Dutch university Prof Syed Mansoob Murshed on Sunday said quality institutions are these days considered to be the sine qua non for achieving long-term economic growth and development by mainstream neo-classical economists.
Syed Murshed, professor of the Economics of Conflict and Peace at the International Institute of Social Studies (ISS), the Erasmus University of Rotterdam in the Netherlands, requested the policymakers to emphasise quality education and infrastructural development to meet the challenges of next generation.
He made the request while delivering a lecture organised by Centre for Peace and Justice (CPJ) of Brac University on Sunday at CPJ’s conference room.
Syed Murshed, also professor of Economics at Coventry University in the UK, said excessive emphasis on institutions can serve to divert attention from the global trend of rising inequality which is arguably the greatest menace to mankind at present, said a press release.
“We need to be aware of the dismal prospects for growth spurts based on manufacturing, notwithstanding the serendipitous location of countries like Bangladesh which have assisted manufacturing led economic growth,” he said.
The CPJ jointly organised the lecture with the Department of Economics and Social Sciences titled ‘Institutions and Development’.
Executive Director of Centre for Peace and Justice Manzoor Hasan moderated the discussion while Research Fellow of CPJ Dr Samia Huq and students of various departments, Brac University were present.