Macro Economics: A Radical Rethinking in Growth, Inequality and Inclusiveness in Nepal

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The present book aims at complementing the Government of Nepal's initiative to bring about second generation economic reforms by addressing the binding constraints to development and its consequences to maintain high, broad-based sustainable and inclusive growth.

The realization today is the fact that in the developed countries, the era of high economic expansion is over. Redesigning the industrialization and development models as new drivers to growth is required. To do this, new knowledge frontiers are being discussed and the importance of exploring extensively the new drivers is also realized in developing countries as well.

At a time when growth was possible and poverty reduction was satisfactory, available data in Nepal's Living Standard Surveys shows there was widening disparity in income and non-income outcomes with increasing inequality between the rich and poor and the disadvantaged sections of the people. Unless existing models of development is restructured the question of accelerated, broad-based, sustainable and inclusive growth will remain unanswered. This would mean the threat to government's so-called second generation reform.

With this in mind, the book explores new areas of threats and opportunities and develops roadmap for development by especially focusing on macroeconomic challenges, fiscal reforms, investment and employment, external sector regime, partial and total factor productivity, social sector and energy security. The book also examines how well-developed economic instruments can correct macroeconomic anomalies and keep the development policies on track.

BISHWAMBHER PYAKURYAL is a professor of economics who taught Economics at Tribhuvan University for 39 years. He holds Masters and Ph.D. in Economics from Tribhuvan University and Masters in International Affairs majoring in Development Studies from Ohio University. As a Senior Fulbright Scholar he has also completed Post-doctoral Research in Economics from the University of Maryland at College Park, USA.

Professor Pyakuryal, a reputed UN consultant has been professional Associate at the East-West Center, Honolulu; a Scholar-in-Residence of the Rockefeller Foundation in Italy; and a visiting scholar at the International Food Policy Research Institute (IFPRI) in Washington, D.C. He is currently, a member of the high-level financial sector strategy committee, a member of the advisory board of the Office of Auditor General, and a member of the High-Level Economic Diplomacy, Monitoring and Evaluation Committee, Ministry of Foreign Affairs. Dr. Pyakuryal has written, co authored and edited thirteen books and published research articles in accredited national and international journals.

Book's Contents and Sample Pages