Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh

Fatema Jannat; Mohammad Rubel Miah; Mohammad Omar Faruk; Shafiqul Alam

doi:doi:10.11648/j.ijber.20200902.14

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Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh

Fatema Jannat, Mohammad Rubel Miah, Mohammad Omar Faruk, Shafiqul Alam

Published in International Journal of Business and Economics Research (Volume 9, Issue 2)

Received: 12 January 2020 Accepted: 4 February 2020 Published: 10 March 2020

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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.

Published in	International Journal of Business and Economics Research (Volume 9, Issue 2)
DOI	10.11648/j.ijber.20200902.14
Page(s)	78-82
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

GDP, FDI, Remittance, Economic Growth Rate, Import, Export

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APA Style

Fatema Jannat, Mohammad Rubel Miah, Mohammad Omar Faruk, Shafiqul Alam. (2020). Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh. International Journal of Business and Economics Research, 9(2), 78-82. https://doi.org/10.11648/j.ijber.20200902.14

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ACS Style

Fatema Jannat; Mohammad Rubel Miah; Mohammad Omar Faruk; Shafiqul Alam. Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh. Int. J. Bus. Econ. Res. 2020, 9(2), 78-82. doi: 10.11648/j.ijber.20200902.14

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AMA Style

Fatema Jannat, Mohammad Rubel Miah, Mohammad Omar Faruk, Shafiqul Alam. Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh. Int J Bus Econ Res. 2020;9(2):78-82. doi: 10.11648/j.ijber.20200902.14

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@article{10.11648/j.ijber.20200902.14,
  author = {Fatema Jannat and Mohammad Rubel Miah and Mohammad Omar Faruk and Shafiqul Alam},
  title = {Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh},
  journal = {International Journal of Business and Economics Research},
  volume = {9},
  number = {2},
  pages = {78-82},
  doi = {10.11648/j.ijber.20200902.14},
  url = {https://doi.org/10.11648/j.ijber.20200902.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20200902.14},
  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.},
 year = {2020}
}

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TY  - JOUR
T1  - Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh
AU  - Fatema Jannat
AU  - Mohammad Rubel Miah
AU  - Mohammad Omar Faruk
AU  - Shafiqul Alam
Y1  - 2020/03/10
PY  - 2020
N1  - https://doi.org/10.11648/j.ijber.20200902.14
DO  - 10.11648/j.ijber.20200902.14
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 78
EP  - 82
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20200902.14
AB  - 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.
VL  - 9
IS  - 2
ER  -

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Author Information

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

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Plain Text BibTeX RIS

APA Style

Fatema Jannat, Mohammad Rubel Miah, Mohammad Omar Faruk, Shafiqul Alam. (2020). Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh. International Journal of Business and Economics Research, 9(2), 78-82. https://doi.org/10.11648/j.ijber.20200902.14

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ACS Style

Fatema Jannat; Mohammad Rubel Miah; Mohammad Omar Faruk; Shafiqul Alam. Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh. Int. J. Bus. Econ. Res. 2020, 9(2), 78-82. doi: 10.11648/j.ijber.20200902.14

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AMA Style

Fatema Jannat, Mohammad Rubel Miah, Mohammad Omar Faruk, Shafiqul Alam. Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh. Int J Bus Econ Res. 2020;9(2):78-82. doi: 10.11648/j.ijber.20200902.14

Copy | Download

@article{10.11648/j.ijber.20200902.14,
  author = {Fatema Jannat and Mohammad Rubel Miah and Mohammad Omar Faruk and Shafiqul Alam},
  title = {Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh},
  journal = {International Journal of Business and Economics Research},
  volume = {9},
  number = {2},
  pages = {78-82},
  doi = {10.11648/j.ijber.20200902.14},
  url = {https://doi.org/10.11648/j.ijber.20200902.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20200902.14},
  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.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Empirical Analysis of Factors Influencing Economic Growth Rate in Bangladesh
AU  - Fatema Jannat
AU  - Mohammad Rubel Miah
AU  - Mohammad Omar Faruk
AU  - Shafiqul Alam
Y1  - 2020/03/10
PY  - 2020
N1  - https://doi.org/10.11648/j.ijber.20200902.14
DO  - 10.11648/j.ijber.20200902.14
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 78
EP  - 82
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20200902.14
AB  - 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.
VL  - 9
IS  - 2
ER  -

Copy | Download