Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)

Slesman, Ly and Baharumshah, Ahmad Zubaidi and Ra'ees, Wahabuddin Sahibuddin (2015) Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC). Economic Modelling, 51. pp. 214-225. ISSN 0264-9993

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Abstract

This paper examines the relationship between quality of different dimension institutional infrastructure and economic growth in a panel of 39 Organization of Islamic Countries (OIC). the empirical results confirm that the better-quality political and economic institution can have positive effects on on economic growth. All in all, the evidence fro the nonlinear model reveals that the quality of political institutions that ensure stable government, less expropriation, and low external conflict are the core dimensions of an institutional matrix because they influence the growth effects of economic institutions, confirming the "hierarchy of institutions hypothesis." the study also find that when political and economic institutions are accounted for, institutions that prevent internal conflict and tensions arising from ethnic and religious conflicts do not have significant (positive)impacts on growth. This institutional reforms to upgrade the of both political and economic institutions are crucial for development in OIC countries.

Item Type:	Article (Journal)
Additional Information:	2244/44710
Uncontrolled Keywords:	Conflict-preventing institutions; Dynamic panel threshold model; Economic growth; Economic institutions; Organization of Islamic Cooperation; Political institutions
Subjects:	J Political Science > JA Political science (General) J Political Science > JF Political institutions (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Islamic Revealed Knowledge and Human Sciences > Department of Political Science
Depositing User:	Prof. Dr. Wahabuddin Ra'ees
Date Deposited:	17 Sep 2015 16:45
Last Modified:	14 Aug 2017 15:56
URI:	http://irep.iium.edu.my/id/eprint/44710

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