Open AccessFACTORS THAT INFLUENCE GROSS DOMESTIC PRODUCT IN OIL EXPORTING COUNTRIES MEMBERS OF THE ORGANIZATION OF ISLAMIC COOPERATION (OIC) IN THE PERIOD 1985-2016
Author(s) -
Imaduddin zakiy,
Eko Fajar Cahyono
Publication year - 2019
Publication title -
airlangga international journal of islamic economics and finance/airlangga international journal of islamic economic and finance
Language(s) - English
Resource type - Journals
eISSN - 2615-8205
pISSN - 2579-9169
DOI - 10.20473/aijief.v2i1.15471
Subject(s) - islam , exchange rate , liberian dollar , inflation (cosmology) , gross domestic product , economics , product (mathematics) , panel data , us dollar , business , monetary economics , macroeconomics , econometrics , finance , geography , physics , geometry , mathematics , archaeology , theoretical physics
The aim of this research is to analyze the impact of world oil prices,the dollar exchange rate, and inflation on economic growth in oil exportingcountries at the organization of Islamic cooperation. The purposive samplingmethod used to Determine the 5 nation that fulfill the requirements needed.The Data used in this research is secondary Data Obtained from variousinternational statistics institute. This study uses a quantitative approach andpanel regression analysis of data that combines time series of data and crosssection data.The result of research with Fixed Effect estimation models shows thatthe impact of world oil prices, the dollar exchange rate, and inflationsimultaneously have a significant effect on economic growth in oil exportingcountries at the organization of Islamic cooperation. The other result showsthat inflation partially does not have impact on economic growth in oilexporting countries at the organization of Islamic Cooperation, meanwhileother independent variables of the USD exchange rate and world oil pricespartially have positive and significant effect on economic growth in oilexporting countries at the organization of Islamic cooperation during theperiod 1985-2016.