EconPapers    
Economics at your fingertips  
 

Institutions and development in MENA region: evidence from the manufacturing sector

Mahmoud Arayssi and Ali Fakih ()

International Journal of Social Economics, 2015, vol. 42, issue 8, 717-732

Abstract: Purpose - – The purpose of this paper is to study the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the Middle East and North Africa region. Design/methodology/approach - – This paper examines the implications of industrial firm-related and national factors for the determinants of economic growth using panel data through a fixed effect model. Findings - – The results reveal that English civil law origin and the establishment of the rule of law work with the development of financial institutions to increase economic growth in these economies; however, the democratization of the political institutions and foreign direct investment do not assist financial development in promoting economic growth. Research limitations/implications - – Data covered is limited to four years. Social implications - – The findings emphasize the prominence of overcoming institutional weaknesses and establishing transparent public policy governing businesses as a pre-requisite for successful universal integration in developing countries. Originality/value - – This paper contributes to the literature on the relationship between finance and economic growth in two aspects. First, the authors focus on the contribution of the institutional setting and its interaction with the financial development and how this affects economic growth of the manufacturing firms. Second, the authors explore the relationship between the role of institutions, governance, the country civil law origin and the economic growth.

Keywords: MENA region; Financial development; Economic growth; Institutional development (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://www.emeraldinsight.com/10.1108/IJSE-07-2014 ... RePEc&WT.mc_id=RePEc (text/html)
Access to full text is restricted to subscribers

Related works:
Working Paper: Institutions and Development in MENA Region: Evidence from the Manufacturing Sector (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:ijsepp:v:42:y:2015:i:8:p:717-732

Ordering information: This journal article can be ordered from
Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
http://www.emerald.com/ijse.htm

Access Statistics for this article

International Journal of Social Economics is currently edited by Dr Colin Tyler and James Connelly

More articles in International Journal of Social Economics from Emerald Group Publishing
Bibliographic data for series maintained by Virginia Chapman ().

 
Page updated 2021-04-23
Handle: RePEc:eme:ijsepp:v:42:y:2015:i:8:p:717-732