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Economic Growth and Convergence across the OIC Countries

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  • Unal, Umut

Abstract

The main purpose of this study is to analyze whether the Organization of Islamic Cooperation (OIC) countries show a regional economic convergence during the last three decade. Following the other leading studies in the literature, income convergence in the OIC countries is estimated by using the following two methods: (i) absolute income convergence; (ii) conditional income convergence. As an extension, the determinants of growth across the countries are also examined. For a given starting level of real per capita GDP, the growth rate is enhanced by higher schooling and investment rate, better maintenance of the rule of law, lower fertility and improvements in the terms of trade. For given values of these and other variables, growth is adversely related to the initial level of real per capita GDP.

Suggested Citation

  • Unal, Umut, 2014. "Economic Growth and Convergence across the OIC Countries," MPRA Paper 81439, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:81439
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    References listed on IDEAS

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    Cited by:

    1. Muhammad Ramzan Sheikh & Iram Mushtaq & Asad Abbas & Sana Sultan, 2024. "Convergence Hypothesis and Economic Growth in ECO Countries: An Insight from MM-QR Approach," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 89-104.
    2. Shah Imtiyaz Ahmad & Haq Imtiyaz ul, 2022. "Convergence or Divergence in Economic Growth of Commonwealth of Independent States (CIS)," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(4), pages 58-80, December.

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    More about this item

    Keywords

    Convergence; economic growth; human capital.;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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