Nepal, March 6 -- Neither an election nor a new government provides a quick fix for the economic stagnation experienced by the Nepali economy. An election manifesto serves as a political contract between a party and the citizens, but it cannot undo the 'economic ruin' stemming from misguided policies driven by self-serving politicians and their cronies in the past. Yet, periodic elections are seen as affirming a country's commitment to democracy, and a fresh election is designed to replace bad actors with good ones at the helm of government. Good governance is a prerequisite for establishing well-functioning economic and political institutions that will revive societal trust and produce market incentives to reverse economic stagnation.

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