Impact of Political Stability, Rule of Law and Control of Corruption on Economic Growth: Evidence from Bangladesh

Afroza Yasmin Mitu; Dil Noshina Jannat; Nor Balkish Zakaria; Nurhidayah Yahya; Farha Ghapar; Renato Sitompul

This study meticulously examines the intricate relationships between political stability, rule of law, control of corruption, and economic growth in the context of Bangladesh. We collect time-series data from 1990 to 2022 and employ the robust Ordinary Least Square (OLS) method to examine the impacts. The study sheds light on the multifaceted dynamics influencing the nation's economic trajectory. Key findings reveal the pivotal role of political stability in fostering economic growth, affirming its positive influence on economic growth. The nuanced relationship with the rule of law underscores the need for a comprehensive understanding of legal institutions' specific contributions to economic development. Surprisingly, the negative association between control of corruption and economic growth challenges conventional wisdom, prompting a revaluation of anti-corruption measures' effectiveness. Policy implications underscore the imperative of fortifying political stability through transparent governance structures and conflict resolution mechanisms. Attention to legal frameworks and institutions is essential, and a holistic approach to corruption that addresses root causes and nurtures transparency is paramount. In conclusion, this study advances our comprehension of governance dynamics and their impact on economic growth in Bangladesh, providing actionable insights for policymakers and charting a course for continued research in this vital area.

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Mitu, A. Y., Jannat, D. N., Zakaria, N. B., Yahya, N., Ghapar, F., & Sitompul, R. (2024). Impact of Political Stability, Rule of Law and Control of Corruption on Economic Growth: Evidence from Bangladesh. International Journal of Academic Research in Economics and Management Sciences, 13(4), 557–574.

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Impact of Political Stability, Rule of Law and Control of Corruption on Economic Growth: Evidence from Bangladesh

Afroza Yasmin Mitu, Dil Noshina Jannat, Nor Balkish Zakaria, Nurhidayah Yahya , Farha Ghapar, Renato Sitompul

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