MACMILLAN Numbers and Narratives in Bangladesh's Economic Development

This book focuses on socio-economic developments of Bangladesh by challenging the dominant international narrative of the case being termed as “development surprise”, “development paradox” or “development conundrum,” given the absence of good governance. In doing so, the book examines the political economic dynamics and offers valuable insights into the current state of the Bangladeshi economy in light of stability, transformability and sustainability. Pointing to the ‘high’ rate of growth in gross domestic product (GDP) in Bangladesh, there is wide belief that economic growth can be obtained even without functioning institutions, and is more important than an inclusive political system. Advocates go on to argue that authoritarianism may be condoned as long as a steady course of development is perused. However, the inadequacy of comparative analysis in to the state of the economy of Bangladesh vis-à-vis other relevant economies makes such claims myopic and parochial. This book thus investigates the numbers and narratives to ascertain the validity of such assertions and lamentations by looking at the necessary and sufficient conditions of development. The necessary conditions imply an incisive inquiry into the factors of economic growth― land, labour, capital and technology while sufficient conditions warrant a penetrating incisive inquiry into the factors of economic growth― land, labour, capital and technology. As such, the book explores development by drawing variables of politics and economics to find out a causal relationship, and interjects these variables have on themes such as growth, agriculture, manufacturing industry, financial sector, health, education, poverty and inequality. Review “The book is an important addition to the literature on development studies in general and political economy of South Asia in particular. It contains useful leads and insights on the process of growth in less developed economies and provides interesting guidelines to construct a growth framework. Its main takeaway is that quantitative growth cannot be sustained in the long run without improving its quality.” (Pervez Tahir, PIDE P&R, Vol. 2 (6), June, 2021) From the Back Cover This book focuses on socio-economic developments of Bangladesh by challenging the dominant international narrative of the case being termed a “development surprise”, “development paradox” or “development conundrum.” In doing so, the book examines the political economic dynamics of the country and offers valuable insights into the current state of the Bangladeshi economy in light of stability, transformability and sustainability.  Pointing to the ‘high’ rate of growth in gross domestic product (GDP) in Bangladesh, there is wide belief that economic growth can be obtained even without functioning institutions, and is more important than an inclusive political system. Advocates go on to argue that authoritarianism may be condoned as long as a steady course of development is perused. However, the inadequacy of comparative analysis on the state of the economy of Bangladesh vis-à-vis other relevant economies makes such claims myopic and parochial.  This book thus investigates the numbers and narratives to ascertain the validity of such assertions and lamentations by looking at the necessary and sufficient conditions of development. The necessary conditions imply an incisive inquiry into the factors of economic growth: land, labour, capital and technology. As such, the book explores development by drawing variables of politics and economics to find out a causal relationship to themes such as growth, agriculture, manufacturing industry, financial sector, health, education, poverty and inequality. Rashed Al Mahmud Titumir has worked in diverse constituencies, namely, academia, governments, think-tanks, international organisations and media. He has led numerous projects for diverse organisations including governm