Determinants of Inclusive Growth in Islamic Countries

Mir Jalili, Seyyed Hossein; Cheraghlou, Amin Mohseni; Safari, Omid

doi:10.30473/egdr.2018.4606

Document Type : ORIGINAL ARTICLE

Authors

¹ Determinants of Inclusive Growth in Islamic Countries

² Assistant Professor, Faculty of Economics, University of Tehran, Tehran, Iran

³ M.A. in Economics, Institute for Humanities and Cultural Studies, Tehran, Iran

https://doi.org/10.30473/egdr.2018.4606

Abstract

Inclusive growth creates equal opportunities for those who contribute to economic growth, so that the whole people could contribute to economic growth and benefit from it. In this research, we applied Anand et al. integrated method and social mobility index to measure inclusive growth. The integrated method allows us to identify the determinants of growth and prioritize the specific constraints of each country in generating inclusive growth. We utilized unbalanced panel data method for the period 1995-2015. The results indicate that GDP growth is the most important determinants of inclusive growth in the Islamic countries. Inflation control, human capital improvement, investment, government consumption and trade openness, positively affect inclusive growth in Islamic countries. However, the ratio of bank credits to GDP and foreign direct investment did not have a positive effect on the growth of Islamic countries.

Keywords

20.1001.1.22285954.1397.8.32.3.2

Main Subjects

Economic Growth

References

سوری، علی (1392). "اقتصادسنجی پیشرفته"، چاپ اول، تهران، نشر فرهنگ‌شناسی، جلد 2.

صادقی، سید کمال (1392). "بررسی عوامل مؤثر بر رشد فراگیر در استان‌های ایران"، مجلهاقتصادوتوسعهمنطقه‌ای، سال بیستم، شماره 6، 221-205.

فرهمند، شکوفه؛ طیبی، کمیل و کریمی، محسن (1392). "اثر تولید و رشد بخشی بر فقر و رفاه اجتماعی در استان‌های ایران (86-1379)". جامعه‌شناسی کاربردی، سال بیست و چهارم، شماره دوم، 142-127.

مهرگان، نادر و دلیری، حسن (1392). "کاربرد استتا در آمار و اقتصادسنجی"، چاپ دوم، تهران، نشر نور علم و دانشکده علوم اقتصادی.

میرباقری هیر، میرناصر و شکوهی فرد، سیامک (1395). "بررسی تطبیقی اثرات توسعه مالی بر توزیع درآمد و فقر در کشورهای منتخب اسلامی (رویکرد داده‌های تابلویی)". فصلنامه علمی پژوهشی پژوهش‌های رشد و توسعه اقتصادی، دوره 7، شماره 25، 108-93.

African Development Bank, (2012). “Briefing Notes for AfDB’s Long-Term Strategy – Briefing Note 6: Inclusive Growth Agenda”. Tunis, African Development Bank, 1-9.

Ali, I. & Zhuang, J. (2007). “Inclusive Growth Toward a Prosperous Asia: Policy Implications”. Asian Development Bank, ERD Working Paper, No 97, 1-22.

Ali, I. & Son, H. (2007). “Measuring Inclusive Growth”. Asian Development Review, 24(1), 11–31.

Anand, R., Mishra, S. & Peiris, S. J. (2013). “Inclusive Growth: Measurement and Determinants”. IMF Working Paper, 13.135, 1-26.

Anand, R., Tulin, V. & Kumar, N. (2014). “India: Defining and Explaining Inclusive Growth and Poverty Reduction”. IMF Working Paper, 14.63, 1-33.

Arezki, R. & Nabli, M. (2012). “Natural Resources, Volatility and Inclusive Growth: Perspectives from the Middle East and North Africa”. IMF Working Paper, WP.13.152, 1-25.

Asian Development Bank. (2013). “Framework of Inclusive Growth: Key Indicators for Asia and the Pacific”. 1-83.

Asian Development Bank. (2016). “Tajikistan: Promoting Export Diversification and Growth”. pp. 55-80.

Balakrishnan, R., Steinberg, C. & Syed, M. (2013). “The Elusive Quest for Inclusive Growth: Growth, Poverty, and Inequality in Asia”. IMF Working Paper WP.13.152, 1-35.

Barro, R. J. & Lee, J. W. (2000). “International Data on Educational Attainment: Updates and Implications”. CID Working Paper, No. 042 (Cambridge, Massachusetts: Center for International Development), 1-36.

Berg, A. & Ostry, J. (2011). “Equality and Efficiency: Is there a Trade-Off between the Two or do They go Hand in Hand?”. Finance and Development, 48(3), 12–15.

Dagdeviren, H., Van der Hoeven, R. & Weeks, J. (2000). “Redistribution Matters: Growth for Poverty Reduction”. Employment Paper, No. 2000/10.

Dollar, D. & Kraay, A. (2003). “Institutions, Trade, and Growth”. Journal of Monetary Economics, Elsevier, 50(1), 3–39.

Grosse, M., Harttgen, K. & Klasen, S. (2008). “Measuring Pro-Poor Growth in Non-Income Dimensions”. World Development Report, 36)6(, 1021–1047.

Ianchovichina, E. & Lundstrom, S. (2009). “Inclusive Growth Analytics: Framework and Application”. Policy Research Working Paper, No. 4851, 1-40.

IMF, (2007). “Globalization and Inequality”. World Economic Outlook, Chapter 4, October, Washington DC.

Kakwani, N. & Pernia, E. (2000). “What is Pro-poor Growth?”. Asian Development Review: Studies of Asian and Pacific Economic Issues, 18(1), 1-16.

Kireyev, A. (2017). “Growth Inclusiveness in Djibouti”. International Monetary Fund. WP.93.17, 1-25.

Klasen, S. (2010). “Measuring and Monitoring Inclusive Growth: Multiple Definitions, Open Questions, and Some Constructive Proposals”. ADB Sustainable Development Working Paper Series, No, 12, 1-16.

Kuznet, S. (1955), “Economic Growth and Inequality”. American Economic Review, XLV(1), 1-28.

Lopez, J. H. (2004). “Pro-Poor Growth: A Review of What We Know (and of What we don’t Know)”. Washington, DC, World Bank, 1-20.

McKinley, T. (2010). “Inclusive Growth Criteria and Indicators: An Inclusive Growth Index for Diagnosis of Country Progress”. ADB Sustainable Development Working Paper Series, No. 14, 1-15.

Mir Jalili, H., Mohseni, A. & Safari, O. (2017). “Inclusive Growth in Iran's Provinces (2004 -2015)”. International Journal of Business and Development Studies, 9(2), 5-27.

OECD (2014). “Report On The OECD Framework For Inclusive Growth”. Meeting of The OECD Council at Ministerial Level, OECD Publishing, Paris, pp. 1-58.

Ramey, G. & Ramey, V. A. (1995). “Cross-Country Evidence on the Link between Volatility and Growth”. American Economic Review, 85, 1138–1151.

Ranieri, R. & Ramos, R. (2013). “Inclusive Growth: Building up a Concept”. International Policy Centre for Inclusive Growth (IPC-IG). Working Paper Number 104, 1-21.

Rauniyar, G. & Kanbur, R. (2010). “Inclusive Development: Two Papers on Conceptualization, Application, and the ADB Perspective”. ADB, 1- 25.

Saad-Filho, A. (2010). “Growth, Poverty and Inequality: from Washington Consensus to Inclusive Growth”. DESA Working Paper, No. 100, 1-20.

Son, H. (2007). “Interrelationship between Growth, Inequality and Poverty: The Asian Experience”. Asian Development Bank, ERD Working Paper, No. 96, 1-34.

Tsokhas, K. (2013), “Poverty, Inequality, and Inclusive Growth in Asia: Measurement, Policy Issues, and Country Studies”. Journal of Contemporary Asia, 43(1), 201-205.

Vellala, P. S., Madala, M. K. & Chhattopadhyay, U. (2014). “A Theoretical Model for Inclusive Economic Growth in Indian Context”. International Journal of Humanities and Social Science, 4(13), 229-235.

Wooldridge, J. (2002). “Econometric Analysis of Cross Section and Panel Data”. MIT Press, 551-644.

Economic Growth and Development Research

Determinants of Inclusive Growth in Islamic Countries

References

References

Volume 8, Issue 32
October 2018
Pages 60-47

Determinants of Inclusive Growth in Islamic Countries

References

References

Volume 8, Issue 32October 2018Pages 60-47

Volume 8, Issue 32
October 2018
Pages 60-47