Abstract
Although the states in Northeast India were created on ethnic lines, today the developmental imperatives require that they have to emerge as a single economic entity. The region is yet to emerge as an integrated economic entity and the success and effective continuity of the AEP depends on reducing the transaction costs by emerging as an integrated economic unit. This is contingent on, inter alia, linking up with the expansion in the livelihood and employment opportunities which depend on the emergence of a strong regional and local economic base led by networked industry and a high end services sector. This finally is dependent on reducing the present level of high transaction costs which includes issues of property rights, transport costs, law and order, governance, rent seeking and corruption.
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Notes
- 1.
Bandhs refers to a kind of shut down notice of business establishments and all other establishments by any group of people protesting against any decision or policy of the government or in protest against any event. It’s a kind of forcible no work demonstration to be observed by establishments in response to a call for such a demonstration by a group of people opposing a government decision/action or in protest against any event.
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Panda, B. (2018). Act East Policy and Northeast India: The Role of Transaction Costs. In: Sarma, A., Choudhury, S. (eds) Mainstreaming the Northeast in India’s Look and Act East Policy. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-10-5320-7_7
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DOI: https://doi.org/10.1007/978-981-10-5320-7_7
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