Does Financial Instability Moderate the Relationship Financial Integration - Economic Growth in MENA Countries.

2015 ◽  
Author(s):  
Soulef Zekri
Keyword(s):  
Economic Growth ◽  
Financial Integration ◽  
Financial Instability ◽  
Mena Countries ◽  
The Relationship

The Relation between Money and Happiness in MENA Countries

2016 ◽  
pp. 111-124
Author(s):  
Hilal Yıldız
Keyword(s):  
Economic Growth ◽  
Empirical Analysis ◽  
Economic Performance ◽  
Well Being ◽  
Cultural Performance ◽  
Mena Region ◽  
Mena Countries ◽  
Crucial Question ◽  
The People ◽  
The Relationship

Even though economic growth plays very important role in development, governments stressed the importance of happiness now. The crucial question is that what exactly is the relationship between happiness and money? Or, what can determine happiness? In recent years, the human well-being of its people has been accepted as a new economic inequalities measure. Not only economic performance of the country but also social, political and cultural performance of the country has been accepted as an indicator of better life of the people. Questions which will be discussed are thinking whether or not economic growth plays a major role in happiness and how the relation between economic growth and happiness. The purpose of this chapter is to investigate the relationship between economic growth and happiness in the MENA Region using an empirical analysis.

scholarly journals Investigating the Relationship Between Financial Integration and Economic Growth in the East African Community

2017 ◽  
Vol 13 (19) ◽  
pp. 249
Author(s):  
Onesmus Mutunga Nzioka
Keyword(s):  
Economic Growth ◽  
Financial Integration ◽  
Positive Impact ◽  
Simple Linear Regression ◽  
East African ◽  
East African Community ◽  
African Community ◽  
Economic Bloc ◽  
Gross Capital Flows ◽  
The Relationship

This study set out to investigate the relationship between financialintegration and economic growth in the EAC community states. Secondarydata on financial integration and GDP was obtained from worldbank and theEast African Community(EAC) community secretariat. The data wassubjected to simple linear regression and correlation analysis to achieve theset objective. The study found that, Gross capital flow to GDP (financialopenness) is positively correlated to economic growth (r=0.2093, p <0.05).The study also found that, 3.98% of the variations in economic growth, asmeasured by GDP per capita, within the countries are explained by financialintegration, as measured by the ratio of gross capital flows, 38.98% of thevariations in economic growth between the countries are explained byfinancial integration while 4.38% of the variations in economic growth of theEast African communityEAC as an economic bloc (considering panel data)are explained by financial integration. The findings confirm that, whencapital flows increase, economic growth also increases, pointing to thenecessity of the East African member states to explore ways of increasing thecapital flows between the countries. The researcher recommends conductingof a comparative study between the old and the new EAC to establishwhether the inclusion of Rwanda and Burundi, has had any positive impact(catalyzed) on the level of financial integration and economic growth.

scholarly journals An econometric study of the role of the political stability on the relationship between democracy and economic growth

2020 ◽  
Vol 67 (2) ◽  
pp. 187-206
Author(s):  
Nedra Baklouti ◽  
Younes Boujelbene
Keyword(s):  
Economic Growth ◽  
Data Model ◽  
Generalized Method Of Moments ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
The Political ◽  
Dynamic Panel ◽  
Mena Countries ◽  
The Relationship

This article examines the nexus between democracy and economic growth while taking into account the role of political stability, using dynamic panel data model estimated by means of the Generalized Method of Moments (GMM) over the period 1998 to 2011 for 17 Middle East and North Africa (MENA) countries. Our empirical results showed that there is a bidirectional causal relationship between democracy and economic growth. Moreover, it was found that the effect of democracy on economic growth depends on the political stability. The results also indicated that there is important complementarity between political stability and democracy. In fact, political stability is a key determinant variable of economic growth. Eventually, democracy and political stability, taken together, have a positive and statistically significant effect on economic growth. This finding suggests that, if accompanied by a stable political system, democracy can contribute to the economic growth of countries. Thus, the MENA governments should use policies to promote political stability in the region.

scholarly journals Financial Integration, Macroeconomic Volatility And Economic Growth In The East African Community

2017 ◽  
Vol 13 (19) ◽  
pp. 317
Author(s):  
Onesmus Mutunga Nzioka ◽  
Erasmus Kaijage ◽  
Duncan Elly Ochieng
Keyword(s):  
Economic Growth ◽  
Inflation Targeting ◽  
Financial Integration ◽  
Moderating Effect ◽  
East African ◽  
Single Digit ◽  
East African Community ◽  
Instrumental Variable Regression ◽  
Economic Volatility ◽  
The Relationship

This study aimed at determining the moderating effect of macro-economic volatility on the relationship between financial integration and economic growth in the EAC. The study adopted a positivistic research philosophy and casual research design.. Generalized-two stage least squares instrumental variable regression model (G2SLSIV) was then conducted to test the hypothesis. The findings of the study showed that, macro-economic volatility does not have a significant moderating effect on the relationship between financial integration and economic growth. Therefore, the study recommends that, the governments of respective member states work on a monetary policy that aims to attain a single digit level of inflation rate (low inflation targeting), in the spirit of macro-economic convergence. The study culminates with acknowledging the limitations encountered and provides suggestions for further research.

scholarly journals The Relationship between Economic Growth, Energy Consumption and CO2 Emission in the Middle East and North Africa (MENA)

2021 ◽  
Vol 21 (2) ◽  
pp. 132-147
Author(s):  
Mohammed Touitou
Keyword(s):  
Economic Growth ◽  
Carbon Dioxide ◽  
Energy Consumption ◽  
Carbon Dioxide Emissions ◽  
Past Century ◽  
Kuznets Curve ◽  
Mena Region ◽  
Mena Countries ◽  
Cointegration Tests ◽  
The Relationship

Abstract Research background: CO2 emissions are considered to be the main reason for global warming, and for this reason, their regulation is a very important issue for governments. Due to the increasing use of energy, carbon dioxide emissions have increased dramatically over the past century, with a direct link to economic growth and development. The relationship between CO2 emissions, growth and energy consumption is therefore at the heart of current economic issues. Purpose: This study aimed at examining the relationship among economic growth, carbon dioxide (CO2) emissions and energy consumption in selected MENA countries, in the period 1995–2017. Research methodology: To prove these relations, a stationary data panel methodology is used supported by unitary root and cointegration tests. Results: The results indicated that there is a long-term relationship between CO2 emissions, energy consumption and GDP. In addition, it is found that the elasticity of CO2 emissions with respect to energy consumption is less than one (inelastic), and the elasticity of CO2 emissions with respect to GDP suggests the existence of an Environmental Kuznets Curve. An important finding is that energy consumption has a positive but relatively low effect on CO2 emissions. To reduce CO2 emissions, the countries of the MENA region are being called upon to increase significantly the use of renewable energies and the establishment of a more efficient energy policy.

scholarly journals Has Financial Integration of ASEAN and APEC Contributed to Economic Growth?

2021 ◽  
Vol 4 (1) ◽  
pp. p36
Author(s):  
Yutaka Kurihara
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Financial Crises ◽  
Financial Integration ◽  
Global Financial Crisis ◽  
The Other ◽  
Policy Makers ◽  
Definite Answer ◽  
Pros And Cons ◽  
The Relationship

As globalization prevails, financial integration has been ongoing. The movement of globalization has occurred from the 1980s and a lot of attention has been paid to occurred issues from of aspects. This study focuses on whether financial integration in ASEAN and APEC promotes economic growth or not. These areas have attempted to tackle integration and cooperation and to achieve growth. Also, a global financial crisis occurred in the 1990s, and the 2000s made policy makers and business persons aware of potential contagion. Globalization sometimes has caused a contagion of financial crises. On the other hand, cooperation promoted recovery from the damaged economy in some areas. So the pros and cons have been examined, however, a definite answer whether financial integration is correct or not remains unknown. Using available data, empirical analyses are conducted in this study to examine the relationship between financial integration and economic growth. The empirical results show that financial integration has contributed to economic growth in ASEAN, however, this result cannot be applied clearly to APEC. The variety of participating countries in APEC may have affected the result. Moreover, there are some problems to be solved for sound economic growth for these areas.

scholarly journals Energy consumption, CO² emissions and economic growth in MENA countries

2020 ◽  
Vol 11 (1) ◽  
pp. 133-150
Author(s):  
Ali Maalej ◽  
Alexandre Cabagnols
Keyword(s):  
Economic Growth ◽  
Energy Use ◽  
Co2 Reduction ◽  
Poor Countries ◽  
Mena Countries ◽  
Significant Relationships ◽  
Growth Energy ◽  
Rich Countries ◽  
The Impact ◽  
The Relationship

This study investigates the relationship between economic growth, final consumption, investment, energy use and CO² emissions in two groups of Middle East and North Africa (MENA) countries: Oil Poor Countries (OPC) and Oil Rich Countries (ORC). It is assumed and verified that the structural relationship between GDP growth, energy use and CO² emissions is different in these two groups of countries. FGLS panel estimations were carried out over the period 1974–2014. In ORC, no significant relationships are observed between energy use and GDP, whereas CO² emissions and GDP are positively linked. In OPC, there are opposite connections: a positive link between GDP and energy use, whereas the impact of CO² emissions on GDP tends to be negative. In both groups of countries, a positive and bi-directional link is observed between energy use and CO² emissions. The strength of this link is twice bigger in OPC than in ORC. This indicates that CO2 reduction policies conducted through energy use control (quantitative and qualitative) will have higher effect in OPC than in ORC. This also shows that the relationships between economic growth, energy use and CO² emissions differ noticeably and structurally between OPC and ORC. These results provide new insights into the opportunities and threats faced by CO2 reduction policies in OPCs and ORCs.

scholarly journals Debt-Growth Nexus in the MENA Region: Evidence from a Panel Threshold Analysis

Economies ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 102
Author(s):  
Mohammed Daher Alshammary ◽  
Zulkefly Abdul Karim ◽  
Norlin Khalid ◽  
Riayati Ahmad
Keyword(s):  
Economic Growth ◽  
North Africa ◽  
Public Debt ◽  
Threshold Value ◽  
Threshold Effect ◽  
Threshold Estimation ◽  
Mena Region ◽  
Mena Countries ◽  
The Public ◽  
The Relationship

This study examines whether a debt-to-GDP threshold exists in the public debt and economic growth relationship for 20 Middle East and North Africa (MENA) countries from 1990 to 2016 using the threshold estimation technique. The empirical results reveal that there is a threshold effect in the public debt and economic growth relationship. The MENA region’s debt-to-GDP threshold value as a developing region is lower than the debt threshold computed by earlier studies for developing countries. We found that the effect of public debt on economic growth is significant and positive only below the threshold value of debt-to-GDP. More precisely, debt has a promoting influence on economic growth when the debt is less than 58% of the GDP. This finding indicates that the relationship between public debt and economic growth is contingent on the debt-to-GDP ratio. Importantly, policymakers need to be more prudent when establishing a policy regarding debt issues.

scholarly journals Health Expenditure, Institutions, and Economic Growth: Insights From Selected MENA Countries

2021 ◽  
Author(s):  
Bashir Umar Faruk ◽  
Mohammad Imdadul Haque ◽  
Mohammad Rumzi Tausif ◽  
Md Riyazuddin Khan
Keyword(s):  
Economic Growth ◽  
Health Expenditure ◽  
Institutional Quality ◽  
Granger Causality Test ◽  
Causality Test ◽  
Mena Countries ◽  
Health Investments ◽  
Long Run ◽  
The Relationship

Abstract Health expenditure plays an important role in nation-building. Moreover, the current wave of the COVID-19 pandemic highlights the importance of health investments in maintaining a healthier economy across the world. Quite a significant number of empirical research undertaken on the relationship between health expenditure and economic growth produce mixed results. The study plans to study the relationship between health expenditure and economic growth and the role of institutions in causing health expenditure to promote growth. The study analyses this relationship using the case of seven selected MENA countries between 2000 and 2017. The Pedroni cointegration test reports a long-run cointegrating relationship between the variables. However, the Granger Causality test finds no casual relationships between health expenditure and economic growth. The study further applies panel OLS, FMOLS, and DOLS, and the result from all three models shows that health expenditure does not directly contribute to higher economic growth in the MENA countries. The study argues that this is possibly due to inadequate institutional quality. However, it is understandable that there must be indirect effects of health expenditure on economic growth through better human capital. Finally, the study discusses policy options to improve institutional quality indicators to tap the benefits and contribute positively to economic growth in the region.

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