An Estimation of Levels of Development (A Comparative Study on IDB Members of OIC- 1995)

Sustainable development is targeted by many developing nations. In economic literature, development is defined as creating process of welfare and providing necessities for public to maintain opportunities and choices of a society. Nowadays, we not only use economic indicators to evaluate the level of development, but it is also necessary to introduce non- economic indicators such as hygienic, educational, demographic and other socio-cultural factors along with economic factors. In this way the socio - economic planners will be able to evaluate, analyze and design development policies._x000D_ _x000D_ For the last fifty years, medium term socio - economic development was planned and implemented in Islamic countries, and now it is necessary to evaluate all the efforts have been done for the planning and its internal and external effects. This paper tries to put light on the issue. We try to identify the standings of the member countries of the Islamic Development Bank (IDB) in terms of the degree of