Is Bangladesh’s Economy Approaching the Lewis Turning Point?

South Asia Economic Journal Pub Date : 2019-03-01 DOI:10.1177/1391561418822208

S. Bairagi, M. Kamal

引用次数: 3

Abstract

During the last decade, Bangladesh economy grew consistently over 6 per cent annually; however, growth rate in the agriculture sector declined. Labour away from agriculture is evident; it is also evident real wages in the agriculture sector are rising. This could be an indication that Bangladesh is moving to a different stage of economic development. This article investigates whether Bangladesh is approaching a stage of economic development where marginal productivity of labour equals its price, called the Lewis turning point (LTP). We find that the reallocation of labour away from agriculture has had a positive but insignificant impact on economic growth in Bangladesh. We also find that the surplus agricultural labour has not fully been absorbed by the economy. Therefore, we conclude Bangladesh has yet to reach the LTP and suggest initiating policies (e.g., job creation in the service sector) that might speed up the country’s movement to the LTP. JEL: O11, O17, O41, O53

查看原文本刊更多论文

孟加拉国经济正在接近刘易斯拐点吗?

在过去十年中，孟加拉国经济的年增长率一直超过6%;然而，农业部门的增长率下降了。农业以外的劳动力是显而易见的;农业部门的实际工资也在明显上升。这可能表明孟加拉国正在进入一个不同的经济发展阶段。本文调查孟加拉国是否正在接近一个经济发展阶段，即劳动力的边际生产率等于其价格，称为刘易斯拐点(LTP)。我们发现，农业劳动力的再分配对孟加拉国的经济增长产生了积极但不显著的影响。我们还发现，农业剩余劳动力并没有完全被经济吸收。因此，我们得出结论，孟加拉国尚未达到长期发展计划，并建议启动可能加速该国向长期发展计划迈进的政策(例如，在服务业创造就业机会)。耶利米书:11、17、41、53

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

South Asia Economic Journal Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.10

自引率

0.00%

发文量

期刊介绍： The South Asian nations have progressively liberalized their economies in recent years in an effort to integrate with the world economy. They have also taken steps to enhance multilateral and regional economic integration. Even though the South Asian economies have grown at an average rate of more than 5 per cent over the last few years, roughly 40 per cent of their people still live below the poverty line. Hence, the South Asian region continues to face many challenges of economic and social development. The South Asia Economic Journal (SAEJ) is designed as a forum for informed debate on these issues, which are of vital importance to the people of the region who comprise one-sixth of the world’s population. The peer-reviewed journal is devoted to economic analysis and policy options aimed at promoting cooperation among the countries comprising South Asia. It also discusses South Asia’s position on global economic issues, its relations with other regional groupings and its response to global developments. We also welcome contributions to inter-disciplinary analysis on South Asia. As a refereed journal, SAEJ carries articles by scholars, economic commentators,policy-makers and officials, from both the private and public sectors. Our aim is to create a vibrant research space to explore the multidimensional economic issues of concern to scholars working on South Asia. Among the issues debated in relation to South Asia are: - the implications of global economic trends; - the issues and challenges by WTO; - approaches to industrialization and development; - the role of regional institutions such as the SAARC; - the relationship between SAARC and other regional economic groupings such as ASEAN; - the implications of economic liberalization for trade and investment in the region; - new initiatives that can be launched to enhance economic cooperation among the South Asian countries both on a bilateral and a regional basis.