Liberalisation and Growth in Bangladesh: An Empirical Investigation

Omar Bashar and Habibullah Khan
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Habibullah Khan: Professor of Economics and Associate Dean, U21Global, Singapore

Bangladesh Development Studies, 2009, vol. 32, issue 1, 61-76

Abstract: Economic liberalisation entails either trade liberalisation or financial and capital account liberalisation or both. Starting from the mid-1980s, Bangladesh gradually introduced various liberalisati on measures. The process was initiated by liberalising its international trade, whic h consisted permitting the exporters of non- traditional items to convert some of their export earnings at higher exchange rate in the secondary market, reduction of the tariff level and tariff dispersion, simplification and rationalisation of the ta riff structure, and deregulation of the import process as well as export incentives su ch as Export Performance Licensing, Export Performance Benefit Scheme, Sp ecial Bonded Warehouse Scheme, Back- to-Back L/C System, Export Credit Guarantee Scheme, Export Promotion Fund, bank loans, and “tax holiday.” The financial sector reforms in Bangladesh which began during the first half of the 1990s in clude liberalisation of interest rates, improvement of monetary policy, abolishi ng priority sector lending, strengthening central bank supervision, regulating banks, improving debt recovery and broadening capital market development. Capital account liberalisation in Bangladesh started in 1997 (International Monetary Fund 2000).

Keywords: Liberalisation; Growth in Bangladesh; Empirical Investigation (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2009
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