IIMS Journal of Management Science
issue front

Subrata Roy1 and Monika Pal1

First Published 7 Nov 2023. https://doi.org/10.1177/0976030X231202623
Article Information
Corresponding Author:

Subrata Roy, Department of Commerce, Mahatma Gandhi Central University, Motihari, East Champaran, 845401, Bihar, India.
Email: subrata1_roy@yahoo.com

1Department of Commerce, Mahatma Gandhi Central University, Motihari, Bihar, India

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 License (http://www.creativecommons.org/licenses/by-nc/4.0/) which permits non-Commercial use, reproduction and distribution of the work without further permission provided the original work is attributed.

Abstract

This article has examined the impact of selected macroeconomic variables on economic growth in the Bay of Bengal Initiative for Multi-sectoral, Technical and Economic Cooperation (BIMSTEC). Thus, quarterly data have been considered over a period from 2000 to 2021. The study has taken into consideration the Cobb–Douglas production function as a model specification to examine the above issue. It has been found that agricultural production is an important macro-economic determinant to justify economic growth in BIMSTEC and its members. However, foreign direct investment is a significant macroeconomic factor for economic growth in BIMSTEC and also in India. Moreover, GDP in Bhutan, Sri Lanka and Thailand is positively and significantly affected by the balance of trade.

Keywords

AGP, BIMSTEC, EMP, FDI, BoT

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