Toward a Blue Economy : A Pathway for Bangladesh’s Sustainable Growth
This report aims to synthesize the current theory and practice of the blue economy concept to govern economic activity linked to the ocean, and to provide a framework for the Government of Bangladesh to analyze its potential. With the peaceful reso...
| Main Authors: | , , , , , |
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| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/857451527590649905/Toward-a-blue-economy-a-pathway-for-Bangladesh-s-sustainable-growth http://hdl.handle.net/10986/30014 |
| Summary: | This report aims to synthesize the
current theory and practice of the blue economy concept to
govern economic activity linked to the ocean, and to provide
a framework for the Government of Bangladesh to analyze its
potential. With the peaceful resolution of maritime boundary
disputes with its neighbors in 2012 and 2014, the Government
has recently defined the ocean space under its jurisdiction
and prioritized its use as a key source of future economic
growth. The Government has prioritized the use of these
spaces as a key source of future growth. However, a number
of questions remain in embarking on a policy planning
process to achieve Bangladesh’s blue economy aspirations,
including measures of the current economic uses of the ocean
space, the identification of clear targets for sustainable
growth of the use of this space, and a policy pathway to get
there. Described as an economic frontier, the term “ocean
economy” applies collectively to ocean based industry
activities and the assets, goods, and services of marine
ecosystems. Ocean ecosystems provide the natural capital
inputs that combine with produced and human capital to
underpin the ocean economy.The concept of a “blue economy”
emerged in 2012 as countries around the world have grappled
with the twin trends of accelerating growth in the ocean
economy and change in the underlying ecosystems. A “blue
economy” aims for a balance between economic opportunities
and the environmental limitations of using the ocean to
generate wealth. Few documents exist to describe how
countries can transition their ocean economies toward a blue
economy, despite much discussion since 2012. This report
fills that gap by offering a conceptual framework to guide
policy-makers in Bangladesh in proposing specific reforms,
by illustrating the economic activities of the ocean economy
together with the underlying natural capital, as well as
other types of capital. The framework suggests entry points
for policy reforms to change the flow of inputs from ocean
ecosystems to the ocean economy over time, or conversely to
reduce outputs from economic activity (such as pollution)
that may impact the functioning of ocean ecosystems. The
report also synthesizes principles that may help guide such
policy reforms. Most importantly, the report summarizes the
information base needed for the Government of Bangladesh to
set realistic targets for a blue economy development pathway
and monitor progress. |
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