Bio
Dr. Md. Rafiqul Matin is an Adjunct Faculty (Professor) at North South University, Dhaka, Bangladesh, and a former Managing Director of the Bangladesh Telecommunications Company Limited (BTCL). He holds a PhD in Investment and specializes in Financial Economics. His research explores the impact of macroeconomic volatility on stock markets, including a study on the Dhaka Stock Market's response to the 1996 catastrophe. He has published multiple papers and serves as a reviewer for the Global Journal of Management and Business Research (GJMBR).
Educational Journey
North South University
Adjunct Faculty (Professor)
Experience
North South University
0 - 0Research
Unveiling Economic Dynamics: Exploring the Dhaka Stock Market’s Response to the 1996 Catastrophe
Bangladesh stock market has experienced a severe bubble in 1996 followed by a crash. This study has examined the relationships between the stock market and the economy during this catastrophe i.e. during bubble and meltdown stages of the market. Monthly time series data of six macroeconomic variables; industrial production index, interest rate, consumer price index, exchange rate, money supply and gold price, which might have impact on future dividends and/or the discount rate from the perspective of Bangladesh economy, have been considered to represent the state of economy. This study has used the macroeconomic version of the semi strong Efficient Market Hypothesis (EMH) and macro variable model of the Arbitrage Pricing Theory (APT) to investigate the aforesaid relationships using sophisticated econometric tools - such as Vector Autoregression, Johansen and Juselius Cointegration, and Autoregressive Distributed Lag (ARDL) model. The research findings indicate that during the bubble period, economic indices exhibit stronger explanatory power compared to the meltdown period.
