NRB Economic Review最新文献_第10页

Export Diversification and Competitiveness: Nepal’s Experiences 出口多样化与竞争力:尼泊尔的经验

NRB Economic Review Pub Date : 2009-12-26 DOI: 10.3126/nrber.v21i1.52805

Bhubanesh Pant, Rajan Krishna Panta

{"title":"Export Diversification and Competitiveness: Nepal’s Experiences","authors":"Bhubanesh Pant, Rajan Krishna Panta","doi":"10.3126/nrber.v21i1.52805","DOIUrl":"https://doi.org/10.3126/nrber.v21i1.52805","url":null,"abstract":"Nepal’s policy regime has not been very instrumental in improving trade competitiveness. Although policy measures have been announced from time to time to identify new exportable products and encourage diversification of export markets, these have hardly been executed. The challenge for Nepal is complicated by the legacy of the past. Against this perspective, this paper a) examines the export scenario of Nepal and reviews the past studies on the country's export potential; b) illustrates Nepal's competitiveness of the export sector; and c) suggests measures for promoting export diversification and competitiveness. Based on the estimation of the real effective exchange rate (REER), this paper shows that the country is gradually losing its competitiveness. Although various studies have demonstrated that Nepal possesses competitive advantage in herbal products, woollen carpets, tea, garments and pashmina, among others, a comprehensive case-by-case analysis of home and host countries trading environment, supply and demand conditions, cost of production, capacity to innovate, as well as its forward and backward linkages should be conducted to translate the export potential to the actual trading opportunities.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128498771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 9

The Composition of Public Expenditure, Physical Infrastructure and Economic Growth in Nepal 尼泊尔公共支出构成、物质基础设施与经济增长

NRB Economic Review Pub Date : 2009-12-26 DOI: 10.3126/nrber.v21i1.52806

Prakash Shrestha

引用次数: 8

Development of the Nepalese Financial System: Need for the Formulation of a Master Plan 尼泊尔金融体系的发展:制定总体规划的必要性

NRB Economic Review Pub Date : 2009-12-26 DOI: 10.3126/nrber.v21i1.52803

N. Maskay, Satyendra Raj Subedi

引用次数: 11

Long-run Relationships of Macroeconomic Variables in Nepal: A VAR Approach 尼泊尔宏观经济变量的长期关系:VAR方法

NRB Economic Review Pub Date : 2009-12-26 DOI: 10.3126/nrber.v21i1.52807

T. Koirala

{"title":"Long-run Relationships of Macroeconomic Variables in Nepal: A VAR Approach","authors":"T. Koirala","doi":"10.3126/nrber.v21i1.52807","DOIUrl":"https://doi.org/10.3126/nrber.v21i1.52807","url":null,"abstract":"This paper utilizes cointegration procedure of Johansen and Juselius (1990) in estimating the long run economic relationships of macroeconomic variables comprising M2 monetary aggregate, Real Gross Domestic Product (RGDP), Consumer Price Index (CPI) and Interest Rate (RT) using annual data ranging from 1975 to 2006. Since one cointegrating vector is found to be statistically significant among the variables under consideration, the result is tantamount to deducing the coefficients of Error Correction Model (ECM). In an application of the Augmented Dickey and Fuller (ADF) test to examine the presence of unit roots in the variables prior to the variables used in estimating long run relationships, the ADF sequential search procedure supports an existence of unit roots in all the variables. This paper also estimates the demand for money function in Nepal as an application of long run relationships between the variables using the said procedure. The coefficients of income and interest rate elasticity of M1 so estimated as depicted by the normalized cointegrating vector are in line with theoretical underpinning. Since the coefficients estimated in this paper rely on restricted VAR method that are contrary to the past practices in estimating cointegrating vector using the Engle-Granger (1987) two-step procedure in Nepal, the coefficients are supposed to be robust and consistent owing to the stronger restrictions imposed by cointegrating vector as against the a theoretical VAR approach.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"147 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127461754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Interest Rate Pass-Through in Nepal 尼泊尔的利率传递

NRB Economic Review Pub Date : 2009-11-01 DOI: 10.3126/nrber.v22i1.52798

N. Maskay, R. Pandit

{"title":"Interest Rate Pass-Through in Nepal","authors":"N. Maskay, R. Pandit","doi":"10.3126/nrber.v22i1.52798","DOIUrl":"https://doi.org/10.3126/nrber.v22i1.52798","url":null,"abstract":"The paper examines the interest rate pass through of the policy interest rate to the market interest rate in Nepal. The span of the empirical exercise covers the phase of interest rate liberalization commencing from the first quarter of 1989/1990 to the final quarter of 2008/2009. The result suggests that there is a significant long run elasticity coefficient of the policy rate (taken to be the bank rate) to the different market rates (e.g. 1 yr fixed deposit, lending rate and saving rate), but there is only one error correcting relationship between the bank rate and the lending rate in the short run. However, the speed of adjustment, i.e. the adaptation coefficient, indicates a weaker adjustment of the short-term dynamics to the long run equilibrium. Looking at the sub-sample, which coincides with the promulgation of the NRB Act 2002, the period starting from the third quarter of 2001/2002 to the final quarter of 2008/2009, suggests that there is insignificant elasticity coefficient between the policy rate and two of the above-mentioned market rates. Paradoxically, while the elasticity coefficient between the policy rate and lending rate is found to be significant, it is negative! Overall, the situation indicates that at present, the bank rate in Nepal is ineffective in influencing the market rates and suggests that there are other factors at play. The paper ends by recommending introduction of a more effective indicator of monetary stance, greater awareness of external factors when making monetary policy, and enhancing and guiding the development of the domestic financial sector for equitable financial development and growth.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"129 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129367900","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 10

Private Savings Behaviour in Nepal: Longterm Determinants and Short-run Dynamics 尼泊尔的私人储蓄行为:长期决定因素和短期动态

NRB Economic Review Pub Date : 2008-12-30 DOI: 10.3126/nrber.v20i1.52809

R. Shrestha

引用次数: 3

Economic Impact of Tourism Finance in Nepal 尼泊尔旅游金融的经济影响

NRB Economic Review Pub Date : 2008-12-30 DOI: 10.3126/nrber.v20i1.52970

B. P. Gautam

引用次数: 8

Contribution of Foreign Employment and Remittances to Nepalese Economy 外国就业和汇款对尼泊尔经济的贡献

NRB Economic Review Pub Date : 2008-12-30 DOI: 10.3126/nrber.v20i1.52808

B. Shrestha

{"title":"Contribution of Foreign Employment and Remittances to Nepalese Economy","authors":"B. Shrestha","doi":"10.3126/nrber.v20i1.52808","DOIUrl":"https://doi.org/10.3126/nrber.v20i1.52808","url":null,"abstract":"This paper assesses the contribution of foreign employment and remittances to Nepalese economy and also identifies the information needs and gaps. An attempt is also made to assess the role of remittances in poverty reduction. At a time when the country's major economic indicators are not favorable, the remittances have played a vital role in maintaining macro economic stability and keeping the economy afloat. Though remittances sent home by migrant workers is a boon to the economy, the facilities are inadequate to back up the increasing trend of migration. Inadequate information on foreign employment, lack of skill training and lack of assurance of safe working environment and rights of the migrant workers have obstructed foreign employment.Formulation and effective implementation of pro poor migration policy is the need of today. The government should play a proactive role to promote foreign employment by inducting and adhering to the policy of economic diplomacy. Replicating the best practice of the region has to be endorsed in our national context for promotion and regularization of foreign employment, to encourage official transfer of remittance and to streamline the asset and skill of the returnees for the economic development of the country.","PeriodicalId":372963,"journal":{"name":"NRB Economic Review","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116892293","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 24

Unanticipated Political Events and Stock Returns: An Event Study 意外政治事件与股票收益:事件研究

NRB Economic Review Pub Date : 2008-12-30 DOI: 10.3126/nrber.v20i1.52973

Jeetendra Dangol

引用次数: 35

The HIPC Initiative, MDRI and Nepal: A Re-examination 重债穷国倡议、MDRI和尼泊尔:重新审视

NRB Economic Review Pub Date : 2008-12-30 DOI: 10.3126/nrber.v20i1.52968

Bhubanesh Pant, Biggyan Raj Subedi

引用次数: 1