Thinking Aloud: Volume IX, Issue 12: May 1, 2023

The May 2023 issue of Thinking Aloud focuses on industrial transformation, growth and employment potential of the Matarbari Deep Sea Port, and Gender Responsive Budgeting. The first page article, “Strategies for Trade-oriented Industrial Transformation in South Asia” analyses premature industrialisation experienced in many developing countries and the takeaways for South Asian nations. The article points out that, despite that the need for industrialisation in South Asian countries for further economic and social development is well acknowledged, there are concerns that the policy regimes and associated factors are yet to be favourable for industrialisation in these countries. While trade and associated policies play a critical role in the industrialisation process, many South Asian countries are lagging in formulating and implementing such policies consistent with the need for the industrialisation process. The article suggests five strategies for the trade-oriented industrial transformation in South Asia: addressing policy-induced challenges, addressing supply-side challenges, human capital for rapid industrialization, attracting large-scale foreign direct investment (FDI), and making special economic zones (SEZ) effective. This issue features two more articles on the under-construction Matarbari Deep Sea Port (DSP) and Gender Responsive Budgeting in Bangladesh. The second page article titled “Growth and Employment Potential of the Matarbari Deep Sea Port” presents the findings from a study conducted by SANEM. The article outlines the economic and trade impact of Matarbari development project. Applying the SAM multiplier model with an integrated employment matrix, the study estimated the impact of investment on and export through the Matarbari DSP on growth and employment. The third page article, titled, “An Analysis of Gender Responsive Budgeting: Bangladesh Perspective” discusses the effectiveness of gender budgeting through a detailed inspection of the processes and allocation trend. Building on the historical background of gender responsive budgeting, the article examines the role of the Ministry of Finance, Government of Bangladesh in the budget making process. The article contends that the methodology of the GRB exercise that is followed in Bangladesh is quite subjective and the gender sensitivity analysis of the projects has room for improvement. The fourth page showcases the events of April and May 2023.