Government and Financial Institutional Determinants of Development in MENA Countries

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dc.contributor.author Arayssi, Mahmoud
dc.contributor.author Fakih, Ali
dc.contributor.author Kassem, Mohamad
dc.date.accessioned 2019-06-13T11:30:46Z
dc.date.available 2019-06-13T11:30:46Z
dc.date.copyright 2019 en_US
dc.date.issued 2019-06-13
dc.identifier.issn 1540-496X en_US
dc.identifier.uri http://hdl.handle.net/10725/10807 en_US
dc.description.abstract This article aims to examine the causal impact of the Arab Spring (AS) and government institutions on the finance–growth nexus. The empirical analysis is implemented for extensive firm-level panel data combined with national data covering macroeconomic and institutional factors for the period 2005–2014, starting 6 years before and continuing after the AS. Using Difference-in-Difference method, we analyze the effect of the AS. Evidence points to financial development as a strong positive contributor to growth. The analysis also indicates that the AS dampens growth. These results seem to suggest that political instability adversely affects growth; nevertheless, a well-functioning financial system is a necessary but not a sufficient condition to enhance growth. Therefore, policies aiming at improving the efficiency and the operation of institutions such as a country’s legal system, citizen’s participation in selecting government, freedom of expression, and the stage of financial development should persist over an extended period of time, in order to bear fruition and achieve a significant success in boosting economic growth and reducing poverty. en_US
dc.language.iso en en_US
dc.title Government and Financial Institutional Determinants of Development in MENA Countries en_US
dc.type Article en_US
dc.description.version Published en_US
dc.author.school SOB en_US
dc.author.idnumber 199629330 en_US
dc.author.idnumber 201105198 en_US
dc.author.department Finance And Accounting en_US
dc.description.embargo N/A en_US
dc.relation.journal Emerging Markets Finance and Trade en_US
dc.journal.volume 55 en_US
dc.journal.issue 11 en_US
dc.article.pages 2473-2496 en_US
dc.keywords DID estimator en_US
dc.keywords Financial development en_US
dc.keywords Growth en_US
dc.keywords Institutions en_US
dc.keywords MENA region en_US
dc.identifier.doi https://doi.org/10.1080/1540496X.2018.1507907 en_US
dc.identifier.ctation Arayssi, M., Fakih, A., & Kassem, M. (2019). Government and Financial Institutional Determinants of Development in MENA Countries. Emerging Markets Finance and Trade, 55(11), 2473-2496. en_US
dc.author.email mahmoud.araissi@lau.edu.lb en_US
dc.author.email AFakih@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url https://www.tandfonline.com/doi/full/10.1080/1540496X.2018.1507907 en_US
dc.orcid.id https://orcid.org/0000-0002-1816-8835 en_US
dc.orcid.id https://orcid.org/0000-0002-8562-3308 en_US
dc.author.affiliation Lebanese American University en_US

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