Social capital and economic growth: empirical evidence from OIC countries

This research investigates the effect of constructive social capital such as religious tolerance, political participation, and marriage; and destructive social capital such as the corruption culture and discriminatory behavior towards the economic growth rate of member countries of the Islamic Cooperation Organization (OIC) 2014-2017. The results of the research estimation using the technique of fixed effect (FE) from the panel data of the OIC countries show that religious tolerance measured using the freedom of religion index (FRI) shows a positive and significant effect on the economic growth rate; political participation as measured by political rights index (PRI) has a significant negative effect on the economic growth rate; marriage measured using the percentage of married woman (PMW) has a positive effect on the economic growth rate but is not significant; corruption culture measured using the corruption perception index (CPI) has a negative and no significant effect on the economic growth rate; and discrimination behavior measured using discrimination and violence against minorities index (DVI) shows a negative and no significant effect on the economic growth rate.