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HomeEconomyGLOBALIZATION AND THE FUTURE OF NEPALESE ECONOMY – Telegraph Nepal

GLOBALIZATION AND THE FUTURE OF NEPALESE ECONOMY – Telegraph Nepal

Economic Nationalism Revisited-Part 1

Professor Madan Kumar Dahal (Late)

Senior economist and former Chairman Mega Bank, Nepal

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Three years have passed since I wrote a paper on a relatively new theme “Future of Nepalese Economy: Economic Nationalism Reconsidered.” The reactions were sharp and mixed but it was a stimulating exercise prompted by the urge for an in-depth inquiry into the dynamics of economic nationalism as a viable option for small and vulnerable economies like Nepal in a rapidly changing regional environment where ideology is being replaced gradually by market with global boundary, and where competition and efficiency have played a critical role in accelerating the pace of development through comparative cost advantage. The protagonists of globalization and liberalization have argued that vulnerable economies in the twenty-first century would not survive long if they cannot face the challenge of global…

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