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How will Bangladesh reach higher levels of prosperity?

Sanjay Kathuria's picture
Bangladesh has now joined the ranks of a lower middle-income country. But the next phase of growth and poverty reduction is harder. Credit: World Bank

There is no doubt that Bangladesh is a modern day success story—a far cry from Henry Kissinger’s label of a “basket case.” Its growth has been steady, even impressive in the context of feeble global growth, and it has now joined the ranks of a lower middle-income country. Its poverty reduction record is even more impressive, with over 20.5 million people escaping poverty between 1991 and 2010.  

But the next phase of growth and poverty reduction becomes harder, since the more obvious sources of growth have largely been exploited.