The Role of Digitalization in Bangladesh’s Economic Development: A Study of Digital Technologies, Ecommerce and Fintech
DOI:
https://doi.org/10.61506/01.00553Keywords:
Digitalization, Economic Development, Digital Technologies, Ecommerce and FintechAbstract
The main research purpose of this research study is to understand the influence of Digitalization in the Bangladeshi context, considering digital technologies, e-Commerce and fin tech. The study aims to understand components mentioned above in relation with each other and in relation to economic growth, financial adoption and markets growth. We conducted a research on Bangladesh regarding " The Role of Digitalization in Bangladesh’s Economic Development: A Study of Digital Technologies, Ecommerce and Fintech" using data from selected emerging nations. Data was gathered from the National Bank of Bangladesh, covering the period from 2001 to 2022, alongside data from Organizations such as the World Bank, IMF, Asian Development Bank, and Bangladesh Bureau of Statistics provide extensive datasets. This paper focuses on the impact of digitalization, Electronic Commerce (e-Commerce), and Fintech in the enhancement of GDP and Economic growth in Bangladesh. The analysis shows that digitalization is a game changer for the future growth of the economy, which is evidenced by the results of research in the spheres of e-commerce and fintech opportunities. Thus, digitalization appeared to be the most dominant variable, exhibiting a strong and positive rapid growth coefficient in all the models. As a form of connectivity, a means of improving the efficiency of business processes, and a basis for the creation of new technologies it has become an integral part of today’s economy. The findings further imply that there is scope to significantly expand digital inputs that exist in Bangladesh and need more investment and policies for further optimization.
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