ISBN : 9780199474011
The Kingdom of Bhutan over the past five decades has gone through a remarkable socioeconomic transformation. It has progressed from a traditional stage of economic development, with limited production rooted in the primary sector, to achieving the pre-conditions for an economic takeoff. However, Bhutan is still confronted with a number of development challenges, including a narrow economic base, limited private sector development, underdeveloped credit markets, and a buildup in economic inequality with significant youth unemployment. This book chronicles Bhutans development story, discussing a range of policies that can unlock the countrys economic potential and overcome its limitations. It consolidates a body of knowledge accumulated by the Asian Development Bank while working with the Government of Bhutan on monitoring and strengthening its macroeconomic management framework, and through support to development activities throughout the country.
Foreword
Acknowledgements
List of Tables and Figures
List of Abbreviations
Introduction - Sabyasachi Mitra and Hoe Yun Jeong
1 Bhutans Macroeconomic Challenges - Joshua Green
2 Vulnerability and Resilience: A Conceptual Framework for Bhutan -Patrick Guillaumont
3 The Experience of Gross National Happiness as a Development Framework - Karma Ura
4 Unlocking Bhutans Potential: Potential Output for the Nation - Sabyasachi Mitra, Sarah Carrington, and Anthony Baluga
5 Bhutans Rupee Crisis: Macroeconomic Causes and Cures - Karma Ura
6 Monetary Policy Framework for the Royal Government of Bhutan - Hwee Kwan Chow
7 Bhutans Consumer Price Inflation and Price Transmission from India - Sabyasachi Mitra, Anthony Baluga, and Elbe Aguba
8 A Framework of Trade Policy for Bhutan Compatible with the Gross National Happiness - Inkyo Cheong, Taeho Bark, and Hoe Yun Jeong
9 Electricity Consumption, Output, and Trade in Bhutan - Hooi Lean and Russell Smyth
10 Banking in Bhutan: An Assessment of Financial Sector Development - Rebel Cole
Index
About the Editors and Contributors
