TITLE:
Policy Initiative for Balance Regional Development and Growth
AUTHORS:
Rajeev Rana
KEYWORDS:
Economic Development, Regional Imbalance, Vicious Cycle, Policy Initiative
JOURNAL NAME:
Theoretical Economics Letters,
Vol.8 No.14,
October
24,
2018
ABSTRACT: The economics growth and development mostly coined
together, and it was thought that growth itself led to development of the
country but it was found that there are more dissimilarities than
complementary. A higher
growth will spontaneously lead development only when there is equitable
distribution of resources and balancing regional development. But it did not
happen in practices as high growth widen inequality and unequal distribution
between the different groups of people in the societies as well between
inter-state and intra-state to create regional imbalance, further as there is a
transition period of the economy and urbanization took place it was experienced
that regional imbalance widen in the term of class difference, gender
discrimination (lower participation of women, as well alarming sex ratio),
resources distribution, and per capital income. Further, the regional economic
disparities create more inequality between savings, investment, and had
interconnected map over the vicious cycle of corruption, demographic
challenges, influencing
chronic & infectious diseases, illicit trade, migration, food insecurity,
and governance failures. The paper is addressing those various issues and
thrust area of policy initiatives to present the causes of regional imbalance
and growth as well the policy initiative for inclusive development.