Good Enough for Outstanding Growth: The Experience of Bangladesh in Comparative Perspective

Robert Beyer and Konstantin Wacker

No 10150, Policy Research Working Paper Series from The World Bank

Abstract: This paper investigates the outstanding economic growth experience of Bangladesh. It shows that the country’s improvements in structural correlates of growth from 1990 to 2004 are in the global top 5 percent for any 15-year period since 1970. They were driven by infrastructure enhancements, more openness to trade, and increasing foreign direct investment. Additionally, this period coincided with significant financial reforms after the banking crisis of the late 1980s and increased political stability. A further increase in growth after 2005 was not correlated with new growth impulses from structural improvements. Instead, the benefits from previous achievements and a stable macroeconomic and institutional environment were “good enough” to prevent the mean reversion of growth that comparable fast-growing economies usually experience.

Date: 2022-08-23
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Journal Article: Good enough for outstanding growth: The experience of Bangladesh in comparative perspective (2024)
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