GROWTH AND STRUCTURAL CHANGE IN SAARC ECONOMIES

This paper aims to analyze the growth and structural changes in the SAARC countries in the last two decades. Afghanistan has not been included in the study as it became the member of SAARC only in 2007. In view of the fact that India is emerging as one of the rapidly growing economies, it is important to study the changes, if any, in the economic structure of its neighbouring countries. The structural transformation in these countries can be defined in terms of certain common indicators: a declining share of agriculture in GDP and value added in the economy, rural-tourban migration that stimulates the process of urbanization; the rise of a modern industrial and service economy; and a demographic transition from high rates of births and deaths to low rates of births and deaths. Certain other economic indicators including saving and capital formation as well as their debt-GDP ratios will be reviewed over a period of last two decades

Keywords:

SAARC, Structural Transformation Growth,

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