Economist Debapriya Bhattacharya has highlighted Bangladesh's shift from crony capitalism to kleptocracy under the previous government, calling it the most intriguing finding of a recently published white paper on the economy.
"Kleptocracy occurs when the authority of the state -- be it the legislative body, the executive branch, or the judiciary -- is entrusted to certain entities that form a coalition for systematic looting," Bhattacharya said.
Bhattacharya, who led the team behind the white paper, shared these insights during a press conference at the Planning Commission in the capital today.
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