Empirical results over the period 1971–2013 suggest that GDP per capita and energy consumption show positive RSs, while trade and urban population negative ones. This paper examines the relationship among carbon dioxide (CO2) emissions, GDP, and energy in the Middle East and North Africa (MENA) countries by using a Responsiveness Scores (RS) approach. Our results are robust to various changes in estimator, sample composition or measurement of instability. The emergence of non-traditional sources of European FDI is, however, a positive evolution since Eastern and Central European investment to MENA countries is less sensitive to host and source country macroeconomic volatility that traditional Western and southern European sources tend to be. We also find that 1995's Barcelona agreement has reinforced MENA countries' vulnerability to European short- and medium-term macroeconomic cycles. In the case of MENA economies, source country output volatility's adverse impact on FDI is counterbalanced by the positive attraction effect of domestic swings of activity. income effect for European Transnational corporations. We find that European investment to our MENA host countries is higher, the lower the source country output volatility, thereby supporting the existence of an. In a gravity set-up, we analyze FDI flows from European Union to MENA economies. Macroeconomic determinants of FDI are seldom analyzed from the perspective of source countries, priority being generally given to host country characteristics. Therefore, investigation over different period and more countries have been suggested. But the results in this research project show that, in MENA countries and in this period, the more increase in political stability will contribute to more inflation tax, which, this result is not acceptable that is because of the increasing in government's expenditures, especially non-productive government expenditures and insufficient tax revenues to finance them. In other words, t he higher is the political stability, the lower will be the inflation tax. Our findings based on a panel data regression model support the view of a negative relationship between political stability and inflation tax. We have also used an index for political stability, named Political Stability and Absence of. To do so, we concentrated on a sample of 17 countries for which the necessary data were available for the period 2003-2008. The purpose of the present paper is to investigate the impact of political stability on inflation tax in selected developing countries located in the Middle East and North Africa.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |