The Long Run Association Between Transport and Economic Growth in Bangladesh: an Econometric Analysis

Author(s)	Sabina Yasmin, Asma Akter
Country	Bangladesh
Abstract	Public investments in transport infrastructure have been widely used by policymakers as a tool to promote economic development. Transport infrastructure investment acts as a catalyst for productivity and economic growth. This study attempted to investigate the direction of causality between transport and economic growth in Bangladesh over 22 years, from 1999 to 2021. The coefficients of parameters in a simultaneous equation model are found via multivariate analysis and the three-stage least squares method. According to the estimated conclusion, GDP drives transport expansion and transport development considerably contributes to economic growth, which is ten times GDP. But compared to the transport elasticity of growth, the output elasticity of transport is lower. Additionally, this paper also shows that transport significantly enhances exports, marketing of agricultural goods, and industrial production.
Keywords	Transport, Economic Growth, Three Stage Least Square, Multivariate analysis.
Field	Sociology > Economics
Published In	Volume 6, Issue 1, January-February 2024
Published On	2024-01-09
Cite This	The Long Run Association Between Transport and Economic Growth in Bangladesh: an Econometric Analysis - Sabina Yasmin, Asma Akter - IJFMR Volume 6, Issue 1, January-February 2024. DOI 10.36948/ijfmr.2024.v06i01.11713
DOI	https://doi.org/10.36948/ijfmr.2024.v06i01.11713
Short DOI	https://doi.org/gtdr6p

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