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

Mohsin Ali () and Wajahat Azmi ()
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Mohsin Ali: International Centre for Education in Islamic Finance (INCEIF)
Wajahat Azmi: International Centre for Education in Islamic Finance (INCEIF)

Chapter 3 in Islamic Economies, 2017, pp 29-40 from Palgrave Macmillan

Abstract: 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.

Keywords: Remittances; Political stability; Economic development (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pcichp:978-3-319-47937-8_3

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DOI: 10.1007/978-3-319-47937-8_3

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