Determinants of Growth in the Mena Countries .




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Determinants of Growth in the Mena Countries



العنوان: Determinants of Growth in the Mena Countries


الناشر : Arab Planning Institute - Kuwait

المؤلف (المؤلفين): Samir Makdisi,Zeki Fattah and Imed Limam

التاريخ: 2003

المحتويات :

The overall growth performance of the MENA region over the period 1960-1998 has been both mixed and characterized by a higher degree of volatility compared with other regions in the world. In comparing the growth pattern of the MENA region within an international perspective, we have found that: capital is less efficient; the natural resource curse more pronounced; trade openness less beneficial to growth; the impact of adverse external shocks higher; and the effect of output volatility on growth more detrimental. Total Factor Productivity Growth (TFPG) in the MENA region, was not an important source of growth in comparison with other regions. Non-oil and diversified economies have faired much better than oil-exporting countries both in terms of output growth and TFPG. Finally, the degree of exposure to internal and external shocks, the extent of economic diversification and international competitiveness, were found to be important factors explaining variations in growth performance within the MENA region.