Towards a Sustainable Economy: The Case of Bangladesh

Description

The Sustainable Development Goals (SDGs) were introduced by the United Nations (UN) for all member nations with a total of 17 goals and 169 targets to be achieved between 2016 and 2030. The recent pandemic has presented more challenges to achieving the UN’s SDGs. This book examines Bangladesh’s ascendancy in socio-economic terms and the prospects of Bangladesh overcoming the challenges to become a higher-middle-income nation by 2030. This book traces the transformation of Bangladesh from 1996 through 2020 and examines various factors contributing to its success from rural economy, external support, manufacturing, and structural transformation to energy consumption. This book also looks at the challenges and opportunities for Bangladesh as the Fourth Industrial Revolution unfolds and as climate change, to which Bangladesh is highly vulnerable, escalates. This book will be a useful reference document for those who are interested in gaining more insights into inclusive growth and sustainable development from the case study of Bangladesh. Cover Half Title Series Page Title Page Copyright Page Dedication Contents Figures Images Tables Contributors Preface Acknowledgements Part I: Overview Introduction 1 Introduction References 1. Socio-Economics of Bangladesh: Present Status and Future Trajectory Introduction Socio-Economic Progress Since 2010 Certain Major Vulnerabilities and Responses Other Challenges and Responses Concluding Remarks Notes References Part II: Transformation Over 1996 to 2020 2. Manufacturing Growth and Structural Transformation: The Case of Bangladesh 2.1 Introduction 2.2 Bangladesh Economy: Growth and Structure 2.3 Strategies for Manufacturing Growth 2.4 Manufacturing: Output and Employment Growth 2.5 Manufacturing: Export Growth 2.6 Manufacturing: Ownership Distribution 2.7 Challenges and Concerns 2.8 Concluding Remarks Notes References 3. Remittances, Foreign Aid, and Economic Growth in Bangladesh: An Empirical Analysis 3.1 Introduction 3.2 Literature Review 3.2.1 Foreign Aid and Economic Growth 3.3 Remittances and Economic Growth 3.4 Foreign Aid and Remittances 3.5 Preliminary Data Analysis2 3.6 Modelling the Relationship and Estimation Results 3.7 Concluding Comments Notes References 4. Impact of COVID-19 on the Ready-Made Garments Industry of Bangladesh 4.1 Introduction 4.2 Starting the Journey of the RMG Sector in Bangladesh and the Challenges It Faced 4.3 Overview of RMG Sector and Influence on Bangladesh 4.3.1 Influence of RMG Sector on Bangladesh Economy 4.3.2 Dependence on Woven and Knit to Export RMG Products 4.4 Traditional and Non-Traditional Export Market Influence on Bangladesh RMG Products 4.4.1 RMG Sector's Employability and Women Empowerment 4.4.2 Working Conditions in the RMG Sector 4.5 Backward Linkages of the Bangladesh RMG Sector 4.6 Status of Global Agreement Available for Bangladesh 4.6.1 GSP Facility 4.6.2 FTA 4.6.3 Trans-Pacific Partnership (TPP) Deal 4.7 Impact of COVID-19 on the RMG Sector 4.8 Stimulus Packages Introduced for Fighting Back 4.9 The Impact of Stimulus Packages on the RMG Sector 4.10 Conclusions References 5. Energy Consumption and GDP Nexus in Bangladesh 5.1 Introduction 5.2 Review of Literature 5.3 Methodology 5.3.1 Energy 5.3.2 GDP 5.3.3 Gross Capital Formation 5.3.4 Labour 5.4 Preliminary Data Analysis 5.5 Estimation Results 5.6 Conclusions and Policy Implications Note References 6. Determinants of Sustainable Foreign Direct Investments in Bangladesh 6.1 Introduction 6.1.1 Determinants of FDI: Global and Asian Experience 6.1.2 Determinants of FDI: Bangladesh Experience 6.2 Trends in Socio-economic and Demographic Indicators 6.2.1 Trends in Socio-economic and Demographic Indicators Bangladesh 6.2.2 Trends in Socio-economic and Demographic Indicators: A Comparative Analysis 6.2.3 FDI Inflows into Bangladesh 6.3 Determinants of FDI in Bangladesh: Data and Methodology 6.4 Estimation Results 6.5 Conclusions Note References Part III: Innovation and Opportunities 7. Nonfarm Employment and Household Calorie Consumption in Rural Bangladesh 7.1 Introduction 7.2 The Rural Nonfarm Sector in Bangladesh 7.3 Data Description of Rural Households 7.4 Summary Statistics 7.5 Household Expenditure of Rural Areas of Bangladesh 7.6 Modelling the Impact of Nonfarm Income on Household Calorie Consumption 7.7 Empirical Results 7.8 Concluding Comments Notes References 8. Bangladesh's Agricultural Growth and Development Over Fifty Years 8.1 Introduction 8.1.1 Bangladesh's Vision 2021 Agenda and Agriculture 8.2 Growth Trends of Agriculture 8.2.1 Growth Over the Last Four Decades 8 2.2 Analyzing Sources of Growth 8.2.2.1 Rice Crops 8.2.3 Implications of Growth Trend 8.3 Potentials vs Reality for Agricultural Production in the Past 8.3.1 Cereals 8.3.2 Roots and Vegetables 8.3.3 Pulses and Oilseeds 8.3.4 Fruits 8.3.5 Other Commodities 8.4 Perspectives for Agricultural Development to 2030 8.4.1 Some Growth Projections for Cereal Production 8.4.2 Future Scenario and Challenges 8.4.2.1 Improving Genetic Gain 8.4.2.2 Yield Gap 8.4.2.3 Adoption Lag 8.4.2.4 Investment in Rice Research 8.4.3 Agriculture in the Era of High Growth 8.5 Strategies and Policy Issues for the Future 8.6 Conclusion References 9. Green Development in the Era of the Fourth Industrial Revolution: Lessons from the Developed World 9.1 Introduction 9.2 Innovations in Industrial Revolutions and Benefits 9.3 Fourth Industrial Revolution in the Post-COVID Era 9.4 Green Energy Development 9.4.1 Energy Mix 9.4.2 Energy Storage 9.4.3 Carbon Capture, Storage, and Utilization/Decarbonization 9.5 Sustainable Strategy for Development: Lessons for Bangladesh 9.6 Conclusions References Part IV: Challenges to 2030 10. Poverty and Inequality Reduction in Bangladesh: Making Growth Inclusive and Adopting Transformative Social Policy 10.1 Introduction 10.2 Economic Growth and Structural Changes 10.2.1 GDP Growth and Occupational Structure 10.3 Trends in Poverty and Inequality in Bangladesh 10.3.1 Conceptualizing Poverty in Bangladesh 10.3.2 Changes in Poverty 10.3.2.1 Trends in Poverty 10.3.3 Inequality in Bangladesh 10.3.3.1 Social Inequalities 10.4 Quality of Growth in Bangladesh 10.5 Policies for Poverty and Inequality Reduction 10.6 Concluding Remarks Notes References Appendix 11. Bangladesh's Rohingya Conundrum 11.1 Introduction: Bangladesh Economy, 1983-2015 11.2 Rohingya Conundrum 11.3 Conclusion References 12. Sanitation Development in Asia: India, Bangladesh, and Cambodia Compared 12.1 Introduction 12.1.1 India 12.1.2 COVID-19 Pandemic Impact on Sanitation Development in India 12.2 Claims of India's Success with Sanitation Development 12.3 Parallels and Comparisons 12.3.1 Bangladesh 12.3.2 Cambodia 12.3.2.1 Market-Based Solutions 12.4 Comparison to Indian Access 12.5 Sanitation Nationalism 12.6 Women and the Young 12.7 Conclusion References Part V: Conclusions 13. Sustainable Growth and Bangladesh's Prospects of Long-Term Prosperity 13.1 Introduction 13.2 An Overview of Bangladesh's Growth and Development 13.2.1 Growth Between 1990 and 2005 13.2.2 MDGs: A Tale of Two Asias (2000-2015) 13.2.3 Remittance in the Era of MDGs 13.2.4 Ready-Made Garment Exports in the Era of MDGs 13.2.5 Bangladesh's Vision 2021: What Lessons? 13.2.5.1 Vision 2041 13.3 Responsible Future Research 13.3.1 Rural Enterprise Development: A Pillar for Sustainable Growth and Development 13.3.2 Bangladesh Context References Index