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Assessing the impacts of globalization and gender parity on economic growth: empirical evidence from OIC countries

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Abstract

The contemporary debate on globalization and gender equality has a strong impact on economic growth. The present study analyzes the impacts of globalization and gender parity on economic growth in the Organization of Islamic Cooperation (OIC) 47 member countries for the period (1991–2017), using System GMM panel data technique. The results of system GMM have also been empirically estimated by making two groups (viz., low-income and high-income OIC member countries from the World Bank data classification, 2019) to examine the robustness of globalization and gender parity on economic growth. The results reveal that there is a negative impact of globalization on economic growth in the overall sample of OIC countries. When estimated by decomposing low-income countries and high-income countries, globalization has a significantly positive impact on economic growth in the case of high-income OIC countries, whereas globalization slashes GDP in the case of low-income OIC countries. The study finds that there is a positive impact of gender parity (ratio of female to male labor force work participation) on economic growth. Moreover, foreign remittances, government expenditures, capital formation, and human capital are also becoming the causes of a significant increase in economic growth in OIC member countries.

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Funding

This research work is completed with financial support under the Post-Doctoral Fellowship Program of Punjab Higher Education Commission (PHEC), Punjab, Pakistan. The corresponding and principal author acknowledged the funding and role of Punjab Higher Education Commission for completion of her post-doctoral research project.

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Authors and Affiliations

  1. Putra Business School, UPM, 43400, Serdang, Selangor, Malaysia

    Fatima Farooq & Zulkornain Yusop

  2. School of Economics, Bahauddin Zakariya University, Multan, Punjab, 60800, Pakistan

    Imran Sharif Chaudhry

  3. School of Finance and Economics, Jiangsu University, Zhenjiang, China

    Robina Iram

Authors
  1. Fatima Farooq
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  2. Zulkornain Yusop
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  3. Imran Sharif Chaudhry
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  4. Robina Iram
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Contributions

All the authors have contributed to this manuscript. Fatima Farooq originated and designed the main write-up as principal author, develop theoretical framework and model specification, collected data, and made results interpretations. Imran Sharif Chaudhry helped and supported in getting results through software with some guidance in panel econometric results and formatting, while Zulkornain Yusop provided the supervisory role in deciding title of the research work including case study with the conceptual comments and contributed to the paper’s review.

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Correspondence to Fatima Farooq.

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Responsible editor: Nicholas Apergis

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Appendices

Appendix 1

Table 7 List of selected OIC countries (A new classification 2019 by World Bank)
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Appendix 2

Table 8 Detail of variables and sources
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Farooq, F., Yusop, Z., Chaudhry, I.S. et al. Assessing the impacts of globalization and gender parity on economic growth: empirical evidence from OIC countries. Environ Sci Pollut Res 27, 6904–6917 (2020). https://doi.org/10.1007/s11356-019-07289-y

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  • DOI: https://doi.org/10.1007/s11356-019-07289-y

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