ISSN : 1997-1052 (Print)
2227-202X (Online)
 
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Rural Development in the Contemporary Globalized World: Boon or Bane
Md. Mizanur Rahman
Abstract

In a globalized world dynamics of rural development in Bangladesh have changed immensely. In responding to the research questions that what impact globalization has made on poverty and rural society in Bangladesh, the author wrote this paper using mixed methods. Findings relating to impact of globalization on poverty unearthed the fact that exponential increases of rice production and wages of labour employed in agriculture have contributed to reduction of rural poverty in Bangladesh. Increased agricultural growth was the end result of privatization of agricultural inputs in Bangladesh that in fact helped the farmers adopt modern agricultural practices such as use of HYV, agrochemicals, pesticides, and fertilizers. Unobstructed growth with huge remittance earning also helped reducing poverty. In tandem with reducing poverty, globalization has increased income inequality in Bangladesh. Interconnectedness with the global economic system coupled with privatization and NGO-nization has unleashed new stimuli to today’s rural life and society. The new dynamics of rural development emanated from globalization has challenged contemporary cooperative organizations and socio-cultural values in the rural society. Lastly, from both content analysis and case studies, it can be concluded that, in a globalized world, Bangladesh has no choice but to be integrated with the global economic system. Hence, the best way to deal with globalization is to coexist with it so that Bangladesh can solve its problems utilizing mutual cooperation and collaboration at regional and global levels.

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