Research
The Impact of Remittances from Overseas Workers on Economic Expansion at Home: Evidence from Bangladesh
The goal of this study is to find out how the money that migrant workers from Bangladesh send home affects the country's overall rate of economic growth. This study makes use of the multiple regression model as an analytical strategy for estimating yearly time-series data and parameters from 1999 to 2021. The real-world evidence supports the idea that there is a strong positive link between the money that migrant workers send home and the growth of the economy. Other changes in regulations, like those about gross capital creation and the size of the labor force, are also statistically significant, but they don't include direct foreign investment. This article looks at some important research that shows how important remittances sent by migrant workers are as a way to grow the economy. In addition, the variability of the controls, the length of the research, and the estimating methods used are all different from those used in earlier studies. In conclusion, the empirical findings that have been developed are quite sound.
Financial Deepening Parameters and Economic Progress in Bangladesh: A Causality and Impact Analysis
This research investigated the causality and impact analysis of financial deepening and economic growth in Bangladesh for the period of 1993 to 2020. The Johansen cointegration test is used to demonstrate a long-run association. The Granger causality test and the Error Correction Model are also used to determine causality between the variables and short-term or long-term kinematics among the parameters. The findings show that economic growth, broad money supply, market capitalization, and private sector credit have a long-run relationship with a strong adjustment rate toward long-run equilibrium. The findings also show that whereas broad money has a negative and negligible impact on economic growth, market capitalization has a negative and large impact. Broad money is thought to drive growth from a prior standpoint. However, the analysis found that broad money had no positive impact on economic development between 1993 and 2020. Following a pairwise Granger Causality test, it is discovered that GDP doesn't have an effect on money supply or private sector credit, and vice versa. Based on the findings, the research recommends implementing private sector-friendly policies to ensure that depositors not only have access to credit, but that credit is also available at a reasonable cost, i.e., at a low interest rate.
