Impact of globalization in Nepalese economy

Abstract

The waves of globalization properly appeared on Nepal’s shores after arrival of democracy in the 1990s, later than a lot of other South Asian countries. Thus, there are claims both for and against of globalization. The globalists are found firm on their view that globalization denotes the increasing impact of inter regional cooperation upon building greater social interaction. In contrast, skeptics have their view that the key supposed agents of cultural globalization-Coca Cola, McDonald's, Microsoft and so on are in the business of making profits, seeking to enlarge their area of influence. Considering the views of scholars from different schools of thought would make it more arduous to come up with a single sharp conclusion regarding its impacts upon developing countries. Nonetheless, analyzing how globalization is being perceived in a specific country would, to some extent, give a clear picture. In case of Nepal, some literatures can be found that discuss the issues related to globalization, but none of them explore much on how it is actually being perceived. Thus, this paper attempts to study the impacts of globalization in Nepalese economy.