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Determining the Impact of Economic Factors to the Gross Domestic Product in Bangladesh

Author

Listed:
  • Mostofa Mahmud Hasan

    (Department of Business Administration, EXIM Bank Agricultural University Bangladesh,)

  • B. M. Sajjad Hossain

    (Department of Business Administration, Primeasia University, Bangladesh,)

  • Md. Abu Sayem

    (Department of Statistics, EXIM Bank Agricultural University Bangladesh)

Abstract

Gross Domestic Product (GDP) is believed to be an indicator of a country s economic condition. Bangladesh s GDP increased at a pace of 8.15% in fiscal 2018-2019 as per the base year 2005-2006. By the year 2019, Bangladesh has become the seventh fastest-growing economy in the world. This paper used multiple regression analysis model for the macroeconomic factors. The aim of this study is to measure the effects of macroeconomic factors considering GDP as the dependent variables and inflation rate, import, and export are considered as independent. This paper represents that import and export are positively associated factors with GDP whereas inflation rate is a negatively associated factor. This study concluded with revealing the importance of conducting further study by considering more economic variables to measure the economic growth as a whole.

Suggested Citation

  • Mostofa Mahmud Hasan & B. M. Sajjad Hossain & Md. Abu Sayem, 2022. "Determining the Impact of Economic Factors to the Gross Domestic Product in Bangladesh," International Journal of Economics and Financial Issues, Econjournals, vol. 12(1), pages 37-40.
    • Handle: RePEc:eco:journ1:2022-01-06
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    References listed on IDEAS

    as
    1. Constantin ANGHELACHE, 2011. "Analysis of the Correlation between GDP and the Final Consumption," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(9(562)), pages 129-138, September.
    2. Tekin, Rıfat Barış, 2012. "Economic growth, exports and foreign direct investment in Least Developed Countries: A panel Granger causality analysis," Economic Modelling, Elsevier, vol. 29(3), pages 868-878.
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    Cited by:

    1. Ranjita Pandey & Dipendra Bahadur Chand & Himanshu Tolani, 2024. "Bayesian multiple linear regression model for GDP in India," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(6), pages 2170-2187, June.

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    More about this item

    Keywords

    GDP; Inflation Rate; Import; Export; Bangladesh economy;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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