Answer:
Ground basil is entirely different than Bay leaf. Bay leaf comes from several species of the Laurel family. Basil comes from a species of the Lamiaceae family. Not only are the plants not related, the flavors are not particularly close either. A common substitute for Bay leaf (although also with somewhat different flavor) is Thyme. (1/4 teaspoon Thyme = 1 Bay leaf).
ground basil can be used in place of bay leaf. basil is simply bay leaf that is ground. if you need it in a recipe where you have to remove the basil before serving, (such as shrimp) just place it in a small cloth and tie it. i'd guess about a teaspoon would make one leaf.
I'm sorry but ground basil is not simply bay leaf that has been ground. It is ....ground basil. We grow these herbs and, not only do they look nothing alike, they are not even in the same family, nor do they taste alike. It may be used as a sub for bay leaf but basil is NOT bay leaf.