Governance–Development Nexus in the OIC Countries

Abstract

This chapter looks at the relationship between governance and economic development in selected Organization of Islamic Cooperation (OIC) member countries. This chapter outlines the concept of good governance in Islamic faith and episteme and provides some empirical evidence on the governance development nexus in the literature. It also describes the state of governance in OIC countries through descriptive statistics on some indicators. It looks at the relationship between governance and economic development. In contrast, it explores the relationship between governance and economic growth. The results highlight the need for reforms in the quality of institutions, establishing rule of law, emphasising on governance in the policy agenda and bringing strong accountability mechanisms.

Citation

Shaikh, S.A., Ismail, A.G., Ismail, M.A., Shahimi, S. and Shafiai, M.H.M. (2019), "Governance–Development Nexus in the OIC Countries", Azid, T., Alnodel, A.A. and Qureshi, M.A. (Ed.) Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice, Emerald Publishing Limited, Leeds, pp. 355-370. https://doi.org/10.1108/978-1-78973-007-420191036