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Moves Towards an Islamic Common Market: Evaluation of the Potentials

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  • Jafarli, Said

Abstract

The Organization of Islamic Cooperation members had proposed the establishment of an Islamic Common Market among themselves in the early 1970s. This notion currently listed among the core objectives of the Organization and, to this end, the members adopted the TPS agreement in 1990. This study provides the first systematic and comprehensive evaluation of the TPS signatories’ potential to increase trade by applying five different trade indexes suggested in the literature. The findings reveal different characteristics of the TPS countries and shed light on their potential for enhancing economic cooperation. In general, the results are in favor of the establishment of a Preferential Trade Agreement among the TPS signatories.

Suggested Citation

  • Jafarli, Said, 2017. "Moves Towards an Islamic Common Market: Evaluation of the Potentials," MPRA Paper 79179, University Library of Munich, Germany, revised 2017.
    • Handle: RePEc:pra:mprapa:79179
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    References listed on IDEAS

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    More about this item

    Keywords

    Organization of Islamic Cooperation; Islamic Common Market; TPS-OIC; Economic Integration; Regionalism; Development Economics; Herfindahl-Hirschman index; Growth Orientation of Markets Index; Trade Intensity Index; Trade Complimentary Index;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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