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On 24 April 2013, an eight-story building in Bangladesh collapsed, killing over 1,100 and injuring 2,500 more. The building, Rana Plaza, housed several garment factories, shops, and a bank. The Rana Plaza tragedy has been recorded as one of the deadliest industrial disasters in the history of the garment industry. But, did the tragedy change the how the Bangladeshi garment industry operates? Or, ... read morewas it just a road bump? To answer this question, I first discuss the various stakeholder responses in the aftermath of the Rana Plaza tragedy. After discussing the various initiatives and regulatory changes, I turn to the empirical analysis of the thesis where I analyze how the tragedy affected the local business owners, without whom effective changes are unlikely. Using the World Bank Enterprise Survey conducted in Bangladesh between April and September 2013, I analyze how the Rana Plaza tragedy affected business owners' perception of labor regulations. A shift toward a positive perspective, labor regulations as a part of the business and not an obstacle, would suggest that the Rana Plaza was a game changer. This positive perspective will reduce resistance to reform and increase the likelihood of compliance on a day-to-day basis and, hence, help prevent such tragedies in the future.read less
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