أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
I agree with Md. Fazlur Rahman
This is a very interesting question of Development Economics and I would like to put my views briefly. To manage a Least Developed or developing economy, the following changes are recommended.
1. First of all, put the Governance System in Place and make it functional and accountable (Executive, Judiciary, and Law enforcing agencies). This is vital and most important. Without proper Governance nothing could be achieved.
2. Invest in Education and make education accessible to all and make the Girls’ education free up to certain level. With this you will get an educated workforce (Labor in Economics)
3. Invest in Health Services so that people will get health services and will remain productive (Labor Force will remain productive)
4. Invest in Infrastructure like Power Generation, Transportation, Water Supply and Sanitation Services (Capital Investment).
Financing: Financing for investment in Education, Health and Infrastructure development is available from multilateral donors.(World Bank, Asian Development Bank, African Development Bank) on long term basis ( Thirty years+) and at a very cheap rate interest (two percent or so).
Now, educated and healthy workforce will take care of the other sectors of economy (Agriculture, Manufacturing, Services, and Financial Institutions). That is briefly all about.
Here's what I would do:
1. Cancel all government interest -bearing bonds and replace them with equity based Sukuk investment securities.
2. Change the business model of all conventional banks and force them to start being Shari^ah compliant
3. Invest in education, health and entrepreneurship-promoting programs
4. Re-introduce the gold and silver coins as real money to be used as medium of exchange instead of fiat currency.
I agree with experts answers, thanks for the invitation. .
i agree with mr.Nuridin Islam Diab
you must identify the economic system
