Appraising institutional challenges in the early stages of development

In the post-1990 period, the daughter of the former, Sheik Hasina, headed the AL, whereas the widow of the latter, Khaleda Zia, led the BNP. [...] The question then arises of whether this longevity is the result of an effective steering of the economy and the society, or of specific policies implemented by the AL, or the vanishing of the main opposition party. [...] A major institutional weakness of the banking sector is the lack of autonomy of the central bank in regard to regulating the sector, because of the clear subordinate position of the governor with respect to the government, and, through political links, private bankers. [...] The declining importance of the Indian trade and the growing importance of South Africa, especially after gold was discovered in 1860, caused the southward movement of the capital city to Lourenço Marques, which is located near the southern end of the country and positioned within 120 kilometres of the borders of South Africa and Eswatini (Swaziland). [...] Thus, if the control of the state allows privileged access to capital accumulation and juicy rents, it is conditioned by the control of Frelimo, as witnessed by the fact that the president of Frelimo almost automatically becomes the president of the republic, and the party’s candidates for parliament are appointed on the basis of blocked party lists.