The problem of underdevelopment in Islamic countries and economic development in the light of Ibn Khaldun's economic views

Ibn Khaldun lived in the Middle Ages and has been described as the pioneer and founder of disciplines such as history, philosophy of history, sociology, and economics with his deep insight. The thinker's determinations on the economy have a broad perspective and are an economic understanding that includes the state and international trade. He made some determinations about economic theories centuries before economists such as A. Smith, D. Ricardo, J. M. Keynes. Ibn Khaldun describes the elements of a country's economic growth and development; he stated that low taxation, minimum state intervention, protection of property rights, justice mechanism, political stability and economic freedoms can be ensured.From this point of view, it has been concluded that Ibn Khaldun's understanding of growth and development will be a solution for Islamic countries in the underdeveloped category. In order to measure the effect of economic freedom index, judicial efficiency and property rights, international trade freedom on economic growth in selected Islamic countries, econometric analyzes were conducted with data covering the period 2000-2017. In the study where four different models were established, the second-generation unit root (Pesaran CIPS) and the cointegration test (Durbin-Hausman) were used to ensure the stability of the series and the panel after testing the cross-sectional dependency and to determine the cointegration relationship. In order to test the heterogeneity of the slope coefficients, the Delta test developed by Pesaran and Yamagata (2008) was used. After they were determined to be heterogeneous, Panel CCE and Panel AMG were used as cointegration coefficient estimators. It is concluded that the relationship between property rights and international trade freedom as subcomponents of economic freedom in general with economic growth is statistically significant and positive. To estimate the causality relationship between variables, Emirmahmutoğlu and Köse (2011) panel causality test was applied and results in line with expectations were obtained.