Business and Economics

Rethinking Models of Economic Development for Nepal
Udaya Raj Adhikari

This paper introduces the various economic development models like the Gujrat Model, Bihar Model, Nordic Model and China Model to meet the objectives outlined in the introduction section of this paper. These models cannot be quantified since they merely propose some philosophical paradigms on how development should or would take place. The New Economic Development Model (NEDM) also called the "Development zone" model helps to identify Nepal's placement to reduce poverty rapidly and create enough employment opportunities in the country to achieve faster economic growth. The paper also predicts the three 'i' framework as a rethinking approach of economic development for Nepal i.e. identification of zone, infrastructure in development and investment policy so that the overall economic development objective can be achieved.

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