Political Economy in Procurement Perspective

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Political Economy in Procurement Perspective 

Dr. Engr. Md. Abdur Rashid

In the context of procurement, political economy refers to the intersection of political and economic factors that influence decision-making, policies, and practices in the procurement process. This perspective looks at how government regulations, policies, power dynamics, stakeholder interests, and societal influences shape procurement activities, such as sourcing, contract management, and purchasing decisions.

Key elements of political economy in procurement include:

  1. Government Policies and Regulations: The rules and laws set by governments impact procurement processes, such as rules for public tenders, transparency, anti-corruption measures, trade policies, and environmental standards.

  2. Political Influence: Political agendas can affect procurement decisions, such as favoring certain industries, companies, or geographical regions. This can lead to cronyism, corruption, or biased bidding processes.

  3. Power and Stakeholder Interests: Different groups—politicians, businesses, labor unions, and consumers—may have competing interests that affect procurement practices. Powerful stakeholders might push for decisions that benefit their own interests.

  4. Economic Conditions: Broader economic factors, like inflation, unemployment, or economic crises, can impact the availability of resources, demand for goods and services, and how procurement decisions are made (e.g., cost-cutting measures or prioritizing local sourcing).

  5. Global Trade and Market Access: Political decisions regarding international trade agreements, tariffs, and sanctions affect the global procurement landscape. Political economy also includes considerations of global supply chains, trade balances, and economic diplomacy.

In summary, a political economy perspective in procurement emphasizes how political and economic forces interact to shape procurement outcomes, considering factors like power dynamics, government influence, and economic realities.

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