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

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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.




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