Bilateral trade balance of bangladesh with BRICS countries: A static panel data analysis. This paper explores the phenomenon of gravity modeling to examine the crucial relationships between the trade balances of Bangladesh with BRICS countries. Specifically, the relativ. | Journal of Economics and Development, , , August 2015, pp. 53-68 ISSN 1859 0020 Bilateral Trade Balance of Bangladesh with BRICS Countries: A Static Panel Data Analysis Nobinkhor Kundu Comilla University, Bangladesh Email: kundunobin@ Abstract This paper explores the phenomenon of gravity modeling to examine the crucial relationships between the trade balances of Bangladesh with BRICS countries. Specifically, the relative factors determining trade in the popular gravity model have effects on the trade balance model. The trade balance depends on the relative GDP, relative per capita GNI, real exchange rate and importweighted distance proxies for transportation cost of the partner countries to the home country. Using standard panel data techniques during the 1991-2013 period, the model is empirically tested and the results show significant effects of all the relative factors on the bilateral trade balance of Bangladesh in trading with BRICS countries. The robustness check of the model ensures the validity of the specification. The static panel data analysis explores the cross-country variations as well as the time-invariant country-specific effects on trade balance with heterogeneous economies and finds significant effects of all relative factors on the trade balance of Bangladesh. Keywords: Bilateral trade; BRICS; panel data model. Journal of Economics and Development 53 Vol. 17, , August 2015 Journal of Economics and Development 54 Source: Author’s calculation based on BRICS joint statistical publication, and World Development Indicators from World Bank database 2014. 46154 7098 4499 50 197 4 264 3 311 292 1 017 373 Foreign exchange reserves (bil. US$) 473 5 86 Total Trade of goods & services (bil. US$) 1 034 23432 22722 3435 3663 97 100 2 016 2 248 446 571 444 Imports of goods and services (bil. US$) 590 282 3 04 Exports of goods and services (bil. .
