Economic development of bangladesh

Poverty incidence has fallen from 60 percent to around 30 percent. Gender parity has been achieved in primary and secondary school enrollment. Alongside the progress in education, health, and gender equity, Bangladesh is also in the midst of a growth takeoff that has reduced poverty and doubled per capita income since

Economic development of bangladesh

For the scope of this paper, development refers to economic growth that leads to increased standard of living.

The latter term itself is problematic, depending on whether it is measured simply in economic terms, like Gross National Product GNPor if it includes social and health measures, like education and life expectancy, which one finds in the Human Development Index HDI. One assumes that social workers will not be satisfied with an end-point at econometrics, since human welfare depends on much more than the accumulation of wealth.

Thus the hazards of international studies and its interdisciplinary nature—we obtain both the strengths, as well as the weaknesses of narrowly focused fields.

Intuitively there is a strong relationship between wealth and quality of life. Especially in capitalist states, where most citizens consider wealth to be linearly correlated quality of life--or at least the capacity to consume is equated with happiness Baudrillard, Empirically, data supports these presumptions, as measured by several indices: Given these relationships, it is not unreasonable for the social worker to factor economic development into strategies for intervention at all levels macro, mezzo, and microif not even as a core factor.

Cox and Pawar highlight the importance of economic issues for social workers in dedicating a significant portion of their text Economic development of bangladesh poverty and development. Intervention at these levels, as described by Cox and Pawar, can be imposed by agents external to the state, such as structural adjustment programs of the IMF or World Bank, they can be controlled by the state, such as specific Economic development of bangladesh policies and structures, and finally, macro-level development can be externally assisted, in the form of foreign aid and investment.

Local level development would refer to investment into small community projects, whether a small business, a health clinic, or a school, for example. While the latter was initially described as a model of reducing poverty, the results are frequently in the opposite direction.

Regardless of causation of poverty, Ferguson believes that social worker intervention can come at three levels, all related to increasing various forms of capital—human, financial and social. While the social worker understands that none of these three can become the sole site of intervention in hopes that it will automatically produce the others, economic theories of development focus on creating growth of financial capital with the belief that it will catalyze, and lay the foundation for the other two although recent economic models, as will be discussed, recognize coordination of all three will probably produce the strongest benefits.

At this time the UNDP encouraged technical support to low-income countries to further facilitate growth after it was realized that economic contribution alone was not sufficient for human-capital impoverished communities to grow. International organizations began seeing the north-south economic divide, as well as becoming concerned about long-term impacts of capitalism on the environment.

The Bretton Woods institutions expanded their efforts to bottom-up loans, rather than simply state-focused loans. The third state was a revival of classic Smith, as envisioned through Hayek. The Reagan-Thatcher decade of the s was characterized by the beginning of the neoliberal hegemony, where the pendulum swung back to privatization, deregulation and liberalization of trade opening global markets.

At this point the UN Secretary General, Boutros-Gali, asserted that development was a fundamental human right and united the triadic concepts of development, peace, and human security. The Millennium Development Goals evolved into an internationally approved UN roadmap for achieving these three goals.

A more specific review is in order of these eras of development theory. Analyses of European growth after WWII indicated a fairly rapid and linear trajectory of economic growth that was built on a simplistic model of saving and investment.

Local Economic and Employment Development (LEED Programme) - OECD

The final stage, 5 is characterized by mass consumption, which drives continued production, technological development, and job growth. While intuitively attractive to the capitalist worldview and empirically supported at the time, it assumed a linear growth based on the two isolated variables of savings and investment.

The Marxist perspective became dominant in the ss as Euro-American sociology began to recognize the contribution of this once-taboo thinker. According to Wallerstein, different regions dominated the global economic system at different times in the previous and current centuries, making the rest of the world dependent on them for inclusion into profitable global markets.

A farm economic analysis in different dairy production systems in Bangladesh

With the capacity to control the market rules, the hegemons were able to control the system, typically with economic sanctions, but failing that, with military force.

Multiple levels of dependency were required: Not coincidentally, peripheral states today were typically colonies, now abandoned and in disarray following the politicking of decolonization.

While dependency theory was an important realization—that countries were not necessarily to blame for their own poverty, that a history of exploitation and colonization had put them at extreme disadvantage, the resolutions proposed by Marxists at the time were either anemic, or faulty for example, economic autarky and import substitution programs.

Subsequent models took a much more proactive approach with the goals of alleviating poverty through trade liberalization and freeing the invisible hand of the market.

This was the era of neoliberal deregulation and privatization, where the IMF and World Bank returned to state-centered approaches, as well as big-business loans.

Economic development of bangladesh

The primary strategy was to encourage governments to restructure their economies to financial models based on those of economically successful European and North American states, especially geared to the Hayek vision of smaller government and trade liberalization. The primary assumption was that the economic purpose of government was to create a market-friendly climate and otherwise to make itself scarce.

Along with this came assumptions about growth, more complex than the Harrod-Domar model although still including the foundation of savings and investment.

In the case of the former, Solow realized that growth required increases in the sheer numbers of the labor force, such as through population growth, as well as increases in labor quality, in the form of education.

Based on the confidence in the new models, as well as the combined policy powerhouses of Reagan U. Unfortunately these programs largely failed and saddled these states with large, unpayable debts.

Contemporary models continue to problematize the simplicity of earlier models, typically by adding organizational or cultural factors.By many metrics, Bangladesh's development trajectory is a unique success story, especially since the s when democratic rule was reinstated and extensive economic reforms were made.

Poverty incidence has fallen from 60 percent to around 30 percent. Bangladeshi women face barriers and disadvantages in nearly every aspect of their lives, including access to health services, economic opportunity, political participation, and control of finances.

The real need in Bangladesh is not population control programs or “reproductive health” supplies, but economic development. IIRD industries are self-sustainable and offer “living wages” primarily to women who are able to work to provide first-time or additional income for their families and children.

Fiber-Optic Telecommunication and the Economic Benefits of A: Proceedings. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.

As an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world, the Aga Khan Fund for Economic Development (AKFED) often works in parts of the world that lack sufficient foreign direct investment.

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