Business competitiveness in Muslim World: role of governance and higher education

Muhammad Ayub Mehar

MPRA Paper from University Library of Munich, Germany

Abstract: The main objective of this study is to compare Muslim countries with the rest of world in terms of the effectiveness and efficiency of the factors of competitiveness. Another objective of this paper is to determine the factors of competitiveness of the nations. The study has also assessed the impacts of improvement in political and corporate governances of the institutions, technological advancement and higher education on the business competitiveness. The World Competitiveness Index constructed by the World Economic Forum and World Banks statistics on aggregate savings and investment were used to estimate the regression parameters. It was hypothesized that Muslim world is significantly different from the rest of world in terms of the effectiveness and efficiency of the factors of competitiveness. The role of innovations and knowledge creating activities in determining of business competitiveness was not found statistically significant in Muslim world; it was highly significant in case of the rest of world. It was concluded that investment and technology readiness affects the competitiveness in Muslim countries in different ways. It was recommended that Muslim countries should improve their governance of the corporate and political institutions and the higher education to achieve the efficiency and higher targets of competitiveness.

Keywords: Competitiveness; Innovations; Higher Education; Efficiency; Governance (search for similar items in EconPapers)
JEL-codes: F59 I23 O16 O31 (search for similar items in EconPapers)
Date: 2008
New Economics Papers: this item is included in nep-cse, nep-cwa and nep-edu
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:11283

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