Labor Force Participation Rate and Economic Growth: Observations for Bangladesh

Ahasan Ul Haque, Golam Kibria, Muhaiminul Islam Selim* and Dilruba Yesmin Smrity
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Ahasan Ul Haque: Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh
Golam Kibria: Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh
Muhaiminul Islam Selim*: Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh
Dilruba Yesmin Smrity: Department of Economics, Noakhali Science and Technology University, Noakhali-3814, Bangladesh

International Journal of Economics and Financial Research, 2019, vol. 5, issue 9, 209-213

Abstract: The study investigates the relationship between the labor force participation rate for both male and female, gross fixed capital formation, and economic growth in Bangladesh using the annual time series data from 1991 to 2017. The results find two bidirectional nexus that one is between total labor force participation and economic growth and second is between gross fixed capital formations and economic growth whereas the findings also show a unidirectional causal association from female labor force participation to economic progress for Bangladesh. The study also finds that both total labor force participation and female labor force participation have short-run positive significant effects on the economic development for Bangladesh but adverse effects in the long run. On the contrary gross fixed capital formation contains short term significant negative indication on the economic growth but has an explicit positive considerable impact on the economic development of Bangladesh. The government of Bangladesh needs to give more importance in technical education format that will produce more skilled labor.

Keywords: Economic growth; Labor force participation rate; Granger Causality test; and ARDL test. (search for similar items in EconPapers)
Date: 2019
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