Economic management 'needs to be more serious'
Wednesday, 16 December 2009
FE Report
Economic management in Bangladesh needs to be based on more serious and in-depth policy analysis, but linking research to policy is not easy, said Professor Wahiduddin Mahmud at a roundtable Tuesday.
"Any credible policy analysis has to be supported by in-depth research and impact evaluation," he said at the roundtable on Operationalising Pro-Poor Growth: Research-Policy Links.
The programme was jointly organised by Bangladesh Institute of Development Studies, Economic Research Group, and International Growth Centre.
From economic analysts to economic journalists, all are involved in translating the academic economics into public policy, Professor Wahid said.
Public discussions on economic issues are a healthy sign of democratic governance, he said, adding, "Economists do not get incentives for doing research, unless the policy-makers seek advice from them."
He said to the economic practitioners, not only the future, but also the past becomes uncertain in the event of delay in getting data.
Finance Minister AMA Muhith said the government has long been dependent on research work for taking any future course of action.
Development of the ready-made garment and textile sectors has been possible due to a research work done in '80s, he said.
"I attended a seminar on Trade and Industries Policy (TIP) in 1986 and to describe the prospect of these two sectors in that programme, it was said that the sky is the limit," he added.
The export basket is dominated by textile products, but it should be diversified.
"Sectors like pharmaceutical, footwear, furniture and toys are performing well, but we don't pay much attention to those," Mr Muhith said.
"There should be research on why exporters are not interested in those sectors," he said.
He admitted that the quality of economic statistics is very poor and there is also delay in publishing those.
"There is a notion that if the aid flow dries up, the development work will stop," he said.
Economic management in Bangladesh needs to be based on more serious and in-depth policy analysis, but linking research to policy is not easy, said Professor Wahiduddin Mahmud at a roundtable Tuesday.
"Any credible policy analysis has to be supported by in-depth research and impact evaluation," he said at the roundtable on Operationalising Pro-Poor Growth: Research-Policy Links.
The programme was jointly organised by Bangladesh Institute of Development Studies, Economic Research Group, and International Growth Centre.
From economic analysts to economic journalists, all are involved in translating the academic economics into public policy, Professor Wahid said.
Public discussions on economic issues are a healthy sign of democratic governance, he said, adding, "Economists do not get incentives for doing research, unless the policy-makers seek advice from them."
He said to the economic practitioners, not only the future, but also the past becomes uncertain in the event of delay in getting data.
Finance Minister AMA Muhith said the government has long been dependent on research work for taking any future course of action.
Development of the ready-made garment and textile sectors has been possible due to a research work done in '80s, he said.
"I attended a seminar on Trade and Industries Policy (TIP) in 1986 and to describe the prospect of these two sectors in that programme, it was said that the sky is the limit," he added.
The export basket is dominated by textile products, but it should be diversified.
"Sectors like pharmaceutical, footwear, furniture and toys are performing well, but we don't pay much attention to those," Mr Muhith said.
"There should be research on why exporters are not interested in those sectors," he said.
He admitted that the quality of economic statistics is very poor and there is also delay in publishing those.
"There is a notion that if the aid flow dries up, the development work will stop," he said.