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Over the past 33 years, rising from the ruins of a war-devastated economy in 1972, Bangladesh has increased its per capita income four-fold, cut poverty by more than half, and is well set to achieve most of the millennium development goals. What factors have helped Bangladesh achieve this remarkable progress with development, thereby confounding the prophets of doom who had dismissed the country as a basket case at the early stage of its independence? What will it take for Bangladesh to consolidate the past gains and strive to reach middle-income status in the next 20 years? This book reveals this story, drawing on the work of a large number of researchers mostly from the World Bank. The book argues that the past gains were secured on the basis of good policies reflected in a stable macroeconomic environment, a gradual but steady improvement in private sector incentives reflected in greater trade and investment openness, and supportive human development policies including a generally inclusive social policy environment. Despite episodes of political instability, there has been a remarkable continuity of policies with no major reversals. However, slow progress has been noticed in reforming institutions and in improving governance
For the next phase of development, in addition to continued focus on macroeconomic stability and further improvement in incentives for private investment, policy attention must shift to securing greater progress with institutional reforms and improving governance. The book looks at specific examples of areas where weak institutions and poor governance has constrained progress and suggests ways to address these constraints.
The book is must read for all serious students of development, especially those interested in South Asia and Africa.isbn-9781403927842
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