Economy Of Bangladesh Research Articles

Retrofitting passive cooling strategies to combat heat stress in the face of climate change: A case study of a ready-made garment factory in Dhaka, Bangladesh.

The ready-made garment industry is critical to the Bangladesh economy. There is an urgent need to improve current working conditions and build capacity for heat mitigation as conditions worsen due to climate change. We modelled a typical, mid-sized, non-air-conditioned factory in Bangladesh and simulated how the indoor thermal environment is altered by four rooftop retrofits (1. extensive green roof, 2. rooftop shading, 3. white cool roof, 4. insulated white cool roof) on present-day and future decades under different climate scenarios. Simulations showed that all strategies reduce indoor air temperatures by around 2 °C on average and reduce the number of present-day annual work-hours during which wetbulb globe temperature exceeds the standardised limits for moderate work rates by up to 603 h - the equivalent of 75 (8 h) working days per year. By 2050 under a high-emissions scenario, indoor conditions with a rooftop intervention are comparable to present-day conditions. To reduce the growing need for carbon-intensive air-conditioning, sustainable heat mitigation strategies need to be incorporated into a wider range of solutions at the individual, building, and urban level. The results presented here have implications for factory planning and retrofit design, and may inform policies targeting worker health, well-being, and productivity.

Small-Scale Fishing Community of Haor Areas: What Matters to Them

Small-scale fishing communities in haor areas are among the most vulnerable to climate change and poverty. The aim of this study is to investigate the context of small-scale fishing communities in Sunamganj and nearby regions in terms of climate change and poverty. Haor regions are critical to the Bangladeshi economy, and many of people rely on them for a living. Small-scale fishing communities in Sunamganj are regarded the most vulnerable among the populations who live in haor regions because they are socially disadvantaged, undereducated, lack market access, have the identity of a working-class community, and have no notion how to change their fortunes. Due of climate change, the environment in many locations is changing, and as a result, the supply of fish is diminishing year after year. Additionally, the regular flash floods in these locations leave the fishing population vulnerable owing to restricted access to basic supplies. These factors contribute to the impoverishment of the small-scale fishing community and its decline into the vicious cycle of poverty. Also, they have limited access to tools and other sources of money that may aid them in escaping poverty. Hence, even if they tried, they couldn't escape their predicament of poverty. As following objectives, we offered a number of government initiatives, additional revenue streams, and local infrastructure restoration.

An Analysis of the Challenges and Prospects of Bangladeshi Manpower in Overseas Employment

Since its independence, Bangladesh has supplied millions of its skilled and unskilled manpower to hundreds of countries, which, in turn, has positively influenced the domestic labour market and GDP growth. Remittances coming from migrant workers have immensely contributed to the micro and macro economy of Bangladesh. Studies show that the rising flow of overseas employment due to labour shortage in numerous developed and developing countries after the pandemic has generated both opportunities and challenges for Bangladeshi manpower. This study found that there are inflated demands for skilled and professional workers all over the world. However, Bangladesh is still unable to supply expected quality workers foreign individuals, companies and countries have demanded. The reasons behind this, our study found, are insufficient government initiatives, recruitment agencies failure, not having enough opportunity for training and education and lack of awareness among workers as well as syndicate issues and illegal migration. This study suggests that addressing the above-mentioned issues could help the respective authorities perpetuate the rising flow of foreign employment of Bangladeshi manpower.

Financial Inclusion: Factors Influencing on Customer Adoption of Mobile Banking Services in Bangladesh

Rapid growth in mobile banking has prompted banks to invest in mobile banking in Bangladesh.  This study identifies the factors that are influencing the customer adoption of mobile banking in Bangladesh. The theories of A cognitive theory, the theory of reasoned action (TRA), and the Technology Acceptance Model (TAM) have been selected as the baseline theories. 320 questionnaires were sent to the customers of Bangladesh's leading mobile banking companies, 315 are returned, but 300 are usable for the analysis. This study found that perceived risk, relative advantage, trust and convenience influence individual tendencies to embrace mobile banking in that order. Reliability test, correlation, and multiple regression analysis were used after entering the data into SPSS. Each variable used a 5-point Likert scale. The findings of this investigation will have major consequences for the economy of Bangladesh, particularly with regard to the financial sector and have also substantial consequences for policymakers and bank management to develop their financial plans and policies in order to increase participation in and success within the Bangladeshi banking industry.

The economic influence of climate change on Bangladesh agriculture: application of a dynamic computable general equilibrium model

PurposeEvaluating the economic effects of climate change is a pivotal step for planning adaptation in developing countries. For Bangladesh, global warming has put it among the most vulnerable countries in the world to climate change, with increasing temperatures and sea-level rise. Hence, the purpose of this paper is to examine how climate change impacts the economy in Bangladesh in the case of climate scenarios.Design/methodology/approachUsing a dynamic computable general equilibrium (CGE) model and three climate change scenarios, this paper assesses the economy-wide implications of climate change on Bangladesh’s economy and agriculture. It is clear from the examination of the CGE model that the impacts of climate change on agricultural sectors were felt more sharply, reducing output by −3.25% and −3.70%, respectively, and increasing imports by 1.22% and 1.53% in 2030 and 2050, compared to the baseline.FindingsThe findings reveal that, relative to baseline, agricultural output will decline by a range of −3.1% to −3.6% under the high climate scenario (higher temperatures and lower yields). A decrease in agricultural output results in declines in agricultural labor and household income. Household income falls in all categories, although it drops the most in urban less educated households with a range of −3.1% to −3.4%. On the other hand, consumption of commodities will fall by −0.11% to −0.13%, according to the findings. Although climate change impacts had a relatively small effect on gross domestic product, reducing it by −0.059% and −0.098% in 2030 and 2050, respectively.Practical implicationsAs agricultural output, household consumption and income decline, it will impact the majority of the population’s health in Bangladesh by increasing malnutrition, hidden hunger, poverty, changing food environment, changing physical and mental health status and a changing health-care environment. Therefore, population health and food security will be a top socioeconomic and political concern for Bangladesh Government.Originality/valueThe examination of the dynamic CGE model is its originality. In conclusion, the evidence generated here can provide important information to policymakers and guide government policies that contribute to national development and the achievement of food security targets. It is also necessary to put more emphasis on climate change issues and address potential risks in the following years.

Women Entrepreneurs-Contributions Through the Digital Marketplace: In the Economy of Bangladesh

Entrepreneurship plays a significant role in a nation’s economic development because it creates wealth, reduces unemployment, and combats poverty. The present research was solely concerned with the contribution of female entrepreneurs to Bangladesh’s economy. It attempts to depict the overall experience of female entrepreneurs, such as the encouragement or support they received, the obstacles and barriers they had to overcome, and so on. This study’s main goal was to discover the benefits of the digital marketplace in the ventures of women in Bangladesh. The data were analyzed using a quantitative research design, simple percentages, and Index Scale Statistics. Data collection was done primarily, and the samples were obtained from female entrepreneurs via a questionnaire survey using convenience and snowball sampling. The graph and table were created using STATA. The findings show that most women in Bangladesh start businesses to gain self-sufficiency or financial independence. Social barriers, family restrictions, insufficient product, insufficient labor, and so on were among the major issues they faced. Before starting the business, most women were students, homemakers, or teachers. In accordance with the respondents, their product has helped people improve their quality of life. Most female entrepreneurs want to grow their online and offline businesses and help unemployed women gain employment. It was discovered that the majority of online entrepreneurs are young women. Most of the start-ups were launched in 2020, indicating a relationship between COVID-19 effects and the launching of start-ups. The majority of women sold their goods on Facebook. Most female entrepreneurs buy their products from wholesalers to get better deals and more benefits. In contrast, some entrepreneurs produce the goods themselves to guarantee their authenticity. The economic development and social well-being of the community and their families’ income are greatly enhanced by the participation of women in entrepreneurship. The findings demonstrate the profound effects that women’s entrepreneurship has had on both the economic situation in Bangladesh and the lives of the entrepreneurs.

An ARCH volatility analysis of real GDP, real gross capital formation, and foreign direct investment in Bangladesh

This paper aims to investigate the volatility of the growth rates of Bangladesh's real GDP, real gross capital formation, and net inflows of foreign direct investment. The study used data on these indicators from the World Bank for the period between 1972 and 2020. Autoregressive integrated moving average (ARIMA) and the autoregressive conditional heteroscedastic (ARCH) methods were applied to model the conditional mean and conditional variance components for each growth rate. The validity of the selected volatility models was evaluated using a variety of diagnostic techniques, such as the time series graph of estimated residuals, cumulative periodogram, and the portmanteau test for white noise. The overall performance of the selected models is evaluated using the mean squared error (MSE) and the root mean squared error (RMSE). For all three indicators, the conditional means depend on the growth rates of the previous year or two years, whereas conditional variances depend on the previous year’s rates. The outcomes of the study also indicate the existence of time-varying volatility in Bangladesh's economy. This study may be helpful in understanding the potential risks related to the volatile nature of macroeconomic growth rates.

Exploring Environmental Kuznets Curve and Pollution Haven Hypothesis in Bangladesh: The Impact of Foreign Direct Investment

Bangladesh receives the second-most foreign direct investment in South Asia. Over the past 30 years, Bangladesh's economy has expanded tremendously because of increased investment from several foreign countries. Although it can be beneficial in certain ways including the generation of new jobs, the improvement of infrastructure, and the equalization of economic rewards across the population; foreign direct investment has unintended consequences, such as ecological damage. In light of this, it is worth exploring the effects of foreign direct investment on sustainable development in Bangladesh. Using the most up-to-date annual data between 1990 and 2019, this study investigated the evidence of the Environmental Kuznets Curve and the Pollution Haven Hypothesis in Bangladesh. To assess the effects of economic growth, foreign direct investment, energy use, and trade on carbon dioxide emissions, this research employed the autoregressive distributed lag method. The empirical results indicated that the country has an inverted U-shaped Environmental Kuznets Curve and the adverse impact of foreign direct investment on the environment confirmed the validity of the Pollution Haven Hypothesis in Bangladesh. The results paint a bleak picture, sounding an alarm for policymakers to pay closer attention to the ways in which development leads to increased carbon emissions and how multinational companies operating within the country worsen the situation. That's why it's important to subject foreign investors to stringent environmental regulations. In addition, the nation's economic expansion should be guided by sustainable development goals.

Corruption in Bangladesh: Background Causes and Current Scenario

While Bangladesh is characterized by impressive rates of economic growth and significant improvement in several development indicators, it is also marked by high levels of corruption. This study engages with bribery to show that it has become a norm in transactions, which has made it a systemic part of the Bangladeshi economy. It argues that the state-sanctioned involvement of untrained individuals such as ruling party members and freedom fighters in running the state machinery is a significant factor for the genesis and consolidation of corruption in Bangladesh from 1972 to 2013. The introduction of such candidates into the civil service, public sector enterprises has led to the expropriation by a few leading to the development of crony capitalism in the country. Furthermore, it posits Bangladesh as a key site for the illustration of speed money theory.

A Study on Contraceptive Practice and Associated Factors among Women Garments Worker

Introduction: The garment industry is a crucial contributor to the economy of Bangladesh and employs a large number of women of reproductive age. However, contraceptive use among these women is low, which can lead to unintended pregnancies and adverse health outcomes. The present study aimed to assess the contraceptive practices and associated factors among female garment workers in Bangladesh. Methods: This prospective observational cross- sectional study was conducted at Islami Bank Hospital, Mirpur, Dhaka, Bangladesh. The study duration was 1 year, from November 2021 to October 2022. During this period, a total of 300 garment workers were enrolled in the study following the inclusion and exclusion criteria from those employed at any of the various garments of Mirpur region, Dhaka, Bangladesh. Result: The study found that a majority of participants were aged 21-25 years (44.33%), Muslim (77.67%), had a primary level of education (44.33%), and had 1-2 children (69.33%). Almost half of the participants had good knowledge of contraception (48.33%), 66.67% had a positive attitude and 66.00% reported using contraception regularly. The most commonly used method of contraception was oral contraceptive pills (43.04%), followed by condoms (29.13%), and injections (22.17%). A considerable number of participants (14.35%) reported an unknown source of contraception. Among the 70 participants who did not use contraceptives, the most commonly reported reasons were an expectation that the patient will not get pregnant (45.71%) and partner refusal (41.43%). Only 25.33% of participants had access to family planning services. The accessibility of family planning services was significantly associated with the knowledge of contraception, the attitude toward contraception, and the use of contraception. The use of contraception was higher among participants who reported access to family planning services (84.93%) compared to those who did not have access (59.91%). Conclusion: The study highlights the low prevalence of contraceptive use among female garment workers in Bangladesh and the need for increased access to family planning services. Partner involvement and education on contraceptive methods and their side effects may also contribute to increased contraceptive use.

Impact of COVID-19 on Small and Medium-sized Enterprises (SMEs) in Bangladesh: An Owner-centric Study

Small and medium-sized enterprises (SMEs) are an essential part of Bangladesh's economy, contributing significantly to the country's gross domestic product (GDP). The study aims to investigate the impact of COVID-19 pandemic on the owners of SMEs in Bangladesh. To serve this purpose, cross-sectional data were collected from 103 participants using a purposive sampling technique. We generated different frequency distribution tables based on our inputted data, and then the results of the study were presented using descriptive statistics. The results of the study showed that 58.3% of the SMEs were completely shut down due to COVID-19 pandemic. We also observed that the demand for goods reduced by 83.5%, while production costs increased by 21.4%. Thus, the overall production of goods in SMEs decreased by 48.5%. Most of the owners (90.3%) stated that their profit was dropped by 50% to 100% during corona pandemic, and 68.9% of owners had to retrench workers from their organizations to reduce costs. Approximately, 78.3% of respondents stated that their products remained unsold from 10% to 70% during the pandemic. The findings suggest that policymakers should advance the SME sector by incorporating e-commerce, more favorable government policies, facilitating bank loans, and establishing new training institutions to solve the existing drawbacks of this sector.

Implementation of Kaizen on a Basic Shorts Manufacturing to Reduce Cost and Accelerate Productivity

The economy of Bangladesh is growing rapidly with the power of the Ready Made Garments industry which remains the highest exporting sector of the nation from the very beginning. With time being RMG sector has been facing many challenges and increasing production costs is always a bigger concern. Bangladesh is facing a higher production cost of manufacturing any garment compare to its previous ten years while the offering cost from the buyer remains approximately the same. Considering the challenges this sector is more focused on reducing production costs to maximize the profit margin. This paper aims to demonstrate comparative changes in terms of Cycle time, Standard Minute Value (SMV), Capacity, Hourly target, Manpower, and salary by implementing the Kaizen process on a basic shorts manufacturing process. Improving and implementing kaizen, work-study, and motion study in three separate processes of shorts result in a huge saving for the industry. Comparison of data is done by evaluating the process breakdown of the products considering before and after kaizen implementation. This comparison considers basic shorts manufacturing in a floor results in 4 minutes, 10 operators, and $11,520 yearly savings also ensures the increase in capacity, efficiency, and hourly target. So this paper can lead to a better output showing the guidelines for the manufacturers and also the expertise as well.

Additive linear modelling and genetic algorithm based electric vehicle outlook and policy formulation for decarbonizing the future transport sector of Bangladesh

The transport sector as a whole plays an important role in the economy of Bangladesh as its contribution to gross domestic product (GDP) stood at 10.98 percent in the fiscal year (FY) 2018-19 with a growth rate of 6.88 percent. However, this sector also accounted for 9.92 percent of the country's total greenhouse gas (GHG) emissions in 2020. This GHG emission is projected to grow by 116 percent by 2030, making decarbonization of transport an urgent priority by uptaking the electric vehicle (EV). Hence, the Government of Bangladesh is presently working towards issuing an EV policy to remove the barriers to accommodate this paradigm shift in the transportation sector. In order to develop an effective policy for scaling up EV uptake in Bangladesh, systematic and detailed forecasting needs to be carried out considering various influencing parameters. In this study, an EV outlook for Bangladesh from 2022 to 2040 has been formulated by applying the concepts of the additive linear programming mechanism. The predictive modelling includes linear growth of ICE vehicles, EV price reduction, and inclusion of carbon tax on ICE cars as contributing factors in this paper. It has been estimated that, with the inclusion of a 40% carbon tax, the forecasted number of EVs would reach around 3,000,000 in the year 2040. The outlook has led to a comparative financial analysis between ICE vehicles and EVs through the establishment of financial modelling. The genetic algorithm optimizes total tax incidence (TTI) that limits the payback period, and hence, reduces the price gaps between EVs and ICE vehicles. Based on the findings of the study, a number of policies are recommended on fiscal and financial incentives to pave the way for increased uptake of EVs in Bangladesh.

IOT Based Smart Agriculture in Bangladesh: An Overview

The agricultural sector plays a critical role in Bangladesh's rapid economic growth, as 50% of the population directly depends on the industry for their livelihood. This article provides an overview of the global state of IoT-based smart agriculture today, with a focus on how control activities and powering the entire cultivation and irrigation process are carried out. We also looked at the various tools and technology employed in IoT-based smart agriculture and their potential to advance Bangladesh's agricultural industry. More than 70% of the country's land is used for agricultural production. Bangladesh is regarded as a nation particularly vulnerable to climate change, with its agricultural sector frequently being devastated by natural calamities. IoT-based smart agriculture has the potential to drastically alter Bangladesh's agricultural industry by lowering risks, increasing productivity, and boosting resistance to climate change. The bulk of people working in the agricultural industry should raise their level of life by embracing the era of Internet of Things (IoT)-based smart agriculture. To do this, the electricity needed for the monitoring and management of IoT-based smart agriculture will need to be supplied by renewable energy sources. Given that agriculture plays a significant part in Bangladesh's economy and that this technology is being embraced globally in this sector, it is imperative that Bangladesh address its issues and make the necessary preparations to ensure that it is going forward in a sustainable manner.

Stunting and its associated factors in under-five children: evidence from Bangladesh Demographic and Health Survey 2014

Impaired growth and development experienced by children, referred to as stunting, is a major impediment to human development. Although the Bangladesh economy has experienced high growth in recent decades, malnutrition still remains a public health problem. This study assesses the prevalence and risk factors associated with stunting among children under-five in Bangladesh. This analysis uses data from the Bangladesh Demographic and Health Survey 2014, a community-based cross-sectional study. A total of 6,965 children were enrolled in the study. The prevalence of stunting was 36.5% [95% confidence interval (CI): 34.8-38.3%] and 40.2% [95% CI: 37.4-43.1%] for children aged 0-59 months and 0-23 months respectively. Multivariate logistic regression revealed that the significant factors for stunting for children aged 0-59 months and 0-23 months were maternal working status, mother education, mothers age at childbirth, birth order, delivery mode, receiving antenatal clinic visit, media habits, perceived size of child at birth, child sex, children having had diarrhea in last two weeks, wealth and geographical region. In order to meet the nutrition indicators under zero hunger sustainable development goal and 2025 target of World Health Assembly, policy interventions are needed to reduce stunting specially focusing on eastern region of Bangladesh.

Movement of the Economy of Bangladesh with its Sector-Wise Contribution and Growth Rate

Bangladesh is an overpopulated south Asian developing country. Agriculture, industry, and service are the 3 sectors of its economy, and these sectors are divided into 20 sub-sectors. The objective of this study is to show the movement of its economy along with its sector-wise contribution and growth rate. The study is conducted based on secondary data collected from the website of the Bangladesh Bureau of Statistics. On average, yearly, the contribution of the agricultural sector is 12.46%, the industrial sector is 32.80%, and the service sector is 50.63% in its national Gross Domestic Product (GDP), but the contribution of the industrial sector is increasing, while the contribution of agricultural and service sectors is decreasing. On the other hand, on average yearly, the growth rate of the agricultural sector is 3.32%, the industrial sector is 8.80%, and the service sector is 5.89%, while the national GDP growth rate is 6.44%. Among 20 sub-sectors, the manufacturing sub-sector showed the highest contribution, 22.47%, and growth rate, 11.59%, in 2021. The study claims the economy of Bangladesh is moving toward the industrial sector. The economy of Bangladesh has successfully recovered from the COVID-19 negative shock, but the economy is suffering from another negative shock, the Russia-Ukraine war. Further study is required to measure the Russia-Ukraine war's effect on Bangladesh's economy.

COVID-19 induced cost upraises in the lifestyle of common people in Bangladesh: a cross-sectional study

Background COVID-19 continues to pose a significant risk to human health and is a prominent global vampire. COVID-19 diseases have a similar burden in all parts of the world, but they present a significant challenge to public health in low- and middle-income nations like Bangladesh. The primary purposes of the study are to describe the extent to which COVID-19 has increased the cost of living for the average Bangladeshi and to identify the chronic diseases that have been linked to the lifestyle impacts of COVID-19. Methods Snowball sampling was used to conduct a cross-sectional, confidential, online community survey from August 27, 2020, to October 10, 2020. Results Overall, 220 (69%) were male, most (32.2%) were between the ages of 31 and 40, most (71%) lived in urban, 279 (87%) were Muslim, and 120 (38%) had private jobs. Most of the people who answered were in classes 13–16 (55%), were married (80%), had a family (4-5) (76%), and earn more than 40,000 Taka (46%) and also between 20,000 and 40,000 Taka (35%) per month. 200 of the people who replied did not have a chronic disease, and 62 had at least one. During the beginning of COVID-19, 311 of the 312 people who answered the survey used masks. This began with the first case of COVID-19 in Bangladesh. 95% of the time, they used sanitizer, and 36% of the time, they used soap. Overall, 22% made less money during this time, and 7% lost their jobs. Because of the possible effects, there was less economic activity and less money coming into the community. Conclusions Impacts on Bangladesh's economy and way of life from COVID-19 are summarized in this report. It's not just a financial crisis; the ripple effects are being felt across society.

Prospective Accelerating Sectors to Attain Sustainable Development in Bangladesh Economy: Findings from a Sectoral Approach Using Input-Output Analysis

With frequent climate change related disaster shocks and a huge burden of refugees from neighbor country’s conflict, Bangladesh needs to formulate effective strategies to support its most prospective sectors for ensuring sustainable development. This paper aims at disentangling the process of economic growth in Bangladesh to identify some prospective accelerating sectors, which could achieve constant economic growth with proper policy support. Using a modification of traditional structural decomposition analysis (SDA), we identify some prospective growth sectors in the Bangladesh economy. We have found labor intensive manufacturing and some high value added service sectors as key sectors for growth in Bangladesh. We compare the existing economic structure of Bangladesh with five other Asian lower income developing countries (LIDCs) and found all other countries have mostly similar economic structure, except Vietnam. Our analysis showed Bangladesh is mainly dependent on the textiles and food sectors in manufacturing and construction, real estate and inland transport sectors in service, for its quick growth. Most importantly, we found some new manufacturing sectors, such as basic metal and machineries, NEC, and recycling sectors, are constantly growing over the last decade, using our technique. Proper policy support to these high potential emerging sectors could help Bangladesh achieve the sustainable development goals (SDGs) of ensuring economic growth and sustainable development through promoting industrial diversification.

INFLUENCE OF MACROECONOMIC VARIABLES ON EXCHANGE RATE: A STUDY ON BANGLADESH

Exchange rate plays an imperative role in international trade of the country. The exchange rate is an important macroeconomic variable used as parameter for determining international competitiveness and indicates the global position of economy of the country. The development of the country is closely related with its foreign exchange system. The construction of this study is to determine the influential macroeconomic variables of the exchange rate by considering 20 years, from 2002 to 2021, data of Bangladesh. Pearson’s correlation and multiple linear regression are used to analyse the data. The results indicate that current account balance, foreign exchange reserve, remittances, and GDP growth rate has a significant positive correlation with the exchange rate. However, interest rate and current account balance have no statistically significant relationship with the exchange rate. Therefore, current account balance, foreign exchange reserve, remittances, and GDP growth rate are the most influential factors in determining the exchange rate. Therefore, this research concludes that policymakers can change these influential factors to get the best exchange rate for the benefit of the growing economy of Bangladesh.

Banking sector performance and FDI inflows in Bangladesh: exploring the unexplored

PurposeThis research paper attempts to empirically examine the relationship between the performance of the banking industry and foreign direct investment (FDI), thereby helping the readers contemplate one of the least explored areas of the existing literature associated with the idiosyncratic characteristics of FDI resulting from its interaction with the efficient banking performance of the host country. The study has focused on the economy of Bangladesh because of its significant amount of FDI inflows from the rest of the world and its adoption of many liberalization policies, especially in the banking sector and in the areas of international business and trade.Design/methodology/approachThe study, to produce unbiased estimates, employed the autoregressive distributed lag (ARDL) model for analyzing the time series data collected from reliable sources.FindingsThe key outcomes of the study reveal that the sound performance of the banking industry appears to be counterproductive for FDI inflows, which is a bit unconventional insight. In the context of Bangladesh, trade openness, inflation rate and infrastructural development seem to be the dominant factors behind the rising inflows of FDI. Market size appears to be an insignificant determinant of FDI inflows.Originality/valueThis is a unique study because of its focus on the unexplored area in the literature.