Abstract
Purpose: Gross Domestic Product(GDP) depends on Agriculture, Service, and industry performance. The main aim of the study is to assess the relationship between dependent variable GDP and Independent variables agriculture, industry, and service sector by using the n-variable Regression Model at initial condition. Design/Methodology/Approach: The study is an application of the n-variable Regression Model at the initial condition to analyze the situation of GDP along with reasons not becoming zero GDP even after using the initial condition. The secondary data of the GDP of Nepal from the Central Bureau of Statistics of 10 years till 2019/20 has been analyzed. By finding cofactors of correlation coefficient matrix, Mean and standard deviation of the individual data to establish the linear relationship between dependent and independent variable. Findings/Result: Under initial conditions, if all the independent variables zero, the GDP is −751028.431 billion, negative sign shows that GDP decreases highly if the entire major factor has no role in GDP. It is non-zero GDP. It means in the 11th year the stated amount will be expended from the previous year saving for forex to import which will not be possible in a sustainable economy. It will not be possible in real conditions however it may be hypothetical possible either because of the impact of informal economy or disinvestment or negative net exports. It is significant for forecasting the future GDP of a country effectively assuming different conditions for policy formulation. Originality/Value: It is the first empirical research using the n-variable Regression Model for GDP Analysis. Paper Type: Analytical Policy Research
Highlights
The Bureau of Economic Analysis (BEA) gives a clear definition for GDP: ‘Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production
The main aim of study is to assess the relationship between dependent variable GDP and Independent variables agriculture, industry and service sector by using n-variable Regression Model at initial condition what is the situation of GDP and why GDP not became zero even after using initial condition
Linear Relationship between Agriculture, Industry, Services and GDP The association that we have in method and methodology is used to interpret and analyse the data taken from source of bureau of statistics is as given in table 1
Summary
The Bureau of Economic Analysis (BEA) gives a clear definition for GDP: ‘Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production. The proportion of GDP to the absolute populace of the particular political boundary is the per capita GDP and the equivalent is called Mean Standard of Living which depends largely on Agriculture as it is main source of income for most of people in Nepal. In 2019, a little more than 50% of Nepal's total national output comes from service area. Movements of foreign aid in Nepal is significant for GDP and need to reform internal sources for the sustainable development of Nepal (Mishra and Aithal, 2021) [3]. Chaudhary and Mishra (2021) [6] has Development of n-variable Regression Model which is a highly applicable technique to show the predictor and estimator can predict and estimate the impact of dependent variable on independent variables. The process of finding the mathematical function which describe the relationship between a dependent variable and one or more independent variable in regression analysis
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