Trade Liberalization and Ready-Made Garments Industry in Bangladesh (Liberalisasi Perdagangan dan Industri Pembuatan Pakaian Siap di Bangladesh)

Abdul Razak Abdul Hadi, Qazi Shamin Sultana, Mohamed Hisham Yahya, Tahir Iqbal

Abstract


ABSTRACT

The study aims at examining the effect of trade liberalization on ready-made garments (RMG) industry in Bangladesh. It employs Johansen-Juselius Cointegration test and Vector Error Correction Modeling (VECM) on yearly data from January 1990 through September 2011. The results reveal a significant long-term relationship between RMG export of Bangladesh and the three tested explanatory variables (merchandise export of China and India plus domestic inflation in Bangladesh). The Granger Causality test shows the presence of dynamic relationship between the performance of RMG export of Bangladesh and the value of merchandise export from China and India. However, this dynamic relation is non-existent in relation to the inflation factor.

Keywords: New industrial policy; revised industrial policy; quantitative restrictions; structural adjustment program;
multi-fiber agreement; generalized system of preferences

ABSTRAK

Kajian ini dilakukan bagi menguji kesan liberalisasi perdagangan ke atas industri pembuatan pakaian siap di Bangladesh. Kaedah kajian melibatkan penggunaan ujian kointegrasi Johansen-Juselius dan model pembetulan ralat vector (VECM) bagi mengenal pasti jenis-jenis interaksi antara nilai eksport pakaian siap dan tiga pembolehubah ekonomi (nilai eskport barangan dari China, India dan kadar inflasi di Bangladesh). Menggunakan data tahunan dari bulan Januari 1990 hingga September 2011, kajian mendapati terdapat hubungan jangka-panjang antara nilai eksport pakaian siap Bangladesh dengan ketiga-tiga pembolehubah. Analisis statistik melalui ujian kesan-akibat Granger menunjukkan terdapat hubungan dinamik yang signifikan antara nilai eksport pakaian siap Bangladesh dengan nilai eksport barangan dari China dan India. Bagaimanapun, hubungan dinamik ini tidak kelihatan apabila nilai eksport pakaian siap Bangladesh dikaitkan dengan kadar inflasi tempatan.

Kata kunci: Polisi industri baru; penyemakan semula dasar perindustrian; sekatan kuantitatif; program pelarasan struktur; perjanjian multi-fibre, sistem umum keutamaan


Full Text:

PDF

Refbacks

  • There are currently no refbacks.


DISCLAIMER

The editors and publisher of Jurnal Pengurusan have made every possible effort to verify the accuracy of all information contained in this publication. Any opinions, discussions, views and recommendations expressed in the article are solely those of the authors and are not of Jurnal Pengurusan, its editors or its publisher. Jurnal Pengurusan, its editors and its publisher will not be liable for any direct, indirect, consequential, special, exemplary, or other damages arising therefrom.