• Friday, July 25, 2014

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Economic Growth

Growth and governance: Making the transition

ONE striking feature of the results of the last Secondary School Certificate examinations may have escaped our attention. Nearly 10% of more than a million successful candidates secured the highest grades, leaving no way of identifying the top 1% or even the top 5%. Evidently, a deliberate policy of grade inflation in public examinations is undermining the merit system. This phenomenon is perhaps symptomatic of a decline in meritocracy, with a concomitant rise of mediocrity, in all aspects of...

CROSS TALK

The bread crumbs theory of economic growth

THE leading lights of the country recently got together at a two-day colloquium starting last Saturday, and they discussed the wefts and warps of Bangladesh economy. Although some news reports claimed the participants had lauded the progress made so far, reading between the lines gave a different story. Each of the participants actually uttered cautionary words carefully couched in academic parlance. The only exception was our finance minister, whose null hypothesis gave away the dull state of his mind....

Infrastructure, political stability key to high growth: analysts

Adequate infrastructure, energy, skilled manpower, political stability and investment-friendly climate are the key factors for higher economic growth, economists said at a discussion yesterday. Bangladesh has achieved considerable success in gross domestic product but fell short of the growth numbers achieved by the other developing countries, they said. They were speaking at the discussion on “growth strategies and macroeconomic stability”, which was organised as part of a two-day long economic conference hosted by Bangladesh Economists' Forum (BEF), a non-political voluntary body...

BITTER TRUTH

Economic growth and environmental protection go together

AT the launch of the World Environment Day in 2014, UN Secretary General Ban Ki-moon announced: “Planet Earth is our shared island, let us join forces to protect it.” Every year World Environment Day serves as the people's day for doing something positive for the environment, galvanising individual action into a collective power that generates an exponential positive impact on the planet. Air pollution has now become a major killer with three million people dying of it every year, and...

China takes new steps to boost growth

China takes new steps to boost growth

China has announced new measures aimed at bolstering its economic growth. These include plans to build railways, roads and airports along the Yangtze River - which connects China's less developed inland provinces to Shanghai. Meanwhile, China's central bank said it will encourage banks to lend more to exporters to boost shipments. The moves, the latest in...

Dire Afghan economy on edge as investors flee

Jackhammers are down and excavators gather dust at a Kabul construction site, spotlighting an aid-reliant economy on the edge of a precipice as Afghanistan's war winds down and a tenuous political transition looms. The country's banks are at grave risk of being put on an international blacklist this month if parliament fails to pass a long-demanded money laundering bill -- with potentially devastating consequences for the already-fragile economy. Economic growth fell through a cliff this year, touching a low of three...

GDP growth 6.12pc

GDP growth 6.12pc

The gross domestic product (GDP) growth in the current fiscal year is 6.12 percent, the planning minister said today. The rate of per capita income during the same period stood US$1,180, minister AHM Mustafa Kamal told reporters emerging from a meeting of the Executive Committee of the National Economic Council (Ecnec). According to a draft...

GDP growth may cross 6pc

GDP growth may cross 6pc

Economic growth is likely to cross the 6 percent-mark this fiscal year despite the incapacitating political turmoil in the first half, according to a draft estimate by the Bangladesh Bureau of Statistics. If the new base year of 2005-06 is considered, the GDP growth for fiscal 2013-14 is likely to be around 6.2 percent, down from its earlier estimation of 6.5 percent, according to a planning ministry official. Using the same base year, the World Bank computed the GDP growth to be 5.4 percent and Bangladesh Bank 5.7 percent to 6.1 percent. BBS officials said the GDP growth rate will be published using the new base year this year to reflect the...

RMG exports: Is decoupling on the cards?

RMG exports: Is decoupling on the cards?

IN order to attain high growth rates, double digit manufacturing sector expansion is a must in Bangladesh. The manufacturing sector consists largely of exports where Readymade Garments (RMG) industry has been the driving force since 1980s. The performance of the RMG industry is a consequential part in attaining economic growth each year. In fiscal 2009, 88% of our RMG exports made its way into the European Union and USA; add Canada's share of 5% and we can see that 93% of Bangladesh's RMG exports went into what is known as the 'traditional markets.' The substantial amount of exports to the traditional markets over the years clearly indicates the sheer size of...

Reaping demographic dividend

Reaping demographic dividend

POLICYMAKERS and social scientists optimistically discuss the demographic dividend as if the benefits are imminent and within grasp. However, many developing countries, including Bangladesh, will not be able to achieve this economic benefit without appropriate policies and substantial investments in a number of areas. Indeed, as recent development history suggests, the demographic dividend...

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