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Business competitiveness in Muslim World: role of governance and higher education

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Abstract

The main objective of this study is to compare Muslim countries with the rest of world in terms of the effectiveness and efficiency of the factors of competitiveness. Another objective of this paper is to determine the factors of competitiveness of the nations. The study has also assessed the impacts of improvement in political and corporate governances of the institutions, technological advancement and higher education on the business competitiveness. The World Competitiveness Index constructed by the World Economic Forum and World Banks statistics on aggregate savings and investment were used to estimate the regression parameters. It was hypothesized that Muslim world is significantly different from the rest of world in terms of the effectiveness and efficiency of the factors of competitiveness. The role of innovations and knowledge creating activities in determining of business competitiveness was not found statistically significant in Muslim world; it was highly significant in case of the rest of world. It was concluded that investment and technology readiness affects the competitiveness in Muslim countries in different ways. It was recommended that Muslim countries should improve their governance of the corporate and political institutions and the higher education to achieve the efficiency and higher targets of competitiveness.

Suggested Citation

  • Mehar, Ayub, 2008. "Business competitiveness in Muslim World: role of governance and higher education," MPRA Paper 11283, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:11283
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    References listed on IDEAS

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    1. Shleifer, Andrei & Vishny, Robert W, 1986. "Large Shareholders and Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-488, June.
    2. Ayub Mehar, 2005. "From Knowledge Creation To Economic Development: The Missing Links In Muslim World," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 1(1), pages 1-3.
    3. Rida Zaidi & Ahmad Aslam, 2006. "Managerial Efficiency in Family Owned Firms in Pakistan - An Examination of Listed Firms," Microeconomics Working Papers 22283, East Asian Bureau of Economic Research.
    4. World Bank, 2008. "World Development Indicators 2008," World Bank Publications - Books, The World Bank Group, number 11855.
    5. Ayub Mehar, 2005. "Is debt a substitute of equity? Relevancy of financial policy in current economic scenarios," Applied Financial Economics, Taylor & Francis Journals, vol. 15(5), pages 337-366.
    6. Ayub Mehar, 2005. "From Knowledge Creation To Economic Development: The Missing Links In Muslim World," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 1(1), pages 24-47.
    7. World Bank, 2008. "World Development Indicators 2008," World Bank Publications - Books, The World Bank Group, number 28241.
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    More about this item

    Keywords

    Competitiveness; Innovations; Higher Education; Efficiency; Governance;
    All these keywords.

    JEL classification:

    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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