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1. This book presents the intricacies of a developing economy in
the light of recent developments in economic theory. The context
marks the economy as Bangladesh while the text shows the writer to
possess both authority and comprehensiveness. 2. The author is a
trained economist from Cambridge, who was also a former minister of
Finance and Planning with the Bnagladesh government, and is
currently a member of the United Nations Committee for Development
Policy. 3. The book will be of interest to departments of
economics, development economics, developing economies, economics
and development, development policy, international busines across
UK and USA.
1. This book presents the intricacies of a developing economy in
the light of recent developments in economic theory. The context
marks the economy as Bangladesh while the text shows the writer to
possess both authority and comprehensiveness. 2. The author is a
trained economist from Cambridge, who was also a former minister of
Finance and Planning with the Bnagladesh government, and is
currently a member of the United Nations Committee for Development
Policy. 3. The book will be of interest to departments of
economics, development economics, developing economies, economics
and development, development policy, international busines across
UK and USA.
The remarkable speed at which microcredit has expanded around the
world in the last three decades has piqued the curiosity of
practitioners and theorists alike. By developing innovative ways of
making credit available to the poor, the idea of microcredit has
challenged many traditional assumptions about both poverty
reduction strategies and financial markets. While this has
encouraged new theorising about how microcredit works, the practice
of microcredit has itself evolved, often in unpredictable ways,
outpacing the development of theory. The Theory and Practice of
Microcredit aims to remedy this imbalance, arguing that a proper
understanding of the evolution of practice is essential both for
developing theories that are relevant for the real world and for
adopting policies that can better realize the full potential of
microcredit. By drawing upon their first-hand knowledge of the
nature of this evolution in Bangladesh, the birthplace of
microcredit, the authors have pushed the frontiers of current
knowledge through a rich blend of theoretical and empirical
analysis. The book breaks new grounds on a wide range of topics
including: the habit-forming nature of credit repayment; the
institutional strength and community-based role of microfinance
institutions; the relationships between microcredit and informal
credit markets; the pattern of long-term participation in
microcredit programmes and the variety of loan use; the scaling up
of microenterprises beyond subsistence; the "missing middle" in the
credit market; and the prospects of linking micro-entrepreneurship
with economic development. The book will be of interest to
researchers, development practitioners and university students of
Development Economics, Rural Development, or Rural Finance, as well
as to public intellectuals.
This Handbook on the South Asian Economies (a companion to the
Handbook on the Northeast and Southeast Asian Economies) is a
comprehensive and unique collection of original studies on the
economic and social development of countries in South Asia. The
analytical narratives draw upon a wide range of existing literature
in an easily accessible way, whilst highlighting the impact of
socio-political factors on economic outcomes. The introductory
chapter by the editors provides a comprehensive survey of the main
features of South Asian economic development, especially in respect
of the policy reforms since the late 1970s.The handbook seeks to
understand the varying degrees of achievements in economic
transformation and social development in various parts of South
Asia, and ponders whether these experiences indicate alternative
pathways of socio-economic progress or provide a unique framework
for a South Asian development model. The experiences of economic
reforms across the South Asian countries, with their distinctive
socio-economic settings and public cultures, may thus provide fresh
perspectives on the emerging development paradigms. The Handbook is
indeed based on the premise that development economics and South
Asia have a lot to learn from each other.As with the Handbook on
the Northeast and Southeast Asian Economies, this latest handbook
will be an invaluable reference work for many years to come for
researchers, academics and students of Asian studies and economics.
Policymakers interested in learning more about the background and
future opportunities and challenges posed by these economies will
also find much to engage them.
The remarkable speed at which microcredit has expanded around the
world in the last three decades has piqued the curiosity of
practitioners and theorists alike. By developing innovative ways of
making credit available to the poor, the idea of microcredit has
challenged many traditional assumptions about both poverty
reduction strategies and financial markets. While this has
encouraged new theorising about how microcredit works, the practice
of microcredit has itself evolved, often in unpredictable ways,
outpacing the development of theory. The Theory and Practice of
Microcredit aims to remedy this imbalance, arguing that a proper
understanding of the evolution of practice is essential both for
developing theories that are relevant for the real world and for
adopting policies that can better realize the full potential of
microcredit. By drawing upon their first-hand knowledge of the
nature of this evolution in Bangladesh, the birthplace of
microcredit, the authors have pushed the frontiers of current
knowledge through a rich blend of theoretical and empirical
analysis. The book breaks new grounds on a wide range of topics
including: the habit-forming nature of credit repayment; the
institutional strength and community-based role of microfinance
institutions; the relationships between microcredit and informal
credit markets; the pattern of long-term participation in
microcredit programmes and the variety of loan use; the scaling up
of microenterprises beyond subsistence; the "missing middle" in the
credit market; and the prospects of linking micro-entrepreneurship
with economic development. The book will be of interest to
researchers, development practitioners and university students of
Development Economics, Rural Development, or Rural Finance, as well
as to public intellectuals.
Agricultural development through crop diversification, irrigation,
high yielding crop varieties, and public investments in
infrastructure has improved food security and its seasonal
dimension worldwide in recent years. Consequently, the severity of
seasonal hunger caused by agricultural crop cycles has lessened
substantially. Yet in agricultural pockets scattered throughout
Sub-Saharan Africa and Asia, seasonal hunger persists, especially
among the rural poor, owing primarily to idiosyncratic shocks
caused by agricultural seasonality. More than four-fifths of the
world's poor live in rural areas and depend on agriculture for
livelihoods. Because of seasonal income shocks, the poor who are
generally poor are likely to be even poorer during a particular
agricultural season, while those who are not poor year-round may
also be so during that season. Also, seasonal hunger may lead to
endemic poverty if its adverse effects on income and consumption
are irreversible. Policies aimed at reducing overall poverty often
disregard its seasonal dimension, because standard poverty
statistics do not consider seasonal hunger in the official data
collection and analysis, there is no direct way to determine how
many of the "bottom billion," as economist Paul Collier refers to
the world's poorest people, suffer from seasonal hunger. Even
worse, regions prone to severe seasonal hunger are unlikely to
attract the public investments required to raise the local
economy's resilience through income diversification and thus break
the seasonal-poverty cycle. The book provides an exhaustive inquiry
of Bangladesh's seasonal hunger with special reference to the North
West region. The seasonality of poverty and food deprivation is a
common feature of rural livelihood but it is more marked in the
north-west region of Bangladesh. The book also presents an
evaluation of several policy interventions launched recently in
mitigating seasonality, which provide a test case of what works and
what does not in combating seasonal hunger. The major findings of
the book are the following: (a) Policies to improve food security
should explicitly take into account the seasonal dimension of food
deprivation. (b) Gains from initiatives to combat seasonal hunger
should be monitored and consolidated to ensure sustainable impacts.
(c) Policies should also focus on areas that, owing to
environmental degradation and climate change, are increasingly
vulnerable to seasonal hunger and food insecurity in
general.|Agricultural development through crop diversification,
irrigation, high yielding crop varieties, and public investments in
infrastructure has improved food security and its seasonal
dimension worldwide in recent years. Consequently, the severity of
seasonal hunger caused by agricultural crop cycles has lessened
substantially. Yet in agricultural pockets scattered throughout
Sub-Saharan Africa and Asia, seasonal hunger persists, especially
among the rural poor, owing primarily to idiosyncratic shocks
caused by agricultural seasonality. The book provides an exhaustive
inquiry of Bangladesh's seasonal hunger with special reference to
the northwest region, where it is more pronounced. It also presents
an evaluation of several policy interventions launched recently in
mitigating seasonality, which provide a test case of what works and
what does not in combating seasonal hunger. The major findings of
the book are: (a) Policies to improve food security should
explicitly take into account the seasonal dimension of food
deprivation. (b) Gains from initiatives to combat seasonal hunger
should be monitored and consolidated to ensure sustainable impacts,
and (c) Policies should also focus on areas that, owing to
environmental degradation and climate change, are increasingly
vulnerable to seasonal hunger and food insecurity in general.
In South Asia, the impact of global economic vulnerability has been
felt mainly through finance, trade and investment channels
affecting the performance of the real economy. The slowdown in
growth of exports and remittances, and other associated changes in
the domestic economies have resulted in lower growth. This has also
had social implications through changes in household income,
intra-household decisions and resource allocations creating adverse
impact on food security, nutrition, education, health care as well
as poverty dynamics and its intergenerational transmission.
Adjusting to Global Economic Volatility: The Case of South Asia
attempts to answer three questions: a) How has South Asia been
coping with the impacts of global economic vulnerability? b) What
has determined the differential impact of various sectors to global
economic and financial crisis? c) What demand- and supply-side
bottlenecks need to be eased to meet the challenges of global
vulnerability and how regional cooperation can help the countries
going forward? Meeting the global volatility challenges calls for a
reform agenda that cuts across both domestic economies as well as
the framework for regional cooperation. It must also be recognised
that regional cooperation is not easy, and implementation of
required actions is frequently weak in South Asian countries having
diverse backgrounds. Furthermore, effective regional cooperation
and integration takes time to develop and requires incremental,
gradual and flexible implementation with visible payoffs.
Successful cooperation requires leadership. Development of regional
resources can be one of the important areas to make progress, which
creates opportunities for win-win outcomes and equitable sharing of
benefits among all partners.
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