Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/316082 
Year of Publication: 
2023
Citation: 
[Journal:] Review of Economics and Political Science (REPS) [ISSN:] 2631-3561 [Volume:] 8 [Issue:] 4 [Year:] 2023 [Pages:] 250-270
Publisher: 
Emerald, Bingley
Abstract: 
Purpose - This paper aims to investigate the relationship between global economic fluctuations and human development through four transmission channels (foreign direct investment (FDI), official development aid (ODA), remittances and export earnings) in Egypt as an open developing economy, in the period 1990-2015. Design/methodology/approach - The paper uses a vector autoregressive model, which implies examining the impulse response functions and variance decompositions. Findings - The results indicate that human development is negatively affected by global economic fluctuations through the four channels, namely, ODA, FDI, export earnings and remittances. In addition, the most effective transmission channels are FDI in the short run and export earnings in the long run. Originality/value - While a large body of literature addresses the direct impact of business cycles and economic shocks on human development, only some studies focus on the indirect impact. The contribution is to identify the indirect impact of global economic fluctuations on human development in a developing economy, considering four transmission channels and to determine the most important of these channels. Moreover, using the human development index is an addition in this paper as most previous literature depends on other human development indicators such as children's health, employment and schooling.
Subjects: 
Egypt
Global economic fluctuations
Human development
MENA
Transmission channels
VAR model
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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