Are Governance Institutions Responsible for Deficient Private Investment in the Middle East and North Africa?

Marie-Ange Véganzonès, Ahmet Aysan and M.K. Nabli

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Abstract: This paper empirically shows, for a panel of 31 developing countries studied during the 1980s and the 1990s, that governance institutions constitute an important part of the investment climate of the developing economies. This result strongly holds for the "Quality of Administration" and confirms that a low level of corruption, a good quality of bureaucracy, a reliable judiciary, a strong security of property rights, a reasonable risk to operations, as well as a sound taxation and regulation contribute significantly to the firms' decision to invest. In Middle East and North Africa, improved governance institutions would greatly stimulate private investment decisions.

Date: 2006
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Published in Vol. XV, Erdener K. et Talha H. (Eds.). International Management Development Yearbook, The Haworth Press of New York, London and Oxford, pp.124-130, 2006

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00116854

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