Accelerating Growth and Job Creation in South Asia

Accelerating Growth and Job Creation in South Asia
Author: Ejaz Ghani
Publisher: Oxford University Press, USA
Total Pages: 0
Release: 2009
Genre: Economic development
ISBN: 9780198060048

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.

Asian Development Outlook 2018

Asian Development Outlook 2018
Author: Asian Development Bank
Publisher: Asian Development Bank
Total Pages: 650
Release: 2018-04-01
Genre: Business & Economics
ISBN: 9292611216

The annual Asian Development Outlook analyzes economic performance in the past year and offers forecasts for the next 2 years for the 45 economies in Asia and the Pacific that make up developing Asia. Growth prospects in the region are upbeat, buoyed by favorable demand at home and abroad. A strong performance in 2017 reflected a surge in exports, which will likely abate this year and next, and rapidly expanding domestic demand. While the outlook is for steady growth, risks to it are decidedly on the downside: Trade friction could weaken recently deepened trade links, tightening US monetary policy could diminish investment in developing Asia, and rising domestic private debt may hamper growth. New technologies drive higher productivity, the foundation for economic growth, better-paid jobs, and poverty reduction. The latest technologies in robotics and artificial intelligence may threaten some jobs, however, and leave less-skilled workers behind. To maximize gains in productivity while safeguarding social welfare, governments in developing Asia should protect workers but not preserve particular jobs. Meanwhile, they should facilitate the countervailing forces in new technologies that generate new jobs. Dealing with the downsides of new technology requires synchronized effort on skills development, labor regulation, social protection, and income redistribution.

Exports to Jobs

Exports to Jobs
Author: Erhan Artuc
Publisher: World Bank Publications
Total Pages: 215
Release: 2019-02-25
Genre: Business & Economics
ISBN: 1464812497

South Asia has grown rapidly with significant reductions in poverty, but it has not been able to match the fast-growing working age population, leading to lingering concerns about jobless growth and poor job quality. Could export growth in South Asia result in better labor market outcomes? The answer is yes, according to our study, which rigorously estimates—using a new methodology—the potential impact from higher South Asian exports per worker on wages and employment over a 10-year period. Our study shows the positive side of trade. It finds that increasing exports per worker would result in higher wages—mainly for better-off groups, like more educated workers, males, and more-experienced workers—although less-skilled workers would see the largest reduction in informality. How can the benefits be spread more widely? Our study suggests that scaling up exports in labor-intensive industries could significantly lower informality for groups like rural and less-educated workers in the region. Also, increasing skills, and participation of women and young workers in the labor force could make an even bigger dent in informal employment. The region could achieve these gains by: (i) boosting and connecting exports to people (e.g., removing trade barriers and investment in infrastructure); (ii) eliminating distortions in production (e.g., by more efficient allocation of inputs); and (iii) protecting workers (e.g., by investing in education and skills).

South Asia Economic Focus

South Asia Economic Focus
Author: World Bank
Publisher: World Bank Publications
Total Pages: 202
Release: 2021
Genre: Business & Economics
ISBN: 1464817006

South Asia region’s economies are beginning to recover, though unevenly: economic activity in industry and export sectors have recovered to pre-COVID levels but some labor-intensive services sectors and tourism have not. Inequality has worsened on many dimensions. The process of vaccinating South Asia’s population is underway, with India taking a leading role in production. The socioeconomic benefits of vaccinating most South Asians as soon as possible outweighs the cost by multiple times, and thus justifies having public sector financing. Cracks in the primary health care system became evident since the pandemic began, and the vaccine rollout is likely to have other additional challenges such as delays in production, bottlenecks in supply chain logistics and vaccine hesitancy from some groups (which could delay the process of herd immunity). There are also tradeoffs in the priorities that should be established in deciding who gets the vaccine first.

Reshaping Tomorrow

Reshaping Tomorrow
Author: Ejaz Ghani
Publisher: OUP India
Total Pages: 0
Release: 2011-10-13
Genre: Business & Economics
ISBN: 9780198075028

This volume, by distinguished economists and policymakers, presents a balanced outlook on growth in South Asia. The essays analyse the impact of demographics, globalization, human mobility, and the rise of the middle class in accelerating growth in the face of transformational challenges-modernization, inclusiveness, and vulnerability/risk in the region.

Human Capital Development in South Asia

Human Capital Development in South Asia
Author: Asian Development Bank
Publisher: Asian Development Bank
Total Pages: 302
Release: 2017-12-01
Genre: Business & Economics
ISBN: 9292610392

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.

Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth

Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth
Author: Kym Anderson
Publisher: Asian Development Bank
Total Pages: 217
Release: 2020-06-01
Genre: Law
ISBN: 9292621955

Uzbekistan has achieved sustained growth through its gradual transition to a market-based economy through cautious economic policy reforms. Despite its gradual approach to development challenges, the country experienced the smallest output decline among former Soviet economies and enjoyed high rates of economic growth from 2004 to 2015, largely driven by the high prices of its major export commodities. However, the drop in the global prices of many key commodities in recent years have severely impacted Uzbekistan's economy. Under these circumstances, the new government introduced major reforms. The pace of reform is unprecedented. The government has formulated its long-term economic strategy in its Vision 2030, which aims to double the country's gross domestic product by 2030 through a program of economic diversification. This book analyzes how Uzbekistan can boost sustainable economic growth to create more and better jobs. It considers how the country can consolidate achievements from recent policy reforms and maintain reform efforts to accelerate sustainable growth. Policy recommendations cover fostering macroeconomic stability, increasing investment in physical infrastructure, enhancing human capital, improving firms' access to finance, and lowering barriers to international trade and foreign investment inflows.

Asian Development Outlook 2020

Asian Development Outlook 2020
Author: Asian Development Bank
Publisher: Asian Development Bank
Total Pages: 737
Release: 2020-04-01
Genre: Business & Economics
ISBN: 9292621564

After a disappointing 2019, growth prospects in developing Asia have worsened under the impact of the current health crisis. Signs of incipient recovery near the turn of this year were quickly overthrown as COVID-19 broke out in January 2020 in the region’s largest economy and subsequently expanded into a global pandemic. Disruption to regional and global supply chains, trade, and tourism, and the continued spread of the outbreak, leave the region reeling under massive economic shocks and financial turmoil. Across Asia, the authorities are responding with policies to contain the outbreak, facilitate medical interventions, and support vulnerable businesses and households. Assuming that the outbreak is contained this year, growth is expected to recover in 2021. Especially to face down fundamental threats such as the current medical emergency, innovation is critical to growth and development. As some economies in developing Asia challenge the innovation frontier, many others lag. More and better innovation is needed in the region to sustain growth that is more inclusive and environmentally sustainable. Five key drivers of innovation are sound education, productive entrepreneurship, high-quality institutions, efficient financial systems, and dynamic cities that excite knowledge exchange. The journey to creating an innovative society takes long-term commitment and hard work.

Accelerating Poverty Reduction in Africa

Accelerating Poverty Reduction in Africa
Author: Kathleen Beegle
Publisher: World Bank Publications
Total Pages: 481
Release: 2019-10-09
Genre: Business & Economics
ISBN: 1464812330

Sub-Saharan Africa's turnaround over the past couple of decades has been dramatic. After many years in decline, the continent's economy picked up in the mid-1990s. Along with this macroeconomic growth, people became healthier, many more youngsters attended schools, and the rate of extreme poverty declined from 54 percent in 1990 to 41 percent in 2015. Political and social freedoms expanded, and gender equality advanced. Conflict in the region also subsided, although it still claims thousands of civilian lives in some countries and still drives pressing numbers of displaced persons. Despite Africa’s widespread economic and social welfare accomplishments, the region’s challenges remain daunting: Economic growth has slowed in recent years. Poverty rates in many countries are the highest in the world. And notably, the number of poor in Africa is rising because of population growth. From a global perspective, the biggest concentration of poverty has shifted from South Asia to Africa. Accelerating Poverty Reduction in Africa explores critical policy entry points to address the demographic, societal, and political drivers of poverty; improve income-earning opportunities both on and off the farm; and better mobilize resources for the poor. It looks beyond macroeconomic stability and growth—critical yet insufficient components of these objectives—to ask what more could be done and where policy makers should focus their attention to speed up poverty reduction. The pro-poor policy agenda advanced in this volume requires not only economic growth where the poor work and live, but also mitigation of the many risks to which African households are exposed. As such, this report takes a "jobs" lens to its task. It focuses squarely on the productivity and livelihoods of the poor and vulnerable—that is, what it will take to increase their earnings. Finally, it presents a road map for financing the poverty and development agenda.

Is South Asia Ready for Take Off?

Is South Asia Ready for Take Off?
Author: Mr.Ranil M Salgado
Publisher: International Monetary Fund
Total Pages: 78
Release: 2019-11-04
Genre: Business & Economics
ISBN: 1513518291

Since the mid-1980s, durable reforms coupled with prudent macroeconomic management have brought steady progress to the South Asia region, making it one of the world’s fastest growing regions. Real GDP growth has steadily increased from an average of about 3 percent in the 1970s to 7 percent over the last decade. Although growth trajectories varied across countries, reforms supported strong per capita income growth in the region, lifting over 200 million people out of poverty in the last three decades. Today, South Asia accounts for one-fifth of the world’s population and, thanks to India’s increasing performance, contributes to over 15 percent of global growth. Looking ahead, the authors find that South Asia is poised to play an even bigger role in the global economy, in both relative and absolute terms. India has overtaken China as the fastest growing large economy and South Asia’s contribution to global growth is set to increase, while more mature economies decelerate. Greater economic diversification, with an expansion of the service sector, improvements in education, and a still sizable demographic dividend are among the key elements underpinning this performance. Based on demographic trends, more than 150 million people in the region are expected to enter the labor market by 2030. This young and large workforce can be South Asia’s strength, if supported by a successful high-quality and job-rich growth strategy. Amid a changing global economic landscape, the authors argue that South Asia will need to leverage on all sectors of the economy in a balanced way, supporting improvements in agricultural productivity and a sustainable expansion of manufacturing, while promoting higher-skill services, to achieve this goal.