Financial Inclusion and Human Development in OIC Member Countries: Evidence from Panel Quantile Regression Method

This study aims to determine the effect of economic freedom and national income per capita of the human development index. Countries will be classified into 4 groups according to the classification in the HDI are very high human development (with an HDI of 0788 or above), high human development (with an HDI of 0677 to 0.784), medium human development (HDI of 0488-0669), and low human development (HDI of less than 0488). The analysis method used in this study is a model of data panel to investigate the influence of Economic Freedom and Income per capita of the HDI. The results showed that for the group of countries very high human local development per capita income is only significant effect on the HDI, for the group of countries High human development and medium human development only economic freedom that affects the HDI, while the low human development group showed that income per capita and Economic Freedom does not affect the HDI.

Prosperity is a great goal that every country in the world aspires to. However, this condition will certainly not be achieved without a problem called poverty. If you look at the available data, about 30% of the world's population (1.56 billion) lives in multidimensional poverty; 50% of the world's population (3 billion) lives on less than $2.5 a day; And 80% of the world's population lives on less than $10 a day. This shows that Welfare in the world is only enjoyed by a small part of the population. A study published that OIC (Organization of Islamic Cooperation) member countries generally have a lower HDI (Human Development Index) than non-OIC countries. If viewed further, Islam has various solutions to avoid poverty through Islamic social finance instruments. Zakat, Infaq, and Waqf have great potential to be developed to prosper the community. So, in this paper, we will discuss the financial technology model used to develop the role of Islamic social finance instruments such as Zakat, infaq, and waqf. So that social and financial institutions can continue to develop various empowerment programs to prosper the community.

The article deals with the approaches to the study of population life quality in countries around the world. We considered the formation of the main Human Development Index, сalculated annually by the United Nations, its сomposition and method of сalculating the indicators, сhanges in the structure and calculation of the indicators of the HDI. According to the data of the 2014 United Nations Report, all countries of the world were divided into four groups: the countries with very high human development level, the countries with high human development level, the countries with medium human development level and the countries with low human development level. In the paper the complex analysis of human development is conducted for the group with very high level of development. In the study we suggested the method of selection of integrated, generalizing indicators using the method of dimension reduction – the method of principal components. By the method of principal components the generalizing integrated indicators, which allowed assessing living conditions of the population at the most generalized level, were identified. The principal factors were selected taking into account the total accumulated dispersion, Kaiser criterion and the scree plot. In the result of the recalculations with the axes rotation by the method of Varimax of initials, three principal components were obtained. The model of dependance of the Human Development Index (HDI) – 􀀀 on the selected principal factors f1, f2 and f3 was built. The countries, included to the first group with very high human development level were classified using cluster analysis. The classification was carried out by the selected generalizing factors. In the result of hierarchical procedures for combining, we identified four groups of countries – four clusters, which confirm the differences in the conditions of human development in the group of countries with very high human development level. DOI: 10.5901/mjss.2015.v6n3s7p79

The study examines the conditional effect of environmental degradation and institutional environment on the conditional distribution of human development, using the Method of the Moment Quantile Regression (MM-QR) technique with fixed effect, Fully Modified OLS (FMOLS) and Dynamic OLS (DOLS) estimators. The study uses strongly balanced data from 20 developing countries with the full data from 1996 to 2021. The findings confirmed heterogenous effects of environmental degradation and institutional environment on human development. The results reveals that lower environmental degradation promote human development across all levels of human development, but the effect higher in countries with low human development. The study shows that institutional environment has positive effect across all levels of human development, with higher effect in countries with low human development. The findings for the control variables show that financial development, population growth and FDI promote human development across all levels of human development. However, the strength of the coefficients also increases with higher quantiles. The results also confirmed unidirectional causality running from environmental degradation and institutional environment to human development, while bidirectional causality between financial development and human development. To promote human development, policymakers at developing countries should focus on climate action policies and building strong institutions.

The article reveals the peculiarities in the formation of comfortable life features in the regions of Ukraine based on the analysis of the components and the human development index. In particular, it reveals the essenceof the human development concept as one that enables people to develop their potential, to live productively and creatively in tune with their needs and interests. Its goal is to empower each individual in the chosen environment – country, region or specific locality. Human development involves balancing the formation of human abilities to improve their conditions of life. However, the level of regional human development will depend on the potential of the designated area. Since 2012, Ukraine has updated the method of estimating regional Human Development Index by which we can calculate the regional human development index. It includes 33 indicators grouped into six blocks in accordance with the basic aspects of human development. These are reproduction, social position, comfortable life, well-being, worthy work, and education. These indicators were selected on the basis of suitability for the annual calculation of provision available to the State Statistics Service of Ukraine, reliability estimates at the regional level under the specific issues of human development in Ukraine, unambiguous interpretation of the impact on human development, lack of high correlation between individual performance and adequacy of static and dynamic variation. According to the ratings of Human Development Index in 2012, conducted by the State Statistics Service of Ukraine and the Institute of Demography and Social Studies of M.V. Puhta, regions that constantly show high indicators of human development index are Crimea, Kharkiv, Lviv, Transcarpathian and Poltava regions. The largest group consists of regions with the average index indicator of the human development (most regions of Ukraine). Finally, the third group consists of regions with the lowest human development index (Kirovograd, Donetsk, Sumy regions). The results of calculations of regional Human Development Index can serve as a basis for identifying key issues and priorities of each region.

Factors of regional financial inclusion in Morocco

The Islamic finance industry has witnessed an interrupted progression globally during the last few decades owing to its sustainable and asset-based nature which promotes growth and development. The aim of the study is to investigate the performance of selected Islamic banks in Organization of Islamic Cooperation (OIC) Member countries by employing the System GMM dynamic panel estimator on a sample of 130 Islamic banks. The results suggest that profitability of Islamic banks is not only influenced by factors related to management decisions but also to changes in macroeconomic environment. Among the bank specific variables, the results suggest that capitalization, asset quality, efficiency and bank size are the key drivers of bank profitability. Furthermore, the findings show that the level of inflation has a positive significant effect implying that Islamic banks perform better during inflationary periods, while real GDP growth rate per capita has no significant impact on profitability. As a policy implication, the further improvement of capital adequacy guidelines and risk management practices for Islamic banks in OIC member countries is eminent. This would further enhance Islamic banks in the global financial industry characterized by increased fragilities in the overall banking sector.

Studies the effect of FDI, international tourism, export on economic growth have various results. Therefore, this study aims to determine the effect of FDI, international tourism, and exports on economic growth in OIC member countries in the 2010-2020 period using the panel data regression method. The number of samples used in this study were 45 countries. Simultaneously, there is a significant influence between the variables of FDI, international tourism, and export value on economic growth in OIC member countries. While partially FDI shows negative and significant results. On the other hand, international tourism has a positive and significant effect and exports also have a positive and significant effect. This study is only limited to 11 periods and three independent variables. For future researchers, it is expected to develop the number of variables and can increase the observation time.

Economic growth is an important factor in the economic development of a country. There is a number of factors that can increase economic growth namely human development. The level of human development in a country array in the value of the Human Development Index (HDI). The growth rate of a country appears in the value of the Gross Domestic Product (GDP) per Capita. The influence of human power resources is shown in the value of HDI which is able to influence the level of economic growth in the value of its GDP. This study will examine the effect of HDI on economic growth in 10 (ten) ASEAN member countries during the period 2010-2016, namely Indonesia, Singapore, Malaysia, Thailand, Brunei Darussalam, Philippines, Laos, Vietnam, Myanmar, and Cambodia against its economic growth in its GDP per capita. Several literature studies such Ciobanu Oana (2015), Swaha Shome et.al (2010), Mihu? Loana Sorina (2013), show that there are a relationship and an influence of Human Development Index's value on Gross Domestic Product (GDP) per capita. The result of this research indicates that each country has a strong and significant correlation between HDI and GDP. It is concluded that the level of HDI can affect the GDP per capita. Economic growth makes it possible to reach a high level of human development, on the one hand, increasing levels of human development leading to increase opportunities for economic growth. The causal relationship between economic growth and human development becomes a mutually influential relationship. So it is clear that the human development in the country relates to an influence of economic growth which is seen in per capita income (GDP per capita) which can be an indicator of welfare in the country.

The rapid growth of the global Muslim population has significantly fuelled the expansion of the halal industry across numerous countries, including those within ASEAN. Halal certification plays a critical role in ensuring products meet Shariah standards, thereby enhancing product safety and appeal for Muslim consumers. This article explores and compares the policies and regulatory frameworks for halal certification in OIC (Organization of Islamic Cooperation) member and non-member countries, specifically Indonesia, Malaysia, Thailand, and Singapore. These countries exhibit fundamental differences in their approaches and implementations: Indonesia relies on the Halal Product Assurance Agency (BPJPH) under the Ministry of Religious Affairs, Malaysia through the Department of Islamic Development Malaysia (JAKIM), Thailand with the support of the Central Islamic Council of Thailand (CICOT), and Singapore through the Islamic Religious Council of Singapore (MUIS). This study identifies the strengths, weaknesses, opportunities, and threats (SWOT) associated with the regulation and implementation of halal certification in these countries. Employing a qualitative approach, data were gathered from scientific literature sources. The findings aim to provide an in-depth understanding of how regulatory frameworks and certification impact the competitive positioning of these nations within the global halal market, supporting their ambitions to emerge as leading global halal hubs. Keywords: Halal Authority Bodies, Halal Regulations, Halal Certifications, OIC Countries, non-OIC Countries

Цель. В работе рассмотрена проблема исследования речевого образа города в Интернете на примере корпусов текстов медийного и локального дискурсов, а также значимость Интернет-образа города в развитии человеческого потенциала города 1 . Метод или методология проведения работы. Анализ был проведен для 7 городов (Новосибирска, Екатеринбурга, Краснодара, Томска, Тюмени, Белгорода и Воронежа) с различным уровнем развития человеческого потенциала согласно исследованию «Борьба за горожанина: человеческий потенциал и городская среда» [1], подготовленному в рамках IV Московского урбанистического форума. Для этого методом ассоциативного эксперимента были сформированы корпуса текстов на основе публикаций, размещенных в СМИ и социальных сетях в Интернете, причем словами-стимулами выступали ойконимы – названия рассматриваемых городов. Далее на основе методов автоматизированного выявления коллокаций и заданных контекстных диапазонов, с которыми они были связаны, в общедоступной системе статистического анализа корпусов текстов Sketch Engine (SkE) были выделены наиболее частотные слова-реакции на названия городов, образ которых рассматривается в данной статье. Результаты. В результате были выделены наиболее частные «темы» и «сюжеты» для образов каждого города, нашедших отражение в медийном и локальном дискурсе. Полученная тематическая и сюжетная структура сопоставлены с результатами анализа уровня развития человеческого потенциала в данных городах, что позволило показать, что жителям с развитым человеческим потенциалом соответствуют города с более разнообразной сюжетно-тематической структурой, где темы и сюжеты медийного и локального дискурсов оказываются взаимосвязаны. Область применения результатов. Полученные результаты позволяют выстраивать медийную политику города и региональных СМИ с целью создания привлекательного образа города для людей с высоким человеческим потенциалом 2 .

Population growth, food shortages, and low levels of human development have been longstanding issues confronting many African countries. Agricultural productivity remains a critical goal for mitigating these challenges and ensuring overall economic development. Total factor productivity (TFP) is a crucial metric for determining a sector’s overall growth. However, due to a lack of comprehensive assessments of the trends and determinants of TFP growth in African agriculture, there are disagreements. Within the context of inclusive human development, the impact of agricultural productivity is frequently misrepresented in the current literature. This paper estimated TFP growth and assessed its impact on human development in Africa. Due to technological improvement, TFP increased moderately at a 5.4% growth rate across African countries over the period (2001–2019). Empirical evidence indicates that TFP growth enhances human development in the long run, but the effect varies according to levels of human development (HDI) and the nature of growth over time. For instance, higher levels of human development tend to mitigate the impact of TFP. Further analysis revealed that technical efficiency improvement is critical for enhancing food safety and human development. Policy recommendations for improving TFP for food security and human development in Africa are provided. Further investigation into agricultural TFP’s impact beyond the poverty measure in Africa is encouraged.

Purpose – This study examines the effect of Islamic financial literacy on women’s empowerment using Islamic financial inclusion as a mediating variable. In addition, digital financial literacy was examined to capture its complementary role in expanding women’s financial participation.Methodology – Using data of 140 female who were or had been married, this group reflects household decision-making roles and provides valuable insights into women’s empowerment. The relationships among the variables were analyzed using structural equation modeling-partial least squares (SEM-PLS). Findings – The results show that both Islamic financial literacy and digital financial literacy significantly enhance Islamic financial inclusion and women’s empowerment. However, Islamic financial inclusion does not significantly mediate the relationship between literacy (Islamic and digital) and women’s empowerment. Implications – The findings emphasize the need to strengthen financial literacy programs, both digital and Islamic, as part of broader efforts to advance women's empowerment in OIC (Organization of Islamic Cooperation) member countries. Financial institutions and policymakers should integrate literacy initiatives with inclusion strategies to ensure that women fully benefit from Sharia-compliant financial services.Originality – This study provides new evidence linking Islamic financial literacy, digital financial literacy, and Islamic financial inclusion to explain women’s empowerment. This offers insights into the pathways through which literacy and inclusion interact, particularly in the context of Islamic finance.

BackgroundLess developed countries are increasingly afflicted with over–nutrition, and the escalating overweight prevalence has become a global problem. However, a problem as global as this may not be amenable to a general set of remedial interventions applicable to all countries.MethodsI use data from various sources, including the World Health Organization and the World Bank, to test the association of overweight prevalence with economic, social, and demographic indicators. I then split the countries up by human development index to investigate to what extent these associations vary between development levels.FindingsOn a global scale, overweight prevalence is most associated with gross domestic product (GDP) per capita, the proportion of a country that is rural, the proportion of elderly in a country's population, and the average years of schooling. At what magnitude, and even in which direction, these relationships go vary with a country's level of development. Generally, GDP per capita has a positive association with overweight prevalence, with the magnitude of such association for countries of very high human development more than twice of that for countries of low human development. However, proportion rural has a negative association with overweight prevalence, with the magnitude of such association for countries of low human development nearly twice of that for countries of very high human development. All four of these variables have statistically significant association with overweight prevalence in countries with low human development.ConclusionsI make policy suggestions to combat increasing overweight prevalence, based on the models that are developed, paying special attention to the differences in magnitude and direction of the regressors between human development levels.

The Asia-Pacific region has recorded the sharpest increase in human development progress globally and has seen shrinking gaps in basic standards and capabilities. However, inequalities around technology remain a cause for concern for the region, especially when countries with lower human development reportedly have limited access to technologies compared to countries with higher human development. Therefore, this study investigated the effects of information and communication technology (ICT), electricity access, and governance on human development in the Asia-Pacific region. A panel dataset of 46 countries from 2010 to 2019 was estimated using the Driscoll–Kraay standard error regression approach. Our findings revealed that ICT has a strong positive impact on human development for countries with high and medium human development. Internet usage is particularly significantly correlated with human development for both country groups, while mobile cellular subscriptions emerged as significant only for countries with high human development. The study also revealed significant positive effects of electricity access and governance on human development. The findings suggest that increased ICT adoption and electricity access, coupled with good governance, are crucial in improving people’s quality of life, thereby promoting greater human development. Limitations of the study include omission of the low human development group and a limited number of indicators used to measure ICT and governance.