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

This paper examines the relationship between the quality of different dimensions of institutional infrastructure and economic growth in a panel of 39 member countries of the Organization of Islamic Cooperation (OIC). The empirical results confirm that better-quality political and economic institutio...

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Main Authors: Mohd Ali, Ly Slesman @ Sulaiman, Baharumshah, Ahmad Zubaidi, Ra'ees, Wahabuddin Sahibuddin
Format: Article
Language:English
Published: Elsevier 2015
Online Access:http://psasir.upm.edu.my/id/eprint/13385/1/Institutional%20infrastructure%20and%20economic%20growth%20in%20member%20countries%20of%20the%20Organization%20of%20Islamic%20Cooperation%20%28OIC%29.pdf
http://psasir.upm.edu.my/id/eprint/13385/
https://www.sciencedirect.com/science/article/pii/S0264999315002126#!
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spelling my.upm.eprints.133852018-07-02T02:58:22Z http://psasir.upm.edu.my/id/eprint/13385/ Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC) Mohd Ali, Ly Slesman @ Sulaiman Baharumshah, Ahmad Zubaidi Ra'ees, Wahabuddin Sahibuddin This paper examines the relationship between the quality of different dimensions of institutional infrastructure and economic growth in a panel of 39 member countries of the Organization of Islamic Cooperation (OIC). The empirical results confirm that better-quality political and economic institutions can have positive effects on economic growth. All in all, the evidence from 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 finds 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. Thus, institutional reforms to upgrade the quality of both political and economic institutions are crucial for development in OIC countries. Elsevier 2015 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/13385/1/Institutional%20infrastructure%20and%20economic%20growth%20in%20member%20countries%20of%20the%20Organization%20of%20Islamic%20Cooperation%20%28OIC%29.pdf Mohd Ali, Ly Slesman @ Sulaiman 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. 214-226. ISSN 0264-9993; ESSN: 1873-6122 https://www.sciencedirect.com/science/article/pii/S0264999315002126#! 10.1016/j.econmod.2015.08.008
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description This paper examines the relationship between the quality of different dimensions of institutional infrastructure and economic growth in a panel of 39 member countries of the Organization of Islamic Cooperation (OIC). The empirical results confirm that better-quality political and economic institutions can have positive effects on economic growth. All in all, the evidence from 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 finds 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. Thus, institutional reforms to upgrade the quality of both political and economic institutions are crucial for development in OIC countries.
format Article
author Mohd Ali, Ly Slesman @ Sulaiman
Baharumshah, Ahmad Zubaidi
Ra'ees, Wahabuddin Sahibuddin
spellingShingle Mohd Ali, Ly Slesman @ Sulaiman
Baharumshah, Ahmad Zubaidi
Ra'ees, Wahabuddin Sahibuddin
Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)
author_facet Mohd Ali, Ly Slesman @ Sulaiman
Baharumshah, Ahmad Zubaidi
Ra'ees, Wahabuddin Sahibuddin
author_sort Mohd Ali, Ly Slesman @ Sulaiman
title Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)
title_short Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)
title_full Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)
title_fullStr Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)
title_full_unstemmed Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC)
title_sort institutional infrastructure and economic growth in member countries of the organization of islamic cooperation (oic)
publisher Elsevier
publishDate 2015
url http://psasir.upm.edu.my/id/eprint/13385/1/Institutional%20infrastructure%20and%20economic%20growth%20in%20member%20countries%20of%20the%20Organization%20of%20Islamic%20Cooperation%20%28OIC%29.pdf
http://psasir.upm.edu.my/id/eprint/13385/
https://www.sciencedirect.com/science/article/pii/S0264999315002126#!
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score 13.211869

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