By Anjum Siddiqui
ISBN-10: 0765614529
ISBN-13: 9780765614520
South Asia has develop into a tremendous focal point at the international degree with the U.S. army involvement in Afghanistan because Sept. 11, the continuing drawback over Islamic fundamentalism in Pakistan, and India's emergence as a nearby financial energy. furthermore, the age-old difficulties of South Asia - mass poverty, terrible infrastructure, misgovernance, rampant corruption, political uncertainty, and local wars - upload to the elevated curiosity within the area. Incorporating the most up-tp-date info to be had, the professional overseas members to this instruction manual research the economies and geo-political advancements of India, Pakistan, Afghanistan, Nepal, Bangladesh, Sri Lanka, and Bhutan. They specialize in 3 middle parts of value: exchange and improvement within the post-WTO period of globalization; macroeconomic adjustment and financial development; and poverty, governance, the warfare on terror, and social symptoms. With its innovative research, the instruction manual is a vital reference for all scholars, researchers, and practitioners facing the zone.
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Additional resources for India And South Asia: Economic Developments in the Age of Globalization
Sample text
This ratio ranged from less than 7 percent in India to 29 percent in Sri Lanka. Pakistan saw a dramatic improvement in the ratio from 100 percent in 2000 to less than 17 percent in 2003. This was due to significant aid inflows from the United States and G-8 countries, and debt rescheduling. The debt-service ratio is the ratio of interest and principal payments on debt to the exports of goods and services. It is an important measure of country risk assessment by rating agencies and lenders. 8 percent in 2003.
While reduction in deficits as a condition for aid is not bad, per se, this condition has not been properly implemented, and the World Bank/IMF have allowed the LDCs to cut back social spending SOUTH ASIA AT A GLANCE: A TAXONOMY OF GROWTH CHALLENGES 25 in education and health as long as they meet the conditions of reductions in budget deficits. The more sensible conditionality would have been to reduce administrative and defense expenditures and not development funding. Thus the World Bank/IMF is partly responsible for the decline in social spending in South Asia, and especially in Pakistan.
The net impact of large capital inflows on a developing country would be adverse due to both higher inflation and an overvalued currency. Higher prices would largely hurt the lower- and middle-income population and an appreciated currency would reduce exports and jobs in the export-related industries. Thus capital inflows can contribute to poverty in aid recipient countries. Causal empiricism suggests that this is indeed being observed in some aid-receiving South Asian countries, such as Pakistan.