Impact of determinants on economic growth and human development as a measure of standard of living

Azharul Islam 24 PAGES (6250 WORDS) Article
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Abstract

Economic growth and human development are fundamental phenomena to analyze a country's overall financial condition. GDP per capita and HDI are the two significant variables to measure economic growth and development, respectively. Our time-series study of last 22 years data (1995-2016) of Bangladesh compares the Human Development Index (HDI) and Gross Domestic Product (GDP) per capita in regressions with five explanatory variables which have been chosen as comprehensive measures of our interpretation of standard of living: unemployment rate, gross domestic savings rate, fertility rate, household final consumption expenditure, and infant mortality rate. When we run a regression with all variables, then we can see only three variables are significant. Their impacts on the dependent variable. The significant variables are gross domestic saving rate, fertility rate, and infant mortality rate. Then we run the regression model only with the critical variable, and then we can see that GDP and HDI both are mostly affected by fertility rate. Multiple regression analysis shows that the impacts of the explanatory variables are more substantial in GDP per capita compare to HDI. Finally, we anticipated that HDI would be a superior measure because we believed its modules (GNI per capita, life expectancy at birth, and education) would make it more accessible to changes in indicators that are used to represent the standard of living.

Keywords: GDP, HDI, OLS, Standard of living, Bangladesh.


Contents

Title Page
Acknowledgment i
Abstract ii
Contents iii
List of Tables iv
List of Figures v
List of Abbreviation vi
I. Introduction 1-2
II. Review of literature 2-4
III. Overview of Bangladesh economic enactment 5-8
IV. The Data 8-11
V. Methodology 11
VI. Result Discussion 12-16
VII. Extensions 17
VIII. Conclusion and Recommendation 18
IX. References 19
X. Appendix 20-22

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APA

Azharul, I (2019). Impact of determinants on economic growth and human development as a measure of standard of living. Afribary.com: Retrieved November 13, 2019, from https://afribary.com/works/impact-of-determinants-on-economic-growth-and-human-development-as-a-measures-of-standard-of-living

MLA 8th

Islam, Azharul. "Impact of determinants on economic growth and human development as a measure of standard of living" Afribary.com. Afribary.com, 28 Oct. 2019, https://afribary.com/works/impact-of-determinants-on-economic-growth-and-human-development-as-a-measures-of-standard-of-living . Accessed 13 Nov. 2019.

MLA7

Islam, Azharul. "Impact of determinants on economic growth and human development as a measure of standard of living". Afribary.com, Afribary.com, 28 Oct. 2019. Web. 13 Nov. 2019. < https://afribary.com/works/impact-of-determinants-on-economic-growth-and-human-development-as-a-measures-of-standard-of-living >.

Chicago

Islam, Azharul. "Impact of determinants on economic growth and human development as a measure of standard of living" Afribary.com (2019). Accessed November 13, 2019. https://afribary.com/works/impact-of-determinants-on-economic-growth-and-human-development-as-a-measures-of-standard-of-living