Complementarity between private capital flows and the development of regulatory institutions:Empirical evidence for North African countries

Bouzayani Rajab and Abida Zouheir
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Bouzayani Rajab: University of Sfax,Faculty of Economics and Management of Sfax,Tunisia
Abida Zouheir: University of Sfax,Faculty of Economics and Management of Sfax,Tunisia

Romanian Journal of Economics, 2024, vol. 59, issue 2(68), 192-205

Abstract: Private capital flows are seen as factors for growth, development and the emergence of economies, which is why host country officials are putting in place incentive policies to attract the maximum foreign resources. This study analyzes the complementary relationship between private capital flows and the development of regulatory institutions and their effect in strengthening the level of economic growth in North African countries over the period from 1995 to 2020. The results of the regression of dynamic panel data by the econometric technique GMM clearly show the significant contribution of private capital flows and regulatory institutions to the improvement of the level of economic growth. The important relationship of complementarity between regulatory institutions and private capital in strengthening economic growth can be observed. This observation is due to the increased effect of private capital flows on economic growth.

Keywords: private capital flows; institutional development; economic growth; GMM (search for similar items in EconPapers)
JEL-codes: C23 E2 O47 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:59:y:2024:i:68:p:192-205

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