Financing for Development in the MENA Region

Ali Awdeh ()

Review of Middle East Economics and Finance, 2018, vol. 14, issue 3, 14

Abstract: Financing for Development was addressed by the international community since more than 25 years, when the Monterrey Consensus of the International Conference on Financing for Development (Monterrey, Mexico, March 2002) urged mobilising and increasing the effective use of financial resources to fulfil the internationally agreed Millennium Development Goals. In 2015, a new Development Agenda was designed and was based on the Development Finance. Consequently, the efficient exploitation of traditional and innovative finance resources in economic, social and human development has become a global top priority. This study analyses the impact of 7 resources of financial flows on 6 socio-economic variables in a sample of 19 MENA countries over the period 1991–2015 to test the efficient exploitation of these resources in development. The results show that government spending and official development assistance are the most important factor in boosting development in the MENA region. International trade plays a limited role in financing development, whereas foreign direct investment has the least effect on MENA development.

Keywords: financing for development; MENA region; panel data (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1515/rmeef-2017-0036

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