Impact of Global Financial Crises on Human Resource Development in the SAARC Region: Lessons Learnt

Impact of Global Financial Crises on Human Resource Development in the SAARC Region: Lessons Learnt

Partner: SHRDC

Duration: August 2013 to December 2013

Team Members: Dr. Vaqar Ahmad, Samavia Batool, Muhammad Hamza Abbas, Safwan A.Khan

Introduction:

The global financial crisis primarily originated in developed economies, however, developing economies, including those in South Asia, could not buffer themselves against  the adverse impact of the crisis. As expenditures rose to counter these effects, both human as well as social sector development suffered across South Asia. Hence, there was a rise in levels of poverty and income inequality, coupled with stagflationary pressures in most of the South Asian economies. This study is an attempt to investigate the effects of global financial crisis on HRD in South Asia with the aim to identify policy options not only to counter these effects but also to address lacunas in HRD across the region. Moreover, the study will identify channels through which regional networks can be strengthened for further regionalism and enhance development across South Asian economies.

Objectives:

To examine the origin, magnitude, and trends of global financial crisis 2007-2008
To establish the link and analyze the impact of crisis with regional economies and HRD
To analyze the relevant policies and programs of financial and HRD sectors from 2008 onward and gaps and remedial policy measures to mitigate the adverse impact of crisis
To explicate a macroeconomic framework for HRD policy makers to ensure sustainable social and economic development
To suggest a plan of action for policy makers to tackle with such unexpected crisis in future, and suggest ways to promote regionalism to avoid negative shocks of globalization

Activities:

Primary data collection
Drafting a report on the basis of research findings
Dissemination of research findings and policy recommendations