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Trade Liberalization and Its Effects on the Economic Growth of Bangladesh: An Empirical Analysis

Author

Listed:
  • Majumder, Shapan Chandra

    (PhD Fellow, School of Economics, Shandong University, Shandong, CHINA; & Assistant Professor, Department of Economics, Comilla University, BANGLADESH)

  • Rana, Md. Masud

    (Lecturer, Department of Business Administration, Z.H. Sikdar University of Science and Technology, Kartikpur, Shariatpur, BANGLADESH)

Abstract

The objective of this paper is to assess the effectiveness of the trade policy on Bangladesh's economy between the periods 1990 to 2010. This research analyzes the economy's achievements regarding essential variables such as the growth of GDP, export, import, exchange rate, terms of trade, and foreign reserve after the trade liberalization in the 1990s. The study demonstrates that the inward trade liberalization policy reduces imports while the forward approach increases employment, production, and export. Finally, liberalization policy improves overall economic indicators as GDP per capita, FDI, and remittances have grown since pre-liberalization. The study shows that exports and imports have increased noticeably since liberalization, with imports rising faster than exports immediately after liberalization.

Suggested Citation

  • Majumder, Shapan Chandra & Rana, Md. Masud, 2016. "Trade Liberalization and Its Effects on the Economic Growth of Bangladesh: An Empirical Analysis," American Journal of Trade and Policy, Asian Business Consortium, vol. 3(2), pages 61-70.
    • Handle: RePEc:ris:ajotap:0094
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    More about this item

    Keywords

    Trade Policy; Trade Liberalization; Export; Import; Bangladesh;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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