인도·남아시아

The purpose of this paper is to review the theoretical insights and empirical evidence on agricultural trade policies and their impacts on the Bangladesh’s economy, with a view to presenting both, the positive and negative effects of trade liberalization. Theoretically, while advocates of trade liberalization argue that free trade is an engine of growth and protection leads to wasteful use of resources, critics argue that openness has its costs and sometimes it could be detrimental to the economic development. The empirical evidence in Bangladesh was consistent with the ongoing debate on the effects of trade liberalization on economic development. The evidence remained mixed and loaded with criticisms on the grounds of choice of liberalization determinants, model specifications and methodology, as well as other measurement shortcomings. The review suggests that the literature is inconclusive and outcomes are largely case-specific