Bangladesh Studies
Bangladesh Studies
  • Home
  • Bangladesh
    • Foreword
    • Acknowledgements
    • Preface
  • Country Profile
    • Country
    • Geography
    • Society
    • Economy
    • Transportation and Communications
    • Government and Politics
    • National Security
  • Introduction
    • bangladesh studies>
      • Chapter 1 - Historical Setting >
        • EARLY HISTORY, 1000 B.C.-A.D. 1202
        • Islamization of Bengal, 1202-1757
        • European Colonization, 1757-1857>
          • Early Settlements
          • The British Raj
        • Pakistan Period , 1947-71>
          • Transition to Nationhood, 1947-58
          • The "Revolution" of Ayub Khan, 1958-66
          • Emerging Discontent, 1966-70
          • The War for Bangladeshi Independence, 1971
        • Birth of Bangladesh>
          • Early Independence Period, 1971-72
          • Fall of the Bangabandhu, 1972-75
          • Restoration of Military Rule, 1975-77
          • The Zia Regime and Its Aftermath, 1977-82
      • Chapter 2 - The Society and Its Environment>
        • Geography>
          • The Land
          • Climate
          • River Systems
        • Population>
          • Population Structure and Settlement Patterns
          • Migration
          • Population Control
        • Social System >
          • Transition to a New Social Order
          • Rural Society
          • Urban Society
          • Women's Role in Society
          • Social Classes and Stratification
        • Religion>
          • Islam
          • Hinduism
          • Buddhism
          • Christianity
        • Education>
          • The British Legacy
          • Education System
          • Religious Education
          • Education Planning and Policy
        • Health>
          • Disease and Disease Control
          • Health Care Facilities
          • Medical Education and Training
      • Chapter 3. The Economy>
        • Economic Context >
          • Historical Perspective
          • Economic Reconstruction after Independence
        • Managing the Economy>
          • Economic Policy and Planning
          • Government Budget Process>
            • Revenue Budget
            • Development Budget
        • Joint Ventures and Foreign Investment
        • Money and Banking>
          • Currency Fluctuation
          • The Banking System
        • Foreign Assistance >
          • Test Case for Development
          • Aid Dependence>
            • International Banks
            • United Nations
            • Foreign Governments and Private Donors
        • Agriculture>
          • Structure of Agricultural Production
          • Food Crops
          • Industrial Crops
        • Industry>
          • Traditional Sectors
          • Ready-made Garments
          • Other Industries
          • Mineral Development
          • Technological Advances
        • Foreign Trade >
          • Export Sectors
          • Balance and Terms of Trade
        • Transportation and Communications>
          • Inland Waterways and Ports
          • Road Transportation
          • Railroads
          • Civil Aviation
          • Telecommunications
          • Tourism
        • Problems and Prospects
      • Chapter 4 - Government and Politics>
        • Structure of Government>
          • Constitution
          • Legislature
          • Executive>
            • Presidency
            • Council of Ministers
          • Judiciary
          • Civil Service
          • Local Administration
        • The Ershad Period>
          • Achieving Stability, 1982-83
          • Emerging Opposition, 1983-86
          • Relaxation of Martial Law, 1986-87
          • More Opposition Pressure
        • Political Dynamics >
          • Local Elites
          • The National Party
          • Party Politics>
            • Awami League
            • Bangladesh National Party
            • Islamic Parties
            • Alliances
            • Workers and Students
            • Women in Politics
        • The Media
        • Foreign Policy >
          • South and Southeast Asia>
            • India
            • Pakistan
            • Other Nations
          • China and Other Asian Nations
          • The Islamic World
          • The Superpowers>
            • United States
            • Soviet Union
          • Western Europe, Canada, Australia, and New Zealand
          • International Organizations
      • Chapter 5 - National Security>
        • Armed Forces and Society>
          • Colonial Origins
          • Pakistan Era
          • The Liberation War
          • Postindependence Period
        • Organization of the Armed Forces>
          • Legal Basis
          • Recruitment
          • Mission>
            • National Defense
            • Intelligence and Security
          • Security Environment
          • Defense Spending
          • Foreign Acquisitions and Ties
        • The Three Services>
          • Army
          • Navy
          • Air Force
        • Auxiliary Forces >
          • Bangladesh Rifles
          • Ansars
          • Police
          • Village Defence Party
        • Public Order and Internal Security>
          • Violence and Crime
          • Insurgency in the Chittagong Hills
          • Criminal Justice
          • The Military in the Late 1980's
  • Bibliography
  • Glossary
  • About us
  • Contract us
Chapter 3. The Economy
Picture


Drying and sifting rice, Bangladesh's main staple

IN THE LATE 1980s, Bangladesh continued to be called the "largest poorest" country and to be singled out as "the test case for development." A great deal that had happened in the economy since independence in 1971 supported the hope that the country would eventually overcome its dependence on foreign aid and would approach relative self-sufficiency. In the meantime, success was measured in more limited and immediate accomplishments: greater production of food grains year by year, greater vigor shown by the private sector in generating investment capital and using it productively, and measurable growth and diversification of exports. The government continued to depend on the donor community to provide the bulk of the resources needed to promote human development in the form of nutrition, health, and education programs. The most active donors continued to give Bangladesh good marks for its economic performance.

In 1971, the year Bangladesh achieved independence from Pakistan, the new nation was referred to in foreign circles as an "international basket case," a wounded combatant almost beyond hope of recovery. Bangladeshis themselves, recalling the "international basket case" characterization, often choose the metaphor "bottomless basket," implying that no matter how much assistance is given to the economy, there will always be a need for more. It is a tribute to the Bangladeshi people, to the constructiveness and generosity of other nations, and to the strength of the human spirit that the gloomiest fears have not materialized. The firsttime observer of Bangladesh may still perceive the country as poverty stricken, overpopulated, and with little prospect for a sunnier future. In its first seventeen years of independence, Bangladesh did not prosper, nor was it able to improve substantially the quality of life for its huge population, but it did not lose ground either. If the prospects for rapid economic development were not noticeably better in 1988 than they were in 1972, it was encouraging that Bangladesh was active in economic fields that were not foreseen even a few years earlier--e.g., as a major producer and exporter of ready-made garments and frozen seafood. And if the economy still seemed dangerously poised on the brink of disaster--a drought, a typhoon, or excessive flooding threatens every year--the government, the people, and the international community had combined to limit the scope of disasters, and the economy of Bangladesh had continued to struggle upward.

Powered by Create your own unique website with customizable templates.