The complexity of the system and tendency for officials to delay or block the process encourages people to rely on informal title arrangements. But this informality weakens the security of property rights and undermines economic activity.

Bangladesh has big plans for the next five years. By the time the 50th anniversary of independence arrives, and as part of its Vision 2021 plan, the nation aspires to achieve middle-income status.

Dr. Bjorn Lomborg, the President of the Copenhagen Consensus Centre, a top ranked think tank and one of TIME magazine's 100 most influential people, shares with Amitava Kar the idea of sharpening the SDGs (Sustainable Development Goals) targets to a much smarter, more effective list.

Dr. Bjorn Lomborg is the President of the Copenhagen Consensus Centre, a top ranked think tank, and one of TIME magazine's 100 most influential people.