The world has become relatively less poor in the last few decades. People under conditions of extreme poverty -- that is, living on less than $1.25 per day -- have declined as a proportion of the world population, from 52 percent in 1981 to 22 percent in 2008. Thirty years ago almost 75 percent of the developing world lived with $2 a day or less, this number is down to 43 percent today.
Sub-Saharan Africa (SSA) is home to the world’s poorest countries. The region’s geographical disadvantages are often viewed as an important deterrent to its economic development. A country’s geography directly affects economic development through its effect on disease burden, agricultural productivity or the availability of natural resources. However, the new economic geography (NEG) literature, initiated by Krugman (1991), highlights another mechanism through which geography affects prosperity.
“South Asia continues to grow rapidly and its largest economy, India, is close to becoming a Tiger.”
Sadiq Ahmed and I were inspired to author Accelerating Growth and Job Creation in South Asia when we were asked by the South Asia Chamber of Commerce, SAARC Business Conclave, FICCI, and a number of policy makers, local research institutes, and CEOs to come up with a strategy on what can be done by South Asian countries to accelerate growth and job creation. So we invited the world’s leading scholars to apply their talents to understanding the economies of South Asia. This gave birth to the book.
It is organized along three themes—an overview of South Asia’s growth opportunities and challenges; sources of growth and policies for the future; and the significance of regional cooperation in promoting growth. The essays combine quantitative data with analytical rigor to provide innovative suggestions in terms of policies and institutions that can propel South Asia towards higher growth, while promoting inclusiveness.
- Sri Lanka
- South Asia
- Urban Development
- Science and Technology Development
- Public Sector and Governance
- Private Sector Development
- Macroeconomics and Economic Growth
- Financial Sector
- Culture and Development
- Human Resources
The World Bank released a report this week on the current state of the educational system in India and concluded that while investments and performance have improved at the primary and higher education levels, there remains a rather considerable gap in access, distribution, and achievement at the secondary level.
As India continuously develops and entrenches itself as a major player in the global knowledge economy, the majority of growth have been in the skilled services and manufacturing sectors. This requires that the 12 million young people who join the labor force every year have the necessary skills to access these more lucrative jobs and compete successfully in the global economy, especially as the IT sector has become an essential driver of the economy.
“Evidence from around the world suggests secondary education is critical to breaking the inter-generational transmission of poverty -— it enables youth to break out of the poverty trap.” Lead Education Specialist Sam Carlson said.
However, India's gross enrolment rate (GER) at the secondary level of 52% is lower than the GERs of countries like Sri Lanka (83%) and China (91%). However, I was quite surprised that the rate was also lower than countries with lesser GDP per capita such as Vietnam (72%) and Bangladesh (57%).