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South Asia Economic Focus, Fall 2019: Making (De)centralization Work

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dc.contributor.authorWorld Bank
dc.date.accessioned2019-10-08T19:20:43Z
dc.date.available2019-10-08T19:20:43Z
dc.date.issued2019-10-13
dc.description.abstractGlobal GDP growth is decelerating, while trade and industrial production are stagnating. The slowdown has been severe in South Asia, which in recent quarters was no longer the fastest growing region in the world. In most South Asian countries, growth is expected to be below long-run averages this year but there is significant diversity evident in the high frequency data of industrial production. Current account deficits have declined, as is often the case during economic downturns. Inflation remains near target in most countries, but food price inflation is picking up. Growth forecasts for South Asia are revised downward considerably as uncertainty in global markets and a worsening global outlook have become more important drivers of the forecast. The expected modest recovery to 6.3 percent in 2020 and 6.7 percent in 2021 is tentative as forecasts under current circumstances, particularly for investment, are highly uncertain. In many countries across the region, further decentralization is a high policy priority. These policies are part of a global decentralization trend, which aims to improve local service delivery. Empirical evidence of the effectiveness of decentralization is mixed, a result which is often attributed to partial decentralization. Successful development requires both decentralization and centralization at the same time. In the interplay between central and local governments, the allocation of resources plays a crucial role. In South Asia, a lack of geospatial data on expenditure and development outcomes remains a major constraint.en
dc.identifierhttp://documents.worldbank.org/curated/en/111541571218505623/South-Asia-Economic-Focus-Fall-2019-Making-De-centralization-Work
dc.identifier.doi10.1596/978-1-4648-1515-7
dc.identifier.isbn978-1-4648-1515-7
dc.identifier.urihttps://hdl.handle.net/10986/32515
dc.languageEnglish
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC RISKS
dc.subjectEXTERNAL VULNERABILITY
dc.subjectFISCAL POLICY
dc.subjectINFLATION AND PRICES
dc.subjectINVESTMENT
dc.subjectMACROECONOMIC DEVELOPMENT AND OUTLOOK
dc.subjectTRADE
dc.titleSouth Asia Economic Focus, Fall 2019en
dc.title.subtitleMaking (De)centralization Worken
dc.typeSerialen
dc.typeSérielfr
dc.typeSeriales
dspace.entity.typePublication
okr.crossref.titleSouth Asia Economic Focus: Rethinking Decentralization
okr.date.disclosure2019-10-13
okr.date.doiregistration2025-04-07T08:20:34.190132Z
okr.date.doiregistration2025-04-08T16:09:35.637262Z
okr.date.doiregistration2025-04-09T02:57:27.435035Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Publication
okr.guid111541571218505623
okr.identifier.doi10.1596/978-1-4648-1515-7
okr.identifier.doihttps://doi.org/10.1596/978-1-4648-1515-7
okr.identifier.internaldocumentum211515
okr.identifier.report142628
okr.importedtrueen
okr.language.supporteden
okr.region.administrativeSouth Asia
okr.region.countryAfghanistan
okr.region.countryBangladesh
okr.region.countryBhutan
okr.region.countryIndia
okr.region.countryMaldives
okr.region.countryNepal
okr.region.countryPakistan
okr.region.countrySri Lanka
okr.region.geographicalSouth Asia
okr.topicInternational Economics and Trade::Capital Flows
okr.topicInternational Economics and Trade::Trade Finance and Investment
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Achieving Shared Growth
okr.unitSARCE
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