Financial Development and Economic Growth in the MENA Region

Hassan Hamadi and Charbel Bassil
Additional contact information
Hassan Hamadi: Department of Accounting, Finance and Economics, Notre Dame University-Louaize, Zouk Mosbeh, Keserwan 72-Zouk Mikeal, Lebanon. E-mails: hhamadi@ndu.edu.lb; cbassil@ndu.edu.lb

Comparative Economic Studies, 2015, vol. 57, issue 4, 598-622

Abstract: This paper investigates the impact of stock markets and banks on economic growth in the Middle East and North African (MENA) countries. The sample comprises a panel data from 13 MENA countries over the period 1988–2009. This paper uses recent GMM techniques developed for dynamic panels. The findings suggest that stock markets and banks positively influence economic growth in the MENA countries only during periods of stability. Our results are robust to several specifications and potential biases induced by simultaneity, omitted variables and unobserved country specific effects.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://www.palgrave-journals.com/ces/journal/v57/n4/pdf/ces201521a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/ces/journal/v57/n4/full/ces201521a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
Journal Article: Financial Development and Economic Growth in the MENA Region (2015)
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:pal:compes:v:57:y:2015:i:4:p:598-622

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41294/PS2

Access Statistics for this article

Comparative Economic Studies is currently edited by Nauro Campos

More articles in Comparative Economic Studies from Palgrave Macmillan, Association for Comparative Economic Studies Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().