Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/107558
Authors: 
Arayssi, Mahmoud
Fakih, Ali
Year of Publication: 
2015
Series/Report no.: 
IZA Discussion Papers 8772
Abstract: 
This paper examines 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 (MENA) region using panel data through a fixed effect model. 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. 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.
Subjects: 
economic growth
institutional development
financial development
MENA region
JEL: 
G2
O16
P48
Document Type: 
Working Paper

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