Institutions, Human Capitals and Emerging Nations' Economic Expansion
DOI:
https://doi.org/10.47067/ramss.v7i4.377Keywords:
Institution, OIC, Capital, Human Capital, Economic ExpansionAbstract
This paper looks at institutions, economic growth and human capital in emerging nations. By utilizing a piece of 120 developing nations for the years 2000–2023, the study simultaneously applies Quantile regression and the Generalized Method of Moments (GMM). The results demonstrate that institutions and human development do have a major beneficial influence on the expansion of the economy. It's interesting to note that human development and institutions combine negatively to significantly hinder the economic progress of emerging nations. In this article argues that incremental investments in human development would have a detrimental influence on economic growth since more capital is often used for rent-seeking and socially useless endeavors. Policymakers should keep in mind the vital role that institutions play in a nation's early stages of development in order to improve the efficacy of its health and education programs. The biggest novelty is the examination of many routes of transmission— financial institutions, political and economic—that human development uses to impact economic progress in developing countries. This study examines the notion of economic development and conducts an empirical investigation to determine whether Muslim nations differ from non-Muslim nations. Furthermore, this work expands on the body of research on empirical growth by combining quantile regression and dynamic system GMM approaches
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