From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal
As a small, landlocked economy, Nepal’s development prospects are closely tied to its ability to increase integration in the regional and global marketplace. Despite significant changes in Nepal’s trade sector over the past decade, the country’s ex...
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World Bank, Washington, DC
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| Online Access: | http://documents.worldbank.org/curated/en/2016/07/26564537/evidence-policy-supporting-nepal’s-trade-integration-strategy-designing-institutions-promote-trade-investment-nepal-policy-note-5 http://hdl.handle.net/10986/24933 |
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okr-10986-249332021-05-25T08:50:37Z From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal Gomez Mera, Laura trade policy investment trade facilitation trade promotion As a small, landlocked economy, Nepal’s development prospects are closely tied to its ability to increase integration in the regional and global marketplace. Despite significant changes in Nepal’s trade sector over the past decade, the country’s export performance has remained poor, with exports growing at a much slower pace than imports. Nepal’s external vulnerability is deepened by its dependence on remittances to finance growing trade deficits.Achieving greater integration in the global economy and building a competitive export sector will require overcoming various economic and institutional challenges. This paper assesses the performance of these organizations in their role of promoting exports and investment. It has two main objectives. First, we describe the main export and investment promotion institutions in Nepal and examine their mandates, missions, and the services they offer.Second, we look at international best practices in export and investment promotion, to identify cost effective approaches appropriate for small developing countries. Based on this, we provide a number of recommendations for strengthening and improving the role of export and investment support organizations and initiatives in Nepal, as well as the level of coordination and cooperation among them. The report is organized as follows. In the next section, we briefly review the economic rationale for public intervention in the promotion of exports and investment and summarize the main findings of the literature regarding the most effective institutional designs and practices. We also discuss the arguments for and against a merger of the two activities within a single institution. Section three describes and assesses the institutional framework for export and investment promotion in Nepal. In Section four, we examine four case studies of “best practices” in the promotion of exports and export-oriented investment –Costa Rica, Jamaica, Colombia, and Latvia. We also discuss examples of successful promotion and development of the links between the tourism sector and exports, Mauritius, which offers some lessons for the case of Nepal. The final section contains the policy recommendations. 2016-08-25T15:49:27Z 2016-08-25T15:49:27Z 2016-06-01 Report http://documents.worldbank.org/curated/en/2016/07/26564537/evidence-policy-supporting-nepal’s-trade-integration-strategy-designing-institutions-promote-trade-investment-nepal-policy-note-5 http://hdl.handle.net/10986/24933 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work South Asia Nepal |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
trade policy investment trade facilitation trade promotion |
| spellingShingle |
trade policy investment trade facilitation trade promotion Gomez Mera, Laura From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal |
| geographic_facet |
South Asia Nepal |
| description |
As a small, landlocked economy, Nepal’s
development prospects are closely tied to its ability to
increase integration in the regional and global marketplace.
Despite significant changes in Nepal’s trade sector over the
past decade, the country’s export performance has remained
poor, with exports growing at a much slower pace than
imports. Nepal’s external vulnerability is deepened by its
dependence on remittances to finance growing trade
deficits.Achieving greater integration in the global economy
and building a competitive export sector will require
overcoming various economic and institutional challenges.
This paper assesses the performance of these organizations
in their role of promoting exports and investment. It has
two main objectives. First, we describe the main export and
investment promotion institutions in Nepal and examine their
mandates, missions, and the services they offer.Second, we
look at international best practices in export and
investment promotion, to identify cost effective approaches
appropriate for small developing countries. Based on this,
we provide a number of recommendations for strengthening and
improving the role of export and investment support
organizations and initiatives in Nepal, as well as the level
of coordination and cooperation among them. The report is
organized as follows. In the next section, we briefly review
the economic rationale for public intervention in the
promotion of exports and investment and summarize the main
findings of the literature regarding the most effective
institutional designs and practices. We also discuss the
arguments for and against a merger of the two activities
within a single institution. Section three describes and
assesses the institutional framework for export and
investment promotion in Nepal. In Section four, we examine
four case studies of “best practices” in the promotion of
exports and export-oriented investment –Costa Rica, Jamaica,
Colombia, and Latvia. We also discuss examples of successful
promotion and development of the links between the tourism
sector and exports, Mauritius, which offers some lessons for
the case of Nepal. The final section contains the policy recommendations. |
| format |
Report |
| author |
Gomez Mera, Laura |
| author_facet |
Gomez Mera, Laura |
| author_sort |
Gomez Mera, Laura |
| title |
From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal |
| title_short |
From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal |
| title_full |
From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal |
| title_fullStr |
From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal |
| title_full_unstemmed |
From Evidence to Policy Supporting Nepal’s Trade Integration Strategy : Designing Institutions to Promote Trade and Investment in Nepal |
| title_sort |
from evidence to policy supporting nepal’s trade integration strategy : designing institutions to promote trade and investment in nepal |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/07/26564537/evidence-policy-supporting-nepal’s-trade-integration-strategy-designing-institutions-promote-trade-investment-nepal-policy-note-5 http://hdl.handle.net/10986/24933 |
| _version_ |
1764457936941219840 |