Suchergebnisse

The novel coronavirus (COVID-19) pandemic has affected the countries in the Middle East and North Africa (MENA) region in different ways, and the varying political structures, economic conditions and civil-crisis preparedness of the states in this region have resulted in it being handled in a variety of ways too. Even if it is difficult to assess how the crisis has affected the MENA region in more detail due to the region's general volatility and ongoing conflicts in Libya and Syria, current trends have so far not shown a diminution in regional conflicts. Nor have the pandemic's consequences in the Middle East lessened Europe's problems with the region. Thus the article argues that COVID-19 has not really led to a decrease in the conflicts and wars plaguing the MENA region, and that, therefore, the effects for Europe—both short- and long-term—will still be felt, as existing problems will continue to affect Europe.

How is the Ukraine war affecting power dynamics in the MENA region?

Purpose– This study aims to examine the factors affecting the foreign direct investment (FDI) and foreign portfolio investment (FPI) flows among the 16 economies comprising the Middle East and North African (MENA) region.Design/methodology/approach– Panel data for the period 1984-2012 are used, and the generalized method of moment (GMM) technique is implemented.Findings– The results support the agglomeration effect, which indicates that countries which have already had FDI attract more FDI in the future. Economic risk affects FDI significantly and negatively, whereas trade openness has a significant and positive impact on FDI. Of the political risk factors considered, three of them, namely, law and order, ethnic tension and internal conflict, significantly affect FDI. The results on FPI show that the lag in FPI and the degree of openness play a significant role in attracting FPI into the MENA region. In addition, stock market capitalization, as well as the return on investment affects the FPI flow positively. The study also reveals a negative government structure impact on FPI, whereas, surprisingly, religious tension in the MENA region affects FPI positively.Originality/value– This research examines, simultaneously, the factors that determine not only FDI but also FPI flow. It uses a powerful econometric technique which avoids common estimation problems such as endogeneity, heteroskedasticity and autocorrelation. Policymakers in the MENA region recognized the need for outside capital as a major catalyst of development, economic growth and modernization. Therefore, it is essential to know the factors that would lead to a surge in capital flow to these countries.

We examine the role of spatial spillovers in economic growth for the Middle East and North Africa (MENA) region. We explicitly model spatial interactions that may arise from geography, bilateral trade, or institutional similarities, and ask how much they are likely to matter for growth externalities and spillover effects. We find that the economic growth of a MENA country is positively affected by the economic growth of countries that are geographically close and that have similar institutional characteristics. The spillover effects of growth are due to economic activities in countries that trade primarily in oil, which accounts for the gap in spillover effects due to institutional similarity between resource‐rich and resource‐poor countries in the MENA region. However, trade linkages matter less. Where they do have an effect, it is through the local range effects of a spatially lagged explanatory variable capturing the effects of the trade balance on growth.