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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.

    () (Nepal Rastra Bank)

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.

Suggested Citation

  • Prakash Kumar Shrestha Ph.D., 2013. "A Revisit of the East Asian Development Experiences in the Context of South Asia," NRB Working Paper 18/2013, Nepal Rastra Bank, Research Department.
  • Handle: RePEc:nrb:wpaper:nrbwp201318
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    File URL: http://www.nrb.org.np/ecorev/pdffiles/nrbwp201318.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Ejaz Ghani, 2011. "Reshaping Tomorrow : Is South Asia Ready for the Big Leap?," World Bank Publications, The World Bank, number 16360.
    3. 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.
    4. 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.
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    More about this item

    Keywords

    South Asia; East Asia; Economic Development; East Asian Development Model;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • H19 - Public Economics - - Structure and Scope of Government - - - Other
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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