Abstract
This study is about the impact of selected macroeconomic variables on economic growth of Bangladesh. Economic growth of Bangladesh is measured in terms of annual nominal GDP growth rate. Least squared regression model has been employed considering exchange rate, export, import and inflation rate as independent variables and gross domestic product as the dependent variable in this study. The results reveal that export and import have significant positive impact on GDP growth rate. The other variables (exchange rate and inflation) are not significant, indicating that there exists no significant relationship among the variables. The findings will help the policy makers to make policies concerning the country’s economic growth to remain robust in the near future.
Highlights
Bangladesh will be the third fastest growing economy in the world in terms of achieving high Gross Domestic Product (GDP) in 2019
It was found that GDP is negatively correlated with exchange rate, export and inflation
The study tries to identify how gross domestic product of a country is affected by macro economic factors based on a dataset of 2009 to 2018 from secondary source -the website of Bangladesh Bank, World Bank and Bangladesh Bureau of Statistics by using least squares regression method
Summary
Bangladesh will be the third fastest growing economy in the world in terms of achieving high Gross Domestic Product (GDP) in 2019. There are many external factors which may have an effect on the country’s GDP. Among these factors, export, import, exchange rate and inflation rate have been considered in this study. High or low economic growth can be measured by calculating the gross domestic product (GDP) of the country concerned. The research objectives of this study are to determine the impact of exchange rate, inflation, export and import on GDP growth rate of Bangladesh. It is hypothesized in the study that exchange rate, inflation, export and import have significant effect on the GDP growth rate. Augmented Dickey Fuller (ADF) test is used to check stationarity of data
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