Problems and prospects for corporate governance in Bangladesh: Some case studies basis analysis

Bangladesh is one of the least economically developed countries in the world. A lack of corporate governance creates problem for the economic development of the country. This study has been undertaken to observe whether corporate governance is being well-executed in Bangladesh and to inform views about which approach to corporate governance will be more acceptable to the county. The study has examined six cases to see whether corporate governance is properly utilised in the country. It is suggested that monetary, fiscal and exchange rate policies should be applied with appropriate diligence by the Securities and Exchange Commission, the Bangladesh Bank and the National Board of Revenue. It is expected that value can be added through arranging primary and supportive activities. Attention to inbound and outbound logistics is likely to improve productivity, enhancing profitability, long run sustainability and creating distinct competencies for the Bangladesh economy. Ultimately this may help to improve gross domestic product and the basic needs of the population.

Does monetary policy matter in a less developed economy? Evidence from Bangladesh

This paper explores the role of monetary policy in the context of a less developed economy. Monetary transmission mechanisms in less developed economies can be quite different from an industrialized economy, as unlike industrialized countries, these economies are characterized by the small size of organized financial markets, limited substitutability between money and other assets and weak fiscal and monetary institutions. We utilize the Structural VAR approach to analyze the monetary transmission process and impacts of monetary policy on different macro variables in Bangladesh. Monetary policy shocks are identified using non-recursive contemporaneous restrictions, which are based on the Central Bank's reaction function and the structure of the economy. We found strong evidence for the interest rate channel of monetary policy in Bangladesh. Our findings indicate that monetary policy shocks are important sources of fluctuations in the rate of interest, output and prices. Expansionary monetary policies are found to be harmful for achieving price stability in Bangladesh, as they not only increase the prices permanently, but also make the price level more volatile. We also found the evidence of a long lasting effect of monetary policy on output, which suggests that contractionary policy measures may create sustained recession in Bangladesh.

Legal Regulation of Corporate Social Responsibility : A Meta-Regulation Approach of Law for Raising CSR in a Weak Economy

"Even though Corporate Social Responsibility (CSR) has become a widely accepted concept promoted by different stakeholders, business corporations' internal strategies, known as corporate self-regulation in most of the weak economies, respond poorly to this responsibility. Major laws relating to corporate regulation and responsibilities of these economies do not possess adequate ongoing influence to insist on corporate self-regulation to create a socially responsible corporate culture. This book describes how the laws relating to CSR could contribute to the inclusion of CSR principles at the core of the corporate self-regulation of these economies in general, without being intrusive in normal business practice. It formulates a meta-regulation approach to law, particularly by converging patterns of private ordering and state control in contemporary corporate law from the perspective of a weak economy. It proposes that this approach is suitable for alleviating regulators' limited access to information and expertise, inherent limitations of prescriptive rules, ensuring corporate commitment, and enhance the self-regulatory capacity of companies. This book describes various meta-regulation strategies for laws to link social values to economic incentives and disincentives, and to indirectly influence companies to incorporate CSR principles at the core of their self-regulation strategies. It investigates this phenomenon using Bangladesh as a case study."--publisher website

Consumption in Rural Bangladesh : Households, Lifestyles, and Identities

Bangladesh, often better known to the outside world as a country of natural calamities, is one of the most densely populated countries in the world. Despite rapid urbanization, more than 75% of the people still live in rural areas. The density of the rural population is also one of the highest in the world. Being a poor and low-income country, its main challenge is to eradicate poverty through increasing equitable income. Since its independence in 1971, Bangladesh has experienced many ups and downs, but over the past three decades, its gross domestic product (GDP) has grown at an impressive rate. Consequently, the country s economy is developing and the country has outperformed many low-income countries in terms of several social indicators. Bangladesh has achieved the Millennium Development Goal (MDG) of eliminating gender disparity in primary and secondary school enrollment. A sharp decline in child and infant mortality rates, increased per capita income, and improved food security have placed Bangladesh on the track to achieving in the near future the status of a middle-income country. All these developments have influenced the consumption pattern of the country. This study explores the consumption scenario of rural Bangladesh, its changing consumption patterns, the relationship between technology and consumption in rural Bangladesh, cultural consumption in rural Bangladesh, and the myriad reasons why consumers nevertheless feel compelled to consume chemically treated foods. Data were collected in two phases in the summers of 2006 and 2008. In 2006, the empirical data were collected from the following three sources: interviews with consumers, producers/sellers, and doctors and pharmacists; observations of sellers/producers; and reviews of articles published in the national English and Bengali (the national language of Bangladesh) daily newspapers. A total of 110 consumers, 25 sellers/producers, 7 doctors, and 7 pharmacists were interviewed and observed. In 2008, data were collected through semi-structured in-depth qualitative interviews, ethnography, and unstructured conversations substantiated by secondary sources and photographs; the total number of persons interviewed was 22. -- Data were also collected on the consumption of food, clothing, housing, education, medical facilities, marriage and dowry, the division of labor, household decision making, different festivals such as Eid (for Muslims), the Bengali New Year, and Durga puja (for Hindus), and leisure. Qualitative methods were applied to the data analysis and were supported by secondary quantitative data. The findings of this study suggest that the consumption patterns of rural Bangladeshis are changing over time along with economic and social development, and that technology has rendered aspects of daily life more convenient. This study identified the perceptions and experiences of rural people regarding technologies in use and explored how culture is associated with consumption. This study identified the reasons behind the use of hazardous chemicals (e.g. calcium carbide, sodium cyclamate, cyanide and formalin, etc.) in foods as well as the extent to which food producers/sellers used such chemicals. In addition, this study assessed consumer perceptions of and attitudes toward these contaminated food items and explored how adulterated foods and food stuffs affect consumer health. This study also showed that consumers were aware that various foods and food stuffs contained hazardous chemicals, and that these adulterated foods and food stuffs were harmful to their health.

Economic analysis of carp based culture technologies in selected areas of Bangladesh

Six carp based culture technologies such as, carp-pangas, carp polyculture, carp-golda, pangas monoculture, golda monoculture and nursery have been selected to determine the cost and returns of respective technologies in Bangladesh. The sample farmers selected for these technologies were 55, 100, 65, 50, 51 and 55 respectively and thus the total sample size stood at 376. The study covered 7 districts of Bangladesh, namely, Mymensingh, Bogra, Noakhali, Comilla, Jessore, Khulna and Bagerhat. Both primary and secondary data were used for this study. It was found that farmers used a good number of feeds for the selected technologies and they maintained no standard doses for them. Remarkable differences were found among the prices of different feeds and other inputs used for different technologies in different locations. Prices of all inputs were found to be increasing and this increase was more in recent years compared to previous years. Though all the technologies were found to be profitable, the feed situation was not satisfactory. Except rice polish all the local feeds showed deficit in supply to meet the national demand for the country. If this situation persists and no proper measures are taken to secure the local feed supply, the present development of supplementary feed-based aquaculture would be fully dependent on imported feeds and would not be sustainable in future. This study strongly suggests the corresponding authority to handle the matter with proper attention considering its significant livelihood impact on the economy of the country.

Status of the biodiversity of St. Martin's Island, Bay of Bengal, Bangladesh

A total of 234 species of fish have been recorded from the St Martin Island. Of which, 98 species are coral associated. The total number of recorded mollusc and crab species stands at 187 and 7 species respectively. A total of 66 coral species were recorded, of which 19 are fossil corals, 36 living corals and the rest are under 6 families of subclass Octocorallia (soft corals). A total of 14 species of algae have been recorded from the St. Martin's Island. There is an estimated amount of 1500 MT red sea weed biomass available around the St. Martin's Island. The island contains some of the most unique, benthic community associations in Bangladesh, not found anywhere else in the South Asian region. The unique marine communities have very high scientific value for research and monitoring and there are only a few examples worldwide, where coral-algal communities dominate rocky reefs. The economy of the island is based on fishing. It is estimated that, about 1650 MT of fish are caught annually. Over-exploitation of renewable marine and coastal resources (e.g., rocky reef fisheries, coral and shell extraction; removal of coastal vegetation from inter-tidal and sub-tidal habitats) is a major threat to this ecosystem. Destructive fishing practices, mainly the use of rock-weighted gill nets over the inshore boulder reefs is of prime aggravates. Proper implementation of the rules and regulation for Ecologically Critical Areas (ECA's), alternative livelihood for the local people and further research should be immediately taken for sustainable utilization and to save the rich biodiversity of the only coral island in Bangladesh.

Projecting marine fish production and catch potential in Bangladesh in the 21st century under long-term environmental change and management scenarios

The fisheries sector is crucial to the Bangladeshi economy and wellbeing, accounting for 4.4% of national Gross Domestic Product (GDP) and 22.8% of agriculture sector production, and supplying ca.60% of the national animal protein intake. Fish is vital to the 16 million Bangladeshis living near the coast, a number that has doubled since the 1980s. Here we develop and apply tools to project the long term productive capacity of Bangladesh marine fisheries under climate and fisheries management scenarios, based on downscaling a global climate model, using associated river flow and nutrient loading estimates, projecting high resolution changes in physical and biochemical ocean properties, and eventually projecting fish production and catch potential under different fishing mortality targets. We place particular interest on Hilsa shad (Tenualosa ilisha), which accounts for ca.11% of total catches, and Bombay duck (Harpadon nehereus), a low price fish that is the second highest catch in Bangladesh and is highly consumed by low income communities. It is concluded that the impacts of climate change, under greenhouse emissions scenario A1B, are likely to reduce the potential fish production in the Bangladesh Exclusive Economic Zone (EEZ) by less than 10%. However, these impacts are larger for the two target species. Under sustainable management practices we expect Hilsa shad catches to show a minor decline in potential catch by 2030 but a significant (25%) decline by 2060. However, if overexploitation is allowed catches are projected to fall much further, by almost 95% by 2060, compared to the Business as Usual scenario for the start of the 21st century. For Bombay duck, potential catches by 2060 under sustainable scenarios will produce a decline of less than 20% compared to current catches. The results demonstrate that management can mitigate or exacerbate the effects of climate change on ecosystem productivity.

A Comparative Study Of The Organisation And Management Of Notihed Markets In Bangladesh With The Organisation And Management Of Regulated Markets In West Bengal India

For improving agricultural marketing, which has been discussed in the previous chapter, the Government has intervened in different ways. The direct regulatory role through the regulation of markets and market practices is one of the ways in which governmental intervention can improve agricultural marketing. This study is an enquiry of the direct regulatory role of the government through regulation of markets and market practices. By restructuring the operational methods and redesigning the existing physical markets, this system gives direct benefit to the cultivating class and protects them from the market manipulations of organised and powerful private traders. If traders do not continue their trade for the time being they will not be affected financially, because they are resourceful or financially solvent. On the other hand, Cultivators must sell their produce immediately after harvesting for the lack of additional facilities or to satisfy other needs for which finance is required. Another important reason is that Cultivators/farmers are not organised and because of lack of their organisation, they sell their produces individually. In this situation, a farmer is helpless when astute traders indulge in manipulations at the time of purchase of the produces. So it is the government's obligation to protect the interest of the farmers. Protection of the farmer/cultivator is necessary not only from the point of social justice but also from that of economic growth. If the farmers are assured of a remunerative or incentive price for their produce, they will get the inspiration to produce more and through more production, economy will be developed and the nation as a whole will be benefitted. This study will examine the management system of the markets through the direct regulatory role played by the governments to control markets and market practices in West Bengal and Bangladesh.

Rice versus fish revisited: On the integrated management of floodplain resources in Bangladesh

Disproportionately little attention has been paid to the dry season trade-off between rice and (inland capture) fish production on the floodplains of Bangladesh, compared to the same trade-off during the flood season. As the rural economy grows increasingly dominated by dry-season irrigated rice production, and floodplain land and water come under ever-increasing pressure during the dry winter months, there is an urgent need to focus attention on these dry months that are so critical to the survival and propagation of the floodplain resident fish, and to the poor people that depend on these fish for their livelihood. This article examines three important dry-season natural resource constraints to floodplain livelihoods in Bangladesh, and finds a common factor at the heart of all three: rice cultivation on lands at low and very low elevations. The article articulates the system interlinkages that bind these constraints and the long-run trend towards irrigated rice cropping on lower-lying lands, and suggests a management approach based on locally tailored strategies to arrest this trend. Apart from its direct relevance to the floodplains of Bangladesh, which support more than 100 million people, these lessons have relevance for river floodplain systems elsewhere in the developing world, notably the Mekong Delta.

Community-based climate change adaptation strategies for integrated prawn-fish-rice farming in Bangladesh to promote social-ecological resilience

Farming freshwater prawns with fish in rice fields is widespread in coastal regions of southwest Bangladesh because of favourable resources and ecological conditions. This article provides an overview of an ecosystem-based approach to integrated prawn-fish-rice farming in southwest Bangladesh. The practice of prawn and fish farming in rice fields is a form of integrated aquaculture-agriculture, which provides a wide range of social, economic and environmental benefits. Integrated prawn-fish-rice farming plays an important role in the economy of Bangladesh, earning foreign exchange and increasing food production. However, this unique farming system in coastal Bangladesh is particularly vulnerable to climatechange. We suggest that community-based adaptation strategies must be developed to cope with the challenges. We propose that integrated prawn-fish-rice farming could be relocated from the coastal region to less vulnerable upland areas, but caution that this will require appropriate adaptation strategies and an enabling institutional environment.

Sources of economic growth in Bangladesh : 1972/73 - 1995/1996

Attempts to estimate the total factor productivity (TFP) of the economy of Bangladesh during the period 1972/73 - 1995/96 and finds that it has been declining. This indicates a failure to increase efficiency in the use of the factors of production, such as total cropped land, total employed labour and gross capital stock. This failure has been causing slower and more volatile economic growth in Bangladesh with respect to many South, East and South-East Asian countries.

Profiling contemporary marketing practices in Bangladesh

Purpose – The purpose of this paper is to explore how different types of firms relate to their markets in
terms of contemporary marketing practices (CMP) in an emerging country, Bangladesh. Additionally,
the paper also examines the various marketing performance measures used by Bangladeshi firms.
Design/methodology/approach – The CMP survey was used on 165 marketing managers chosen from
a range of industrial sectors as a basis for data collection. Data were analyzed using cluster analysis and other descriptive statistics.
Findings – The study found that a pluralistic marketing approach is predominant among the majority of
the Bangladeshi firms, while few other firms also practise transactional marketing. Results also reveal
that Bangladeshi firms apply a blend of performance indicators rather than relying on specific financialor
client-based measures to evaluate business success.
Research limitations/implications – The present study provides a benchmark for future studies on
CMP in emerging/developing countries and inspires further research designed to deepen
understanding about how marketing is practised in emerging markets and how they may differ from
developed markets.
Originality/value – Since very few studies have been conducted regarding CMP by incorporating both
business-to-business and consumer goods/services firms for a specific country into an emerging
market, this study adds a new dimension to the horizon of CMPs.