Know the basics of regression

People out of economics arena often argue on the necessity of regression analysis. It seems, nowadays, knowing (or, not knowing) regression analysis becomes a distinguishing factor for whether an economic policy prescription will be accepted or not. Also, from the policymakers’ perspective, policy suggestions based on proper econometric analysis have been increasingly getting attention. Thus knowing and applying properly some of the basics of econometrics may help to strengthen the argument, especially those who like to see the real impact of their works. Reading this short article (Regression: An Economist Obsession) may guide.    

The One Percent Debate continues...

It's pleasant when leading economists from the top economy debate on issues like income inequality. The financial crisis back in 2007-2008 opens the door for debate, which eventually helps the policymakers to formulate appropriate policy to deal the talked issue. After Gregory Mankiw's first paper (Defending the One Percent) in the Journal of Economic Perspectives, Robert Solow responded (The One Percent) quickly in the same journal. Now, Mankiw again wrote (Yes, the Wealthy Can Be Deserving) in the New York Times.

While the topic should be more precisely related to developing economies, this debate anyway reflects disentangled global economic environment, which also guided the economic debates.     

Alternative Growth Analysis?

Though the analysis in this article (GDP Growth Debate, by Ahsan H. Mansur) rightly captured the dynamics of output loss during the recent political conflict, however its assumptions look over-simplistic: the analysis unnecessarily gives more weights to the loss without considering the fast recovery effort by both public and private sectors. Also, all the happenings took place in H1 of the fiscal year, meaning the scope for considerable economic progress in H2. Whatever the analysis is, the 5.0% GDP growth projection is too less to agree. Anyway, alternative readings are always good appetite.  

Why agonise over economic growth?

The following article, wrote by Professor Anis Chowdhury (former Professor of Economics, University of Western Sydney, Australia), is a good read for people:

1. who blindly support higher GDP growth;

2. who don't support higher GDP growth;

3. who try to justify lower GDP growth by giving unnecessary country argument;

4. who don't see the long-run outcome of social investment.

Link of the article.

Keystone Quarterly Review

Keystone publishes its quarterly publication - Keystone Quarterly Review - with special focus on health care sector in Bangladesh, problems in state-owned banks, and resurging inflationary pressures.

Link for the report. 

Monetary Policy Statement, BB

Bangladesh Bank announced its half-yearly monetary policy statement without notable change in policy actions.

Link for the report.
Speech of the Governor. 

Macroeconomic Update by CPD

Centre for Policy Dialogue reports its flagship publication (Analytical Review of Bangladesh's Macroeconomic Performance in Fiscal Year 2014) with special focus on export and manufacturing sector, and their near-term prospects given the recent political development.

Link for the report.

Update on Macroeconomic Indicators

IMF issues update on selected macroeconomic indicators of the Bangladesh economy through simple graphical representation. One may like to have clear understanding about the current macroeconomic condition and the interrelationship between variables while going through this.

Link for the update. 

Target Monetary Programming of BB: M2 vs. M3

Habibur Rahman writes on the effectiveness of M2 and M3 in the monetary programming of Bangladesh Bank (BB). In precisely, he examines whether the use of M3 instead of M2 in the BB's monetary programming would provide any better outcome in terms of: (i) explaining CPI inflation and (ii) reducing errors while targeting monetary growth.

Link for a report on the paper.   

IMF Staff Report on Bangladesh

IMF publishes it staff report on Bangladesh, which, among others, incorporated some thematic economic stories (inclusive growth, opportunities and challenges on RMG sector and fiscal risks of the economy). This is quite interesting that IMF also talks about the issues of inclusive growth.

Link of the report.   

Profile of Peter Blair Henry

Finance and Development, IMF profiles Peter Blair Henry, Dean of the Leonard N. Stern School of Business at New York University (NYU). Peter is the most youngest dean in the 113-year history of the school, an economist and a policymaker.

Link of the profile.

Who saved the rupee?

Arvind Subramanian from the Petersen Institute of International Economics writes on the recent fall of the rupee and its recovery later. Interesting conclusion! 

Link for the article.

WB Development Update on Bangladesh

World Bank publishes the Bangladesh Development Update (October 2013) with the following key points:

The GDP growth in FY13 decelerated, for the second year in a row, to six percent.

The most pressing challenges lie in rebuilding the image of the garment sector, removing supply bottlenecks and maintaining economic and financial reforms.

Global risks to the economy have receded, only to be off-set by internal risks, which have grown in stature.

Link of the report.

IMF concludes 2013 Article IV Mission

International Monetary Fund concludes its 2013 Article IV consultation mission and third review under ECF agreement with the Bangladesh government and, as always, provides its comments on the overall macroeconomic development and structural policies.

Press Release of IMF 

Asian Development Outlook 2013 Update

Asian Development Bank publishes its flagship publication 'Asian Development Outlook 2013 Update' with a focus on 'governance and public service delivery'. One can find the Bangladesh Chapter in pages 131-136.

Link of the Outlook.