The force of globalization reshaping the local institutions: evidence from the Organization of Islamic Cooperation member countries

What is it about?

We reinforce the existing literature on the effect of overall globalization on institutional quality. Our investigation affirms the presence of an inverted-U-shaped (nonlinear) relation between overall globalization and institutional quality indexes and the existence of an inverted-U-shaped (nonlinear) relation between political globalization and institutional quality. In contrast, economic and social globalization have a U-shaped relation with institutional quality, implying more scope for improvement.

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