Overview

Highlights the remarkable development progress in South Asia, especially the decline in extreme poverty, and how the region can advance in the aftermath of the COVID-19 pandemic and the impact of the war in Ukraine. Steps include a renewed push toward greater trade and financial openness, while responding proactively to the distributional impact and dislocation associated with this structural transformation. Promoting a green and digital recovery remains important. The book explores ways to accelerate the income convergence process in the region, leveraging on the still-large potential demographic dividend in most of the countries. These include greater economic diversification and export sophistication, trade and foreign direct investment liberalisation and participation in global value chains amid shifting regional and global conditions, financial development, and investment in human capital.

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9781513587219

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“ The book is an excellent empirical review of the post-pandemic recovery endeavors undertaken by the South Asian nations with insightful macroeconomic policy analyses toward inclusive growth and sustainable development. Succinct analyses of required reforms in attaining macroeconomic stability along with higher productivity are indicated. This extraordinary book is a mustread for policy planners, researchers, and think tanks dealing with growth and sustainable development.” - Dr. Shamsul Alam, Minister of State, Ministry of Planning, Government of the People's Republic of Bangladesh “The release of the book, an edited volume of chapters on the topic of South Asia's path back to resilient growth, could not have been timelier. As the pandemic recedes into the background, countries must focus more on restoring medium-term growth prospects. With their large populations, South Asian nations have their task cut out as a demographic bulge is both a challenge and an opportunity for them to sustain growth much longer than other countries might be able to. Economic growth will enable them to accumulate resources that would help them meet the development and standard of living aspirations of their households. It will also provide for investing in green technologies and energy transition to deal with climate change and contribute to its mitigation. Therefore, the edited volume is an important exercise. The book reflects on the need for reforms by drawing lessons from South Asia's history and from cross-country comparisons with peers. The return on time invested in perusing its contents would be high for students and teachers of economics and policymakers.” - V. Anantha Nageswaran, Chief Economic Advisor, Government of India

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The International Monetary Fund (IMF) is an international organization of 185 Member Countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries in order to help ease balance of payments adjustments.

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