Regulatory Governance in a Third-World Economy : Policy Perspective on Bangladesh

This paper investigates the governance climate and governance perception of Bangladesh in absolute and in comparison with other countries in the South Asian region of the world. An in-depth analysis and evaluation of the political economy of Bangladesh since in some cases 1996 and in most other cases since 2000, reveals an overall inefficiency of the public sector to ensure free, fair, accountable, and transparent business and investment climate. This paper recommends a strong regulatory governance initiative in both absolute and relative terms so that it could address such vital issues as corruption, political and legal instability, voice and accountability, transparency of government activities, and efficiency in goods market and financial market. These actions will lead to good governance, macroeconomic stability, and stronger international support through capital flows. The global competitiveness of Bangladesh can thus improve and economic growth could be achieved enviably