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What Drives Inflation in OIC Economies? A Fixed-Effects Panel Approach

Author

Listed:
  • Amjad Ali Hassan

    (University of Lahore)

  • Eesha Khan

    (Government Graduate College (W), Kasur)

Abstract

This research looks into the factors that influence inflation by investigating the impact of broad money supply, crop production index, GDP growth, gross capital formation, and electricity production from oil and gas, along with the imports and exports of goods and services on inflation in Organization of Islamic Cooperation 13 countries for the years 1990 to 2022. The data structured as a panel is collected from the World Bank, and according to the Hausman test (p

Suggested Citation

  • Amjad Ali Hassan & Eesha Khan, 2025. "What Drives Inflation in OIC Economies? A Fixed-Effects Panel Approach," Journal of Economic Sciences, Federal Urdu University Islamabad, Department of Economics, vol. 4(2), pages 81-97, December.
    • Handle: RePEc:azm:journl:v:4:y:2025:i:2:p:81-97
    DOI: 10.55603/jes.v4i2.a5
    as

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    References listed on IDEAS

    as
    1. Stephen G. Cecchetti & Erica L. Groshen, 2001. "Understanding Inflation: Implications for Monetary Policy," International Economic Association Series, in: Jacques Drèze (ed.), Advances in Macroeconomic Theory, chapter 7, pages 113-135, Palgrave Macmillan.
    2. Mr. Luis Brandão-Marques & Mr. Gaston Gelos & Mr. Thomas Harjes & Ms. Ratna Sahay & Yi Xue, 2020. "Monetary Policy Transmission in Emerging Markets and Developing Economies," IMF Working Papers 2020/035, International Monetary Fund.
    3. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    4. Jerry Hausman, 2015. "Specification tests in econometrics," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 38(2), pages 112-134.
    5. Lucas, Robert E, Jr, 1980. "Two Illustrations of the Quantity Theory of Money," American Economic Review, American Economic Association, vol. 70(5), pages 1005-1014, December.
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    Keywords

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    JEL classification:

    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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