- Title
- Macroeconomic developments, policies, and issues in Bangladesh, 1972-2007
- Creator
- Hossain, Akhtar
- Relation
- 2008 and 2009 Conferences on Bangladesh. Bangladesh economy in the 21st century : selected papers from the 2008 and 2009 Conferences on Bangladesh at Harvard University (Cambridge, MA 9-10 October, 2009)
- Relation
- http://www.uplbooks.com/book/bangladesh-economy-21st-century-selected-papers-2008-and-2009-conferences-bangladesh-harvard-un
- Publisher
- University Press Limited
- Resource Type
- conference paper
- Date
- 2011
- Description
- A steady economic growth of about 5 percent per annum since the early 1990s has brought significant structural change in the Bangladesh economy in favor of the non-agricultural sector. This economic transformation has taken place as part of a paradigmatic shift in development strategy from a 'socialist model of development' in the early 1970s to the International Monetary Fund (IMF)-World Bank supported 'market-oriented, private-sector-led model of development' since the early 1980s. Although the much anticipated 'economic take-off' did not take place (despite macroeconomic stability) because of sustained political instability or, more broadly, mis-governance of the state, the economy has moved to a relatively higher growth path of about 6.5 percent per annum since 2004. Lately, income inequality has however increased significantly, especially in the urban areas. This has contributed to both social and political tension in the midst of polarized polity and society. This chapter reviews macroeconomic developments, policies and issues in Bangladesh under different political regimes since the early 1970s and draws conclusion that if the country can achieve reasonable social and political stability and maintain macroeconomic stability, a sustained economic growth in the range of 6-7 percent per annum (which is compatible with the country's growth determinants and conditions) would move it to the middle-income category by 2020, if not earlier. The danger is that the explosive 'sociology-cultural-political conditions' that currently exist in the country may, if not handled carefully, go out of control and this may close the windows of opportunity presently available for transforming the country into a middle-income one.
- Subject
- Bangladesh; macroeconomics; governance
- Identifier
- http://hdl.handle.net/1959.13/1058160
- Identifier
- uon:16345
- Identifier
- ISBN:9789845060356
- Language
- eng
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