Volume 9, Issue 2, April 2020, Page: 78-82
Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh
Fatema Jannat, Department of Business Administration, Noakhali Science and Technology University, Noakhali, Bangladesh
Mohammad Rubel Miah, Department of Business Administration, Noakhali Science and Technology University, Noakhali, Bangladesh
Mohammad Omar Faruk, Department of Statistics, Noakhali Science and Technology University, Noakhali, Bangladesh
Shafiqul Alam, Department of Business Administration, Noakhali Science and Technology University, Noakhali, Bangladesh
Received: Jan. 12, 2020;       Accepted: Feb. 4, 2020;       Published: Mar. 10, 2020
DOI: 10.11648/j.ijber.20200902.14      View  140      Downloads  99
Abstract
Economic growth rate plays an important role in the development of a country. Bangladesh has tremendous success to increase its economic growth rate and now it is known as the fastest-growing developing country in the world. This paper explores the important factors that influence the economic growth rate in Bangladesh. The data for the analysis is extracted from the United Nations Conference on Trade and Development from 2000 to 2015. For bivariate analysis, the correlation coefficient is measured and for multivariate analysis, multiple linear regression model is fitted. For the statistical analysis, the statistical software R program is used. The bivariate analysis shows that gross national income, export merchandise, import merchandise, foreign direct investment, population, remittance pay, remittance receive are correlated with the gross domestic product. Pearson’s correlation between GDP and balance of payment, ICT import and ICT export is found to be very low. The factors which are moderately or highly correlated with the GPD have been used in the multivariate model. The most significant factors that influence the gross domestic product is gross national income and remittance received. The study also found that export merchandise and import merchandise have a significant impact on the economic growth in Bangladesh.
Keywords
GDP, FDI, Remittance, Economic Growth Rate, Import, Export
To cite this article
Fatema Jannat, Mohammad Rubel Miah, Mohammad Omar Faruk, Shafiqul Alam, Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh, International Journal of Business and Economics Research. Vol. 9, No. 2, 2020, pp. 78-82. doi: 10.11648/j.ijber.20200902.14
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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