Using Two-stage Least Square (TSLS) regression for cross-sectional observations of 197 countries for the year 2009, the study estimates the impact of the improvement in the quality of governance on per capita income and the increase in per capita income on the quality of governance. Following...

The main goal of this paper is to evaluate the impact of governance on economic growth using a group of 188 countries. Although our main focus is on the 21 Middle Eastern and North African (MENA) countries, our findings can be applied to the other countries as well. There are two main...

The recent political up-rise in the Middle East and North African (MENA) economies sparks the light on evaluating the so called structural reforms that aimed at achieving economic freedom. This paper examines the impact of liberal policies on output per worker in 139 countries with a case study...

Using a Two-stage Least Square (TSLS) regression for cross-sectional observations of 197 countries for the year 2009, the study estimates the impact of: i) an improvement in the quality of governance on per capita income, and ii) an increase in per capita income on the quality of governance. In...

Strong financial markets are widely thought to propel economic development, with many in finance seeing legal tradition as fundamental to protecting investors sufficiently for finance to flourish. Kenneth Dam, in the Law-Growth Nexus, finds that the legal tradition view inaccurately portrays how...

Economic freedom is an important determinant of economic growth and income distribution, which are key factors in facilitating economic development. The paper empirically investigates the relationship between economic freedom and economic performance in the APAC and OECD countries. A panel model...

This paper offers a meta-regression analysis of the literature on the drivers of financial development. Our results based on 1900 estimates suggest that institutional quality is positively correlated to both private sector credit and stock market capitalization (both as share of GDP). Domestic...

This paper examines the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the Middle East and North Africa (MENA) region using panel data through a fixed effect model. The results reveal that English civil law origin and the...

The question of convergence between poor and rich countries is a central issue in economic growth debate in the last years. This paper investigates the β-conditional convergence of the MENA (Middle East and North Africa) region towards the Euro Zone using a set of macroeconomic, institutional...