Search

Begin New Search Topic GDP Journal Journal of Bhutan Studies

1. Corporate Social Responsibility Practice in Bhutan

Author:
Jigme Phuntsho and Sonam Zangmo
Publication Date:
04-2019
Content Type:
Journal Article
Journal:
Journal of Bhutan Studies
Institution:
Centre for Bhutan & GNH Studies (CBS)
Abstract:
Bhutan is one of the fastest growing economies in the world. Its GDP grew from a $167 million (M) in 1985 to approximately $2.51 billion (B) in 2017. Annual GDP growth rate has been between 6-8 percent in the past decade, and with a per capita GDP of $3,096, the country is expected to graduate from the Least Developed Countries (LDC) by 2021. The traditionally agrarian economy is gradually transforming with the declining share of agriculture in respect to the increasing contributions to GDP from secondary and tertiary sectors (Table 1). High economic growth has been driven largely by investment associated with hydropower development and the share of manufacturing and service industry fall below that of comparable middle-income countries (World Bank, 2017).
Topic:
GDP, Economy, Business, Corporate Accountability, and Social Responsibility
Political Geography:
South Asia and Bhutan

2. Economic Growth, External Debt and Export Relationship: The Case of Bhutan

Author:
Jigme Nidup
Publication Date:
04-2019
Content Type:
Journal Article
Journal:
Journal of Bhutan Studies
Institution:
Centre for Bhutan & GNH Studies (CBS)
Abstract:
Bhutan depends mostly on external debt for economic development. Most of its external debt is related to hydropower construction, which in total overshot its GDP by more than 100 percent. This has worried some sections of the society. However, Johansen’s cointegration test suggests that there is no long-term relationship between economic growth, external debt, external debt service and export in Bhutan. Further, findings from the unrestricted VAR indicate that even in the short-term, external debt and external debt service have insignificant relationship with economic growth, while it is the export that substantially helps the economy to grow. The Impulse Response Analysis (IRS) suggests that over a mediumterm period, a shock from external debt, external debt service can positively influence economic growth at least up to four and half years after initial negative effect. Whereas, export is found to positively impact growth all the way up to fourth year. Therefore, Bhutanese government should focus more into producing export-oriented goods and services in order to spur economic growth.
Topic:
Debt, GDP, Economic Growth, and Economic Development
Political Geography:
South Asia and Bhutan