英语论文网

correction model (VECM) was drawn. These models were conditional on the data sets being stationary. The statistical significance of both long run and short run model is checked and relationships drawn.

The empirical results imply that

The data for GDP net of exports, or growth indicator, trade openness indicator total gdp, real export data, manufacturing export data and real capital formation are all stationary in the long run. This would explain that, Bangladesh had a stable growth, with distortions that are not highly significant, and converges into equilibrium in the long run. Therefore, the data are valid to be estimated and have drawn reliable conclusions.

Growth has found to be positively associated with real export, that would imply, increasing exports will yield higher productivity for the country. This association has proved that Bangladesh continues to follow, Export-led growth hypothesis.

Growth is significantly associated with manufacturing exports, which carries a higher coefficient. While growth is reliant on exports, the sector of export is highly comprise of manufacturing exports, making growth to be affected highly by manufacturing exports only. This has verified that, manufacturing exports are becoming the new engine of growth.

Growth is negatively associated with trade openness indicator. This is justified by the fact that higher trade openness has caused Bangladesh to import more than export. As a result, the country is being reliant on imports. This association is significantly alarming, as if the process gains a momentum, Bangladesh might experience a negative growth in the long run. However, higher imports are bringing in more capital goods which is increasing productivity, ensured by the association capital allocation and growth variable.

The study has specified the duration to adjustment of distortions, which is very important prediction.

The study has found to be supportive of the study conducted by Ahmed (2002), where it was found, that Bangladesh follows export led growth significantly. As Asia's power house economy, among a few countries Bangladesh is in line to the theory (Ahmed N. , 2000). The study also advocates the previous study conducted by Hossain and Karunaratna (2002), explaining that manufacturing exports is becoming engine of growth following de novo hypotheses. It can be concluded that, de novo hypothesis is applicable in the case of Bangladesh. The analyses states that increased imports is affecting the balance of payment, and productivity negatively (Dornbusch, 1974).

The study is different to the studies conducted before, because the study primarily, uses the current level of data, which has been updated in recent dates. Secondarily, the method of econometrics applied is far superior, from methods applied to many studies, which has significantly derived conclusions that can be followed closely. The benefit of recent methods have given a contrasting fact , that implies, Bangladesh still needs to monitor its openness very closely, as the study finds a negative relationship, that is caused by increased imports; and if continued, may reduce product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。