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Is there a Vicious circle in Muslim World? Trade competitiveness and investment strategies

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Abstract

The study tests the existence of a vicious circle of the lack of investable funds, weaker technological advancement and business competitiveness in Muslim countries. Its second objective is to quantify the magnitude of variations in competitiveness between the Muslim world and the rest of world. A model was established to quantify the linkages between the financial resources, technological advancement, business sophistication and competitiveness. The results are based on 111 countries, 30 out of which belong to Muslim world. The governance of the political and corporate institutions, higher education and technology readiness are classified as significant factors of the business competitiveness. It was concluded that governance, technological readiness and higher education are the important and major factors of business competitiveness, while investment was not identified as major determinant of the competitiveness. The study rejects the hypothesis of existence of the vicious cycle in Muslim world. It concludes that Muslim world can achieve the higher target of business competitiveness and ultimately the sustainable economic development by improvement in the higher education and institutional governance.

Suggested Citation

  • Mehar, Ayub, 2008. "Is there a Vicious circle in Muslim World? Trade competitiveness and investment strategies," MPRA Paper 11284, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:11284
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    References listed on IDEAS

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    3. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1231-1294.
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    5. World Bank, 2008. "World Development Indicators 2008," World Bank Publications, The World Bank, number 11855, April.
    6. Singh, Ajit, 1994. "Corporate financial patterns in industrialising economies: a comparative international study," MPRA Paper 54936, University Library of Munich, Germany.
    7. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    8. Gregory Mankiw, 1995. "The Growth of Nations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 275-326.
    9. repec:wbk:wbpubs:28241 is not listed on IDEAS
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    More about this item

    Keywords

    Muslim world; Competitiveness; Globalization; Governance; Vicious circle;

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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