Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/212753
Authors: 
Herrala, Risto
Turk-Ariss, Rima
Year of Publication: 
2012
Series/Report no.: 
BOFIT Discussion Papers No. 29/2012
Abstract: 
The Arab Spring is a clear indicator of the urgency of achieving inclusive growth and ensuring job creation in the Middle East and North Africa (MENA) region, where private sector development is still hindered by limited access to credit. Following Kiyotaki and Moore's (1997) seminal model, we apply a novel methodological approach to a unique data set of MENA firms to estimate credit limits and their impacts on capital accumulation. Notably, we find higher credit limits in countries where the Arab Spring erupted than in other MENA countries and that their marginal effect on capital accumulation has been statistically and economically significant.
Subjects: 
financing constraints
credit limits
MENA countries
JEL: 
G31
L20
O16
Persistent Identifier of the first edition: 
ISBN: 
978-952-462-760-3
Document Type: 
Working Paper

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