Sep 29, 2013

Contract Enforcement: The Practicalities of Dealing with Commercial Disputes in Nepal

Cost-effective and timely enforcement of contracts, especially the commercial contracts is a prerequisite for economic growth of a society. Without effective contract enforcement mechanisms, the tendency to breach a contract will be higher and discourage people and companies from undertaking impersonal and large-scale ventures. In World Bank's Doing Business Report 2013, Nepal ranks 137th out of 185 economies with regards to ease of enforcing contract enforcement. Why is the scenario like this? Why are Nepalese reluctant to enter into formal contracts and what alternatives to formal contract enforcement can be used in Nepal's scenario to make it more effective? 

I have coauthored the following paper on contract enforcement in Nepal with two other colleagues at Samriddhi, The Prosperity Foundation. This paper analyzes contract enforcement in Nepal focusing on the settlement of commercial disputes. It looks at the current contract enforcement scenario and discusses about the alternatives to formal contract enforcement mechanism i.e. through courts.


Sep 21, 2013

जुजुमानका साहसिक कार्यहरु - भाग २४ (प्रशंसा नाप्ने यन्त्र)

अर्थशार्त्री केन स्कुल्ल्यान्डद्वारा लिखित, नेपाली भाषा सहित गरेर विश्वका ४७ भाषामा अनुवाद भैसकेको "दि एड्भेन्चरस अफ जनाथन गलिबल : अ फ्री मार्केट ओडीसी" नामक पुस्तकको नेपाली अनुवादको पोड्कास्ट्को यस २४औं भागमा जुजुमान एउटा रङमन्च मा पुगेका छन । उक्त रङमन्च मा शोम्यान फिल ले केहि मनोरन्जनात्मक कार्यक्रमहरु प्रस्तुत गर्न गैरहेका छन । उक्त कार्यक्रम की पहिलो पाहुना डाक्टर जुलिया हुन । उनि सँग एउटा यस्तो यन्त्र छ रे जसले प्रशंसा नाप्न सक्छ रे । कुनै कुरा लाई लिएर मानिस कती प्रतिशत उत्साहित भए भन्ने कुरा उनले सजिलै भन्न सक्छिन रे ।

यो कस्तो खाले यन्त्र रहेछ ? र यसको प्रयोग चै के का लागी गरिने रहेछ ? जान्नको लागि तलको पोड्कास्ट सुन्नुहोला ।  सुनेर प्रतिकृया पनि  दिनुहोला ।

 पोड्कास्ट सुन्नका लागि तल क्लिक गर्नुहोस ।



पोड्कास्ट डाउनलोड गर्नका लागि तल क्लिक गर्नुहोला। 

The Adventures of Jonathan Gullible (Nepali)- Episode 24

यस पोड्कास्टका अरु अङ्क सुन्नको लागि तल क्लिक गर्नु होला ।

Sep 20, 2013

जुजुमानका साहसिक कार्यहरु - भाग २३ (जुत्ताको उत्पादन )

अर्थशार्त्री केन स्कुल्ल्यान्डद्वारा लिखित, नेपाली भाषा सहित गरेर विश्वका ४७ भाषामा अनुवाद भैसकेको "दि एड्भेन्चरस अफ जनाथन गलिबल : अ फ्री मार्केट ओडीसी" नामक पुस्तकको नेपाली अनुवादको पोड्कास्ट्को यस २३औं भागमा अन्तत जुजुमान शासक हरुको सभा भैरहेको ठाँउमा पुग्छन् । शासक हरुले एउटा ऐतिहासिक निर्णय गर्दैछन ।   क्रोम्पो टापूको इतिहासमै पहिलो पल्ट सार्की हरुलाई जुत्ता उत्पादन नगरे वापत सरकारले पैसा दिने निर्णय गरेको छ। र यो निर्णय भविश्यमा हुन गैरहेका यस्तै अन्य निर्णयहरुको शृन्खलामा पहिले खुड्किलो मात्र रहेको पनि शासक हरुले जनाएका छन् । 

शासक हरुले किन जुत्ता उत्पादकहरु लाई जुत्ता उत्पादन नगर्दा चै पैसा दिने निर्णय गरेका रहेछन ? यसले गर्दा कसलाई फाइदा होला? जान्नको लागि तलको पोड्कास्ट सुन्नुहोला ।  सुनेर प्रतिकृया पनि  दिनुहोला ।

 पोड्कास्ट सुन्नका लागि तल क्लिक गर्नुहोस ।



पोड्कास्ट डाउनलोड गर्नका लागि तल क्लिक गर्नुहोला। 

The Adventures of Jonathan Gullible (Nepali)- Episode 23

यस पोड्कास्टका अरु अङ्क सुन्नको लागि तल क्लिक गर्नु होला ।

Sep 19, 2013

Economic Freedom of the World 2013 and Nepal

Economic Freedom of the World 2013 was released yesterday. Here is how Nepal is doing with regards to economic freedom.

Sep 14, 2013

जुजुमानका साहसिक कार्यहरु - भाग २२ (संसारको सबैभन्दा पुरानो पेशा)

अर्थशार्त्री केन स्कुल्ल्यान्डद्वारा लिखित, नेपाली भाषा सहित गरेर विश्वका ४७ भाषामा अनुवाद भैसकेको "दि एड्भेन्चरस अफ जनाथन गलिबल : अ फ्री मार्केट ओडीसी" नामक पुस्तकको नेपाली अनुवादको पोड्कास्ट्को यस२२औं भागमा जुजुमान आफ्नो चोरी भएको पैसा फिर्ता गर्न कसैले मदत गर्छ कि भन्दै शासक हरुको दरबार भएको ठाँउ मा पुग्छन् । त्यस् दरबार मा छिर्न नपाउदै उनको हातमा सुनको चुरा लगाएकी एउटी अधबैंसे महिला सँग भेट् हुन्छ । ति महिला ले जुजुमान लाइ सन्सारकै सबैभन्दा पुरानो पेशा को बारेमा बताउछिन् ।

सन्सारकै सबैभन्दा पुरानो पेशा भनेको चै के रहेछ? र ति महिला ले त्यो पेशा कसरी र किन अँगालेकी रहिछन् ? जान्नको लागि तलको पोड्कास्ट सुन्नुहोला ।  सुनेर प्रतिकृया पनि  दिनुहोला ।   


 पोड्कास्ट सुन्नका लागि तल क्लिक गर्नुहोस ।


पोड्कास्ट डाउनलोड गर्नका लागि तल क्लिक गर्नुहोला। 

The Adventures of Jonathan Gullible (Nepali)- Episode 22

यस पोड्कास्टका अरु अङ्क सुन्नको लागि तल क्लिक गर्नु होला ।

Sep 10, 2013

Give youth a chance

-Surath Giri & Kanchan Kharel

The current state of Nepali politics has frustrated the majority, if not all Nepali youth. Youth response to current political developments has ranged from complacent indifference to active hatred. As a result, an important segment of the population does not find any stake in the ongoing political process. Will my vote really make a difference? Or am I better off not wasting my time by indulging in politics? These are pertinent questions beguiling the youth today. This is unfortunate because in addition to their vivacity and passion for progress, youth make up around 42 percent of the total population of Nepal, which makes them an indispensible component of the political process. Hence, it is imperative that their involvement in the process be actively sought.


Since the last Constituent Assembly (CA) election, political parties seem to have at least acknowledged this fact. However, political elites still see youth participation merely as a way to reinforce the legitimacy of their rule rather than a way to involve them as decision makers. Even during the last CA discourse, voices of young parliamentarians was as good as non-existent and key decisions largely revolved around older and more prominent leaders of the parties, although increased youth participation in the Parliament was touted as a harbinger of change. Besides, there is an emerging misconception among state actors that confirming the ‘participation’ of frustrated voters in the election alone would safeguard democracy and legitimise their rule. In the long run, such a fallacy is likely to end up in another revolution and more political upheaval in the country.

Sep 8, 2013

जुजुमानका साहसिक कार्यहरु - भाग २१ (सरकारहरुको बजार)

अर्थशार्त्री केन स्कुल्ल्यान्डद्वारा लिखित, नेपाली भाषा सहित गरेर विश्वका ४७ भाषामा अनुवाद भैसकेको "दि एड्भेन्चरस अफ जनाथन गलिबल : अ फ्री मार्केट ओडीसी" नामक पुस्तकको नेपाली अनुवादको पोड्कास्ट्को यस २१औं भागमा लुटेरा द्वारा हात खुट्टा बाँधेर छोडिएका जुजुमानलाई एउटा गोठालाले बचाउँछन र जुजुमानलाई सरकारहरुको बजारमा गयो भने लुटिएको सामान फिर्ता पाइन सक्ने सम्भावना रहेको कुरा बताउँछन । यसले जुजुमानलाई आफ्नो लुटिएको सामान फिर्ता पाइने कुरामा आशावान बनाउछ ।

सरकारहरुको बजार भनेको चै के रहेछ? यसको मतलब के त्यहाँ सरकार किन्न पाइन्छ?किन्न पाइने हो भने कस्तो कस्तो सरकार किन्न पाइने रहेछ त? जान्नको लागि तलको पोड्कास्ट सुन्नुहोला ।  सुनेर प्रतिकृया पनि  दिनुहोला ।

पोड्कास्ट सुन्नका लागि तल क्लिक गर्नुहोस ।

पोड्कास्ट डाउनलोड गर्नका लागि तल क्लिक गर्नुहोला। 

The Adventures of Jonathan Gullible (Nepali)- Episode 21

यस पोड्कास्टका अरु अङ्क सुन्नको लागि तल क्लिक गर्नु होला ।

Sep 7, 2013

जुजुमानका साहसिक कार्यहरु - भाग २० (मलाई तिम्रो विगत देउ या त भविष्य देउ )

अर्थशार्त्री केन स्कुल्ल्यान्डद्वारा लिखित, नेपाली भाषा सहित गरेर विश्वका ४७ भाषामा अनुवाद भैसकेको "दि एड्भेन्चरस अफ जनाथन गलिबल : अ फ्री मार्केट ओडीसी" नामक पुस्तकको नेपाली अनुवादको पोड्कास्ट्को यस २०औं भागमा जुजुमान उक्त वृद्द को घर बाट बिदावारी भएर आफ्नो बाटो हिडिरहेको बेलामा अचानक कसैले पेस्तोल देखाएर भन्छ , "तिमी मलाई या त तिम्रो विगत देउ या त भविष्य देउ!" ।  जुजुमानले त्यस लुटेरा को कुरै बुझ्न सकेनन । 

त्यो अचम्मको लुटेराले भन्न चै के खोजेको रहेछ ?  अनि जुजुमानले उसलाई आफ्नो विगत दिन्छन कि भविष्य दिन्छन त ?  जान्नको लागि तलको पोड्कास्ट सुन्नुहोला ।  सुनेर प्रतिकृया पनि  दिनुहोला ।

पोड्कास्ट सुन्नका लागि तल क्लिक गर्नुहोस ।


पोड्कास्ट डाउनलोड गर्नका लागि तल क्लिक गर्नुहोला। 

The Adventures of Jonathan Gullible (Nepali)- Episode 20

यस पोड्कास्टका अरु अङ्क सुन्नको लागि तल क्लिक गर्नु होला ।

Sep 5, 2013

Sam Walton's Made in America: 10 Valuable Lessons

I neither knew much about Sam Walton nor had much interest before reading this book. After reading this book, however, I have developed an interest  and admiration for Walton's life and enterprise. 

At the end of World War II in 1945, 26-years-old Sam Walton borrowed a loan of $20,000 to buy a Ben Franklin Variety Store, which he operated successfully, too successfully perhaps. Seeing his tremendous success, the house-owner refused to renew his lease and appropriated the place for his son after the original lease period expired. Hence, Walton was forced to give up his business after he made it successful.

However, for an entrepreneur, such challenges are minor and in many cases, encourage him/her to do even better. He opened another variety store in a new place and soon grew his business into a chain of stores. While running the chain of variety stores, he established the first Wal-Mart in 1962 as a discount store. And as we all know, the rest is history. Wal-Mart is the largest retailer in the world and a multi-billion dollar company today.

The power of a free market system and competition in the society to bring economic growth and innovation is reflected abundantly in Wal-Mart's journey from a small discount store in 1960s to world's largest retailer today. As Walton reflects in the book, value creation for customers and constant innovation (be it through self innovation or by copying someone else) have been the hallmark of Wal-Mart Stores.To be sure, not every action of Wal-Mart is pro-market and it has abused power at times to outpace its competitors but its rise has been mainly because of innovation and value creation. Walton's passion for his work is truly admirable and contagious. Walton's impressive story aside, the book itself is less than impressive though. I found it poorly written. Readers are forced to contemplate once in a while what a great story it would have been if the book had been written by a better writer. Still, it is a highly recommended read from my side.

Towards the end of the book, Sam Walton has shared some lessons he learned during his journey of creating Wal-Mart empire which are valuable for aspiring entrepreneurs. They are as below:

1. COMMIT to your business. Believe in it more than anybody else. Eat, breathe, sleep your business.

2. SHARE your profits with all your associates (employees and stakeholders), and treat them as partners. If they are your employees, they will make your business profitable. If they are your partners, they will strive to make your business great.

3. MOTIVATE your partners. Money and ownership alone aren't enough. Respect and appreciation are equally important.

4. COMMUNICATE everything you possibly can to your partners. The more they know, the more they'll understand. Practice utmost transparency with your partners.

5. APPRECIATE everything your associates do for the business. A paycheck and a stock option will buy one kind of loyalty. But all of us like to be told how much somebody appreciates what we do for them.

6. CELEBRATE your successes. Find some humor in your failures. Don't take yourself so seriously. Have fun. 

7. LISTEN to everyone in your company. And figure out ways to get them talking.

8. EXCEED your customers' expectations. If you do, they'll come back over and over.

9. CONTROL your expenses better than your competition. This is where you can always find the competitive advantage.

10. SWIM upstream. Go the other way. Ignore the conventional wisdom. Use the Blue Ocean Strategy.

What do you think of these lessons? Share if you have any.