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Labor Force Participation Rate and Economic Growth: Observations for Bangladesh

Author

Listed:
  • Ahasan Ul Haque

    (Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh)

  • Golam Kibria

    (Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh)

  • Muhaiminul Islam Selim*

    (Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh)

  • Dilruba Yesmin Smrity

    (Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh)

Abstract

The study investigates the relationship between the labor force participation rate for both male and female, gross fixed capital formation, and economic growth in Bangladesh using the annual time series data from 1991 to 2017. The results find two bidirectional nexus that one is between total labor force participation and economic growth and second is between gross fixed capital formations and economic growth whereas the findings also show a unidirectional causal association from female labor force participation to economic progress for Bangladesh. The study also finds that both total labor force participation and female labor force participation have short-run positive significant effects on the economic development for Bangladesh but adverse effects in the long run. On the contrary gross fixed capital formation contains short term significant negative indication on the economic growth but has an explicit positive considerable impact on the economic development of Bangladesh. The government of Bangladesh needs to give more importance in technical education format that will produce more skilled labor.

Suggested Citation

  • Ahasan Ul Haque & Golam Kibria & Muhaiminul Islam Selim* & Dilruba Yesmin Smrity, 2019. "Labor Force Participation Rate and Economic Growth: Observations for Bangladesh," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 5(9), pages 209-213, 09-2019.
    • Handle: RePEc:arp:ijefrr:2019:p:209-213
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    Cited by:

    1. Muntasir Murshed & Haider Mahmood & Tarek Tawfik Yousef Alkhateeb & Mohga Bassim, 2020. "The Impacts of Energy Consumption, Energy Prices and Energy Import-Dependency on Gross and Sectoral Value-Added in Sri Lanka," Energies, MDPI, vol. 13(24), pages 1-22, December.
    2. Muhammad Ibrahim Shah, 2021. "Investigating the Role of Regional Economic Integration on Growth: Fresh Insights from South Asia," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 13(1), pages 35-57, January.
    3. Hamizah Abdul Halim & Nor Hidayah Harun & Mohd Shahidan Shaari & Noorazeela Zainol Abidin, 2020. "The Effects of Capital, Labor and Electricity Consumption on Economic Growth in Malaysia," International Journal of Energy Economics and Policy, Econjournals, vol. 10(6), pages 305-309.
    4. Chen, Shengming & Hassan, Muhammad Shahid & Latif, Ayesha & Rafay, Abdul & Mahmood, Haider & Xu, Xiaowei, 2023. "Investigating resource curse/blessing hypothesis: An empirical insights from Luxembourg, the Netherlands, and Portugal economies," Resources Policy, Elsevier, vol. 83(C).

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