Good governance and politics in OIC countries growth: Islamic moral political economy approach

Purpose This paper aims to explore Islamic moral and political economy by examining governance institutions and regime politics in Organization of Islamic Cooperation (OIC) countries. Design/methodology/approach This paper uses 52 countries over the period of 2012–2022. The GMM in the first difference and GMM in system are used to estimate the model. Findings The results suggest that economic growth is significant in political regimes and governance. However, the control of corruption decreases economic growth in OIC countries. It has been contradictive with the concept of hisbah (Islamic institutions responsible for controlling and addressing various irregularities occurring in the market) as control institutions that emphasize transparency and accountability through an Islamic moral economy. Research limitations/implications This paper does not examine the other control for the Islamic moral economy in OIC control such as the international country risk variable. Originality/value This paper attempts to criticize the institutions governance of Muslim countries practices using Islamic moral and political economy.