عنوان مقاله [English]
In the current study, the causative link among gross domestic product (GDP) annual growth rate (GDPr), corruption perceptions index (CPI), foreign direct investments (FDI) and ease of doing business index (DB) was empirically tested from 2005 to 2020 by using a panel data of D-8 Group comprise of 8 country include Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. The PMG panel ARDL, heterogeneity, and cross-sectional dependence, used to investigate the long and short-term dynamic relationships. Findings from the Pesaran-Yamagata homogeneity test, Pesaran CD test, CIPS and ADF Fisher Chi-square (ADF Fisher) panel unit root tests and Kao panel cointegration test, indicated the panel time series data has heterogeneity and cross-sectional dependence, analyzed variables are stationary and cointegrated respectively. According to the panel ARDL estimation, the error-correction model coefficient (ECM) negative and statistically significant for all examined countries. The value coefﬁcient of error term, indicate that the most of deviation of long-term equilibrium, corrected in the first year. The panel causality analysis results confirm, the bidirectional causality between GDPr and FDI; GDPr and DB; CPI and DB. In addition, the unilateral causality relationship found between CPI and GDPr, DB and FDI.