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Market based development sees poor as producers/self-employed people from both formal and informal sectors, who are being excluded from the market system due to inefficient mobilization of resources and dysfunctional institutes. Of late there have been several market-led approaches among which M4P is latest and stands out for its certain ability to address power, politics and people's constraints related to market participation. The approach is based on New Institutional Economics and vividly carries the essence of Post-Washington dogma.There is no doubt that M4P approach is all about targeting and benefiting the 'bottom of the pyramid'. Given the current world of globalization and free market economy, M4P is yet a good initiative to include and address the poor with potentials. It is definitely not a panacea nor a doctrine but a framework that is set forth for a better guideline to promote and adopt inclusive market development. As poverty is a multi-dimensional phenomenon, it would understandably require multi-level strategies or approaches to address it. M4P is only one of them which deals with poor who are capable to participate in the market.
About the author
Farhan is a professional in the domain of Economic Development having years of experience in the Corporate, Non-profits and Academia. He earned his MBA from North South University, Bangladesh and MSc. Development Studies from School of Oriental and African Studies, University of London, UK.
