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Economic Reforms in SAARC Countries
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Economic Reforms in SAARC Countries
Impact of LPG on Development Indicators



December 2019 | 288 pages | SAGE Publications Pvt. Ltd

Economic Reforms in SAARC Countries presents a cross-country comparison of development indicators in the SAARC countries with respect to the recent Liberalization, Privatization and Globalization (LPG). Presenting an empirical analysis, the book brings in the theoretical background relating to the growth of public expenditure as articulated by Adolf Wagner and other researchers in the 19th and early 20th centuries along with the Displacement Effect Hypothesis as advanced by Peacock and Wiseman in the mid-20th century. This book re-examines these theories and the views of researchers with respect to the changes in economic policies and studies the relevance of these in the present context. The book re-interprets the theories in the light of the impact of policy changes with time series analysis highlighting the changes in the structure of the estimated equation using dummy variables.

The book discusses the differential growth of a few macro-economic variables in the SAARC countries with respect to time in the pre- and post-LPG period. It examines the determinants of development indicators in the post-LPG period identifying the most important determinants.



 
Preface
 
Acknowledgements
 
Chapter 1: Introduction
 
Introduction
 
The Impact of LPG on South Asian Countries: A Brief Literature Review
 
Indicators of Development
 
Organization of the Chapters
 
Chapter 2: Revisiting Wagner’s Law, PW Hypothesis and Structural Break
 
Wagner’s Law
 
PW Hypothesis (the Displacement Effect Hypothesis) and the Related Studies
 
PW Hypothesis and the Rationale of Interpreting It as a Theory of Structural Break
 
Methodological Issues in Testing the PW Hypothesis
 
Time versus Per Capita Income
 
Conclusions about the PW Hypothesis
 
‘Global’ (Major) versus ‘Non-Global’ Social Upheaval
 
Critical Re-examination of Wagner’s Law and the PW Hypothesis
 
Changes in the Economic Policies and Assessment of Its Impact
 
Objective of the Present Study and the Methodology
 
Chapter 3: Liberalization, Privatization and Globalization (LPG) in the SAARC Countries in Historical Perspective
 
The Inception of SAARC: A Brief Background
 
LPG in SAARC Countries: A Brief Literature Review
 
Brief Historical Background of the Indian Subcontinent and Economic Liberalization
 
Observation
 
Chapter 4: Impact of LPG on the Growth of Development Indicators
 
Introduction
 
Section I
 
Graphical Analysis with Respect to Policy Change
 
Concluding Remark
 
Section II
 
Trend Analysis
 
Chapter 5: Determinants of Development Indicators in the Post LPG Era
 
Introduction
 
Objectives and the Rationale of Determinant Study
 
Findings
 
Comparison of the Determinants of the Development Indicators across the SAARC Countries
 
Chapter 6: Summary and Conclusions
 
Conclusions on Wagner’s’ Law and PW Hypothesis
 
Growth of Macro-variables and Impact Assessment
 
SAARC Countries
 
Summary of the Empirical Findings: A Concluding Remark
 
Limitations of the Study
 
Appendices: Tables and Statistical Output
 
Bibliography
 
Index

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ISBN: 9789353286712
$65.00