Numbers and Narratives in Bangladesh's Economic Development

Preface and Acknowledgements
Introduction
	Introducing the Framework
	Scope of the book
Contents
Abbreviations
List of Figures
List of Tables
1 Economic Growth in Bangladesh
	Introduction
	Stability Conditions
		Labour Utilisation and Migration
		Consumption-Led Growth from Shifts in the Labour Force
		Incongruent Improvements in the Social Sector
		Jobless Growth
		Higher Concentration in Informal Employment
		Stagnant Investment and Savings
		Declining Capacity of Public Spending
			Weak Revenue Collection
			Regressive Tax Structure
			Institutional Weakness in Public Spending
		Discrepancies in Accounting Methodology
		Covid-19 and Risks
	Transformability Conditions
		Political Settlement
		Competitive Clientelism
		Investment in Human Capital
		Productive Expansion
	Sustainability Conditions
		Institutions for Conservation of Natural Resources
		Growth and the Environment
	Concluding Remarks
	References
2 Agriculture in Bangladesh
	Introduction
	Stability Conditions
		Fragility in Food Security
		Slow Rate of Structural Transformation
		Increasing Land Fragmentation
		Overuse of Fertilisers
		Differential Access to Credit
		Declining Agricultural Productivity with Concentrated Output Basket
		Low Utilisation of Technology
		Loss from Covid-19
	Transformability Conditions
		Diversification of Output
		Integrated Irrigation
		Optimum Use of Fertilisers
		Formalising Credit
		Mechanisation in Harvesting
		Integrated Agricultural Marketing System
	Sustainability Conditions
		Sustainable Irrigation Methods
		Shifting Towards Bio-Fertilisers
		Diversification Towards Cash Crops
	Concluding Remarks
	References
3 Manufacturing Industry of Bangladesh
	Introduction
	Stability Conditions
		Production Capacity
			A Decelerating Trend
			A Below Mark Productivity
			A Narrow Product Basket
			Regulatory Uncertainty and Lack of Transparency
			Transitional Challenges from LDC to a DC
		Market Diversification
			Concentration in Export Market
		Employment Generation
			A Dominant Informal Sector
		Technological Catch-Up
		COVID-19: A Havoc in the Manufacturing Industry
	Transformability Conditions
		Increasing Competitiveness
		Augmentation of Technological Deepening
		Dual Circulation and Market Diversification
		Clean Production
	Sustainability Conditions
		Circular Production
		Equalising Returns
		Whole of Society
	Concluding Remarks
	References
4 Financial Sector of Bangladesh
	Introduction
	Banking Sector: A Framework
	Stability Conditions
		Deterioration in Quality and Soundness
			Capital Adequacy Ratio
			Non-Performing Loans (NPLs)
			Non-Performing Assets (NPAs)
			Rescheduled Loans
		Shortfalls in Access and Functioning
			Domestic Credit
			Credit to Private Sector
			Branches of Banks
			Net Foreign Assets
	Transformability Conditions
		Performance and Profitability
			Return on Assets (RoA)
			Return on Equity (RoE)
			Net Interest Margin (NIM)
			Regulatory Reforms for Reversing the Trends
	Sustainability Conditions
		Diversification of Investment Portfolio
		Strengthened Policies for Risk Management
	Capital Market: A Framework
	Stability Conditions
		Size of the Market
			Market Capitalisation Ratio
			Turnover Ratio
			Trade by Foreign Investors
		Access to the Market
			Concentration in the Market
	Transformability Conditions
		Efficiency of the Market
		Risk Control Mechanisms
			Volatility of the Market
		Price-Earnings (P/E) Ratio
	Sustainability Conditions
		Linking the Banking Sector and Stock Market
		Growing Importance of Financial Sector in Pandemic Era
	Concluding Remarks
	References
5 Education in Bangladesh
	Introduction
	Stability Conditions
		Increasing Access to Education
		Low Skill Formation and Innovation
		Waning Citizenship Education
		Disruptions Caused by the COVID-19 Pandemic
	Transformability Conditions
		Augmenting Secondary Education
		Vocational and Technical Education for Skilled Workforce
		Emphasis on Tertiary Education
		Quality Provisioning
		Access to Educational Infrastructure
	Sustainability Conditions
	Concluding Remarks
	References
6 Health in Bangladesh
	Introduction
	Stability Conditions
		Low Public Expenditure
		Inequality in Health Outcomes and Access
		High Out of Pocket Expenditure (OOP)
	Transformability Conditions
		Budget Allocation for Universal Healthcare
		Ensuring Universal Healthcare System
	Sustainability Conditions
		Moving Towards Quality Health Service
		Capacity to Absorb Shocks: Healthcare During the COVID-19 Pandemic
	Concluding Remarks
	References
7 Poverty and Inequality in Bangladesh
	Introduction
	Stability Conditions
		Slow Reduction
		Persistent Regional Differences
			New Poor Due to COVID-19
		Inadequate Investment in Education and Health
		Declining Real Wage and Rising Inequality
		Absence of Universal Social Security
		Rising Trend in Income Inequality
		Growing Concentration and Centralisation of Income
		Consumption and Nutritional Inequality
		Inequality in Food and Nutrition Intakes
		Gender Inequality in Literacy and Education
		Gender Disparity in Participation and Earnings
		Fiscal Policy—Dependence on Regressive Taxes
			Low Tax-GDP Ratio
		New Poor Driven by Covid-19
		Inequality Propelled by Covid-19
	Transformability Conditions
		Policies of Active Restraint
		Institutional Provisioning for Skilled Labour
		Public Financing for Coping
			Strengthening Coping Mechanisms for Climate Displaced Communities
		Social Security in the Post-pandemic Era
	Sustainability Conditions
		Policies for Resilience
		Accountable and Equalising State
		Strengthening Social Contract
		A Human-Nature Compatibility
	Concluding Remarks
	References
8 Conclusions: Institutions, Political Settlement and Economic Outcome
	Power, Institutions and Economy
	Institutions and the Economy
		Growth and Real Sectors
		Financial Sector
		Education and Health
		Poverty and Inequality
	References
Index