Macroeconomic Policy, Price Stability and Inclusive Growth in Bangladesh
Muqtada, Muhammed | July 2018
Abstract
During the past two decades, the economy of Bangladesh experienced a fairly sustained macroeconomic stability and was able to achieve substantial growth in gross domestic product (GDP). However, there is evidence to suggest that this growth has neither been inclusive nor has it been able to bring about structural change needed to sustain higher growth. The paper contends that the macroeconomic policymaking would require a re-think in order to meet the above challenges. The present paper reviews the current macroeconomic policy framework and underscores the need for balancing its usual emphasis on stability with the need for structural change and social inclusion. This would in turn require an expansionary macroeconomic policy, albeit cautious, that focuses robustly on stepped-up investment, job growth and reduction of inequality and vulnerability. To this end, the paper explores the critical role of monetary, fiscal, external and financial inclusion policies and how far these could address the above challenges. Macroeconomic policies, focused simply on stability and a status quo budget, cannot deliver the desired employment and inclusion outcomes unless these also address and accommodate various associated sectoral, labour market, and social inclusion measures.
Citation
Muqtada, Muhammed. 2018. Macroeconomic Policy, Price Stability and Inclusive Growth in Bangladesh. © Centre for Policy Dialogue. http://hdl.handle.net/11540/8581.ISSN
2225-8175 (Online)
2225-8035 (Print)
Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Results-Based Monitoring And Evaluation
Project Evaluation & Review Technique
Project Evaluation
Program Evaluation
Performance Evaluation
Operations Evaluation
Evaluation Methods
Evaluation
Social condition
Economic dependence
Economic assistance
International monetary relations
International monetary relations
International trade
National accounting
Market
Project impact
Development projects
Program management
Performance appraisal
Project appraisal
Technology assessment
Exports
Exchange
Comparative economics
Index number
Monetary policy
Value analysis
Adjustment cost
Transaction cost
Conditionality
International relations
Cumulative effects assessment
Grievance procedures
Participatory monitoring and evaluation
Exchange rate
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