Good Enough for Outstanding Growth : The Experience of Bangladesh in Comparative Perspective
This paper investigates the outstanding economic growth experience of Bangladesh. It shows that the country’s improvements in structural correlates of growth from 1990 to 2004 are in the global top 5 percent for any 15-year period since 1970. They...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English English |
| Published: |
World Bank, Washington, DC
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/099245308232224257/IDU0864f5b27096720401c084f70585706522d9d http://hdl.handle.net/10986/37914 |
| Summary: | This paper investigates the
outstanding economic growth experience of Bangladesh. It
shows that the country’s improvements in structural
correlates of growth from 1990 to 2004 are in the global top
5 percent for any 15-year period since 1970. They were
driven by infrastructure enhancements, more openness to
trade, and increasing foreign direct investment.
Additionally, this period coincided with significant
financial reforms after the banking crisis of the late 1980s
and increased political stability. A further increase in
growth after 2005 was not correlated with new growth
impulses from structural improvements. Instead, the benefits
from previous achievements and a stable macroeconomic and
institutional environment were “good enough” to prevent the
mean reversion of growth that comparable fast-growing
economies usually experience. |
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