Jurnal Ekonomi & Studi Pembangunan
Vol. 26 No. 1: April 2025

Infrastructure development as a catalyst for sustainable economic growth in OIC countries




Article Info

Publish Date
29 Apr 2025

Abstract

Infrastructure development plays an important role in promoting sustainable economic growth, especially in member countries of the Organization of Islamic Cooperation (OIC). The purpose of this study is to understand how different types of infrastructure, such as digital, physical and non-physical infrastructure, investment, investment and human development index (HDI) impact sustainable economic growth. This study uses data from 52 OIC member countries over the period 2022-2023. To analyse the data, a statistical method called Estimated Generalized Least Squares (EGLS) is used, which is specifically designed to overcome differences in conditions between countries in the data. This method helps to obtain more accurate results despite the imbalance or variation of data between countries. The results of this study show that non-physical infrastructure and HDI have a positive and significant influence on sustainable economic growth. Non-physical infrastructure, such as institutions and basic services can help strengthen the economic system. HDI also plays an important role in improving the quality of human resources. Meanwhile, physical infrastructure, digital infrastructure and investment have not shown a significant direct effect. Therefore, it is recommended that the governments of OIC countries focus on strengthening institutions and improving diverse human qualities to support inclusive and sustainable economic growth.

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Journal Info

Abbrev

esp

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Ekonomi & Studi Pembangunan (JESP) focuses on research papers relating to development economics and multidisciplinary concern to systemic problems in developing countries particularly using quantitative or theoretical work in which novelty is essential. JESP does not publish manuscripts in ...