Why Is the Research on Higher Education and Labor Market Nexus Needed in Transitional Bangladesh?

Abstract

Inequality is growing all over the world. As literature shows, two determinants are repeatedly mentioned, responsible for this inequality: incomes and jobs. The growing international trade and technological advancement direct this change as machines are increasingly replacing jobs. Nowadays, Bangladesh is gaining progress in transforming the rural-based agrarian economy approaching modern urban-based manufacturing and service-based economy, contributing a sound basis for further transformation. Simultaneously, it was an agricultural country from its genesis, and agriculture played a dominant role in the economy regarding income generation and employment opportunities. Education is pertinent in this regard as it has significant implications in human capital and the labor market. This study strives to identify the influence of governance in higher education and the labor market and focuses on exploring the significant determining factors of inequality in the existing society. It also tries to answer why the research on higher education and the labor market is essential in Bangladesh for self-sustaining and how the research could be executed. In this global era, institutions produce a bias in favor of the status quo. This study focuses on knowing how this bias will change through research on governance in education and the labor market in the future. Finally, the study concludes by expecting the practical outcomes of further research on higher education and the labor market for sustainable growth and development.