The aftermath of the global financial crisis of 2007–2009 has called the export-led growth model of Asian economies into question. This paper describes the contribution that macroeconomic policy can make to promote a rebalancing of growth away from dependence on exports to...

The paper uses the emerging Association of Southeast Asian Nations (ASEAN) Economic Community as a motivation to explore the issue of capital flow management in an economic community. Although there is an increasingly shared view that capital flow management measures should be part of the...

Since the 1980s, emerging countries have been urged to welcome foreign capital inflows. The result has often been a pattern of surges, where excessive inflows were followed by damaging “sudden stops†and reversals. This was dramatically evident in the Asian crisis of...

The Impossible Trinity doctrine still holds a powerful sway over policymakers, advisors (particularly the International Monetary Fund [IMF]) and academia. In East Asia over the past decade, however, most countries have been able to maintain open capital markets, monetary policy...

The present document seeks to trace the emerging trends in the Bangladesh economy in the fiscal year 2011-12 (FY12). To this end, the paper first establishes the benchmark conditions of the current fiscal year by sketching a consolidated picture of FY11 with an analysis of the year-closing data....

This year's budget speech set out a slogan : "Towards Building a Happy, Prosperous and Caring Bangladesh". It included a detailed narrative of past achievements. Contextualisation of global trends. A revised MTMF taking cognisance of the new realities. A comparative matrix of past promises and...

This Report puts forward recommendations emerging from the Conference on Development with Equity and Justice : Immediate Tasks for the Newly Elected Government organised by the Centre for Policy Dialogue (CPD). The Conference was held at the Bangladesh-China Friendship Conference Centre during...

Monetary policy is the process by which the central bank of a country controls the supply of money, the availability of money, and the cost of money or rate of interest, in order to attain a set of objectives oriented towards the growth and stability of the economy. Fiscal policy induced...

Both FY2007 and the ongoing FY2008 will go down as exceptional years in the history of Bangladesh. Fiscal year 2008 started its journey in the backdrop of the moderately high growth rate of 6.51 per cent achieved in FY2007. Experience of FY2007 was unique in the sense that it saw three...

The Centre for Policy Dialogue(CPD) has been carrying out the Executive Opinion Survey in collaboration with World Economic Forum (WEF) since 2001.This is the tenth survey. Along with WEF’s Executive Opinion Survey (based on questionnaires developed by the WEF) ,CPD also conducted seventh...