What are the determinants of economic growth in Muslim countries?

Camlibel, Durmus Alper

doi:10.14687/ijhs.v11i1.2775

Cited by 3 publications

(2 citation statements)

References 36 publications

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“…This suggests that an enhanced adherence to Islam does not pose a threat to economic growth in the selected group of countries in the long term; however, in the short term, it appears to dampen economic growth. These results align with the conclusions drawn by Çamlıbel [29], suggesting that Islam, by itself, does not exert a negative effect on economic prosperity in Muslim countries.…”

Section: Presentation and Discussion Of Empirical Resultssupporting

confidence: 90%

Interplay of Islam and Economic Growth: Unveiling the Long-run Dynamics in Muslim and Non-muslim Countries

Quadri,

Olaniyi,

Olaoye

2023

AJESS

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This study delves into the intricate relationship between Islam and economic growth, examining how Islamic teachings impact economic policies and developmental outcomes. Using data from 47 countries over the period 2010-2021, and to achieve our research objectives the CS-ARDL estimating technique by Chudik et al. was employed. The research reveals that Islam positively influences economic growth in Muslim countries in the long run, with a less significant impact in non-Muslim countries. The study emphasizes the role of Islamic education in shaping the behavior of the Muslim population and its subsequent impact on economic growth. Recommendations include prioritizing investment in Islamic education to enhance human capital, fostering long-term economic plans that align with the positive influence of Islamic teachings, and leveraging education to contribute to sustained economic growth.

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Section: Presentation and Discussion Of Empirical Resultssupporting

confidence: 90%

Interplay of Islam and Economic Growth: Unveiling the Long-run Dynamics in Muslim and Non-muslim Countries

Quadri,

Olaniyi,

Olaoye

2023

AJESS

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“…He showed that given the level of economic development, Islam promotes economic growth. Using cross-country regression , Çamlıbel (2014) showed that Islam by itself has no impact on economic growth while technological innovation, human development and economic freedom are significant. More recently, the empirical study of Majeed (2019) shows that social capital (measured by solidarity and interpersonal safety and trust index) is a key factor of economic performance in the Muslim countries.…”

Section: Introductionmentioning

confidence: 99%

Islamic work ethics as a key engine of endogenous economic growth

Raies

2021

IES

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PurposeGod promised pious individuals who obey to His commandments, to increase their economic well-being. Although it is difficult to demonstrate with figures in hand this causality relationship, Muslims must believe in its existence and robustness at both the individual and collective levels, as it is argued in Qur'an and the Prophetic Narration. We aim in this paper to model this positive relationship between Islamic work ethics and economic growth and prove theoretically its existence.Design/methodology/approachWe develop an endogenous growth model very close technically to Lucas–Uzawa model (1988) in which the human capital defined as the individual's skill level acquired through formal education and learning by doing is replaced by ethical capital (piety).FindingsThe model proves theoretically that Islamic ethics are a key engine of endogenous economic growth and that the underdevelopment of Muslim populations is due to their low ethical capital (lack of piety).Practical implicationsThe study recommends some policies such as providing formal religious education at all educational levels (elementary, secondary and higher levels) and promoting ethical values such as piety, sincerity, transparency, etc., through media and cultural institutions. Also, managers could provide courses and training to their workers to teach them Islamic work ethics.Originality/valueThis paper is the first to mathematically model Islamic work ethics as endogenous phenomena in socioeconomic systems and study theoretically their contributions to economic growth.

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The Effect of Institutions on Economic Growth in Muslim Countries

KARADAĞ>

2022

IJISEF

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For the last century, Muslim countries have been generally recalled by political and economic instabilities. They have been facing important problems such as poverty, internal turmoil, social disorders, lack of democracy, inadequate health services and low education level that obstruct their economic developments. These problems in general are addressed to the low level of governance and spoiled institutional structures of markets and political area. According to the good governance approach, efficient markets attract private investors which will drive economic development and growth. For a market to be efficient, various institutions must be established and markets must operate within that framework. This work examines the relationship between the institutions and economic growth in Muslim countries to address this problem. The problem statement is: Is there a significant relationship between the institutions and economic growth in Muslim countries? The D-8 Organization for Economic Cooperation Countries are used as a proxy of Muslim countries. World Bank World Governance Indicators are used as a proxy for the levels of institutions and UNDP Human Development Index is used to proxy human capital. Results show that there exists a significant relationship between the institutions and economic growth in Muslim countries.

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What are the determinants of economic growth in Muslim countries?

Cited by 3 publications

References 36 publications

Interplay of Islam and Economic Growth: Unveiling the Long-run Dynamics in Muslim and Non-muslim Countries

Interplay of Islam and Economic Growth: Unveiling the Long-run Dynamics in Muslim and Non-muslim Countries

Islamic work ethics as a key engine of endogenous economic growth

The Effect of Institutions on Economic Growth in Muslim Countries

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