Governance and Private Investment in the Middle East and North AfricaWorld Bank Publications, 2006 - Всего страниц: 64 "This paper addresses the issue of the low level of private investment in the Middle East and North Africa (MENA) region, with special emphasis on the role of governance. Based on the existing literature, the authors categorize what types of governance institutions are more detrimental to entrepreneurial investments. They then estimate a simultaneous model of private investment and governance quality where economic policies concurrently explain both variables. The empirical results show that governance plays a significant role in private investment decisions. This result is particularly true in the case of "administrative quality" in the form of control of corruption, bureaucratic quality, investment-friendly profile of administration, and law and order, as well as for "political stability." Evidence in favor of "public accountability" seems, however, less robust. The estimations also stress that structural reforms-such as financial development and trade openness-and human development affect private investment decisions directly, and/or through their positive impact on governance. These findings bring new empirical evidence on the subject of private investment in the developing world and in MENA countries in particular. "--World Bank web site. |
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Governance and Private Investment in the Middle East and North Africa Ahmet Faruk Aysan,Mustapha K. Nabli Недоступно для просмотра - 2006 |
Часто встречающиеся слова и выражения
Acemoglu Administrative Quality aggregate indicator Annex better governance institutions bureaucratic quality calculations Civil Liberties coefficient Component Eigenvalue Cumulative data set decisions to invest democratic institutions determinants of private developing countries East and North Economic Growth economic performances economic policies Endogenous endogenous variables Ethnic Tensions factors financial development firms Fraser Institute Freedom House GDP per capita governance GOV governance indicators governance quality Government Stability human capital ICRG indicator of governance International Finance Corporation International Monetary Fund investment climate investment equation Investment Profile investors Journal of Economic Keefer Loadings P1 P2 MENA countries neoclassical North Africa oil export Paper percent of GDP Political Rights Political Stability principal component analysis Priv Inv private investment decisions private investment series Public Accountability Quality of Administration Quality of Bureaucracy quality of governance reforms and human Resource rents result role significant standard deviation Table trade openness trade policy Trebbi Tunisia Washington D.C. World Bank