چکیده:
Undoubtedly, one of the major goals of developing countries is to achieve a
higher rate of economic growth. To meet this, according to the progressive
process of international convergence and globalization, incorporating
internationally in trade is a basic means in today agenda of such countries. In
addition, since developing countries are often faced with a long way for the
completion of trade liberalization as a necessary condition for globalization,
regional co-operations are very effective to integrating national economies with
the global economy. Regionalization, therefore, is the most popular type of
integration that can have various effects on economic conditions, comprising
rises in trade flows, economic welfare improvements, scale of economies, and a
more growth among members of a block.
Accordingly, this paper makes efforts to explore the role of economic
co-operations among about twenty selected Islamic countries. It conducts the
hypothesis in which the more trade integration among the countries; the more
trade flows will be realized. A “Trade Gravity Model (TGM)” is thus specified
and can then estimate by econometric methods, illustrating how trade integration
can create aforementioned impacts. As well known, the model is also reliable to
consist of several qualitative variables that explain roles of a variety of
scenarios such as the conduction of a possible regional economic integration,
etc.
Overall, the estimation results lend support to a growing literature both
theoretical and empirical that regional economic tightness has substantially led
rises to trade flows of potential integrated Islamic nations.
خلاصه ماشینی:
"Overall, the estimation results lend support to a growing literature both theoretical and empirical that regional economic tightness has substantially led rises to trade flows of potential integrated Islamic nations.
The gravity model will be estimated in this paper, explains trade between a country i , the exporter, and a specific trading partner j , the importer, that is specified as follows: Ln Xij = ß0 + ß1 Ln Yi + ß2 Ln Yj + ß3 lin +Uij (1) Where, Ln denotes variables in natural log, Xij is the values of export from country i to country j and vice versa.
D- Scenario IV: Implementation of Sub-block among GCC and its North Neighbors To consider the influences of trade integration among members of Gulf Co-operation Council, Pakistan, Iran and Turkey, Dum4 will be added to equation (1).
] *- Values in parentheses are t-statistics A- Scenario I: Implementation of integration among all Muslim countries Due to the results reported by table 3, the estimated coefficient for dummy variable, Dum1, shows that the volume of trade flows is 53.
B- Scenario II: Trade Integration among Middle East, Iran, Pakistan and Turkey On the basis of estimation results, formation of this sub-block would play an important role in trade transaction of countries which included it, so that trade integration among mentioned countries would increase the volume of their trade flows by 148 percent."