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ll 1991. Among the latest, the study by Hossain and Karunaratna (2004) applied vector error correction and cointegration methods, but up until 1999. Similarly, the stuy of Muhammad A. Hossain and Alauddin (2005), find support for export-led growth, for the period until 1999, applying cointegration methods. One of the major study conducted by Nasiruddin Ahmed (2000), who established cointegration relationship between trade liberalization, growth and export, did estimate for upto 1995.

Among the old theoritical and empirical litratures, conducted by Balassa (1977), Michealy M.(1976), Irma Adelman (1984), Jung and Marshall (1985), Jagdish N. Bhagwati (1978; 1988) contributed highly in the empirical literature. However, in the phase of recent changes in the methods of estimation and global circumstances, may have rendered many of the important literatures insignificant, empirically. The major drawback for the studies carried out for Bangladesh, which have applied econometric methods to draw conclusion to the export-led growth phenomenon, is the timeframe of study. Many years have passed afterwads. In the last 10 years, the world economy has faced many obstacles, and Bangladeshi economy is affected by the ups and downs of world economy. In addition, the changes from inward-looking to outward-looking orientations, may not bring consistency in the pattern of growth. To adjust to immediate impediments, Bangladesh have converted and changed the trade policies and approaches. Aftter the incident of 9/11, the export sector of Bangladesh faced hindrance and exports reduced. The dramatic political changes in the recent years may have also affected the export-growth relationship. In such situation, it is important to analyse export-led growth hypothesis with significant emphasize on trade liberalization for recent years to see, whether the current indicators follow the same pattern as before, or their exists a necessity to bring about further changes to the adopted export promoting policies.

4. Methodology to Analysis

4.1. Empirical Framework

Empirical literature in past has conducted co-integration test, often in two-variable framework, neglecting the probability of misspecification. To avoid the occurrence of such errors, study will not exclude the variables that are assumed to have significant impact on growth. This study will therefore, include investment that is assumed to influence GDP. In the study conducted by Hossain M. a. and Karunaratna (2004), two different multivariate models were suggsted to analyse impact of manufacturing export and real export on GDP. In this study, real export and manufacturing export will be suggested in a single multivariate model, to analyse their impacts in a cointegration framework. The direction and the level of impact is necessary to observe. Other empirical investigations were carried out on trade openness and export promotion. Ahmed N. (2000) , Alauddin and Hossain M.A.(2005) have conducted important empirical studies on trade liberalization and growth. Therefore, in a single multivariate framework, trade openness is added to suggest its impact, in presence of other important variables. The presence of investment variable is important because, if export coeifficien本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。