Resource Endowment and Allocation in Islamic Countries for Economic Co-operation

Abstract

The main objectives of this chapter are to delineate the principal economic characteristics of the Islamic economies in recent times and to study how these characteristics can give rise to facts that explain the potential for economic co-operation. The principal indicators examined are growth of GDP, labour force, structure of production by sectors, investment, saving, consumption and exports. The related indicators are current account balances, debt outstanding, debt service ratios and external flow of resources. The emphasis is on Islamic countries, but a comparison with developing countries in general is also made. Selected Islamic countries are studied and their choice is solely based on data availability. The coverage here is, however, for the low- and middle-income countries.