nep-ara New Economics Papers
on Arab World
Issue of 2009‒05‒30
six papers chosen by
Quentin Wodon
World Bank

  1. FDI in the European Union and Mena Countries: Institutional and Economic Determinants By José Caetano; Aurora galego
  2. On the short-term influence of oil price changes on stock markets in GCC countries: linear and nonlinear analyses By Mohamed El Hedi Arouri; Julien Fouquau
  3. Straddling Faultlines : India's Foreign Policy Toward The Great Middle East By Sushil J Aaron
  4. What has been the Role of Investment in Turkey's Growth Performance? By Unal Zenginobuz; Sumru Altug
  5. Contribution à une théorie de la décentralisation de la décision d'investissement:Le cas des firmes tunisiennes - A Contribution to a investment decision decentralization theory:The case of Tunisian firms By Ghazi Zouari
  6. L'accession de l'Algérie à l'OMC. Entre ouverture contrainte et ouverture maîtrisée By Mehdi Abbas

  1. By: José Caetano (Universidade de Evora, Departamento de Economia, CEFAGE-UE); Aurora galego (Universidade de Evora, Departamento de Economia, CEFAGE-UE)
    Abstract: FDI flows to the Middle East and North Africa countries (MENA) have been relatively low when compared to the neighbouring European Union (EU) and to other developing and emerging countries. Furthermore, empirical research on FDI in these countries is relatively scarce. In this paper we use panel data regressions and consider a period of 9 years (since mid nineties) to investigate possible differences in the determinants of FDI performance in these regions. In particular, we use a panel of 42 countries which include 17 MENA countries and 25 European countries. Unlike previous studies, we consider the inward FDI performance index, as provided by UNCTAD, as dependent variable and include both institutional and macroeconomic variables as possible determinants of FDI. The aim is to investigate whether there are region-specific factors that are significant for FDI performance. We conclude that there are some significant differences on the institutional determinants of FDI performance, namely in what concerns Investment Freedom, Government Size and Trade Freedom.
    Keywords: Foreign Direct Investment; Determinants; Institutions; Middle East North Africa countries (MENA); European Union (EU); Panel Data.
    JEL: F21 C23
    Date: 2009
  2. By: Mohamed El Hedi Arouri (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR6221 - Université d'Orléans); Julien Fouquau (LEO - Laboratoire d'économie d'Orleans - CNRS : UMR6221 - Université d'Orléans)
    Abstract: This paper examines the short-run relationships between oil prices and GCC stock markets. Since GCC countries are major world energy market players, their stock markets may be susceptible to oil price shocks. To account for the fact that stock markets may respond nonlinearly to oil price shocks, we have examined both linear and nonlinear relationships. Our findings show that there are significant links between the two variables in Qatar, Oman, and UAE. Thus, stock markets in these countries react positively to oil price increases. For Bahrain, Kuwait, and Saudi Arabia we found that oil price changes do not affect stock market returns.
    Keywords: GCC stock markets, oil prices, linear and nonlinear analyses
    Date: 2009
  3. By: Sushil J Aaron
    Abstract: India’s foreign policy has had an anomalous quality since the time Jawaharlal Nehru resolutely attempted to steer clear of Cold War alliances. This continues to be so given India’s unique situation of establishing “strategic relations” with both Israel and Iran, as part of its Greater Middle East policy. A study of this paradox assumes significance for various reasons. One, it offers a glimpse into the way India is reordering its foreign policy in the post Cold War, as part of its clamour for Great Power status, thus presenting a westward complement to its familiar ‘Look East policy’ which seeks to engage regions beyond South Asia. It also provides a view of the complexities involved in endorsing the American agenda in a geopolitical neighbourhood, transformed by the September 11 attacks, and yet, one that affects India’s security because of its energy reserves and Islamist ferment. To this end, this study analyses India’s foreign policy toward the Middle East and Central Asia since the late 1990s, with a specific focus on its relations with Israel, Iran and Iraq that reviews the way it reconciles immediate security needs with competing realities of economic interdependence and political sensitivities. The paper also evaluates the challenges India faces in strengthening links with Afghanistan and Central Asia.[CSH OP NO 7]
    Keywords: India; Middle East; Post Cold War; INDIA-ISRAEL RELATIONS; Defense Ties; Security cooperation; Arab response; Pro-Israel American Jewish Organizations; Congress Party; Israel-Turkey relations; IRAN; The Delhi and Teheran Declarations; Mishra’s AJC speech; North South Trade Corridor; Elusive Pipeline Project; Pakistan; India and Gulf War II; Domestic uproar; AFGHANISTAN AND CENTRAL ASIA; Afghan Policy; India in Central Asia; Taxonomy
    Date: 2009
  4. By: Unal Zenginobuz; Sumru Altug
    Date: 2009–02
  5. By: Ghazi Zouari (ISG Université de Gabès (Tunisie))
    Abstract: (VF)L'objet de cette recherche est de tenter d’expliquer les systèmes de décision et de contrôle lors des projets d’investissement. Pour cela, cette recherche met en évidence le rôle de l'architecture organisationnelle (répartition des droits sur la gestion de décision et sur le contrôle de décision) en tant que facteur explicatif de l'efficacité de la gestion des investissements. Nous testons nos hypothèses sur un échantillon de 63 firmes tunisiennes en recourant à la méthode de corrélation canonique. (VA)The object of this research is to explain the decision and control systems, relatif to projects of investments. Otherwise, we will analyze the Tunisia firm behavior about investment decision and bring light organizational architecture (rights allocation on decision management and on decision control) influence on investment decision to get effective management of the investments. We test our hypothesis on a sample of 63 Tunisian firms using the canonical correlation method.
    Keywords: décision d'investissement;architecture organisationnelle;investment decision;organizational architecture
    JEL: G31
    Date: 2009–04
  6. By: Mehdi Abbas (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II)
    Abstract: Cette note aborde la question de l'accession de l'Algérie à l'OMC. Elle présente une analyse coûts-avantages de la procédure pour ce pays du point de vue de la diversification productive hors hydrocarbures, problématique à laquelle est confrontée l'économie algérienne. Ensuite, elle approfondie l'hypothèse des équilibres du système national d'économie politique algérien comme principal facteur explication de l'état de l'accession.
    Keywords: Organisation Mondiale du Commerce ; économie politique ; multilatéralisme ; négociation internationale ; Algérie
    Date: 2009–04–27

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