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The effect of the competitiveness index on economic growth, with an emphasis on institutional and structural variables: 10 selected countries exporting oil

Author

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  • Hamoun Doroudi
  • Fateme Helma Ghasemi Goudarzi
  • Bijay Kumar Kandel

Abstract

Reaching long-term sustainable economic growth is very important for every country. Almost all macro-economic policies in a country founded based on rational criteria and indicators of competitiveness of the economic, social, and cultural country can be a vital element of sustainable economic growth. This paper tries to investigate the impact of the competitiveness index on economic growth with the emphasis on institutional variables and structural changes and for this purpose, it used the combined data of 10 oil-exporting countries, during the period (2000-2017) through the generalized method (GMM). Independent variables include: Capital stock per capita, labor, structural change index, competitiveness index, international indicator risk of the countries, and the dependent variable for per capita growth economy is GDP. The estimation results show that the increase in the competitiveness index leads to increasing economic growth as well as effects of structural index on economic growth is positive and significant, and increasing the international risk countries (Institutional Index) has a negative effect on economic growth which is based on theoretical principles

Suggested Citation

  • Hamoun Doroudi & Fateme Helma Ghasemi Goudarzi & Bijay Kumar Kandel, 2022. "The effect of the competitiveness index on economic growth, with an emphasis on institutional and structural variables: 10 selected countries exporting oil," Philosophy, Economics and Law Review Articles, Philosophy, Economics and Law Review, vol. 2(2), pages 85-95, December.
    • Handle: RePEc:cxt:phelrj:v:2:y:2022:i:2:p:85-95
    DOI: https://doi.org/10.31733/2786-491X-2022-2-85-95
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