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The Impact of Poor Governance on FDI Bangladesh

The Impact of Poor Governance on FDI Bangladesh

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Categories:Business/Law, Finance
Published by: Anisur Rahman Faroque on Aug 21, 2008
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01/03/2013

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Session 3
Innovations in Governanceand Public Service to Achievea Harmonious Society
The Impact of Poor Governance on Foreign DirectInvestment: The Bangladesh Experience
QUAMRUL ALAM, MOHAMMAD EMDAD ULLAH MIAN,and ROBERT F. I. SMITH
E-governance in Bangladesh: A Scrutinyfrom the Citizens’ Perspective
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Session3-1.pmd20/11/2006, 3:15 PM320
 
321
NAPSIPAG
The Impact of Poor Governance on Foreign Direct Investment: The Bangladesh Experience
The Impact of Poor Governanceon Foreign Direct Investment:The Bangladesh Experience
Quamrul Alam
1
Mohammad Emdad Ullah Mian
2
Robert F I. Smith
3
Introduction
Foreign direct investment (FDI) is seen as an instrument by whichcountries can gain access to the benefits of globalization (Azim and Uddin2001). In recent years, FDI has received singular attention in many developingcountries. The close integration of national economies, driven by worldwidecompetitive pressures, economic liberalization, and the opening up of new areas of investment, has helped many countries to attract FDI (IFC 1997).Policy makers and multilateral organizations have increasingly emphasizedthe importance of a sound investment climate and flow of FDI in promotingeconomic growth in developing countries (Stern 2002).The climate for investment is determined by the interplay of many factors—economic, social, political, and technological—which have a bearingon the operations of a business. The business environment has three mainfeatures: macroeconomic conditions, governance, and infrastructure. The morefavorable these factors are to a firm’s operation, the more likely it is that thefirm will invest in the economy and help create a bandwagon effect for others.Bangladesh has long been trying to attract FDI. In the 1990s, Bangladeshachieved a growth rate far superior to that of most low-income countries andpositioned itself with a better macroeconomic policy regime to attract FDI.The Government introduced a generous program of incentives for investors.The country experienced an upward trend in FDI inflow in the early 1990s,but recently too little foreign capital has come in (Azim 1999, World Bank 2005b). In gross FDI inflows as a share of gross development product (GDP)in the 1990s, Bangladesh was 137th out of 141 countries (World Bank 2005b).
1
Senior Lecturer, Department of Management, Monash University, Australia.
2
Deputy Director, BCS Administration Academy, Dhaka, Bangladesh.
3
Senior Lecturer, Department of Management, Monash University, Australia.
Session3-1.pmd20/11/2006, 3:15 PM321

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