EAN: 9789811320705

STRUCTURAL CHANGE AND DYNAMICS OF LABOR MARKETS...

Outlining important policy requirements for Bangladesh to become an upper middle-income country
the book presents research work conducted during the project Changing Labor Markets in
Bangladesh: Understanding Dynamics in Relation to Economic Growth and Poverty  sponsored by the
International Development Research Center (IDRC)  Canada. Bangladesh has experienced remarkable
economic growth rates over the last decade. The country has recently been upgraded from a
low-income country (LIC) to a lower-middle-income country (LMIC) as per the World Bank's
classification system. By 2024  the country also aspires to graduate from the United Nation's
list of least developed countries (LDC). The 7th five-year plan sets an ambitious target of 8
percent growth in GDP by 2020. There are also steep development targets to be achieved under
the Sustainable Development Goals (SDGs) by 2030. All these will require an enormous leap
forward from the current level of economic growth rate and sustaining it in the future. The
situation also calls for considerable structural change in the economy  facilitating
large-scale economic diversification. Rapid expansion of labor-intensive and high-productivity
sectors  both in the farm and nonfarm sectors  is thus crucial for Bangladesh. Further  this
should take place in conjunction with interventions to enhance productivity  jobs and incomes
in traditional and informal activities where there are large pools of surplus labor. Given its
relevance for Bangladesh and applicability to many other developing countries  the book offers
a unique and pioneering resource for researchers  industry watchers as well as policy makers.

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