The focus of this paper is to develop an econometric model that measures the changes in GDP for the OIC states.
This paper focuses on the development of an econometric model which measures the changes of gross domestic product (GDP) for the members of Organization of Islamic Conference (OIC) countries. In particular, we analyze the growth of GDP in the OIC countries and their implications for expanded marketing opportunities for goods and services. We also discuss some challenges the marketers may face in future if the formation of OIC countries block become an economic identity and set up some sort of confederation.
The problem of multi‐collinearity needs to be solved if the model is not going to change.
The recommended solution is to acquire more data on the countries that were absent from the original sample. This may be hard to obtain due to some countries not having a process for collecting accurate statistics.
