Government expenditures and economic growth in the MENA region: A dynamic heterogeneous panel estimation
This study examines the dynamic heterogeneous effect of government expenditures on economic growth in 20 Middle East and North Africa (MENA) countries during the 1990–2016 period. The results reveal that a dynamic adjustment in economic growth in the MENA region occurred from the short to the long r...
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| Veröffentlicht in: | International journal of finance and economics 2022-07, Vol.27 (3), p.3287-3299 |
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| container_title | International journal of finance and economics |
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| creator | Alshammary, Mohammed Daher Khalid, Norlin Karim, Zulkefly Abdul Ahmad, Riayati |
| description | This study examines the dynamic heterogeneous effect of government expenditures on economic growth in 20 Middle East and North Africa (MENA) countries during the 1990–2016 period. The results reveal that a dynamic adjustment in economic growth in the MENA region occurred from the short to the long run. Arguably, government expenditures can promote economic growth. In the long run, the coefficients of government expenditures are positive and significant in oil and non‐oil countries; in the short run, the coefficient is statistically significant in oil countries but not in non‐oil countries. The coefficients of government expenditures markedly differ between the two groups. For the MENA region, as a whole, government expenditures exhibit a crowding‐in effect instead of a crowding‐out effect on growth. Importantly, to sustain economic growth, non‐oil countries must embark fiscal reform measures promptly by optimizing government expenditures. Oil countries should consider the implications of short‐ and medium‐term fiscal imbalances. |
| doi_str_mv | 10.1002/ijfe.2321 |
| format | Article |
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The results reveal that a dynamic adjustment in economic growth in the MENA region occurred from the short to the long run. Arguably, government expenditures can promote economic growth. In the long run, the coefficients of government expenditures are positive and significant in oil and non‐oil countries; in the short run, the coefficient is statistically significant in oil countries but not in non‐oil countries. The coefficients of government expenditures markedly differ between the two groups. For the MENA region, as a whole, government expenditures exhibit a crowding‐in effect instead of a crowding‐out effect on growth. Importantly, to sustain economic growth, non‐oil countries must embark fiscal reform measures promptly by optimizing government expenditures. 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The results reveal that a dynamic adjustment in economic growth in the MENA region occurred from the short to the long run. Arguably, government expenditures can promote economic growth. In the long run, the coefficients of government expenditures are positive and significant in oil and non‐oil countries; in the short run, the coefficient is statistically significant in oil countries but not in non‐oil countries. The coefficients of government expenditures markedly differ between the two groups. For the MENA region, as a whole, government expenditures exhibit a crowding‐in effect instead of a crowding‐out effect on growth. Importantly, to sustain economic growth, non‐oil countries must embark fiscal reform measures promptly by optimizing government expenditures. 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The results reveal that a dynamic adjustment in economic growth in the MENA region occurred from the short to the long run. Arguably, government expenditures can promote economic growth. In the long run, the coefficients of government expenditures are positive and significant in oil and non‐oil countries; in the short run, the coefficient is statistically significant in oil countries but not in non‐oil countries. The coefficients of government expenditures markedly differ between the two groups. For the MENA region, as a whole, government expenditures exhibit a crowding‐in effect instead of a crowding‐out effect on growth. Importantly, to sustain economic growth, non‐oil countries must embark fiscal reform measures promptly by optimizing government expenditures. 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| source | Wiley Online Library Journals Frontfile Complete; Business Source Complete |
| subjects | Economic growth Erdölexportierende Länder Fiscal policy government expenditures Internationaler Vergleich/Ländervergleich MENA region Naher und Mittlerer Osten und Nordafrika pooled mean group Regionale internationale Wirtschaftsentwicklung Ressourcenarme Staaten Tax reform Wirkung/Auswirkung Wirtschaftliche Entwicklung Wirtschaftswachstum Öffentliche Ausgaben Öffentliche Finanzpolitik |
| title | Government expenditures and economic growth in the MENA region: A dynamic heterogeneous panel estimation |
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