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Time for South Asia to deal with fiscal weaknesses

Annette Dixon's picture
South Asia Economic Focus Spring 2016 Fading Tailwinds cover


There’s a lot of good news in the World Bank’s latest economic report on South Asia: the region is the fastest growing in the world and its limited exposure to global economic turbulence means that its near-term prospects look good. 

Make in India: Which exports can drive the next wave of growth?

Saurabh Mishra's picture
Structural transformation depends not only on how much countries export but also on what they export and with whom they trade. In my new IMF working paper with Rahul Anand and Kalpana Kochhar, we break new grounds in analyzing India’s exports by the technological content, quality, sophistication, and complexity of India’s export basket. The paper can be found here. Here are few key pieces of evidence from our paper:
 
Technological content of India’s exports   

The evolution of Indian exports has not followed a “textbook” pattern. The pattern of evolution points to a dichotomy in the Indian economy – a well integrated, technologically advanced services sector and a relatively lagging manufacturing sector. The share of service exports in total exports has grown to over 32 percent in 2013 from 28 percent in 2000. On the other hand, the share of manufacturing exports in total export has declined to 67 percent from nearly 80 percent during 1990-2013.
 
The growth in service exports has been more rapid, resulting in the share of services exports in total exports to increase rapidly over the last decade. This can be explained by technological changes. Many services do not require face-to-face interaction, and can be stored and traded digitally. These services are called modern services. Modern services are the fastest growing sector of the global economy. This is particularly evident in India, where modern services exports account for nearly 70 percent of the total commercial services exports (compared to around 35 percent in EMs) (see Figure 1). 
      
Figure 1. Rapid Growth in Modern Services from India

Equal opportunity to women benefits all

Annette Dixon's picture
Also available in: 日本語


Celebrating the women of South Asia

As we today mark UN Women’s Day, it is worth considering what the inequality between men and women costs South Asian countries and what can be done about it. 

One big cost of inequality is that South Asian economies do not reach their full potential. In Bangladesh, for example, women account for most unpaid work, and are overrepresented in the low productivity informal sector and among the poor. Raising the female employment rate could contribute significantly to Bangladesh achieving its goal in 2021 of becoming a middle-income country. Yet even middle-income countries in South Asia could prosper from more women in the workforce. Women represent only 34 percent of the employed population in Sri Lanka, a figure that has remained static for decades.

Economic opportunities for women matter not just because they can bring money home. They also matter because opportunities empower women more broadly in society and this can have a positive impact on others.  If women have a bigger say in how household money is spent this can ensure more of it is spent on children.

Improvements in the education and health of women have been linked to better outcomes for their children in countries as varied as Nepal and Pakistan. In India, giving power to women at the local government level led to increases in public services, such as water and sanitation.

Just as the costs of inequality are huge, so is the challenge in overcoming it. The gaps in opportunity between men and women are the product of pervasive and stubborn social norms that privilege men’s and boys’ access to opportunities and resources over women’s and girls’.

 

The growing role of women in disaster risk management

Malini Nambiar's picture
Also available in: 日本語
Women Community Leaders
Women community leaders. Photo Credit: World Bank


Women are seen in their traditional role of home-makers, but might their ability to take on managerial roles in disaster risk management be underestimated?
 
As part of the India Disaster Risk Management team, I travelled on the “Road2Resilience” bus journey along the entire coast of India. Along with the team’s mission to provide implementation support to the six coastal disaster management projects, I also focused on women’s participation in the mitigation activities of these projects.
 
Women’s participation in Disaster Risk Management in India has been sporadic. However, my interactions with the community - especially women - highlighted how women in coastal India are seriously taking disaster risk management into their own hands.

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