Mr. Nurul Mohammad Zayed, Senior Lecturer, Department of Business Administration of Daffodil International University Presenting a Paper Titled "Does trade openness foster the economic growth in Bangladesh?" at International Conference on Business & Social Science Research Organized By East West University under HEQEP
Mr. Nurul Mohammad Zayed, Senior Lecturer, Department of Business Administration of Daffodil International University Presented A Paper Titled "Does trade openness foster the economic growth in Bangladesh?" at International Conference on Business & Social Science Research Organized By East West University under HEQEP (A Project of World Bank) on September 05, 2015
Here is the write up:
Due to the concept of trade liberalization stimulate and accelerate the economic advancement of a country and comprise a commensurate and substantial trade dependence ratio with one to another whether it is develop country or developing country. The study primarily concentrates on identifying the economic growth in developing country like Bangladesh due to the policy of trade openness. For accomplishing the pertinent task we penetratingly utilize the data from period 1991-2014. Critics have blamed the concept of trade openness because it rising unemployment and wage inequality, increased exploitation of workers in developing countries, increasing poverty and inequality and deterioration of the environment. The study essentially employs Augmented-Dickey Fuller and Phillips-Perron unit root test along with Engle-Granger approach for co-integration. The result demonstrates and elucidates that long run relationship exists between economic advancement and trade openness. In recent past due to the trade openness and trade reform policy in the developing country like Bangladesh there is a significant inflow of FDI from the industrialized country. Because of the trade openness, the efficiency of the local productions and competition of the local market is increasing. Economic growth is depends on manifold elements like macroeconomic stability, infrastructure, agglomeration, financial market development, human capital, market size, geographical location and many more. However trade policy openness makes a significant impact on the economic growth in Bangladesh. Economic advancement stimulates opening the economy and enforcing to connected and integrated with the world market and that also proliferate the economic ameliorate of a country like Bangladesh. Hence to ensue the incessant economic advancement, Bangladesh needs to ensure and undertaken a distinctive and market oriented policies and proper institutional support and obligatory requires macroeconomic stability.
