Institutions remain the most important factor for strengthening productivity and the investment climate in a country. Good governance, rule of law, and socio-political stability are crucial determinants of long-run economic growth. As famously described by Douglas North, “Institutions are the rules of the game in a society; more formally, they are the humanly devised constraints […]
Institutions and innovation are the two key elements that will determine whether Bangladesh will see sustainable economic growth and become an economic powerhouse, one day becoming a high-income country. It's high time our policymakers listened to the experts and created an ecosystem that drives growth.