The Dynamic Relationship between Good Governance and Economic Growth in Oman.

This study examines the dynamic relationship between good governance and economic growth in Oman. The research uses financial and macroeconomic data to assess this relationship and test the proposed hypotheses. The data and variables are analyzed using EViews software, employing the autoregressive distributed lag (ARDL) model. The study findings reveal that the Foreign Investment Competitive Index significantly moderates economic growth, albeit with some adverse effects. The findings of this study have important implications for policymakers seeking to foster Oman's economic growth. First, the study suggests that the government should improve good governance, particularly transparency, accountability, and the rule of law. Second, the study suggests that the government should improve the Foreign Investment Competitive Index. These steps include reducing bureaucratic red tape, improving the legal framework for foreign investment, and providing incentives for foreign investors. The findings of this study also have implications for scholars investigating governance and economic growth. The study provides empirical evidence of the link between good governance and economic growth, and it suggests that the Foreign Investment Competitive Index plays a moderating role in this relationship. These findings can inform future research on governance and economic growth. [ABSTRACT FROM AUTHOR]