent from 1991 to 2005. This was an average gain of 1.1 percent per annum (Rana and Dowling, 2009). 100…”

Section: Economic Impacts Of Policy Reforms In South Asiamentioning

confidence: 98%

“…It is generally agreed that China has been more successful than South Asia in raising economic growth and living standards (Panagariya, 2008 andGulati et al, 2005 for China and India; Rana and Dowling, 2009 for China and South Asia). China began its reform process in 1978 with a lower income per capita than all South Asian countries except Nepal (refer to Figure 1).…”

Section: Comparative Economic Performancementioning

confidence: 99%

“…At this stage, it is important to explore as to how much of the acceleration in growth in per capita income can be attributed to the shift in policies that occurred in South Asia. While we do not know this for sure, it is plausible that most of the acceleration came as a result of policy changes that improved economic efficiency and moved resources from less to more productive uses (Rana and Dowling, 2009). One initial way to answer this question is to compare growth rates between comparable periods before and after the reforms.…”

Section: Economic Impacts Of Policy Reforms In South Asiamentioning

confidence: 99%

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Reform strategies in South Asian countries: a comparative analysis

Rana

2012

South Asian Journal of Global Business Research

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Purpose -It is generally agreed that policy reforms have been more successful in China than in South Asia. The purpose of this paper is to argue that the relative success of China can be explained by the differences in initial conditions and in the design and sequencing of policies. The reform path followed by China placed reform of agriculture and rural light industry ahead of economic liberalization policies. South Asia, on the other hand, followed an opposite sequence with macroeconomic, trade, and industrial reforms coming ahead of agriculture and institutional reforms. This paper also finds that economic policies have mattered in South Asia and it develops an unfinished reform agenda comprising mainly the so-called second generation reforms which is necessary to propel South Asia to a higher growth trajectory. Design/methodology/approach -The paper argues that the difference in economic performance between China and South Asia in the post-reform period can be explained by the differences in initial conditions and the design and sequencing of policies. Findings -This paper finds that economic reforms have been more successful in raising economic growth and reducing poverty in China than in South Asia because of differences in initial conditions and the design and sequencing of reforms. Going forward, South Asia needs to focus on the implementation of the so-called second generation reforms (agriculture, industrial, and the more microeconomic institutional reforms) more vigorously. This will, however, pose a serious challenge to the countries because these reforms generate benefits only in the longer term and therefore require a wider political consensus for their implementation. Yet without these reforms, sustained higher economy growth in the future and catch-up with East Asia will not be possible. Originality/value -The paper argues that difference in economic performance between South Asia and China can be partially explained by the way in which they designed their reform paths and it also develops a reform agenda that South Asian countries could implement to improve their economic performance. Hence the value of the paper is for both scholars and policy makers at large.

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Section: Economic Impacts Of Policy Reforms In South Asiamentioning

confidence: 98%

Section: Comparative Economic Performancementioning

confidence: 99%

Section: Economic Impacts Of Policy Reforms In South Asiamentioning

confidence: 99%

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Reform strategies in South Asian countries: a comparative analysis

Rana

2012

South Asian Journal of Global Business Research

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“…The relative isolation of these regions stemmed from a lack of policy signals, poor connectivity, and cultural and political barriers. Following their independence from British rule, most South Asian countries adopted import substitution industrialization strategies with high import tariffs and licensing to control the entry of outside industries and other farms state interventions to nurture their own domestic industries (Rana and Dowling 2009). Table 1 summarizes the attributes of South Asian exports to East Asia during the second period.…”

Section: A Traditional Trade Flowsmentioning

confidence: 99%

South Asia’s Economic Integration with East Asia: An Exploratory Analysis with a Focus on India

Anbumozhi

Kalirajan

2020

Journal of Economic Integration

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Economic integration of South Asia and East Asia has been growing steadily since the 1990s, fuelled by domestic reforms and the emergence of regional supply chains. Within South Asia, India emerged as the largest trading partner and investment destination for East Asian economies. With its new Act East Policy, India has been proactively looking at free trade agreements with Association of Southeast Asian Nation and East Asia, which has brought benefits to South Asia in terms of improved trade and increased investment. This paper assesses the experience of the economic integration of South Asia and East Asia by addressing questions such as the extent of trade integration achieved and impediments to deepening integration. It found that trade and investment linkages are growing as well as casually related. However, attaining the full potential of economic integration is constrained by the insufficient depth in the use of existing trade agreements, barriers to service trade, and poor infrastructure connectivity. Expansion of Regional Comprehensive Economic Cooperation would significantly enhance economic integration of South Asia, particularly India, and East Asia.

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“…Before 1990, the South and East Asian economies were relatively isolated from one another in terms of economic relations (Rana & Dowling, 2009). There was limited bilateral trade and investment flows in goods or services.…”

Section: A Shift In Regional Integration Prioritiesmentioning

confidence: 99%

Will South Asia Benefit from Pan-Asian Integration?

Wignaraja

2014

South Asia Economic Journal

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This article examines the gains for South Asian economies from integrating with East Asia and India’s role in this process. Evidence of increased pan-Asian integration exists but the process is uneven. Bilateral trade has grown. Bilateral foreign direct investment flows and free trade agreements (FTAs) have also increased, albeit at a slower pace than trade. The integration process has been led by India and Pakistan with limited participation of smaller South Asian economies. Tackling key impediments in infrastructure, FTAs, trade barriers and business regulations, and barriers to services will foster further integration. Computable general equilibrium simulations suggest that a South Asia–East Asia FTA offers the most gains for South Asia and that India has an incentive to include its neighbours in such an arrangement rather than going it alone with East Asia. The rest of South Asia will gain by deepening South Asian integration and fostering ties with East Asia.

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South Asia - Rising to the Challenge of Globalization

Cited by 7 publications

References 0 publications

Reform strategies in South Asian countries: a comparative analysis

Reform strategies in South Asian countries: a comparative analysis

South Asia’s Economic Integration with East Asia: An Exploratory Analysis with a Focus on India

Will South Asia Benefit from Pan-Asian Integration?

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