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Adjusting to Global Economic Volatility - The Case of South Asia (Hardcover)
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Adjusting to Global Economic Volatility - The Case of South Asia (Hardcover)
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In South Asia, the impact of global economic vulnerability has been
felt mainly through finance, trade and investment channels
affecting the performance of the real economy. The slowdown in
growth of exports and remittances, and other associated changes in
the domestic economies have resulted in lower growth. This has also
had social implications through changes in household income,
intra-household decisions and resource allocations creating adverse
impact on food security, nutrition, education, health care as well
as poverty dynamics and its intergenerational transmission.
Adjusting to Global Economic Volatility: The Case of South Asia
attempts to answer three questions: a) How has South Asia been
coping with the impacts of global economic vulnerability? b) What
has determined the differential impact of various sectors to global
economic and financial crisis? c) What demand- and supply-side
bottlenecks need to be eased to meet the challenges of global
vulnerability and how regional cooperation can help the countries
going forward? Meeting the global volatility challenges calls for a
reform agenda that cuts across both domestic economies as well as
the framework for regional cooperation. It must also be recognised
that regional cooperation is not easy, and implementation of
required actions is frequently weak in South Asian countries having
diverse backgrounds. Furthermore, effective regional cooperation
and integration takes time to develop and requires incremental,
gradual and flexible implementation with visible payoffs.
Successful cooperation requires leadership. Development of regional
resources can be one of the important areas to make progress, which
creates opportunities for win-win outcomes and equitable sharing of
benefits among all partners.
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