I have a slightly different take on the "convergence" of Bangladesh economy.
There was no doubt that country was doing exceptionally well a an LDC perspective. Its growth rates were impressive in the past years. However, that high economic growth was not exactly conditional on quality education, rule of law and broader protection of funda…
I have a slightly different take on the "convergence" of Bangladesh economy.
There was no doubt that country was doing exceptionally well a an LDC perspective. Its growth rates were impressive in the past years. However, that high economic growth was not exactly conditional on quality education, rule of law and broader protection of fundamental rights. Rather it was the absence of all these "conditions" that has paved the way for that country's dramatic regime change in early this month.
The only thing that was constant in that country over the past one and a half decades was political "stability" of the government. The Prime Minister and "elected" ruling party government ruled that country with an iron fist without any social or political unrests which were suppressed. Without all the required converging conditions, Bangladesh managed to grow exceptionally well. There were also good signs in social development indictors including child mortality.
So, the recent economic performances of Bangladesh could be a case study to assess whether it is presence of all those converging conditions, or political stability (without those conditions) that have paved the way that country has managed to grow over the past decade of a half with an aim of graduating to a "developing country" in 2026.
Now that a new Administration has come after the fall of long reign of the former Prime Minister, it would be interesting to see how that country would perform in the years to come in the near future.
I have a slightly different take on the "convergence" of Bangladesh economy.
There was no doubt that country was doing exceptionally well a an LDC perspective. Its growth rates were impressive in the past years. However, that high economic growth was not exactly conditional on quality education, rule of law and broader protection of fundamental rights. Rather it was the absence of all these "conditions" that has paved the way for that country's dramatic regime change in early this month.
The only thing that was constant in that country over the past one and a half decades was political "stability" of the government. The Prime Minister and "elected" ruling party government ruled that country with an iron fist without any social or political unrests which were suppressed. Without all the required converging conditions, Bangladesh managed to grow exceptionally well. There were also good signs in social development indictors including child mortality.
So, the recent economic performances of Bangladesh could be a case study to assess whether it is presence of all those converging conditions, or political stability (without those conditions) that have paved the way that country has managed to grow over the past decade of a half with an aim of graduating to a "developing country" in 2026.
Now that a new Administration has come after the fall of long reign of the former Prime Minister, it would be interesting to see how that country would perform in the years to come in the near future.