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Exploring the Financial Development and Economic Complexity Nexus in MENA Countries: Does Corruption Matter?

In: Handbook of Banking and Finance in the MENA Region

Author

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  • Mondjeli Mwa Ndjokou Itchoko Motande
  • Valentine Soumtang Bime
  • Agathe Cassandra Koumis Ngagni

Abstract

This chapter aims to assess the effect of corruption on the relationship between financial development and economic complexity in MENA. To this end, we estimate a panel data model on 21 MENA countries between 1995 and 2020 using the double least squares method. Over-all, the analysis shows significant heterogeneous results conditional on corruption. Specifically, corruption worsens the effect of financial access, and the depth and efficiency of economic complexity over the sample period. In contrast, it improves the effect of financial stability on economic complexity in the region. The results appear to be robust to an alternative estimation technique.

Suggested Citation

  • Mondjeli Mwa Ndjokou Itchoko Motande & Valentine Soumtang Bime & Agathe Cassandra Koumis Ngagni, 2024. "Exploring the Financial Development and Economic Complexity Nexus in MENA Countries: Does Corruption Matter?," World Scientific Book Chapters, in: Khaled Hussainey & Tamanna Dalwai (ed.), Handbook of Banking and Finance in the MENA Region, chapter 14, pages 353-379, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614734_0014
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    More about this item

    Keywords

    MENA; Banking Sector; Business Risk; Corporate Governance; COVID-19; Cryptocurrency; Fintech; Financial Stability; Green Finance;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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