Syndicate content

How Should We Best Accelerate Growth and Job Creation in South Asia?

Ejaz Ghani's picture

“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.

This book brings three new perspectives to the economics of growth and job creation in Bangladesh, India, Nepal, Pakistan, and Sri Lanka. First, it brings insight to the setting of priorities and strategies to accomplish the objective of sustained growth and poverty reduction (to quote Mike Spence). Second, it usefully turns the spotlight away from India to the regional context and the long-term economic health of the South Asian countries (to quote Homi Kharas). Third, it powerfully explores the link between regional integration, economic growth, and job creation (to quote Pratap Bhanu Mehta). But are the growth and job creation strategies discussed in this book still relevant in the post-global crisis environment?

The current global crisis may change globalization itself, as both developed and developing countries adjust to global imbalances that contributed to the crisis. The three models of globalization--trade, capital, and economic management--may not be the same in the future. Changes in globalization could change the composition of trade flows, capital flows, and economic management, which in turn, could accelerate or restrain growth.

So will South Asian countries need new strategies for growth and job creation, or are the old strategies discussed in this book still relevant? I welcome feedback on this.

What do you think?


Click here to view the report and read the feature story.

Comments

Submitted by moladi on
Maslow's hierarchy of needs is often depicted as a pyramid consisting of five levels: the four lower levels are grouped together as being associated with physiological needs, while the top level is termed growth needs associated with psychological needs. Deficiency needs must be met first. Once these are met, seeking to satisfy growth needs drives personal growth. Physiological needs These are the basic animal needs for such things as food, warmth, shelter, sex, water, and other body needs The higher needs in this hierarchy only come into focus when the lower needs in the pyramid are satisfied. Once an individual has moved upwards to the next level, needs in the lower level will no longer be prioritized.” The objective of moladi is to address this fundamental need SHELTER. How? Lack of resources, insufficient funds, skills shortage, time constraints, work flow control and waste are key challenges embodied in affordable low cost housing shortages. Our construction technology addresses these issues and this is why individuals and organisations recognise and implement moladi as the solution to shelter and housing needs throughout the world Esteem needs (Ego) All humans have a need to be respected, to have self-esteem, self-respect, and to respect others. People need to engage themselves to gain recognition and have an activity or activities that give the person a sense of contribution, to feel accepted and self-valued, be it in a profession or hobby. Imbalances at this level can result in low self-esteem, inferiority complexes. People with low self-esteem need respect from others. They may seek fame or glory, which again depends on others. However confidence, competence and achievement only need one person and everyone else is inconsequential to one's own success. It may be noted, however, that many people with low self-esteem will not be able to improve their view of themselves simply by receiving fame, respect, and glory externally, but must first accept themselves internally. The objective of moladi is to address this fundamental need ESTEEM. How? We supply low cost housing technology and support transfer of know-how to empower individuals to achieve worth, by meaningful action to raise those at the “bottom of the pyramid” to a higher level. Visit www.moladi.net to see how we apply technology

Submitted by Sharon N on
Moladi, I agree with you. When individuals have their basic needs met, they definitely have more opportunity for growth. In contrast, if one's basic needs are not met, like you outlined, they do not even think in terms of "advancing" themselves by means of education or employment. Also, since many South Asian nations are obviously lacking in resources, individuals are forced to compete with one another for limited resources. This competition among individuals in such countries seems to hinder the promotion of employment. Those with access to resources are constantly concerned that their access will be depleted. So, they are resistant to help other members in the community (to gain access to basic needs and employment) in fear that they might lose their own employment or position in society. If, however, each member of the society has their basic needs met, then they would not be so resistant to helping other members of the society to attain employment. So, if there was some governmental mandate requiring all members of society to have equal access to resources, then this idea of competition would no longer persist. And, once these needs are met, THEN the nation, as a whole, can work on developing ways to create jobs for its citizens.

Submitted by Aron wall on
Its true that south Asia is on the progress path and its gaining prominence now in each and every sphere of life. With the advancement of technology and their growing economies(especially India) these countries have made real progress. Almost all sectors of the economy are touched by advancement be it industrial growth, banks or trade. In recent past industrial growth had been magnificent, banks have become more advanced as they are implementing latest solutions. But still there is a lot that needs to be accomplished. There are still many people who are way below the poverty line.

Add new comment