Dhaka, Dec. 26 -- Tarique Rahman's return from wildness after 17 years draws intense political attention, but economists and business leaders say the more consequential test lies in its implications for Bangladesh's disheveled political economy.

The economic milieu, they note, has been strained by persistently high inflation, weak private investment, a fragile banking system and a subdued capital market.

Against this backdrop, the acting BNP chairman's homecoming after 17 years in exile in London is being viewed by markets less as a political event and more as a signal of whether the country is moving towards greater political unity and a smoother transition of power following a credible general election scheduled for February next.

"T...