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A Revisit of the East Asian Development Experiences in the Context of South Asia

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  • Prakash Kumar Shrestha Ph.D.

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    (Nepal Rastra Bank)

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    Abstract

    This paper compares the level of economic development in South Asia and East Asia, and explores the features of East Asian Development experiences and existing situation in South Asia. Several development indicators such as per capita income, human development index and millennium development goals' indicators reveal that South Asia is far behind many East Asian countries where some distinctive features of the development process were followed in the past such as developmental role of the state, high savings and investment, emphasis on the manufacturing sector, export-led growth, focus on infrastructure and human capital as reflected in macroeconomic data. However, data show that South Asia lack these features. South Asia should follow these features to accelerate economic progress, including giving focus on productive use of remittance, and achieve an increasing return in service sectors considering changing circumstances.

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    File URL: http://www.nrb.org.np/ecorev/pdffiles/nrbwp201318.pdf
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    Bibliographic Info

    Paper provided by Nepal Rastra Bank, Research Department in its series NRB Working Paper with number 18/2013.

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    Length: 22 pages
    Date of creation: Oct 2013
    Date of revision:
    Handle: RePEc:nrb:wpaper:nrbwp201318

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    Web page: http://www.nrb.org.np/ecorev/
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    Keywords: South Asia; East Asia; Economic Development; East Asian Development Model;

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    1. Andrea Boltho & Maria Weber, 2009. "Did China follow the East Asian development model?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 6(2), pages 267-286, December.
    2. Anne O. Krueger, 1995. "East Asian Experience and Endogenous Growth Theory," NBER Chapters, in: Growth Theories in Light of the East Asian Experience, NBER-EASE Volume 4, pages 9-36 National Bureau of Economic Research, Inc.
    3. Yilmaz Akyuz & Ha-Joon Chang & Richard Kozul-Wright, 1998. "New perspectives on East Asian development," Journal of Development Studies, Taylor & Francis Journals, vol. 34(6), pages 4-36.
    4. Ejaz Ghani, 2011. "Reshaping Tomorrow : Is South Asia Ready for the Big Leap?," World Bank Publications, The World Bank, number 16360, July.
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