Influence of socio-economic, environmental and financial infrastructures in achieving inclusive growth in Gulf region: A panel data Analysis
Socio-economic, environmental and financial infrastructures are pre-requisites for achieving inclusive growth. Inclusive growth focuses on growth that result in a broader access to stable is it stabilize socio-economic opportunities for a wider number of people in the region or the country protecting the vulnerable and equal justice. In this context, this study aims to analyze the influence of socio-economic, environmental and financial infrastructure on inclusive growth in the short-run and long run among the six Gulf cooperation countries (GCCs). Panel Autoregressive distributed lag approach was used to investigate the relationship of the dependent and independent variables using secondary data for the period of 1990-2016. The findings show evidence of a significant long-run relationship between socio-economic, environmental & financial factors and inclusive growth of GCCs. Besides, it was found the case of disequilibrium in the short run, the Error Correction Mechanism can be significantly adjusted to restore the long-run relationship within the first year. This study is useful for academic specialists and decision-makers, offering extended support for improving the inclusive growth and developing socio-economic, environmental and financial infrastructural policies. In that context, the work proposes to go further, by supplementing inclusive growth with some new elements, required for the society’s advancement.