1
Faculty of Economics, Alzahra University, Tehran, Iran
2
Faculty of Economics, Sharif University of Technology, Tehran, Iran
10.22059/ier.2005.30931
Abstract
This paper has examined the phenomenon of convergence of per capita out put levels across the IC countries for the 1960-1998 periods. Three concepts of convergence, i.e., sigma beta and relative beta, have been used. The estimated beta values reveals only a very weak convergence (?=.0014) across IC for 1960-1998 period. But when a more homogeneous group of countries were selected, the results somehow improved the estimated beta value for PECs ? was .005. The sigma values reveal that the per capita out-put decreases across IC had an increasing trend over the 1950-1998 periods. It means that the poorer members did not demonstrate strong output convergence for the full or part of the period. For SAARC the output variation revealed a diminishing trend, but for the OPEC countries it showed an increasing trend. The results of relative convergence (toward the countries steady state position) reveal that only for 15 countries the convergence hypothesis is confirmed. The average speed of convergence was .33. The results provide a weak evidence of convergence across the IC, it means more attempt in various fields of cooperation: political, economic, cultural, social and scientific, is required to meet the OIC goals.
Afshari, Z., Foroughi Pour, E., & Sheibani, I. (2005). The Growth Dynamism in the Islamic Countries. Iranian Economic Review, 10(12), 1-20. doi: 10.22059/ier.2005.30931
MLA
Zahra Afshari; Elham Foroughi Pour; Iman Sheibani. "The Growth Dynamism in the Islamic Countries", Iranian Economic Review, 10, 12, 2005, 1-20. doi: 10.22059/ier.2005.30931
HARVARD
Afshari, Z., Foroughi Pour, E., Sheibani, I. (2005). 'The Growth Dynamism in the Islamic Countries', Iranian Economic Review, 10(12), pp. 1-20. doi: 10.22059/ier.2005.30931
VANCOUVER
Afshari, Z., Foroughi Pour, E., Sheibani, I. The Growth Dynamism in the Islamic Countries. Iranian Economic Review, 2005; 10(12): 1-20. doi: 10.22059/ier.2005.30931
)