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.
|List of Tables||iv|
|List of Figures||v|
|List of Abbreviation||vi|
|II.||Review of literature||2-4|
|III.||Overview of Bangladesh economic enactment||5-8|
|VIII.||Conclusion and Recommendation||18|
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
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.
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 >.
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