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Articles 31 - 60 of 227
Full-Text Articles in Social and Behavioral Sciences
Governance And Economic Growth: Interpretations For Mena Countries, Noha Emara, Eric Jhonsa
Governance And Economic Growth: Interpretations For Mena Countries, Noha Emara, Eric Jhonsa
Topics in Middle Eastern and North African Economies
Using Two-stage Least Square (TSLS) regression for cross-sectional observations of 197 countries for the year 2009, the study estimates the impact of the improvement in the quality of governance on per capita income and the increase in per capita income on the quality of governance. Following Kaufman and Kraay (2002) methodology, the results suggest a positive, strong statistically significant causation from quality of governance to per capita income. In addition, the results suggest a positive causation from per capita income to quality of governance. The estimation results are used to interpret the relationship between governance and growth for 22 MENA …
Quantitative Evaluation Of The Struggle Of Economic Performance: The Case Of Mena Countries, Noha Emara
Quantitative Evaluation Of The Struggle Of Economic Performance: The Case Of Mena Countries, Noha Emara
Topics in Middle Eastern and North African Economies
The recent political uprising in the Middle East and North African (MENA) economies shines the light on evaluating the so-called structural reforms that are aimed at achieving economic freedom. This paper examines the impact of liberal policies on the economic performance of labor and capital productivity in MENA economies. Using nonlinear Panel Least Squares regression with regional dummies and period fixed effects (LSDV) for a sample of 18 MENA countries over the period 1995-2009, the study estimates the impact of different aspects of economic freedom on labor and capital productivity. The economic freedom measure encompass different areas, including freedom of …
Competition And Economic Growth: An Empirical Analysis With Special Reference To Mena Countries, Marwa W. Gomaa
Competition And Economic Growth: An Empirical Analysis With Special Reference To Mena Countries, Marwa W. Gomaa
Topics in Middle Eastern and North African Economies
The underlying study analyzes the impact of competition on economic growth, and tests whether this impact might change according to the technological gap between the observed country and the technological leader country. Using panel data estimation for a sample of 115 countries over the period 1995-2010, and controlling for the MENA countries in the sample, the results suggest that intensive domestic competition, proxied by business freedom, tends to hinder the growth rate of an economy independent of the country's distance from the technological frontier, providing evidence in support to the Schumpeterian argument. However this effect is almost negligible for MENA …
Cbe And Fx Devaluation: Bitter Enemies Or Is It Just A Matter Of Time? Analyzing The Impact Of An Egp Devaluation On Egypt’S Trade Balance, Ziad Waleed Amer
Cbe And Fx Devaluation: Bitter Enemies Or Is It Just A Matter Of Time? Analyzing The Impact Of An Egp Devaluation On Egypt’S Trade Balance, Ziad Waleed Amer
Topics in Middle Eastern and North African Economies
After the 2011 revolution, Egypt’s central Bank (CBE) changed its stance from a managed floating exchange rate regime to stabilizing the EGP, even though the market kept pushing for a devaluation to adjust Egypt’s trade competitiveness given the deteriorating state of the economy in general and the external balance specifically. This paper tries to judge the behavior of the Central Bank by looking at the possible effects of a real devaluation on Egypt’s trade competitiveness. Using an ARDL model, we study both the 2003 devaluation and the 2013 partial devaluation, and conclude that the impact of a real devaluation on …
Does The Budget Deficit Crowd-Out Private Credit From The Banking Sector? The Case Of Egypt, Samah Shetta, Ahmed Kamaly
Does The Budget Deficit Crowd-Out Private Credit From The Banking Sector? The Case Of Egypt, Samah Shetta, Ahmed Kamaly
Topics in Middle Eastern and North African Economies
Driven by the observed growing budget deficit and the heavy reliance on debtfinancing from the banking sector, this study sets to test the lazy banking hypothesis for Egypt. According to this hypothesis, government borrowing crowds out private investment through its dampening effect on private credit. The study estimates a VAR model using quarterly data spanning for almost four decades. The estimated model has unearthed a number of interesting results. As the government issues more debt instruments to finance its deficit, banks shift their portfolio away from risky private loans and opt for lazy behavior characterized by a shrinking overall credit …
An Analysis Of North Africa's Capacity To Achieve Renewable Energy Development, Wai Mun Hong
An Analysis Of North Africa's Capacity To Achieve Renewable Energy Development, Wai Mun Hong
Topics in Middle Eastern and North African Economies
Although blessed with abundant solar and wind energies, North Africa has yet to maximise its socioeconomic gain from tapping these resources. In view of North African demographic and middle class expansion, energy demand is set to increase. Tapping renewable energy sources will not only address these problems, but also will be an impetus to the faltering socioeconomic dynamic the region needs to boost sustainable development to benefit from globalisation. However, with bureaucratic-laden institutions and corruptions hindering the private sector from flourishing, governments are compelled to mobilise public finances to cover the lack of private investments in renewable energy projects. Increasing …
Economic Conditions In Egypt: Current And Future, Gouda Abdel-Khalek
Economic Conditions In Egypt: Current And Future, Gouda Abdel-Khalek
Topics in Middle Eastern and North African Economies
No abstract provided.
Poverty In Secular And Islamic Economics; Conceptualization And Poverty Alleviation Policy, With Reference To Egypt, Karima Korayem, Neamat Mashhour
Poverty In Secular And Islamic Economics; Conceptualization And Poverty Alleviation Policy, With Reference To Egypt, Karima Korayem, Neamat Mashhour
Topics in Middle Eastern and North African Economies
No abstract provided.
Middle Class And Pro-Poor Growth In Egypt: The Missing Connection, Abeer Rashdan
Middle Class And Pro-Poor Growth In Egypt: The Missing Connection, Abeer Rashdan
Topics in Middle Eastern and North African Economies
Assessing whether distributional changes are “pro-poor” has become increasingly widespread in academic and policy circles. Based on the methodology of Ravallion and Chen (2003), Kakwani and Pernia (2000) and Kakwani, Khandker, and Son (2003) using grouped data, the paper generates three indices to test whether distributional changes were indeed pro-poor during the period (1990-2008). Another issue is whether pro-poor judgments should be correlative with the size of the middle class. The paper presents the evolution of middle class in Egypt using different thresholds. The middle class in Egypt has followed the path of bulging in size under a certain threshold …
Economic Development And Industrial Pollution In The Mediterranean Region: A Panel Data Analysis, Sevil Acar, Mahmut Tekce
Economic Development And Industrial Pollution In The Mediterranean Region: A Panel Data Analysis, Sevil Acar, Mahmut Tekce
Topics in Middle Eastern and North African Economies
This paper aims to analyse the determinants of industrial pollution in selected Mediterranean countries. As carbon dioxide (CO2) emerges as the main pollutant in the industrial sector, per capita CO2 emissions from manufacturing industries and construction has been taken as a proxy for industrial pollution. The study uses data from the World Development Indicators for the period 1971-2010. The results from the panel data model estimations indicate the existence of an inverse U-shaped relation between GDP per capita and industrial pollution in selected Mediterranean countries, which validates the Environmental Kuznets Curve hypothesis. In addition, the share of industry, per capita …
Estimation Of Gender Wage Differentials Using Oaxaca Decomposition Technique, Marwa Biltagy
Estimation Of Gender Wage Differentials Using Oaxaca Decomposition Technique, Marwa Biltagy
Topics in Middle Eastern and North African Economies
This paper focuses on estimating wage differences between males and females in Egypt to understand the determinants of the gender wage gap and control of this variation. The methodology of this paper is based on studying and analyzing the topic of wage differentials between males and females by using the Oaxaca decomposition technique. The data used in the analysis is obtained from the Egypt Labor Market Panel Survey 2006 (ELMPS 2006), which was presented by Central Agency for Public Mobilization and Statistics (CAPMAS) in cooperation with Economic Research Forum (ERF). The findings of this paper help deepen the understanding of …
The Relationship Between Oil Price And The Algerian Exchange Rate, Abderrezak Benhabib, Si Mohammed Kamel, Samir Maliki
The Relationship Between Oil Price And The Algerian Exchange Rate, Abderrezak Benhabib, Si Mohammed Kamel, Samir Maliki
Topics in Middle Eastern and North African Economies
The goal of this study is to investigate the relationship between oil price and the nominal US Dollar/Algerian Dinar exchange rate through an empirical analysis using a VAR Model (Vector Autoregressive Model) upon monthly data for the period 2003-2013. Results show that a cointegration relationship is not detected between the oil and exchange rate in Algeria. However, the estimation of a VAR model indicates that a 1% increase in oil price would tend to depreciate Algerian Dinar against US Dollar by nearly 0.35%. This negative impact emphasizes how the Algerian dinar is a non-oil currency and explains how the foreign …
Attempts To Industrial Reforms In Algeria: Do They Fit The Logic Of Globalization?, Chérif Begga, Abdelhamid Merghit
Attempts To Industrial Reforms In Algeria: Do They Fit The Logic Of Globalization?, Chérif Begga, Abdelhamid Merghit
Topics in Middle Eastern and North African Economies
Since its independence in 1962, Algeria, as an oil producing country, undertook the construction of a socialist economy supported by heavy industrialisation and substantial investment in human capital. This strategy of development was based on state-led industrialization, after it nationalized almost the whole economy in 1966. However, this policy focused on establishing large state enterprises and investing heavily in the public sector while not allowing any significant role for the private sector. This rapid industrialization resulted in severe inefficiencies in the productive capacity of various industries and generated fiscal imbalances in the mid-1970s, which constrained Algeria’s ability to continue its …
Regional Integration Effects On Investment And Growth In Algeria, Nacira Boukhezer
Regional Integration Effects On Investment And Growth In Algeria, Nacira Boukhezer
Topics in Middle Eastern and North African Economies
The positive effect of financial development on growth has led several authors to advocate the liberalization of the financial sector from the constraints caused by repressive policies disturbing its operation. This policy will theoretically promote financial deepening, which will positively impact growth through increased savings and its allocation to more profitable sectors. The new requirements of the global economy have made economic and financial systems more integrated and liberalized, encouraged by the formation of regional groupings. The partnership between Algeria and the European Union (EU) could be a way of convergence and development for the banking system which has long …
Do Tax Implications Change The Fisher Effect For The Turkish Economy?, Kenan Lopcu, Nuran Coşkun, Süleyman Değirmen
Do Tax Implications Change The Fisher Effect For The Turkish Economy?, Kenan Lopcu, Nuran Coşkun, Süleyman Değirmen
Topics in Middle Eastern and North African Economies
This study investigates the validity of both the conventional and tax-adjusted Fisher effects using time series methods such as the ARDL bounds test, and Gregory-Hansen (G-H) cointegration test. To compare the conventional and tax-adjusted Fisher effects, we use two different time series data for interest rates: 1) interest rates adjusted for taxes, and 2) interest rates not adjusted for taxes. Using monthly changes in quarterly and annual interest and inflation rates, both the G-H and ARDL bound tests support the conventional and tax-adjusted Fisher effects. However, the magnitude of the inflation coefficient in the long-run relationship tends to decline for …
Turkey’S Comparative Advantages And Dynamic Market Positioning In The Eu Market, Seda Ekmen-Özçelik, Güzin Erlat
Turkey’S Comparative Advantages And Dynamic Market Positioning In The Eu Market, Seda Ekmen-Özçelik, Güzin Erlat
Topics in Middle Eastern and North African Economies
No abstract provided.
The Impact Of Household Labor Supply Structure On Poverty, Serkan Değirmenci, Ipek Ilkkaracan
The Impact Of Household Labor Supply Structure On Poverty, Serkan Değirmenci, Ipek Ilkkaracan
Topics in Middle Eastern and North African Economies
Research mostly in the context of developed economies shows that the transformation of household structure from single male breadwinner families to dual earner families is associated with decreasing rates of poverty as well as lower levels of income inequality. This paper uses micro data from Turkish household income and budget surveys for 2003 and 2010 to examine to what extent household labor supply structure has an impact on family income, poverty and income inequality. We classify married couple households by labor supply of husbands and wives and explore any differentials in household income levels, poverty rates as well as income …
Oil Prices Once Again: The Link Towards Middle East Economies, Erhan Aslanoğlu, Pinar Deniz
Oil Prices Once Again: The Link Towards Middle East Economies, Erhan Aslanoğlu, Pinar Deniz
Topics in Middle Eastern and North African Economies
Recently, it is observed that current account surplus in oil exporting countries have been rising with the help of peaking oil prices. Expansionary monetary policies of major central banks boosting the speculation on commodity prices, political turmoil in Middle East region which is called the “Arab Spring,” and most importantly rising energy demand in the world economy due to high average growth rates of developing countries are argued to be the main reasons for the rising oil prices. This study aims to clarify the global stance of oil prices examining causes and how this affects Middle East economies (MEEs) separately …
Price Convergence And Globalization: Evidence From Selected Countries, Fatma Dogruel, A. Suut Dogruel
Price Convergence And Globalization: Evidence From Selected Countries, Fatma Dogruel, A. Suut Dogruel
Topics in Middle Eastern and North African Economies
MENA countries have been confronted with major social, economic and political changes during the last two decades. During this period some emerging countries and transition economies also experienced similar transformation at varying degrees. The transformation of the economic system has affected not only relative domestic prices but also the gap between domestic and international price levels. The paper focuses on how deviation of domestic prices from international market prices is affected by openness in the selected countries. The difference between domestic and international price level is calculated by employing purchasing power parity (PPP). The factors that may have an effect …
Gender Inequality In The Mena: Myths Versus Facts, Nezahat Kucuk
Gender Inequality In The Mena: Myths Versus Facts, Nezahat Kucuk
Topics in Middle Eastern and North African Economies
The study uses a cross-sectional data set for 209 countries in order to examine the relationship between gender inequality and its determinants, such as the economic development, information communication technology (ICT), education, and institutions in the Middle East and North Africa (MENA) region. We test whether the regulation of social life by Islamic norms and values is related to gender inequality and whether the impacts differ for the MENA countries, as well as Arab and Muslim majority countries. The study finds that the impact of gender inequality differs for the MENA, Arab and Muslim majority countries only when control variables …
Financial Services Liberalization In A Natural Resource Rich Economy, Hatem Samman, Sheikh Shahnawaz
Financial Services Liberalization In A Natural Resource Rich Economy, Hatem Samman, Sheikh Shahnawaz
Topics in Middle Eastern and North African Economies
One objective of the General Agreement on Trade in Services (GATS) of the World Trade Organization (WTO) is to achieve financial services liberalization in member countries. We assess the implications of such liberalization in the banking sectors of the Gulf Cooperation Council (GCC) countries. After providing an overview of the GCC banking sector, we discuss the GATS provisions relevant to financial services and present liberalization commitments and exemptions of these countries under the agreement. Using the observation that spikes in oil prices are accompanied with expansion in credit availability, we develop a simple model to formally explore the consequences of …
The Rise Of Political Islam Can The Turkish Model Be Applied Successfully In Egypt? By Dr Taha Kassem, Taha Kassem
The Rise Of Political Islam Can The Turkish Model Be Applied Successfully In Egypt? By Dr Taha Kassem, Taha Kassem
Topics in Middle Eastern and North African Economies
Although the parliamentary elections run in Egypt in December 2011- January 2012 indicated that Egypt is witnessing an era of political or democratic transformation, they signified the rise of political Islam to authority; the rise which created a lot of debates and posed a lot of questions about the political and economic future of Egypt. The core of these debates circles around these questions: Would Egypt adopt, literally, a rigid pro- Islamic type of rule based on the Islamic Sharia (Islamic Code) or would it adopt a moderate model, like that in Turkey, in its political and economic transformation? Pessimists …
Food Subsidy And The Social Assistance Program In Egypt; Targeting And Efficiency Assessment, Karima Korayem
Food Subsidy And The Social Assistance Program In Egypt; Targeting And Efficiency Assessment, Karima Korayem
Topics in Middle Eastern and North African Economies
This study assesses targeting efficiency and effectiveness of the two most important welfare programs in Egypt, the food subsidy program and the Social Assistance Program. The study uses two sources for data: field data for seven governorates in Egypt with the highest poverty ratio, and published data. It finds that the food subsidy program is fairly inefficient in targeting the lower income groups, especially in rural areas. Also, it is not well targeted on the governorates’ level. Upper Egypt governorates with the highest poverty ratios take less food subsidy, as compared to urban governorates with the lowest poverty levels. The …
Egypt And The Eu: An Assessment Of The Egyptian Euro-Mediterranean Partnership, Ashraf Saleh, Hanane F. Abouelkheir
Egypt And The Eu: An Assessment Of The Egyptian Euro-Mediterranean Partnership, Ashraf Saleh, Hanane F. Abouelkheir
Topics in Middle Eastern and North African Economies
When the Euro Mediterranean Partnership Agreement (EMP) between Egypt and the European Union came into force, it was the first regional agreement of this kind to involve north-southsouth developing and developed countries. This type of regional agreements opened the door for many challenges facing the participating countries especially the developing ones. Therefore, this article is mainly concerned with a detailed assessment of the Egypt-Euro Mediterranean partnership Agreement through analyzing its objectives and instruments, providing an overview of the Egyptian EU economic relationship and the Egyptian economy's benchmark data and basic economic indicators before and after the EMP. This article also …
The Egyptian Revolution And Post Socio-Economic Impact, Doaa S. Abdou, Zeinab Zaazou
The Egyptian Revolution And Post Socio-Economic Impact, Doaa S. Abdou, Zeinab Zaazou
Topics in Middle Eastern and North African Economies
The Egyptian revolution carries a challenging transition phase, starting out with problems such as low foreign direct investments (FDI), a high budget deficit, a high debt rate, a high unemployment rate, a high poverty rate, and a low standard of living. In addition, the budget deficit is expected to rise from 8.1% in 2009/10 close to 10% in 2010/11, as the interim government boosts spending to offset the impact of the political unrest. The temporary supply shortages that followed the upheaval, coupled with rising international prices of food and fuel have been adding to the pressure on the domestic price …
Youth Bulges, Poor Institutional Quality And Missing Migration Opportunities - Triggers Of And Potential Counter-Measures For Terrorism In Mena, Rahel Schomaker
Youth Bulges, Poor Institutional Quality And Missing Migration Opportunities - Triggers Of And Potential Counter-Measures For Terrorism In Mena, Rahel Schomaker
Topics in Middle Eastern and North African Economies
During the last few decades, a convolute of economic literature has emerged which focuses on the effects of demography, in particular the existence of so-called “youth bulges”, on economic growth and performance (for an overview see e.g. Bloom et al. 2001). The approach in our paper extends previous research to include potentially negative growth effects of a large share of young people in the Middle East and North Africa (MENA) not only via the “channel” of unemployment, but also through their potential as a “trigger” for political unrest and domestic terrorism, which have been identified in economic literature as important …
Fdi And Absorptive Capacity In Emerging Economies, Nagwa Hosny Khordagui, Gehan Saleh
Fdi And Absorptive Capacity In Emerging Economies, Nagwa Hosny Khordagui, Gehan Saleh
Topics in Middle Eastern and North African Economies
Inward FDI is believed to promote economic growth and transfer technology across countries. This led many economies to promote policies that encourage and support inward FDI. Researchers have been undertaking empirical research to determine whether inward FDI does in fact have the proclaimed effect on the economy. The findings from the studies on the spillover effects of FDI are mixed. More recent studies explain that it is not a matter of whether FDI influences the host country’s economy; but rather of whether the necessary factors for the existence of spillover effects are present. This raises the issue of what is …
What Can We Say About Turkey And Its Competitors In The Eu Market? An Analysis By Extensive And Intensive Margins, Seda Ekmen-Özçelik, Güzin Erlat
What Can We Say About Turkey And Its Competitors In The Eu Market? An Analysis By Extensive And Intensive Margins, Seda Ekmen-Özçelik, Güzin Erlat
Topics in Middle Eastern and North African Economies
No abstract provided.
Can Productivity Increases In The Distribution Sector Help Explain Tendency Of The Turkish Lira To Appreciate?, Fikret Dülger, Kenan Lopcu, Almıla Burgaç
Can Productivity Increases In The Distribution Sector Help Explain Tendency Of The Turkish Lira To Appreciate?, Fikret Dülger, Kenan Lopcu, Almıla Burgaç
Topics in Middle Eastern and North African Economies
The Balassa-Samuelson (B-S) hypothesis relies on the productivity differentials between tradable and non-tradable sectors to explain deviations in purchasing power parity. Within this framework, the relative productivity differences in tradable vis-à-vis non-tradable sectors between two countries will determine the long-run changes in the real exchange rate. However, Lopcu, Burgaç and Dülger, (2012) found that the relationship between the real effective exchange rate and productivity is not supported for the post 2001 era in Turkey. By testing the cointegration relationship between the real effective exchange rate, relative productivity differentials, real interest rate differentials and net foreign assets, using recently developed techniques …
The Arab Spring In The Mena Region: It Is Not The Economy!, José García Montalvo
The Arab Spring In The Mena Region: It Is Not The Economy!, José García Montalvo
Topics in Middle Eastern and North African Economies
No abstract provided.