Navigating Nepal’s development trajectory: The road to graduation from the LDC status and beyond

IF 1.8 Q2 ECONOMICS Local Economy Pub Date : 2024-07-31 DOI:10.1177/02690942241270566

Ghanshyam Gautam, Saugat Pratap KC, Bikram Adhikari, Sushil Chandra Baral

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Abstract

Nepal’s imminent graduation from the Least Developed Country (LDC) status marks a significant milestone in its development trajectory, highlighting substantial progress in economic, social, and human development indicators. This transition necessitates a strategic approach to capitalize on newfound opportunities while mitigating associated challenges. Drawing on insights from socio-economic indicators and economic evolution data, this paper assesses Nepal’s readiness for graduation and outlines key priorities for its post-LDC journey. Emphasizing sustainable development aligned with the Sustainable Development Goals (SDGs), the paper advocates for in-country resource mobilization, system strengthening with a localization focus, human capital development, market access facilitation, resilience building, and promotion of foreign direct investment. By leveraging international support, prioritizing strategic initiatives, and fostering conducive environments for growth and investment, Nepal can navigate the transition effectively and pave the way for inclusive, resilient, and sustainable development.

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引领尼泊尔的发展轨迹：摆脱最不发达国家地位及其后的发展之路

尼泊尔即将摆脱最不发达国家（LDC）地位，这标志着尼泊尔发展轨迹上的一个重要里程碑，凸显了尼泊尔在经济、社会和人类发展指标方面取得的巨大进步。为了实现这一转变，有必要采取一种战略方法来利用新发现的机遇，同时减轻相关的挑战。本文通过对社会经济指标和经济演变数据的深入分析，评估了尼泊尔为脱离最不发达国家地位所做的准备，并概述了其后最不发达国家历程中的关键优先事项。本文强调与可持续发展目标（SDGs）相一致的可持续发展，主张调动国内资源、加强以本地化为重点的系统、人力资本开发、市场准入便利化、复原力建设以及促进外国直接投资。通过利用国际支持、确定战略举措的优先次序以及营造有利于增长和投资的环境，尼泊尔可以有效地驾驭转型，并为包容性、复原力和可持续发展铺平道路。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Local Economy ECONOMICS-

CiteScore

3.20

自引率

6.20%

发文量

期刊介绍： Local Economy is a peer-reviewed journal operating as an interdisciplinary forum for the critical review of policy developments in the broad area of local economic development and urban regeneration. It seeks not only to publish analysis and critique but also to disseminate innovative practice. One particular concern is with grassroots community economic development strategies and the work of voluntary organisations, considered within the context of wider social, political and economic change.