Quest for Inclusive Growth in Bangladesh: An Employment-focused Strategy 9811576130, 9789811576133

Table of contents :
Foreword
Editor’s Preface
Authors’ Acknowledgements
Contents
Editor and Contributors
Acronyms
1 Inclusive Growth: Background Considerations and Key Themes
1.1 Evolving Significance of Social Inclusion in Development Planning
1.1.1 The Euphoria of Growthmanship
1.1.2 Patterns of Growth
1.1.3 Pro-poor Growth
1.1.4 Inclusive Growth and the Employment Approach
1.1.5 Inclusive Growth, the COVID-19 Pandemic and Economic Crises
1.2 The Plan and an Overview of the Book
1.2.1 A Case Study on Bangladesh
1.2.2 Some Considerations
1.2.3 The Themes: An Overview
References
2 The Quest for an Inclusive Growth Strategy
2.1 The Emergence of Inclusive Growth
2.1.1 The Basic Considerations
2.1.2 Inclusive Growth: Definitions and Characterisations
2.2 The Poverty–Growth–Inequality Nexus
2.3 Inclusive Growth and Multi-dimensionality of Poverty and Inequality: Few Ground Realities
2.3.1 The Narrative
2.3.2 Numbers, Norms and Multidimensionality
2.3.3 Beyond Averages
2.3.4 Growth-Induced Inequality and Exclusion
2.3.5 Structural Factors
2.4 Does Inclusive Growth Subsume Pro-poor Growth? a Strategy Perspective
2.5 Full Employment as a Key Metric of Inclusive Growth
2.6 Goals and Priorities of Inclusive Growth
2.7 Inclusive Growth and the SDGs
2.8 Designing a National Inclusive Growth Strategy
References
3 Inclusive Growth in Bangladesh: Evidence and Issues
3.1 Introduction
3.2 Sustainable Growth and Structural Transformation
3.3 Poverty and Inequality
3.4 Employment
3.5 Access to Infrastructure and Public Services
3.6 Access to Education, Health and Social Protection
3.7 Gender Parity
3.8 Governance and Institutions
3.9 Inclusive Growth in Bangladesh: A Recapitulation
3.9.1 Poverty and Inequality Pillar
3.9.2 Growth and Structural Transformation Pillar
3.9.3 Employment Pillar
3.9.4 Access to Infrastructure and Public Services Pillar
3.9.5 Access to Education, Health and Social Protection Pillar
3.9.6 Gender Parity Pillar
3.9.7 Governance and Institutions Pillar
3.10 An Inclusive Growth Index
3.10.1 Inclusive Growth Index
3.11 Concluding Remarks
3.12 Annex
References
4 Macroeconomic Policy, Price Stability and Inclusive Growth
4.1 Introduction
4.2 Macroeconomic Reforms, Stability and Growth
4.3 An Inclusive Growth for Bangladesh: Macroeconomic Policy Challenges
4.4 Monetary Policy, Price Stability and Inclusive Growth
4.5 Financial Sector Development and Financial Inclusion
4.6 Fiscal Policy, Employment and Social Inclusion
4.6.1 Bangladesh’s Fiscal Position: Selected Issues
4.6.2 Seeking an Expansion in Fiscal Space
4.6.3 A Budget for Social Inclusion
4.6.4 Thinking Alternatively
4.7 External Stability, Growth and Jobs
4.7.1 External Stability: Potential Threats and Challenges
4.7.2 External Stability, Exports and Jobs Growth
4.8 Conclusion
References
5 Growth of Manufacturing Employment in the Changing Context of Trade and Trade-Related Policies
5.1 Introduction and Objectives
5.2 Practices of Trade-Related Policies in Different Categories of Manufacturing Industries
5.2.1 Export-Oriented Industries
5.2.2 Domestic-Market-Oriented Industries
5.3 Full Employment Through Implementing Trade Policies: A Review
5.4 Overview of Manufacturing Employment: Structure, Composition and Growth
5.4.1 Overall Employment Structure in Bangladesh Economy
5.4.2 Structure of the Manufacturing Sector
5.4.3 Export of Manufacturing Goods
5.5 Production, Export and Employment in Different Manufacturing Industries
5.5.1 Exploring the ‘Size Effect’ of Trade on Employment
5.5.2 Exploring the ‘Composition Effect’ of Trade on Employment
5.5.3 Exploring the ‘Process Effect’ of Trade on Employment
5.5.4 Employment Elasticity of Manufacturing Industries
5.6 Trade Impulses to Growth of Manufacturing Sector in Bangladesh: Constraints
5.6.1 Policies for Labour-Based and Export-Oriented Industrialisation
5.6.2 Tariff Regime and Implications on Growth of the Manufacturing Sector
5.6.3 Effect of REER on Export and Import
5.7 Impact and Implications of COVID-19 on Production, Export and Employment in the Manufacturing Sector
5.8 Conclusion
References
6 Alternative Approaches to Full Employment in Bangladesh: Role of the Rural Non-farm Sector
6.1 Introduction
6.2 Emerging Role of RNF Employment: Issues and Debates
6.3 Growth of RNF Employment in Bangladesh
6.4 RNF Employment, Labour Mobility and Push–Pull Factors
6.5 Changing Patterns in Rural Labour Markets: Recent Developments
6.6 Structural Change in a Milieu of Growing Informal Sector: A Rethink
6.6.1 Gaps in Assessment
6.6.2 Formalising the Informal Sector
6.7 Pathways to Rural ‘Full Employment’
6.7.1 Growth in Agricultural Productivity
6.7.2 Growth in RNF Productivity and Earnings
6.7.3 Changing Structure of Household Income and Demand for RNF Goods and Services
6.7.4 Remittances as a Game Changer
6.8 Concluding Remarks
6.9 Annex
References
7 Role of Social Protection in Ensuring Inclusive Growth in Bangladesh
7.1 The Context
7.2 Definitional Issues
7.3 Characteristics and Depth of Social Protection in Bangladesh
7.4 Overview of SSNPs in Bangladesh
7.5 Limitations of SSNPs: Broad Reflections
7.5.1 Coverage, Quantum of Support and Skewed Allocation
7.5.2 Targetting and Adverse Selection
7.5.3 Poverty and SSNPs: The Regional Question
7.5.4 Lack of Clarity in Listing of Programmes
7.5.5 A Summary of Evaluation
7.6 Allocations and Priorities: Additional Remarks
7.6.1 Sectoral Programmes and SSNPs
7.6.2 Balancing Lop-Sidedness of Allocations
7.7 Social Protection During the Time of COVID-19
7.8 Universal Social Protection Floors in Bangladesh
7.9 The Broader Canvas: Social Protection and Inclusive Growth
7.9.1 Social Protection and Poverty
7.9.2 Social Protection and Inequality
7.10 The National Social Security Strategy: An Assessment
7.11 Moving Forward
References
8 Governance, Growth and Social Inclusion
8.1 Introduction
8.2 Examining the Issues
8.3 A Governance Score for Bangladesh
8.4 Governance and Growth
8.4.1 Influence of Governance on Growth
8.4.2 The Endogeneity Argument
8.5 Slack in Private Investment: A Test of Governance?
8.6 Governance, SDGs and Social Inclusion: Additional Considerations
8.6.1 Rights
8.6.2 Representation
8.6.3 Rule of Law
8.7 Challenges of Governance in Enhancing Inclusion: “Wrongs and Rights of Development”
8.7.1 Redistributive Measures
8.7.2 Empowering the Poor Through Employment and Decent Work
8.7.3 Public Policy and Public Goods
8.8 Concluding Remarks
References