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This book discusses Bangladesh’s economic and social development that may be called a “miracle” since the country has achieved remarkable development progress under several unfavorable situations: weak governance and political instabilities, inequality, risks entailed in rapid urbanization, and exposure to severe disaster risks. The authors examine what led to this successful economic development, and the potential challenges that it presents, aiming to elicit effective policy interventions that can be adapted by other developing countries.

Bangladesh --- Economic conditions. --- Economic policy. --- Social conditions. --- Economic development. --- Social change. --- Asia-Economic conditions. --- Urban economics. --- Political economy. --- Development and Social Change. --- Development Policy. --- Asian Economics. --- Social Structure, Social Inequality. --- Urban Economics. --- International Political Economy. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Cities and towns --- City economics --- Economics of cities --- Economics --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Change, Social --- Cultural change --- Cultural transformation --- Societal change --- Socio-cultural change --- Social history --- Social evolution --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic aspects --- Asia—Economic conditions. --- Social structure. --- Social inequality. --- Egalitarianism --- Inequality --- Social equality --- Social inequality --- Political science --- Sociology --- Democracy --- Liberty --- Organization, Social --- Social organization --- Anthropology --- Social institutions --- Equality.

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This study uses a choice experiment among 2,000 workers in Bangladesh to elicit willingness to pay (WTP) for job attributes: a contract, termination notice, working hours, paid leave, and a pension fund. Using a stated preference method allows calculation of WTP for benefits in this setting, despite the lack of data on worker transitions, and the fact that many workers are self-employed, which makes it difficult to use revealed preference methods. Workers highly value job stability: the average worker would be willing to forego a 27 percent increase in income to obtain a 1-year contract (relative to no contract), or to forego a 12 percent increase to obtain thirty days of termination notice. There is substantial heterogeneity in WTP by type of employment and gender: women value shorter working hours more than men, while government workers place a higher value on contracts than do private sector employees.

Choice Experiment --- Contract --- Employment Benefits --- Informality --- Job Stability --- Labor Market --- Labor Markets --- Paid Leave --- Pension Funds --- Private Sector Development --- Private Sector Economics --- Social Protections and Labor --- Termination Notice --- Wages, Compensation and Benefits --- Work and Working Conditions --- Working Conditions --- Working Hours