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Determinants Of Economic Success In The Middle East And North Africa

Author

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  • Felina B. Duncan
  • Zulal S. Denaux

Abstract

Periodically referred to as the cradle of civilization, an adage reflecting its past economic success and growth, the Middle East and North Africa region continues to serve as an international focal point, albeit a disappointing one in light of its economic potential. Therefore, the purpose of this study is to utilize regression analysis to reexamine the impact of initial conditions, human capital, the investment ratio, macroeconomic performance, trade openness, life expectancy, and natural resource abundance on the growth of the Middle East and North Africa region’s real GDP per capita in light of recent events, namely the widespread civilian protests, demonstrations, and toppled dictatorships across the Arab World where high unemployment, security states, a weak private sector, volatile external revenues, and a disproportionate concentration of power in the hands of a few have been the norm for decades.

Suggested Citation

  • Felina B. Duncan & Zulal S. Denaux, 2013. "Determinants Of Economic Success In The Middle East And North Africa," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 7(5), pages 25-34.
    • Handle: RePEc:ibf:gjbres:v:7:y:2013:i:5:p:25-34
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    References listed on IDEAS

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    1. repec:hal:wpspec:info:hdl:2441/8329 is not listed on IDEAS
    2. Neaime Simon, 2005. "Financial Market Integration and Macroeconomic Volatility in the MENA Region: An Empirical Investigation," Review of Middle East Economics and Finance, De Gruyter, vol. 3(3), pages 59-83, December.
    3. Mustapha Kamel Nabli, 2007. "Breaking the Barriers to Higher Economic Growth : Better Governance and Deeper Reforms in the Middle East and North Africa," World Bank Publications - Books, The World Bank Group, number 6914.
    4. Bernard Hoekman & Patrick Messerlin, 2002. "Initial conditions and incentives for Arab economic integration : can the European Community's success be emulated?," Working Papers hal-03607662, HAL.
    5. Harrison, Ann, 1996. "Openness and growth: A time-series, cross-country analysis for developing countries," Journal of Development Economics, Elsevier, vol. 48(2), pages 419-447, March.
    6. Pamuk, Şevket, 2006. "Estimating Economic Growth in the Middle East since 1820," The Journal of Economic History, Cambridge University Press, vol. 66(3), pages 809-828, September.
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    Cited by:

    1. Emara, Noha & El Said, Ayah, 2021. "Financial inclusion and economic growth: The role of governance in selected MENA countries," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 34-54.

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    More about this item

    Keywords

    Economic Growth; MENA Region; Human Capital; Panel Estimation;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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