In economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied.
The economists Richard Lipsey and Kelvin Lancaster showed in 1956, that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal.
Politically, the theory implies that if it is infeasible to remove a particular market distortion, introducing a second (or more) market distortion may partially counteract the first, and lead to a more efficient outcome.
Report on Chapter 14: CRM in E-Marketing [Elegant (VI)]Md. Abdur Rakib
Report on Chapter 14: Customer Relationship Management
(Based on the study of E-Marketing)
It is based on the Chapter: 14 Customer Relationship Management from E-Marketing book by Strauss, Ansary & Frost 4th edition.
It includes Background of CRM, CRM, CRM Benefits, CRM Building Blocks, CRM Strategy, CRM Technology & CRM Metrics in perspective of E-Marketing...
In economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied.
The economists Richard Lipsey and Kelvin Lancaster showed in 1956, that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal.
Politically, the theory implies that if it is infeasible to remove a particular market distortion, introducing a second (or more) market distortion may partially counteract the first, and lead to a more efficient outcome.
Report on Chapter 14: CRM in E-Marketing [Elegant (VI)]Md. Abdur Rakib
Report on Chapter 14: Customer Relationship Management
(Based on the study of E-Marketing)
It is based on the Chapter: 14 Customer Relationship Management from E-Marketing book by Strauss, Ansary & Frost 4th edition.
It includes Background of CRM, CRM, CRM Benefits, CRM Building Blocks, CRM Strategy, CRM Technology & CRM Metrics in perspective of E-Marketing...
A detail analysis of motor cycle industry in Bangladesh. First, market research in motor cycle industry in Bangladesh. Use market research analytical tools to get realistic, detail picture of the market.
A report on supply chain of agora in bangladeshManas Saha
Rahimafrooz Superstores Ltd. launched Agora the first ever retail chain in Bangladesh in 2001. Agora promises a valuable shopping experience that provides quality and fresh products at the right price. It aims to consistently provide a remarkably satisfying and valuable shopping experience through a business that improves the quality of life for customers and team members.
Fantasy Kingdom Amusement Park
Fantasy Kingdom brings a little bit of Disneyland to Bangladesh. It is one of the most spectacular amusement parks in the country and has become a great tourist attraction in Dhaka. South Asia had never before experienced an amusement park of such a grand scale and it took the creativity, dedication and commitment from hundreds of workers, artists and sculptors to bring this world of entertainment and thrills to life.
In economics, the cycle of poverty is the “Set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention“. The poverty cycle can be called the “Development trap" when it is applied to countries.
Bangladesh is a country of a thousand rivers, large and small, and most of its territory is regularly flooded during the monsoon season. This fact makes it extremely difficult and expensive to build modern transportation and communication networks. The river boats and ferries traditionally used for transportation are cheap, but slow and inefficient. The situation is further complicated by the fact that the Bangladeshi government has sharply limited resources not only for building new infrastructure but also for maintaining the existing one. From the colonial era Bangladesh inherited underdeveloped and unevenly distributed infrastructure and transportation networks. Poor and inefficient infrastructure undermined the economic development in the country, and only recently has the government been able to address the problem systematically and channel investments towards expanding its highways, railroads, seaports, and airports. More recently, with international assistance the government has also started to modernize its telecommunications infrastructure and introduce the Internet.
1) Explain how political obstacles (lack of skilled officials, insta.pdfjibinsh
1) Explain how political obstacles (lack of skilled officials, instability, corruption, and constaints
by special interest groups) and cultural obstacles (cultural attitudes that discourage
entrepreneurial activity and and encourage rapid population growth) are greater barriers to
economic growth than lack of technology, education and natural resources.
(2) Many people blame special interests of developed nations for supporting political regimes
and cultural norms that prevent the success of developing nations. Explain why this might be true
and in your own words agree or disagree with this statement. Try to give a specific example of a
nation (Haiti, Iraq, Pakistan, Sudan, Zimbabwe or any example in the past).
Solution
There are many barriers and difficulties in the way of economic growth and development of less
developed countries. Development for developing nations is desirable but not achievable due to a
lot of hurdles. These obstacles are grouped into the following five categories:
A. Economic Obstacles
B. Social Obstacles
C. Cultural Obstacles
D. Political Obstacles and
E. Administrative Obstacles
Economic Obstacles:
Economic and financial barriers: Economists observed that the dominating development
model tends to focus on economic growth as precedence rather than people\'s rights or welfare,
and environmental processes and limits. This requires a shift in the worldview from treating the
environment as part of the economy to treating the economy as part of the environment;
strategically this means the economy should be adapted to ensure environmental services are
maintained.
Innovational Barriers: In the educational sector there is a lack of innovation-oriented research.
This means that there has to be a closer connection between research institutes and the economy,
which would also overcome problems concerning the knowledge transfer to applications in real
life.
Political Obstacles:
There is political instability in Pakistan; the policies of the government are also instable. Due to
political instability, rate of economic growth and development remains low in all the sectors of
the economy. Investors feel hesitation while making investment if political situation is not stable.
Mis-use of Authorities
Mis-use of authorities and powers is a big problem in the way of economic development. Mis-
use of authority leads to corruption and nepotism. Accordingly, there is no regard for talented,
intelligent and brilliant brain.
In our country, use of authorities is not reasonable. Officers use their powers for their
personal interest. They give first preference to their own benefits and second preference to the
public welfare.
Insincere Leaders
Politics in Pakistan creates insincere leaders. Political leaders have no interest with the welfare of
population but their own interest. In Pakistan rich industrialists join politics to safeguard their
industries. The Feudals involve in politics for the sake of status and power.
Changes in Fiscal Policy
I.
Causes of poverty in world A Lecture by Mr Allah Dad Khan Former DG Agri Ext...Mr.Allah Dad Khan
Causes of poverty in world A Lecture by Mr Allah Dad Khan Former DG Agri Extension KPK/Visiting Professor the University of Agriculture Peshawar Pakistan
WOMEN IN THE ECONOMY: A REVIEW OF RECENT LITERATURE GREATER ACCESS TO TRADE E...Dr Lendy Spires
This report was prepared by the Greater Access to Trade Expansion (GATE) Project, a task order funded through the U.S. Agency for International Development’s (USAID) Office of Women in Development (WID). For many years gender equality has been acknowledged as an important policy issue in institutions from the World Bank and the United Nations to non-governmental organizations (NGOs). USAID has led efforts to integrate gender issues into development programs for many years. The USAID approach, designing programs that take both women's and men's participation into account, results in more effective development programs.
Despite the attention the issue has received, policies and programs to achieve gender equality are often sidelined. Given the importance of women as individuals, economic agents, and caretakers of families and communities, issues of gender equity must be central to discussions of growth, development, and economic policies. Drawing attention to the numerous aspects of gender inequality that limit women’s full participation in “productive” activities, this literature review investigates the role of women in the economy and why the inclusion of gender issues is not only beneficial, but also crucial to the success of economic development programs. The study focuses on the constraints encountered by women and how gender analysis can inform policy prescriptions as well as program activities; where possible best practices have been highlighted.
Section One examines women’s unique position within the economy, highlighting issues of asymmetrical rights and responsibilities, time poverty, and differential participation and access to labor markets. Section Two reviews lessons learned on the distortions caused by gender inequality and the benefits gained from women’s economic participation. Section Three argues for the necessity of addressing the gender dynamics which shape the opportunities and responses to market and development policies. Section Four provides illustrative examples of gendered responses to trade liberalization. The final section concludes and presents recommendations.
This is a group presentation on chapter 16 & 17 from text book of Agricultural Marketing course. It is prepared by group Elegant (VII).
Chapter 16: Market Information & Chapter 17:Standardization & Grading
MBA Internship Report on "Market Study of the Lighting Industry in Bangladesh & Marketing Strategy for New Nation Lighting Ltd."
This report is solely prepared by Md. Abdur Rakib that is me. It was prepared on the purpose of MBA Internship Program under MBA Program for the Marketing 14th Batch, University of Dhaka.
Marketing Research Report Proposal [Elegant (VI)]Md. Abdur Rakib
Marketing Research Report Proposal on “Customers’ Perception towards Imported Cosmetics & Preference towards Different Brands of Shampoo”.
It is prepared by Elegant (VI) group
Report On “Customers’ Perception towards Imported Cosmetics & Preference towa...Md. Abdur Rakib
Report on “Customers’ Perception towards Imported Cosmetics & Preference towards Different Brands of Shampoo”. It is based on the Study of Advanced Marketing Research course study.
The report is prepared by Elegant (VI) group.
Report on Strategic Marketing Chapter Review [Elegant (VI)]Md. Abdur Rakib
The report is made on the chapter reviews from the strategic marketing book 9th Edition by David W. Cravens & Nigel F. Piercy. 12 chapters are taken for making reviews for the report.
It is prep[ared by Elegant (VI) group, Section: A, Marketing 14th batch, Faculty of Business Studies, University of Dhaka.
Report on Marketing Plan for Sustainable Eco Ideas, Designs, Architectures & ...Md. Abdur Rakib
Report on Marketing Plan for Sustainable Eco Ideas, Designs, Architectures & Installations Services based on the study of Marketing Management. The report is prepared by Elegant (VI) group of Marketing 14th batch A section.
Presentation on Business Plan on UNISTORE, a Retail Superstore [Elegant (VII)]Md. Abdur Rakib
This a presentation on Business Plan for UNISTORE, a Retail Superstore prepared by group Elegant (VII)
Based on the study of Business Plan under CRM course.
Report on Business Plan on UNISTORE, a Retail Superstore [Elegant (VII)]Md. Abdur Rakib
This is a Report on Business Plan on UNISTORE, a Retail Superstore prepared by group Elegant (VII).
To introduce a new era of business module in Bangladesh, we 7 friends are going to establish a retail superstore named UNISTORE, a unique, universal and versatile sales floor. It generally provides almost every kind of consumer goods. To make it successful we have chosen both developed and developing regions of Dhaka city but we will inaugurate 1 outlet initially. Our form of organization will be general partnership.
Since we will pose general partnership we ourselves will serve every kind of management functions. Besides, we are highly experienced and linked with various financial organizations which will help us getting loan and monetary backup. We have a few other strengths which are more enough to drive our weaknesses. Moreover, we have corporate lobbying so that we can acquire strategic and competitive advantage.
On the other hand, we have a unique value proposition “Buy green, live green” so that customers can use products in an environment friendly manner. We will not only sell quality products and services but also values and trust. Thus, we would like to capture 22% market share within 2 years. We consider some of our basic characteristics as a criterion of becoming successful in the market environment.
We are the first to start a superstore including almost all kinds of variety goods.
Almost every kind of consumer goods and services will be available in our sales floor.
E-Marketing (Electronic Marketing) system.
Skillful, devoted, friendly, and committed employees.
Strategic partnership with various banks, leasing companies and insurance companies.
Corporate lobbying which provides opportunity to supply materials for employees.
We shall require tk. 85.67 crore or 856.7 million tk. as our total cost of business set up. We shall count on investors on our business & loans from various sources which will be paid in different periods. Our business plan is focused on long term planning to capture a huge market share and eventually become market leader and dominant in this sort of businesses.
Presentation of the article "Integrated Marketing Communications in U.S. Advertising Agencies: An Exploratory Study"
It is taken from September-October 1997 Journal of Advertising Research...
Summary of the article "Integrated Marketing Communications in U.S. Advertising Agencies: An Exploratory Study"
It is taken from September-October 1997 Journal of Advertising Research...
Report on "Amra Bangali" A Nonprofit Organization [Md. Abdur Rakib]Md. Abdur Rakib
This is a Report on "Amra Bangali" A Nonprofit Organization for children & elderly people.
It includes "Amra Bangali" mission, vision, background, markets, activities, fund Raising, volunteers, segmentation & targeting, positioning, problems & recommendation...
Presentation on Chapter 14: CRM in E-Marketing [Elegant (VI)]Md. Abdur Rakib
Presentation on Chapter 14: Customer Relationship Management
(Based on the study of E-Marketing)
It is based on the Chapter: 14 Customer Relationship Management from E-Marketing book by Strauss, Ansary & Frost 4th edition.
It includes Background of CRM, CRM, CRM Benefits, CRM Building Blocks, CRM Strategy, CRM Technology & CRM Metrics in perspective of E-Marketing...
Report on Business Marketing Research on JMI, a B2B Market [Elegant (VI)]Md. Abdur Rakib
This is a Report on Business Marketing Research on JMI, a B2B Market. It is based on the study of Business Marketing.
Surgical Device market in Bangladesh has great prospect for the local manufacturer of surgical device. More than 30,000 surgical devices are available in Bangladesh. Almost all devices are exported from foreign country. So we can tell surgical device market as the unexplored B2B market. Only four major companies are providing surgical devices in Bangladesh. If the companies manufacture more surgical device then it generate huge profit to them. It also creates more empowerment and also contributes to our national economy.
JMI syringe & Medical Device Company Ltd. has various kinds of surgical product, although it is very difficult and risky for surgical device provider to develop new product, JMI has eleven products. The company‟s age is not very old in comparison of its competitor. But still the companies are doing well in surgical device market in Bangladesh. They are ranked as 2nd as the comparison of its competitor Opso saline.
JMI Syringe & Medical Device Limited has received tremendous response by institution buyer and dealers. Institution buyers have gained confidence in their products for quality and economics. This business shows considerable promise in contributing to the national economy of Bangladesh. This report focuses on JMI‟s syringe & other medical devices their various strategies, promotional activities, and their position in the market in comparison to the market leader “Opso Saline” and so on.
JMI charges cost plus pricing for some of his products and for unique product like AD syringe and urine drainage bag they charges skimming pricing. They have also promotion strategy like other surgical device company in Bangladesh. The promotion campaign is inspiring the doctors and their patient to use safe syringe, attending different seminar, fair related to pharmaceutical product. But due to the Govt. prohibition they can‟t promote their product by the mass media.
Waste Management & Recycling Services Report on Service Marketing [Elegant (II)]Md. Abdur Rakib
Report On Waste Management & Recycling Solution Services
(Based on the Study of Service Marketing)
It includes Waste Hauling & Management of Logistics,Recycling, reuse,Recover Energy-From-Waste,Renewable Energy Products,The Gap Model,Consumer Behavior in Waste Management & Recycling Solution Services,Customer Expectation of Services,Customer Perception of Services,Building Customer Relationship with the Company,Service Development and Design...
Global Marketing Chapter 3 : Cultural Foundations [Elegant (V)]Md. Abdur Rakib
The report include the last part Chapter 3: Cultural Foundations from Global Marketing Book by Jhonny K. Johansson. Global culture, culture across countries,global culture,global marketing,meaning of culture,self-reference criterion,silent language,SRC are the discussion topic
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Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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2. 1
Assignment
On
Marketing Management (Course: 511)
Topic: Market Imperfections in Bangladesh & Its Solution
Prepared for:
Dr. Belayet Hossain
Professor
Department of Marketing
Faculty of Business of Studies
University of Dhaka
Prepared by:
Md. Abdur Rakib
Roll No: 041
Section: A
Department of Marketing (14th
)
University of Dhaka
Date of Submission: 26th
November, 2012 eng.
3. 2
What are the major causes of market imperfections in Bangladesh? How can
this be solved? Apply your judgments.
Market Imperfections:
Market imperfection is a concept describing when the allocation of goods and services by a free
market is not efficient. That is, there exists another conceivable outcome where a market
participant may be made better-off without making someone else worse-off. Market
imperfections can be viewed as scenarios where individuals' pursuit of pure self-interest leads to
results that are not efficient – that can be improved upon from the societal point-of-view. It is the
failure of a market to provide the socially optimal output. The entire market system provides a
sub-optimal mix of goods and services. The information is not quickly disclosed to all
participants in it and where the matching of buyers and sellers isn't immediate.
An understanding of market imperfections and its sources is important because these are the
cases under which government intervention into the market is potentially justified on economic
grounds
Market imperfections are often associated with information asymmetries, non-competitive
markets, principal–agent problems, externalities, or public goods. The existence of such situation
is often used as a justification for government intervention in a particular market. However, some
types of government policy interventions, such as taxes, subsidies, bailouts, wage and price
controls, and regulations, including attempts to correct market problems, may also lead to an
inefficient allocation of resources, sometimes called government failure. Thus, there is
sometimes a choice between imperfect outcomes, i.e. imperfect market outcomes with or without
government interventions.
4. 3
Market Imperfections in Bangladesh:
Imperfections in rural labor markets, particularly interlocking of labor markets with land, credit,
and product markets, has traditionally been viewed as a crucial constraint on income and
employment of rural labor households. For least developed economies like Bangladesh,
challenges to domestic policies arise from multilateral, regional and bilateral ... The global
market imperfection further skews the trade gains on account of supply side constraints,
resources and so on. Credit market imperfections, the degree of imperfection has declined over
time as rural credit has been made more readily. Growth patterns for children in landless
households were influenced by credit market imperfections. Labour market imperfections need
to be seen in the context of product market imperfections. In country like Bangladesh structural
weaknesses and market imperfections inhibit the free play of market forces.
5. 4
Major Causes of Market Imperfections:
1. Monopoly Power:
Monopoly results in a smaller output and a higher price when compared to perfect
competition. Less than the socially optimal output is provided. The deadweight or social loss
is due to monopoly. This deadweight loss is simply the excess of value over cost for those
units that would be produced under perfect competition but are not produced because of
monopoly. Bangladesh has not only lost their monopoly in the world market but are also
facing strenuous situation. Moreover, the problems revolving around the jute trade is
assuming alarming proportions for Bangladesh in the recent years. There have been a
problem related to raw materials, finance and product demand/market. Due to poor
transportation or monopoly distribution, resources are unavailable or inaccessible.
Causes of
Market
Imperfections
Monopoly
Power
Externalities
Public
Goods
InequityDeregulation
Globalization
Information
Asymmetries
6. 5
Traditionally, imports of food grains in Bangladesh have been the domain of public
monopoly.
2. Externalities:
An externality is produced when all of benefits or costs of an economic decision do not
accrue to the decision maker. Someone makes a decision and someone external to that
decision is affected. An externality can be positive so that someone external to the decision
benefits or an externality can be negative so that a cost is imposed on someone who is not a
party to that decision.
External costs in consumption generate passive results. External cost in production such as
environmental pollution in Bangladesh is generated mostly in the production of many goods.
3. Public Goods:
The distinguishing characteristic of a public good is not the sector that provides the good.
Some public goods are provided by the private sector and many private goods are provided
by the public sector. National defense services of security, TV or radio broadcast, highways,
libraries and parks are example of public goods.
Considering Bangladesh's history of tumultuous politics, the country is gradually improving
in terms of political stability and governance. Unfortunately, development has not been
stable, mainly due to political will and commitment. Democracy and governance in
Bangladesh, still plagued by violence, corruption, outdated laws, abuse of human rights,
absence of rule of law, non-accountability, and heavy politicization of all government
institutions including the judicial system. It is observed that we need strong political
leadership with commitment to fight against deep rooted corruption, non-accountability, non-
transparency and inefficiency is imperative for establishing good governance and to ensure
sustainable development. Keeping all these issues in consideration, this research paper
discusses governance and good governance related issues and sustainable development. It
also provides a set of recommendations based on this analysis. The study is explanatory in
nature which is based on extensive literature review and secondary sources.
7. 6
4. Inequity:
If the underlying income distribution is inequitable then the market distribution of goods and
services will also be inequitable.
Regional inequity is a growing concern in Bangladesh. Bangladesh during the pre-
independence period experienced serious regional inequity. Policy actions to address regional
inequity require information about the nature, extent and trends in regional inequality. An
attempt is made in this paper to analyze regional inequality in Bangladesh. Regional inequity
may be analyzed on issues related to growth, income inequity and poverty.
There is variation among districts in terms of growth in agriculture and total GDP. Results
indicate that level of agricultural growth and share of non-farm household in the district have
significant contribution to the overall growth of the district overall growth of the economy of
Bangladesh depends to a large extent on the performance of its agriculture sector.
Agricultural growth depends on the growth rates of its subsectors. Growth rates in service
sector of the district also have positive and significant effect on the level of agricultural
growth. Human Poverty Index (HPI) has significant negative impact on agricultural growth
indicating that districts with high human poverty (in other words low human capital)
achieved lower level of agricultural growth.
Share of income from agriculture to the total income has declined over time but share of
business and commerce and professional wages and salary has increased (Table 22). In rural
areas also share of income from agriculture declined and share of non-farm income sources
has increased over time.
Higher the level of initial income, higher the level of current per capita income and higher
GDP growth, higher per capita income in the district. Proportion of landless household had a
significant negative effect on per capita income level. This is quite obvious due to the fact
that districts with large number of families (with most production income generating asses,
land) had lower level of per capita income. One implication of these findings is that to raise
the average income level of this negative and particularly for the landless community.
Government must take actions so that less endowed people can have greater access to new
productive assets such as solar dryer, power tiller, power pump, harvester, thresher, etc.
8. 7
Bangladesh would require allocation for development projects so that less fortunate can
effectively take advantage of those. The issues of access to new productive assets are also
important to this end.
5. Deregulation:
We have few deregulated industries such as a few financial sectors, electric utilities etc. The
impact of trade liberalization and of market deregulation in general, on the performance of
agriculture remains contentious and empirical issue in the literature. Due to de regulation
there is an outcome of growing concerns around the world about the prevailing inefficiencies
in agriculture and agribusiness and the need to improve productivity, profitability, and
financial sustainability of agriculture and agribusiness by privatizing state- owned enterprises
and eliminating unnecessary government regulations.
6. Globalization:
The forces of globalization have produced rapid social change, often marked by more inter-
and intra-regional disparity, environmental and ecological crisis, social disintegration,
violence and conflict. In other words, for many poor countries the forces of globalization
have produced enormous social suffering. Other local factors, such as, population increase,
further aggravate the magnitude of social suffering. In the case of Bangladesh, the problems
of landlessness, impoverishment and consequent rural out-migration are compounded by
environmental hazards as well as environmental degradation caused by economic and other
development activities. Natural hazard induced population displacement is endemic in
Bangladesh. One specific and central impact of globalization is the massive turn to a wage-
labour economy.
Trade liberalization and privatization created social insecurity and aggravating,
unemployment, underemployment. Most of the privatization and closure of industries
resulted in huge retrenchment. Fall in the aggregate demand for labour has accelerated
declination of wage. Real wage declined due inflation and currency market deregulation
it is difficult for them to keep up the competitive advantages compared to imported goods.
Inequalities increased in the country during the period of rapid globalization.
9. 8
7. Information Asymmetries:
Information asymmetries are important in theory but difficult to identify in practice. We
estimate the empirical importance of adverse selection and moral hazard in a consumer credit
market using a new field experiment methodology derived from theoretical models. a
dynamic repayment incentive that extends preferential pricing on future loans to borrowers
who remain in good standing. These three randomizations, combined with complete
knowledge of the Lender's information set, permit identification of specific types of private
information problems.
10. 9
Solutions to Market Imperfections:
1. Monopoly Power:
Monopoly power can be solved the following ways.
Making the monopoly more competitive– antitrust policy: The antitrust laws allow the
government to prevent monopoly by preventing anticompetitive mergers. The laws
restrict behavior that is deemed to be anticompetitive.
Regulating the behavior of the monopoly: Price regulation is commonly used to address
the problem of natural monopolies such as water and electric companies.
Public ownership: The incentive structure can impacted by public ownership
2. Externalities:
The problems of externalities can be resolved the following ways:
More completely defined property rights: In the case of an external cost, imposing a per
unit tax equal to the amount of the externality will correct the problem.
Subsidies or taxes: Rather than subsidizing the consumer, a subsidy to the producer
would work. A tax on either side of the market will work.
3. Public Goods:
The market can sometimes solve the free rider problem, allowing market provision of the
pure public good. But the good is likely to be under provided often no provision would occur.
In the case of an excludable public good, those who don’t contribute will generally be
excluded if the good is provided by the private sector. Because the marginal social cost of
extending the benefits to another person is zero, this is inefficient.
4. Inequity:
The attempt to address inequity through the market system may cause more problems than it
solves. The government must now address the surplus. An equitable distribution of resources
may require more than income transfers. Merit Good- a good or service to which society
11. 10
deems everyone is entitled in some amount. Government intervention may be required to
ensure that these standards are met. Following are some solutions:
Analyze the nature, extent and trends in growth, poverty and income inequality in
Bangladesh.
Examining & exercising relationship between economic growth, income inequality and
poverty in Bangladesh.
Provide some policy suggestions to foster growth, reduce income inequality and poverty
in Bangladesh.
5. Deregulation:
The efficiency differentials are largely explained by farm size, infrastructure, households' off-
farm income and the reduction of government anti-agricultural bias in relation to trade and
domestic policies. The implication of these results suggests the need for further policy reform
to augment productive efficiency.
6. Globalization:
Voice of the common workers, collective awareness and participatory management of trade
unions at various levels are the three main processes for the improvement of trade union
governance. The existing practice of centralized governance of trade unions has largely
contributed to the major failures in the labour processes in Bangladesh. The Government
should encourage and promote the conditions for social dialogue at the enterprise level as an
increasingly more important part of a dynamic industrial relation system. Increasing mobility
of goods and capital allows such obstacles to be readily circumvented, thereby prompting the
trade union movement to adopt a global approach.
7. Information Asymmetries:
Theoretical models of private information, and thereby permits identification of unobservable
selection and moral hazard effects. The improvements of telecommunication industry can
have a great impact to resolve the information asymmetries.
12. 11
Conclusion:
In Bangladesh, the increase in domestic prices was substantial, but still less than the increase in
world prices; the explanation here is that net exports for Bangladesh are bound at zero due to
market imperfections. Deregulations, privations, monopolistic situation, poverty, unequal
distribution of income etc. are influencing the market situations a lot. Besides, political unrest,
globalization, rapid information flow are also having a great impact on its economy and thus
create market imperfections. Government as well as the firms must come forward to solve this
problem as quickly as possible to develop our economy. Government intervention is itself costly
& may not be worth it. The solution may be politically infeasible. However, the solution must be
implanted to have an impact.