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BDS Volume VI, No. 4, 1978

On Food Shortage Forecasting : A Rejoinder

Author: Thomas J. Manetsch

On Food Shortage Forecasting : A Comment

Author: Md. Mizanur Rahman

On Critical Investment Rates

Author: James McIntosh

On the Mixed Blessing of Tied Aid

Author: Carl Hamilton

The Functional Form of the Demand for Money in Bangladesh

Author: G.V.S.N. Murty and S

Abstract
A generalised money demand function (GMDF), based on Box-Cox parametric transformations, has been estimated for Bangladesh. This generalised form reduces to the liner, semi-log and log-linear forms, under certain restrictions. By incorporating different transformations, and by considering equilibrium and disequilibrium versions, the estimates of the generalised money demand function have been compared with those obtained from the restrictive models. A log-likelihood test has been carried out for choosing an appropriate functional form. Our results indicate that the linear form is appropriate for the equilibrium version of the money demand function, while in the disequilibrium version, none of the restricted models seems to be appropriate. The behavioural properties of the alternative models have been examined by considering the movement of income and interest rate elasticities in the sample period. The empirical performance of alternative models in terms of their predictive ability has also been examined. Theil’s U-statistic constructed for this purpose revealed the superiority of estimating the generalised money demand function.

On the Normative Measurement of Inequality

Author: S. R. Osmani

Abstract
Recent attempts at devising normative measures of inequality are critically examined in this paper. It is argued that some of the well-known measures are operationally irrelevant in comparing inequality between situation involving unequal total incomes. In addition, a new approach is suggested for comparison of inequality in the face of both unequal total incomes and different price structures. The framework of ‘constant price comparison of named goods vectors’ which has recently been employed for real national income comparison, is used for this purpose. The operational relevance of the new approach is also critically examined.

The Manufacturing Sector of Bangladesh—An Overview

Author: Qazi Kholiquzzaman A

Abstract
The paper attempts to analyse the course of development in the manufacturing sector of Bangladesh over the past three decades. Two distinct time periods, viz, pre-liberation and post-liberation periods, are distinguished for the purpose of analysis. The paper identifies the basic philosophies behind the industrialisation strategies in the two periods and analyses the manner in which actual policies pursued have been shaped by these philosophies as well as the impact of these policies on the achievements and failures of this sector. Some policy suggestions are made with respect to certain major weaknesses of this sector being felt at present. The paper concludes with some observations on the kind of general socio-political changes that would be required in order to develop a viable manufacturing sector which will also be best equipped to serve the interests of the common people.  

Formulating A Viable Land Policy for Bangladesh — What Do We Need to Know

Author: Abu Abdullah

Abstract
This paper attempts three things. First, it tries to put the discussion of land reform policies in its proper context by relating it to the existing agrarian structure. Secondly, it presents a critique of too-facile generalisations about the supposed benefits of certain recommended policies. Thirdly, it broaches a discussion of the political preconditions and consequences of these policies. The first three sections develop the argument that the dominant mode of production in Bangladesh agriculture is a petty peasant mode of production, whose working are modified in important ways but not yet qualitatively transformed by the dominance at a higher level of the world capitalist system. It is the fragmented nature of peasant property, rather than rent, usury capital, or merchant capital, that constitutes the main internal barrier to growth. It is argued that while policies like abolition of Sharecropping and ceiling legislation may be politically essential as a transitional programme, they cannot provide in themselves a solution to the agrarian problem. Finally the paper tries to evaluate the political feasibility of the various policies discussed, given the existing class structure and the class nature of the state, and concludes on what may be called a guardedly pessimistic note.

Prevalence of Dietary Inadequacy in Energy and Protein Intake in Rural Bangladesh

Author: M. Abdullah, A. Sabe

The Bangkok Agreement : An Evaluation of its Implications in Trade Liberalisation in Asia

Author: I.N. Mukherjee

Abstract
The Bangkok agreement, signed under the auspices of the United Nations Economic Commission for Asia and the Pacific (ESCAP), is Asia’s first multilateral trade liberalisation effort leading to the establishment of a preferential trading arrangement in the region. After tracing the roots of cooperation in trade culminating in the signing of the Agreement, this paper examines the possible distribution of benefits among the member countries. Using alternative criteria to measure the exchange of benefits, it is contended that its implementation, in its present form, is likely to lead to imbalances, particularly between the relatively developed and the less developed member countries. Accordingly some policy guidelines are suggested with a view to moderating the imbalances.
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