CAN MARKET CONTESTABILITY RELIEVE ECONOMIC STRESS IN ARAB SPRING COUNTRIES
Loading...
Date
2012-07
Journal Title
Journal ISSN
Volume Title
Type
Article
Publisher
Research Science Press
Series Info
Journal of International Business & Finance;Vol. 4, No. 2, (2012): 83-91
Doi
Scientific Journal Rankings
Abstract
This study examines the effects of overall contestability OCI
on economic growth in some Arab countries. The econometric
methodology follows the cross-country studies with empirical application
to a panel of 4 Arab Spring countries observed over the period 1995 to
2011. Panel regressions are carried out using the fixed-effects model. The
aim is to provide an empirical evidence for the driving forces of Arab
Springrevolutions. The results show that overall contestability is
significantly and negatively related to GDP percapita. By testing the
relation between overall contestability and principal economic stress
variables, inflation provided significant negative relation but
unemployment did not. Adding Granger causality tests showed that:
first a unidirectional relationship between GDP per capita and inflation,
and second a unidirectional relation between each ofinflation and
unemployment on one hand and OCI on the other hand.
Description
MSA GOOGLE SCHOLAR
Keywords
October University for university of overall contestability, growth, economic stress, Arab countries, causality
Citation
Baumol, W. J. , J. C. Panzar, and R. D. Willig (1982), Contestable Markets and the Theory ofIndustrial Structure. New York, Harcourt-Brace, Jovanovich, Inc. Baumol, William and KyuSik Lee. (1991), Contestable Markets, Trade and Development, World Bank Research Observer, Vol. 6, No. 1., p. 2. Bikker J., Spierdijk J. and Finniec P. (2007), The Impact of Market Structure, Contestability and Institutional Environment on Banking Competition. Tjalling C. Koopmans Research Institute. Discussion Paper Series 07-29. Engle R. F. and Granger, C. W. J. (1987), Co-integration and Error Correction: Representation, Estimation, and Testing”. Econometrica, 55, pp. 251-76. Index of Economic Freedom (2011), The Heritage Foundation and Wall Street Journal, Dow Jones & Company, Inc. Available at: http://www. heritage. org/ Mahboub, A. and Salman, D. (2007), ICT, Market Contestability and Economic Performance: Lessons from ERF Countries. 14th Annual Conference: 28th - 30th December 2007 Cairo, Egypt. Shepherd, William G. (1984), Contestability’ vs. Competition. American Economic Review 74, pp. 572-87. Steve, H. (2012), Economic Indicators for the Arab Spring. Retrieved 2012 Available at: from http://asithappens. spaces. wooster. edu/economic-indicators-for-the-arab- spring. Ap