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Finance–growth nexus in a changing political region

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dc.contributor.author Arayssi, Mahmoud
dc.contributor.author Fakih, Ali
dc.date.accessioned 2017-07-06T11:48:34Z
dc.date.available 2017-07-06T11:48:34Z
dc.date.copyright 2017 en_US
dc.identifier.issn 0313-5926 en_US
dc.identifier.uri http://hdl.handle.net/10725/5882
dc.description.abstract 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. en_US
dc.language.iso en en_US
dc.title Finance–growth nexus in a changing political region en_US
dc.type Article en_US
dc.description.version Published en_US
dc.title.subtitle How important was the Arab Spring? en_US
dc.author.school SOB en_US
dc.author.idnumber 199629330 en_US
dc.author.idnumber 201105198 en_US
dc.author.department Department of Finance and Accounting (FINA) en_US
dc.description.embargo N/A en_US
dc.relation.journal Economic Analysis and Policy en_US
dc.journal.volume 55 en_US
dc.article.pages 106-123 en_US
dc.keywords Finance–growth nexus en_US
dc.keywords Public governance en_US
dc.keywords Arab Spring en_US
dc.keywords Panel data en_US
dc.identifier.doi https://doi.org/10.1016/j.eap.2017.05.001 en_US
dc.identifier.ctation 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 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 http://www.sciencedirect.com/science/article/pii/S0313592616301084 en_US
dc.orcid.id https://orcid.org/0000-0002-1816-8835
dc.orcid.id https://orcid.org/0000-0002-8562-3308 en_US
dc.author.affiliation Lebanese American University en_US


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