Economy of Bangladesh Lecture Notes

Practice flashcards covering the economic history, current status, color-coded economic sectors, and developmental planning of Bangladesh based on the lecture transcript.

Sheikh Mujibur Rahman Era (1972-1975)

An era in which the government of Bangladesh followed a nationalization policy, creating a state-owned economy.

Ziaur Rahman Era (1976-1981)

An era where a denationalized economy was followed in place of a nationalized policy.

H. M. Ershad Era (1982-1990)

An era focused on a denationalized economy, specifically following the development of the Private sector.

Sheikh Hasina Era (1996-2001, 2008-2024)

An era focused on Foreign Investment, International Migration and Remittances, and the implementation of Mega Projects like the "Bay of Bengal Industrial Growth Belt (BIG-B)".

Nature of the Bangladesh Economy

It is a mixed economy that patronizes a Free Market, effectively develops the private sector, and depends heavily on RMG (Ready Made Garment) industry exports.

Brown Economy

Traditional growth focused on fossil fuels and extractive industries that is harmful to climate, water, and biodiversity.

Green Economy

Sustainable production involving renewables, recycling, and pollution reduction which supports all 17 SDGs.

Blue Economy

The extraction of sea resources for economic growth, involving maritime territory, sustainable fisheries, and offshore renewable energy.

Golden Economy (Sunshine)

A transition to clean energy such as solar, wind, hydro, and tidal, tied directly to SDG 7 (Affordable & Clean Energy).

Purple Economy

A social and cultural economy focusing on education, care services, gender equality, and wellbeing.

White Economy

The economy related to the health and care sector, including hospitals, pharmaceuticals, and medical staff.

Silver Economy

The economy focusing on the consumption, care services, and leisure of older adults aged $50+$.

Bangladesh Maritime Territory

Sovereign rights over more than $118,813\,square km$ of maritime territory, including a $200$ nautical mile exclusive economic zone.

Gig Economy

A free market system in which temporary positions are common and organizations contract with independent workers for short-term engagements.

Gig Worker Profile in Bangladesh

Typically between $19-40$ years old, mostly migrants from other districts to Dhaka, with very few female workers.

Circular Economy

A systemic approach to economic development designed to benefit businesses, society, and the environment by being restorative or regenerative by design.

Linear Economy

A traditional economic model based on the 'take-make-waste' approach.

Vision 2041

A strategic articulation of the development vision and goals for the Bangladesh government to become a high-income economy.

9th Five Year Plan GDP Target

A target seeking a GDP growth rate of $8\%+$ by FY31.

Sustainable Development Goals (SDGs)

A set of goals for the period $2016-2030$ adopted by the UN General Assembly in 2015.

Government Budget

A document presenting proposed revenues and spending for a financial year; for FY 2025-26, Bangladesh's total expenditure is estimated at $TK790,000CR$.

LDC Graduation

The UN-recognized exit from "Least Developed Country" status based on proving stronger income (GNI per capita), human assets (HAI), and lower vulnerability (EVI).

Next 11

A term used by Goldman Sachs to include Bangladesh among emerging countries to watch along with the BRIC nations.

Frontier Five

A list by JP Morgan that includes Bangladesh among emerging economies worth investing in.

Bangladesh LDC Graduation Deferral

The request to delay the exit from LDC status from 2026 to 2029 to provide more preparation time against external shocks and trade pressures.