Tale or Reality about Two Asian Regions | Chapter 5 | New Advances in Business, Management and Economics Vol. 8

By 2024, South Asia will be the next region for economic growth. Reaching this expectation may be dependent on significant changes. In 1970, the per capita gross domestic product for the countries of South Asia and Southeast Asia was similar. Except for Singapore, the countries of Southeast Asia suffered from low levels of education, low participation of women in the workforce, poor infrastructure, low inward flows of FDI, and high barriers to trade. The Vietnam War encompassed Vietnam, Cambodia, and Laos. Indonesia was controlled by Suharto, and Burma (Myanmar) was among the poorest countries outside of sub-Saharan Africa. Fast forward five decades, and the countries of Southeast Asia have undergone dramatic change and have outperformed South Asia. The recent success of South Asia is the product of starting from a low level of performance during the pandemic rather than significant structural changes. For South Asia, replicating the performance of Southeast Asia will depend on removing cultural, regulatory, social, and economic barriers. This study identifies gender disparities, policy barriers, and a lack of regional cooperation as critical hindrances to South Asia’s growth.

 

Author (s) Details

Arthur Kraft
Chapman University, United States.

John Kraft
University of Florida, United States.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v8/5672