Mustain Imtiaz

Economics

University of Dhaka · Bangladesh

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About

I am an economics graduate. I have been working for the Central Bank of Bangladesh. (Apex Monetary Authority). Currenty I am posted in the Policy Wing of the Financial Intelligence Unit (FIU), where I focus on: Anti-Money Laundering (AML) & Counter-Terrorism Financing (CTF) policies Strategic risk analysis Aligning national financial oversight with FATF and global AML standards I am committed to continuous professional development and open to collaborations with professionals, researchers, and policymakers in the global finance, banking, and development communities. I have few papers. Now I am targeting Scopus Indexed Journal for my funded PhD opportunity.

Research keywords

Financial CrimeFinancial IntelligenceAnti-Money Laundering (AML/CFT)International Trade FinanceCentral Banking & Monetary PolicyInformal Economy & Financial Inclusion

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EconomicsThe Role of Macroeconomic Indicators in Shaping the Informal Economy: A Panel data analysis of five South Asian Countries

This paper aims to estimate the impacts of macroeconomic indicators on the formation of the shadow economy across five South Asian countries- Bangladesh, India, Pakistan, Sri Lanka and Nepal throughout 1991 to 2015. This study employs a panel data analysis by extracting data from IMF and World Bank data sources. The Fixed Effect (FE) regression model and the Random Effect (RE) model have been used. To increase the robustness of the model and to address potential heteroskedasticity and autocorrelation issues, Driscoll-Kraay standard error was applied. The findings show that increased openness in trade and higher revenue of the government are associated with a higher size of the shadow economy. On the other hand, the shadow economy of a country reduces when the credit distribution through the commercial banks increases. The study also found that when inflation increases, the amount of shadow economy also increases and while GDP per capita increases, the size of the shadow economy decreases. All these findings suggest that financial development and effective regulatory governance are necessary in curbing the size of the shadow economy.