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Md. Aminul Islam
Escaping the middle-income trap: a study on a developing economy
The paddy procurement system for sustainability: evidence from Bangladesh agriculture sector
2023
,
Md. Jaber Al Islam
,
Imroz Mahmud
,
Md. Aminul Islam
,
Farid Ahammad Sobhani
,
Md. Sharif Hassan
,
Arif Ahsan
Middle-Income Trap (MIT) is a phenomenon wherein a nation finds itself unable to progress from a middle-income status to a high-income economy. Despite Bangladesh’s rapid economic growth as a developing economy following its transition to the lower-middle-income category, the country faces various economic challenges that may impede its advancement to higher-income tiers. Consequently, this study delves into whether Bangladesh can successfully navigate its way out of the lower-middle-income and upper-middle-income traps. To assess this, the study initially employed a time threshold method known as the “Number of Years Method.” It determined that Bangladesh is poised to break free from the lower-middle-income and upper-middle-income traps by 2029 and 2041, provided the nation can sustain a per capita Gross National Income (GNI) growth rate of 9.69%. To further evaluate the sustainability of this income growth, the study utilized three quantitative approaches: Catch-up Growth, Growth Report, and Growth Acceleration. Interestingly, these methods yielded contrasting results. The insights generated by this study hold significance for economists and policymakers in Bangladesh and other developing economies facing similar challenges. These findings enable them to assess the likelihood of becoming ensnared in the middle-income trap and, as a result, formulate appropriate strategies to overcome it.
2023
,
Md. Ashraful Islam
,
Md. Aminul Islam
,
Farid Ahammad Sobhani
,
Pradip Royhan
,
Md. Kausar Alam
,
Md. Sharif Hassan
Bangladesh derives one-half of its agricultural GDP and one-sixth of its national income from paddy. It is crucial to the farmers’ ability to survive. This paper aims to investigate current paddy procurement system and farmer awareness in the Bangladeshi agricultural sector to ensure business sustainability. This paper utilised a quantitative approach to research. The research investigated farmers’ consciousness through perception and contentment. For the measurement, a survey of 210 farmers from three Upazilas was conducted using a closed-ended, pre-tested questionnaire. Version 20 of the SPSS programme was used for data analysis. Approximately 67.6% of respondents were unhappy with the current paddy procurement system, according to the study. Approximately 69.10% of respondents believe there is a middleman in the current paddy procurement system, approximately 94.30% of respondents believe the current system needs improvement, and 99.0% believe a new paddy procurement system could be beneficial. Furthermore, these findings led to the conclusion that there is room for improvement in the current paddy procurement system, which will increase the transparency and sustainability of paddy procurement activities for everyone, including farmers.