Quick and Inclusive Economic Development
3 Pages Posted: 13 Jan 2017
Date Written: January 11, 2017
Bangladesh achieved its independence through a bloody war in 1971. The 1st government of independent Bangladesh under the leadership of Bangabandhu Sheikh Mujibur Rahman took initiative to rebuild the war destroyed country as soon as possible. Foreign aid, grants, loans were collected to rehabilitate Bangladeshi’s into respective profession. A large number of West Pakistani and foreign entrepreneurs, professionals went back to the respective countries and a common vacuum was visible in every sector. The then government of Bangladesh was influenced by the communist leaders of Bangladesh. As a result government adopted socialistic policies in economic arena. Socialist model resultants into nationalization movement and control market economy situation. But after a certain period, government has to shift its sole communist ideology into moderate socialistic approach due to many reasons. After 19980s capitalistic movement started to get momentum and individual investment in many sectors were inspired by the government policies. A long list of nationalized industries started to be sold into private sector. Foreign direct investment and private sector driven economy get started its progress in the independent Bangladesh.
Keywords: Economic Development of Bangladesh, Sustainable Development, Sustainability of Development
JEL Classification: O11
Suggested Citation: Suggested Citation