Based on the global dataset from 95 developing countries, this study examines the impact of capital inflow, finance, and infrastructure development on economic growth and also investigates the moderating role of institutional quality on economic growth. To address the research objective, the paper adopts Generalized Method of Moments (GMM) which theoretically maintains endogeneity issue. Since the institutional quality varies across countries, the study also applies Quantile Regression to explore the effect of different level- capital inflow, finance, and infrastructure development prevailing across the selected countries on the economic growth. The finding clearly supports that capital, finance, and infrastructure development are very important for economic growth, whilst the institutional qualities have a statistically significant moderating effect in our test models. Finally, the paper carries a substantial momentum for the policy-making decision across developing countries. These findings emphasized the need for policymakers to strengthen institutional frameworks to enhance the effectiveness of infrastructure and financial investments. Consequently, developing countries can better leverage these factors for sustainable economic growth.

Keywords: Capital Inflow, Finance, Infrastructure Development, Institutional Qualities, Economic Growth