DETERMINANTS OF ECONOMIC SUCCESS IN THE MIDDLE EAST AND NORTH AFRICA

Felina B. Duncan and Zulal S. Denaux

Global Journal of Business Research, 2013, vol. 7, issue 5, 25-34

Abstract: Periodically referred to as the cradle of civilization, an adage reflecting its past economic success and growth, the Middle East and North Africa region continues to serve as an international focal point, albeit a disappointing one in light of its economic potential. Therefore, the purpose of this study is to utilize regression analysis to reexamine the impact of initial conditions, human capital, the investment ratio, macroeconomic performance, trade openness, life expectancy, and natural resource abundance on the growth of the Middle East and North Africa region’s real GDP per capita in light of recent events, namely the widespread civilian protests, demonstrations, and toppled dictatorships across the Arab World where high unemployment, security states, a weak private sector, volatile external revenues, and a disproportionate concentration of power in the hands of a few have been the norm for decades.

Keywords: Economic Growth; MENA Region; Human Capital; Panel Estimation (search for similar items in EconPapers)
JEL-codes: C23 O11 O15 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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