Barriers to Economic Growth in Bangladesh

Assess the significance of three factors which might limit economic development in the developing countries.

From a perilous beginning, Bangladesh has attained notable advancements in economic and social development in about four decades. Since it won its independent in 1971 following a bloody war, many, in the international community were doubtful about the country’s long-term economic sustainability. Some observers predicted a state of continuing aid dependency, while others believed if a country with such enormous and innumerable development problems as Bangladesh could make strides in development, then possibly other developing countries could as

India’s domestic business has seen high levels of corruption; more commonly the fraudulent behaviours and bribery of government officials and civil servants. This creates an unlevel playing field between domestic business and foreign business. Evidently this seemingly small issue of corruption could potentially tarnish India’s position as favoured destination of foreign investment (Mendiolaza, 2012).

growth. Corruption reduces the efficiencies of the operations of the market economy and a loss

It is notable here that, Bangladesh is going to middle income earning country and according the many leading economic and finance expert it is to be the 23rd largest economy in the world by 2050 whereas many European nations will have smaller economies and less social security than us. The rise emerging market will boost the country’s employment, entrepreneurial and better living standard for everyone. As there already are many globally recognized accounting, finance and think tank organizations working within the country and I am highly positive to secure a brighter future for myself on my return to

Assess the significance of three factors which might limit economic development in the developing countries.

Corruption has been seen as a major obstacle of rapid economic growth and development. It is a complex phenomenon whose roots lay in political and bureaucratic institutions and affects the economic growth of different countries. It makes the governments intervene where they do not need to, and it weakens the ability of the government to enact and implement policies in areas in which government intervention is needed. Over the years, the dispute of the economic consequences of corruption on economic growth has been a topic of analysis. The analysis is focused on the effect of corruption on economic growth. Several studies have generally found a negative correlation between corruption, economic growth, inequality, governance, income distribution and business environment. At the same time also some positive correlation with economic growth has been found to exist.

It would be convenient to start this research paper by stating that corruption is a challenge mainly for businesses in developing countries and that it is unrelated to the current affliction of the economy in the United States. It would also be convenient to claim corruption has declined in America as a result of awareness raising campaigns and the numerous anti-corruption laws. But none of those aforementioned statements would be true. Corruption is not the exception, but rather the rule in today’s business practices. In 2004, Daniel Kaufmann, a senior fellow at Brookings Institution and former director at the World Bank, calculated an index of "legally corrupt" manifestations which is defined as the extent of undue influence

The concept of ‘sustainable development’ is one that has faced heated debates for decades now. A seemingly harmless concept, it raises a lot of questions as to what it really entails and how exactly it can be achieved. But with more than 1.3 billion people living in abject poverty (less than $1.25 a day), and with a reported 22,000 children dying every day as a result of poverty (UNICEF), the debate for Sustainable Development becomes interesting as it questions the extremity of economic growth policies, in the war against poverty. Many note economic growth and development as the only tool for poverty alleviation. Roemer and Gugerty, for example, report that GDP growth of 10% per year is associated with income growth of 10% for the poorest 40% of the population. However, others question the extent to which economic growth should be put above other socio-economic factors. Lele points out that the focus on economic growth has led to important ecological and social sustainability, taking the backseat. He argues that due to strong emphasis on economic growth, not enough attention is paid to social equity, and economic stability within the development discourse.

Ahmad N. (2002). Corruption and Government Regulations : An Empirical Analysis. The Bangladesh Development Studies , Vol. 28, No. 4 pp. 29-51.

Raising peoples’ living levels, i.e. incomes and consumption, levels of food, medical services, education through relevant growth processes. 2. Creating

Corruption is a complex political, social, and economic anomaly that negatively affects developing and developed countries. It weakens democratic institutions, holds economic development, widening the rich-poor gap and certainly leads to governmental instability. The World Bank definition of corruption states that “…the abuse of public office for private gain”.

Bangladesh is a developing country of southeast Asia. It is a country with a population of more than 150 million people. The government system is parliamentary government system. Bureaucracy is a important part of the government which works for the efficient and effective policy Implementation. Now a days corruption is seen every where in the society and for this bureaucracy can 't work properly. In this paper,l will try to find out the relationship between bureaucracy and corruption; try to find solution of this problem.

Bangladesh has got a population of around 150 million (2011) with a life expectancy at birth of around 63 years, and an adult literacy rate of 47.5%. The recent Human Development

Bangladesh is a south Asian country and has an approximate population reaching 164 million. The manufacturing industry is what Bangladesh is known for. That industry also accounted for almost 12% of GDP in 2009 and 2010 with employing over four million people (The Bangladesh Accord Foundation, 2014). The labor force is made up of young, urbanizing, mainly women. Bangladesh accounts for approximately 78% total exports (The Bangladesh Accord Foundation, 2014), which is second to China.