Finance–growth nexus in a changing political region
In the context of the Arab Spring, which started in 2011 and overcame the Middle East and North Africa (MENA) countries, this paper examines the growth effects of financial development, controlling for distinct macroeconomic environments, governance levels, and authoritarian regimes across MENA by u...
محفوظ في:
| المؤلف الرئيسي: | |
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| مؤلفون آخرون: | |
| التنسيق: | article |
| منشور في: |
2017
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| الوصول للمادة أونلاين: | http://hdl.handle.net/10725/5882 https://doi.org/10.1016/j.eap.2017.05.001 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.sciencedirect.com/science/article/pii/S0313592616301084 |
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| _version_ | 1864513478180470784 |
|---|---|
| author | Arayssi, Mahmoud |
| author2 | Fakih, Ali |
| author2_role | author |
| author_facet | Arayssi, Mahmoud Fakih, Ali |
| author_role | author |
| dc.creator.none.fl_str_mv | Arayssi, Mahmoud Fakih, Ali |
| dc.date.none.fl_str_mv | 2017-07-06T11:48:34Z 2017-07-06T11:48:34Z 2017 2017-07-06 |
| dc.identifier.none.fl_str_mv | 0313-5926 http://hdl.handle.net/10725/5882 https://doi.org/10.1016/j.eap.2017.05.001 Arayssi, M., & Fakih, A. (2017). Finance-growth nexus in a changing political region: How important was the Arab Spring?. Economic Analysis and Policy, 55, 106-123 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.sciencedirect.com/science/article/pii/S0313592616301084 |
| dc.language.none.fl_str_mv | en |
| dc.relation.none.fl_str_mv | Economic Analysis and Policy |
| dc.rights.*.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.title.none.fl_str_mv | Finance–growth nexus in a changing political region How important was the Arab Spring? |
| dc.type.none.fl_str_mv | Article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/article |
| description | In the context of the Arab Spring, which started in 2011 and overcame the Middle East and North Africa (MENA) countries, this paper examines the growth effects of financial development, controlling for distinct macroeconomic environments, governance levels, and authoritarian regimes across MENA by using the Arellano–Bond dynamic panel estimation for 2005–2014. The results identify mitigating factors in MENA’s finance–growth relationships. Moreover, they show that the impact of finance on growth was positive pre-Arab Spring, but lost some of its significance post the Arab Spring, as some macroeconomic indicators improved, while others worsened. However, governance variables show significant improvement post-Arab Spring. These findings suggest that the financial development–growth nexus is contingent on socio-political reforms that shift the paradigm of institutional quality. Finally, this paper also discusses certain policies that may improve the efficiency of financial institutions and the government in generating inclusive economic growth. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | LAURepo_79280e87537e43e99ac7667a2a842efa |
| identifier_str_mv | 0313-5926 Arayssi, M., & Fakih, A. (2017). Finance-growth nexus in a changing political region: How important was the Arab Spring?. Economic Analysis and Policy, 55, 106-123 |
| language_invalid_str_mv | en |
| network_acronym_str | LAURepo |
| network_name_str | Lebanese American University repository |
| oai_identifier_str | oai:laur.lau.edu.lb:10725/5882 |
| publishDate | 2017 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | Finance–growth nexus in a changing political regionHow important was the Arab Spring?Arayssi, MahmoudFakih, AliIn the context of the Arab Spring, which started in 2011 and overcame the Middle East and North Africa (MENA) countries, this paper examines the growth effects of financial development, controlling for distinct macroeconomic environments, governance levels, and authoritarian regimes across MENA by using the Arellano–Bond dynamic panel estimation for 2005–2014. The results identify mitigating factors in MENA’s finance–growth relationships. Moreover, they show that the impact of finance on growth was positive pre-Arab Spring, but lost some of its significance post the Arab Spring, as some macroeconomic indicators improved, while others worsened. However, governance variables show significant improvement post-Arab Spring. These findings suggest that the financial development–growth nexus is contingent on socio-political reforms that shift the paradigm of institutional quality. Finally, this paper also discusses certain policies that may improve the efficiency of financial institutions and the government in generating inclusive economic growth.PublishedN/A2017-07-06T11:48:34Z2017-07-06T11:48:34Z20172017-07-06Articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article0313-5926http://hdl.handle.net/10725/5882https://doi.org/10.1016/j.eap.2017.05.001Arayssi, M., & Fakih, A. (2017). Finance-growth nexus in a changing political region: How important was the Arab Spring?. Economic Analysis and Policy, 55, 106-123http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.phphttp://www.sciencedirect.com/science/article/pii/S0313592616301084enEconomic Analysis and Policyinfo:eu-repo/semantics/openAccessoai:laur.lau.edu.lb:10725/58822021-03-19T09:10:11Z |
| spellingShingle | Finance–growth nexus in a changing political region Arayssi, Mahmoud |
| status_str | publishedVersion |
| title | Finance–growth nexus in a changing political region |
| title_full | Finance–growth nexus in a changing political region |
| title_fullStr | Finance–growth nexus in a changing political region |
| title_full_unstemmed | Finance–growth nexus in a changing political region |
| title_short | Finance–growth nexus in a changing political region |
| title_sort | Finance–growth nexus in a changing political region |
| url | http://hdl.handle.net/10725/5882 https://doi.org/10.1016/j.eap.2017.05.001 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.sciencedirect.com/science/article/pii/S0313592616301084 |