ISSN No: 1608-6627
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Articles for Volume 11

Macro Economic Models in Developing Countries
[Kamal Raj Dhungel ]

In seeking solutions for various planning and policy issues of economic development, quantitative tools have been used widely. Macro-models influenced by Keynesian income expenditure theory are often used to redress short-term stabilization problems, however, no consensus among policy makers in developing countries exists due to widerspread differentiations remained in the socio-economic conditions and banking practices. On the basis of prevailing macro-economic conditions of the country, various models such as investment function, government investment expenditure, trade-imports and exports, industrial and agricultural sectors, services sector and models governing monetary aspects and revenue have been introduced. Most of the models include lag endogenous variable as an explanatory variable to capture the partial adjustments.

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Impact of Privatization in Nepal
[Fatta Bahadur K. C.]

Privatization of public enterprises have been very much in the agenda of economic liberalisation in contemporary world specially in developing and countries in transition. Different modalities of privatisation with lofty goals such as enhancing productive efficiency, allocative efficiency, economic efficiency and to rescue governments from budgetary burdens. Upon evaluation of private and public undertakings in Nepal it was revealed that public enterprises were capital intensive, better in capacity utilisation, profitability and with high economic returns compared to private undertakings. Barring a few, production level did not increase much. Three out of ten enterprises studied showed a marked improvement in sales of their products after privatisation whereas only two enterprises turned out to be profitable. On various yardsticks such as price, employment and labour productivity, product diversification, privatised enterprises have not been successful to the level committed before privatisation. Privatisation therefore might not be beneficial unless it is accompanied by competition in the market place. The key issue is whether such privatisation better serves the long run development interest of a nation by promoting a more sustainable and equitable pattern of economic and social progress.

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Rural Credit Market Operations in Nepal : The Case of Palpa District
[Tula Raj Basyal ]

Rural credit markets, whether formal or informal, play a pivotal role in transforming the rural economy through financialisation of savings and augumentation, on of production, employment, income and productivity levels. Coverage of informal credit agencies predominate the rural credit market in Nepal. Accessibility, acquaintanceship and flexibility in credit transactions of informal credit agency as compared to various formalities and regidities of the formal or banking institutions have led the users to the informal sector in rural areas. Flexibility in terms of loan delivery, repayments and rescheduling in the informal credit market have added charms among credit receipients. Tapping of strength and potentials of the rural informal credit market becomes instrumental in the process of devising a sustainable and credit strengthening system in the rural economy. However, a legislation encouraging and regulating the operations of financial intermediation is the need of the hour.

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A Preliminary Interpretation of Two Major Household Surveys Conducted in 1996/97
[John Cameron & Navaraj Gyawali]

A synopsis is presented based on the preliminary results of two households economic activity/consumption surveys - the Nepal Living Standard Measurement Survey and Livelihood Trajectory Survey undertaken in 1996/97. The LSMS covered 3,345 households randomly chosen in two tier sampling frame leaving no room for sampling bias. Information is furnished in the tabular form leaving scope for interpretation to the users. The LTS on the other hand derived inputs from 150 households in the selected five districts of Western Nepal where sample was designed to test the dramatic changes brought about in 20 years period to draw comparison as to the findings of similar surveys held in the past. Measures to guage changes in overall economic conditions, in general and employment, land use and technology change in agriculture, loans and collateral, and irrigation and remittances, in particular are used.

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