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All Journal Talaa : Journal of Islamic Finance
Vasagan, V. T.
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Economics, Econometrics & Finance

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Trend of Gross Domestic Product and Per Capita Income of Bangladesh: Past, Present, and Future Vasagan, V. T.
Talaa : Journal of Islamic Finance Vol. 2 No. 2: December 2022
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v2i2.698

Abstract

Bangladesh's per capita income was half of that of India in 2007. Today, it has surpassed India. The Asian Development Bank has estimated that Bangladesh's GDP will grow at a rate of 6.6% hereafter. According to the 2022 Economic Freedom Index, Bangladesh's economy placed in the 137th position with a score of 52.7 in the World. In the Asia-Pacific region, Bangladesh ranked 29th position out of 39 countries. The resilience of COVID-19 impinged the average growth of the economy. International Monetary Fund (IMF) has envisaged that the World may experience a challenging recession-like situation in 2023. Hence, the present paper attempts to predict the economic condition of Bangladesh through its GDP and Per Capita Income. The study considers 51 years of GDP and Per Capita Income growth data. It has adapted the Trend Projection Method, a linear regression technique, and the Least Square method to analyze data to get the future trend. It has been found that GDP was grown at an average rate of 4.4% and Per capita income at an average rate of 1.8% since 1971. The study reveals that GDP and Per Capita Income may grow at 7% and above hereafter. Hence, appropriate strategies and economic policies of the Government of Bangladesh create a defendable position that safeguards the country's economic condition.
Forex of India since 1991: A Study Based on Mann-Kendall Time Series Trends Vasagan, V. T.
Talaa : Journal of Islamic Finance Vol. 5 No. 2: December 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i2.788

Abstract

India's has become the fourth largest country in the foreign exchange reserves. The Foreign Exchange Reserves (FX Reserves) of India refer to the total foreign currency assets held by the Reserve Bank of India (RBI). It includes Special Drawing Rights (SDRs), Physical Gold and Foreign Currency Assets. Foreign Exchange Reserve stabilizes the Indian economy, particularly in terms of foreign trade and payment systems. This study delves a dataset of 31 years from 1991 to 2022. The objective of the investigation is to analyze the long-term trends to gain insight into the dynamics of the Indian economy and explore it association with GDP growth. The Mann-Kendall test is used to analyze trends in time series data and regression to analysis its impact on the growth of GDP of India. The study reveals the Mann-Kendall test that the computed p-value is lower than the significance level 0.05 at 95% of confident level, the null hypothesis is rejected. Hence, the foreign exchange reserve of India increases further and has positive trend. But in respect of GDP it has no impact on the growth of GDP of India since the p-value is greater than the significance level of 0.05 at 95% of confident level. Thus, Government of India has to take new initiatives, policies and strategies to strengthen its Forex reserves. This will enhance macroeconomic stability, and improve its resilience to external shocks in the global economy.
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