Abstract
Poverty is still one of the most important economic problems in the world despite the fact that general welfare programs, services, and distribution have been improving since 1980 and the number of people living in poverty has declined. Although many studies have been conducted on income convergence among various countries, their results are still problematic. More specifically, studies on OIC countries are not only few in number, but their methodology has also been insufficient. This article explores whether or not there existed a convergence among the 29 member countries of the OIC between 1969-2007 and whether there was a convergence between these countries and the 17 most developed countries in the world. The results, reached through the usage of Sigma convergence and absolute beta convergence methods, show that the 29 OIC member countries do not demonstrate absolute convergence. The conditional convergence method, calculated with section and panel data, shows that the countries have conditional convergence when their differences are compared. This article analyzes OIC countries for possible convergence, focusing on convergence between these countries and the 17 most developed countries using the panel data method, a successful method when taking into consideration the heterogeneity among the countries.
Keywords
economic growth organization of islamic conference section data panel data convergenceShare
Details
- Authors: Hakan Sarıbaş
Hasan Vergil - DOI: 10.12711/tjbe.2013.6.1.0105
- Year: 2013 (May) / Volume: 6 / Issue: 1
- Page: 25-41
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