همگرايي اقتصادي كشورهاي اسلامي و بررسي سرريزهاي منطقه اي با تاكيد بر نقش منتخبي از كشورهاي حوزه خليج فارس : مطالعه اي بر مبناي اقتصادسنجي فضايي

Economic Convergence of Islamic Countries and the Investigation of Regional Spillovers by Focusing on the Role of Some Selected Persian Gulf Countries: a Study Based Upon Spatial Econometrics

Changes in the structure of the world economy have deeply linked countries to each other in recent decades. Due to a high rate of international transactions and mutual activites amongst countries, the country borders have lost their effectiveness. In fact, countries are motivated to cooperate with each other for obtaining more and more benefits. Economic cooperation raises trade and scale economies, transfers technology and thus increases growth and welfare. Recent studies show that in new discipline of the world economy, in addition to domestic conditions of a country, its movement is also affected by other countries. According to the economic literature, any relationship between economic growth rate and the primary income is somehow considered as a theme of economic convergence. It is possible to consider contiguous spillover effects through using spatial econometric techniques. Therefore, this paper examines economic convergence on Islamic countries by focusing on the Persian Gulf countries and for this purpose uses spatial econometrics. Results indicate that there is a positive spatial dependence among the growth rate of considered Islamic countries. Thus, these countries can benefit from spillover effects of the neighbors, and it is possible to create a positive growth loop in the region.