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Anis Omri - One of the best experts on this subject based on the ideXlab platform.

  • financial development environmental quality trade and economic growth what causes what in MENA Countries
    2015
    Co-Authors: Anis Omri, Christophe Rault, Saida Daly, Anissa Chaibi
    Abstract:

    This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA Countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness are interrelated i.e. bidirectional causality. Feedback hypothesis is validated between trade openness and financial development. Neutrality hypothesis is identified between CO2 emissions and financial development. Unidirectional causality running from financial development to economic growth and from trade openness to CO2 emissions is identified. Our empirical results also verified the existence of environmental Kuznets curve. These empirical insights are of particular interest to policymakers as they help build sound economic policies to sustain economic development and to improve the environmental quality.

  • the nexus among foreign investment domestic capital and economic growth empirical evidence from the MENA region
    Research in Economics, 2014
    Co-Authors: Anis Omri, Bassem Kahouli
    Abstract:

    Abstract The objective of this paper is to estimate an econometric model for analyzing the interrelationship among foreign direct investment, domestic capital and economic growth in 13 MENA Countries by using a ‘growth model’ framework and simultaneous-equation models estimated by the generalized method of moments (GMM) during the period 1990–2010. Our empirical results show that there is bi-directional causal relationship between foreign investment and economic growth, as well as domestic capital and economic growth, and there is uni-directional causal relationship from foreign direct investment to domestic capital for the region as a whole.

  • co2 emissions energy consumption and economic growth nexus in MENA Countries evidence from simultaneous equations models
    Energy Economics, 2013
    Co-Authors: Anis Omri
    Abstract:

    Abstract This paper examines the nexus between CO 2 emissions, energy consumption and economic growth using simultaneous-equations models with panel data of 14 MENA Countries over the period 1990–2011. Our empirical results show that there exists a bidirectional causal relationship between energy consumption and economic growth. However, the results support the occurrence of unidirectional causality from energy consumption to CO 2 emissions without any feedback effects, and there exists a bidirectional causal relationship between economic growth and CO 2 emissions for the region as a whole. The study suggests that environmental and energy policies should recognize the differences in the nexus between energy consumption and economic growth in order to maintain sustainable economic growth in the MENA region.

  • co2 emissions energy consumption and economic growth nexus in MENA Countries evidence from simultaneous equations models
    MPRA Paper, 2013
    Co-Authors: Anis Omri
    Abstract:

    This paper examines the nexus between CO2 emissions, energy consumption and economic growth using simultaneous-equations models with panel data of 14 MENA Countries over the period 1990-2011. Our empirical results show that there exists bidirectional causal relationship between energy consumption and economic growth. However, the results support the occurrence of unidirectional causality from energy consumption to CO2 emissions without any feedback effects, and there exists bidirectional causal relationship between economic growth and CO2 emissions for the region as a whole. The study suggests that environmental and energy policies should recognize the differences in the nexus between energy consumption and economic growth in order to maintain sustainable economic growth in MENA region.

Christophe Rault - One of the best experts on this subject based on the ideXlab platform.

  • financial development environmental quality trade and economic growth what causes what in MENA Countries
    2015
    Co-Authors: Anis Omri, Christophe Rault, Saida Daly, Anissa Chaibi
    Abstract:

    This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA Countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness are interrelated i.e. bidirectional causality. Feedback hypothesis is validated between trade openness and financial development. Neutrality hypothesis is identified between CO2 emissions and financial development. Unidirectional causality running from financial development to economic growth and from trade openness to CO2 emissions is identified. Our empirical results also verified the existence of environmental Kuznets curve. These empirical insights are of particular interest to policymakers as they help build sound economic policies to sustain economic development and to improve the environmental quality.

  • international financial integration and real exchange rate long run dynamics in emerging Countries some panel evidence
    Journal of International Trade & Economic Development, 2011
    Co-Authors: Guglielmo Maria Caporale, Thouraya Hadj Amor, Christophe Rault
    Abstract:

    The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing Countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004, and carries out “second-generation” tests for non-stationary panels. Several factors, including international financial integration, are shown to drive the long-run RER in emerging Countries. It is found that the new financial environment characterised by international financial integration leads to a depreciation of the RER in the long run. Further, RER misalignments take the form of an under-valuation in most MENA Countries and an over-valuation in most Latin American and Asian Countries.

  • international financial integration and real exchange rate long run dynamics in emerging Countries
    2009
    Co-Authors: Guglielmo Maria Caporale, Christophe Rault, Thouraya Hadj Amor
    Abstract:

    The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing Countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004, and carries out "second-generation" tests for non-stationary panels. Several factors, including international financial integration, are shown to drive the long-run RER in emerging Countries. It is found that the new financial environment characterised by international financial integration leads to a depreciation of the RER in the long run. Further, RER misalignments take the form of an under-valuation in most MENA Countries and an over-valuation in most Latin American and Asian Countries

  • purchasing power parity for developing and developed Countries what can we learn from non stationary panel data models
    Journal of Economic Surveys, 2008
    Co-Authors: Imed Drine, Christophe Rault
    Abstract:

    The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 developed and developing Countries. We find that strong PPP is verified for OECD Countries and weak PPP for MENA Countries. However in African, Asian, Latin American and Central and Eastern European Countries, PPP does not seem relevant to characterize the long-run behavior of the real exchange rate. Further investigations indicate that the nature of the exchange rate regime doesn't condition the validity of PPP which is more easily accepted in Countries with high than low inflation.

Pervaiz Akhtar - One of the best experts on this subject based on the ideXlab platform.

  • the long run relationships between transport energy consumption transport infrastructure and economic growth in MENA Countries
    Transportation Research Part A-policy and Practice, 2018
    Co-Authors: Samir Saidi, Muhammad Shahbaz, Pervaiz Akhtar
    Abstract:

    Abstract This paper investigates the impact of transport energy consumption and transport infrastructure on economic growth by utilizing panel data on MENA Countries (the Middle East and North Africa region) for the period of 2000–2016. The MENA region panel is divided into three sub-groups of Countries: GCC panel (containing the Gulf Cooperation Council Countries), N-GCC panel (containing Countries that are not members of the Gulf Cooperation Council), and North African Countries (called MATE—Morocco, Algeria, Tunisia and Egypt). Using the Generalized Method of Moments (GMM), we find that transport energy consumption significantly adds to economic growth in MENA, N-GCC and MATE regions. Transport infrastructure positively contributes to economic growth in all regions. The Dumitrescu-Hurlin panel causality analysis shows the feedback effect of transport energy consumption and transport infrastructure with economic growth. The empirical results add a new dimension to the importance of investing in modern infrastructure that facilitates the use of more energy-efficient modes and alternative technologies that positively affect the economy with minimizing negative externalities.

Tigran Poghosyan - One of the best experts on this subject based on the ideXlab platform.

  • oil prices and bank profitability evidence from major oil exporting Countries in the middle east and north africa
    Social Science Research Network, 2016
    Co-Authors: Heiko Hesse, Tigran Poghosyan
    Abstract:

    This chapter analyzes the relationship between oil price shocks and bank profitability. Using data on 145 banks in 11 oil-exporting Middle East and North Africa (MENA) Countries for 1994–2008, we test hypotheses of direct and indirect effects of oil price shocks on bank profitability. Our results indicate that oil price shocks have indirect effect on bank profitability, channeled through country-specific macroeconomic and institutional variables, while the direct effect is insignificant. Among organizational forms, investment banks appear to be the most affected ones compared to Islamic and commercial banks. Our findings highlight systemic implications of oil price shocks on bank performance and underscore their importance for macro prudential regulation purposes in MENA Countries.

  • oil prices and bank profitability evidence from major oil exporting Countries in the middle east and north africa
    IMF Working Papers, 2009
    Co-Authors: Heiko Hesse, Tigran Poghosyan
    Abstract:

    This paper analyzes the relationship between oil price shocks and bank profitability. Using data on 145 banks in 11 oil-exporting MENA Countries for 1994-2008, we test hypotheses of direct and indirect effects of oil price shocks on bank profitability. Our results indicate that oil price shocks have indirect effect on bank profitability, channeled through country-specific macroeconomic and institutional variables, while the direct effect is insignificant. Investment banks appear to be the most affected ones compared to Islamic and commercial banks. Our findings highlight systemic implications of oil price shocks on bank performance and underscore their importance for macroprudential regulation purposes in MENA Countries.

Thouraya Hadj Amor - One of the best experts on this subject based on the ideXlab platform.