Getting Policies and Institutions Right

Bangladesh Economic Association (1974-1976). This modest contribution is dedicated to Chunnu Miah (Abu Ahmed Abdullah), Akhlaq Bhai (Dr. Akhlaqur Rahman), Swadesh Da (Dr. Swadesh Ranjan Bose) and Doc (Dr. Abdul Ghafur) who loved Bangladesh and cared for all of us. A silent genius that Chunnu was he left a permanent stamp on me. We shared a room as paying guests in a Delhiwali Bhaji’s house in Karachi when we started our professional career at PIDE under Sir (Professor Nurul Islam) and later shared an apartment during our graduate studies at Harvard. His was an untimely death that has left a large void in the BIDS family. The author gratefully acknowledges the extensive use of ideas and inputs from all members of the BEF in preparation of this paper. Errors and omissions are author’s own. Years back what Professors Nurul Islam, Rehman Sobhan and Anisur Rahman taught me at Dhaka University and PIDE are engraved in the content of this paper. I cannot say nor do enough to repay my lifelong debt to them. As colleagues, boss and mentors Sartaz Aziz and Idriss Jazairy of IFAD sharpened my knowledge of development and poverty. Dr. A.R. Khan and Dr. S.R. Bose’s research guided me throughout my professional career. My friend Arjun Thapan of ADB whose recently deceased father a General in the army fought to liberate Bangladesh has inspired in me broader approach to issues an