Macroeconomic Policy and Institutions For Growth in Bangladesh

Birupaksha Paul's 'Macroeconomic Policy and Institutions For Growth in Bangladesh' examines the country's respectable growth record, arguing that even higher growth could have been achieved with more modern macro policy and stronger institutions. The book contends that policy favouritism towards the super-rich has led to a gradual erosion of fiscal capacity, rising default loans, incessant money laundering, and a weak capital market. It also highlights the formidable threats posed by growing income inequality, rising unemployment, and environmental degradation to Bangladesh's ambition of becoming a developed nation by the early 2050s. Paul argues that macro policy must be built on adequate knowledge and that expertise, not mere obedience with mediocrity, should determine institutional leadership. The book concludes that a quality combination of modern macro policy and accountable institutions is essential to make the nation's growth well-sustained and its development inclusive.