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Economic Reforms, Growth, and Governance

Author

Listed:
  • Wahiduddin Mahmud
  • Sadiq Ahmed
  • Sandeep Mahajan
Abstract
Bangladesh has in recent decades achieved reasonably rapid economic growth and significant progress in social development indicators despite many impediments: the desperate initial conditions after gaining independence, lack of resources, natural disasters, widespread corruption, and a record of systemic governance failure. By identifying the sources of growth stimulus and the drivers of social transformation, the paper addresses what it calls Bangladesh's development surprise. The policy-making process is analyzed as the outcome of incentives created by patronage politics as opposed to the compulsion for the government to play an effective developmental role. The paper examines the governance-growth nexus as affecting the pace and quality of growth and its inclusiveness. If the governance environment has been barely adequate to cope with an economy breaking out of stagnation and extreme poverty, it increasingly may prove a barrier to putting the economy firmly on a path of modernization and global integration. Bangladesh's experience also shows that it is possible to make rapid initial progress in many social development indicators by creating awareness through successful social mobilization campaigns and by reaping the gains from affordable low-cost solutions. Further progress, however, will require increased public social spending and improved quality of public service delivery.

Suggested Citation

  • Wahiduddin Mahmud & Sadiq Ahmed & Sandeep Mahajan, 2008. "Economic Reforms, Growth, and Governance," World Bank Publications - Books, The World Bank Group, number 28037.
  • Handle: RePEc:wbk:wbpubs:28037
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/28037/577220NWP0Box353766B01PUBLIC10gcwp022web.pdf?sequence=1
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    Citations

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    Cited by:

    1. Redwanur Rahman, 2020. "Shrinking The State: The Rise Of Private Sector Healthcare In Bangladesh," Journal of International Development, John Wiley & Sons, Ltd., vol. 32(5), pages 717-726, July.
    2. Shahzad Uddin & Javed Siddiqui & Muhammad Azizul Islam, 2018. "Corporate Social Responsibility Disclosures, Traditionalism and Politics: A Story from a Traditional Setting," Journal of Business Ethics, Springer, vol. 151(2), pages 409-428, August.
    3. Zaidi Sattar & Ashikur Rahman, 2016. "Political Economy of Trade Policy," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 17(1), pages 1-26, March.
    4. Asadullah, M. Niaz & Savoia, Antonio & Mahmud, Wahiduddin, 2014. "Paths to Development: Is there a Bangladesh Surprise?," World Development, Elsevier, vol. 62(C), pages 138-154.
    5. Banele Dlamini & Julius Tapera & Shynet Chivasa, 2017. "Can Sound Corporate Governance Alleviate Corporate Failure? A Study of the Zimbabwean Financial Services Sector," Journal of Economics and Behavioral Studies, AMH International, vol. 9(2), pages 88-95.
    6. Asadullah, Mohammad Niaz & Chaudhury, Nazmul, 2012. "Subjective well-being and relative poverty in rural Bangladesh," Journal of Economic Psychology, Elsevier, vol. 33(5), pages 940-950.
    7. Sovacool, Benjamin K., 2018. "Bamboo Beating Bandits: Conflict, Inequality, and Vulnerability in the Political Ecology of Climate Change Adaptation in Bangladesh," World Development, Elsevier, vol. 102(C), pages 183-194.

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