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Remittances, Political Stability and Economic Development: Empirical Evidence from OIC Countries

In: Islamic Economies

Author

Listed:
  • Mohsin Ali

    (International Centre for Education in Islamic Finance (INCEIF))

  • Wajahat Azmi

    (International Centre for Education in Islamic Finance (INCEIF))

Abstract

Using data from 16 Organisation of Islamic Cooperation (OIC) countries for the 20-year period 1993–2012, we examine the role of remittances and political stability on economic development. We also examine the interaction of political stability and remittances to determine whether or not stable political conditions are expected to increase the effect of remittances. Our results can be summarized as follows: (1) remittances have no significant effect on OIC economies, (2) democracy is a more effective form of government than autocracy/dictatorship, and (3) political stability reduces the effects of remittances on development.

Suggested Citation

  • Mohsin Ali & Wajahat Azmi, 2017. "Remittances, Political Stability and Economic Development: Empirical Evidence from OIC Countries," Palgrave CIBFR Studies in Islamic Finance, in: Nafis Alam & Syed Aun R. Rizvi (ed.), Islamic Economies, chapter 3, pages 29-40, Palgrave Macmillan.
    • Handle: RePEc:pal:pcichp:978-3-319-47937-8_3
    DOI: 10.1007/978-3-319-47937-8_3
    as

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