What does this research mean for the field?

Fixed capital formation, foreign aid, government expenditures, corruption control, and political stability positively affect economic growth in SAARC countries, whereas the labor force has a negative effect and the level of democracy has no significant impact. Novelty: ClaimNovelty.INCREMENTAL. Consensus alignment: ConsensusAlignment.NEUTRAL.

What question did this study set out to answer?

To examine the economic and institutional determinants of economic growth across selected South Asian Association for Regional Cooperation (SAARC) member countries between 2002 and 2022.

August 23, 2026Journal of Economic Policy Researches / İktisat Politikası Araştırmaları DergisiOpen Access

The Impact of Institutional and Economic Factors on Economic Growth in Selected SAARC Countries: Panel Data Analysis

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Authors

MFMuhammad FarahmandMary Baldwin University EAElife AkişIstanbul University

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Implication

Panel data analysis reveals that institutional stability and capital investment drive economic growth in SAARC countries, indicating the vital role of governance in regional development.

Key Points

To examine the economic and institutional determinants of economic growth across selected South Asian Association for Regional Cooperation (SAARC) member countries between 2002 and 2022.
Analyzed macroeconomic and institutional panel data across selected SAARC nations covering the periods 2002–2022 and 2002–2021.
Estimated relationships using two distinct random effects econometric models selected through statistical model specification tests.
Fixed capital formation, foreign aid, government expenditures, corruption control, and political stability demonstrated statistically significant positive effects on economic growth.
Labor force size showed a statistically significant negative relationship with economic growth, whereas the level of democracy had a positive but statistically non-significant effect.

Cite This Study

Farahmand et al. (2026) studied this question.

synapsesocial.com/papers/6a8aae507677a34114447342 https://doi.org/10.26650/jepr1854831

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Implication

Panel data analysis reveals that institutional stability and capital investment drive economic growth in SAARC countries, indicating the vital role of governance in regional development.

The Impact of Institutional and Economic Factors on Economic Growth in Selected SAARC Countries: Panel Data Analysis

Discussion

Member takes

Implication

Key Points

Cite This Study

The Impact of Institutional and Economic Factors on Economic Growth in Selected SAARC Countries: Panel Data Analysis

Discussion

Member takes

Implication

Key Points

Cite This Study

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