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on MENA - Middle East and North Africa |
| By: | Hassan, Fatimatul; Masih, Mansur |
| Abstract: | The global Islamic bond started gaining attention in capital markets just a few years ago. Since the launch of Dow Jones Citygroup Sukuk Index in 2006 , the number of issuance of global Islamic bonds has been sharply increasing. Saudi Arabia, UAE and Qatar had become major issuers of global bonds which are highly demanded by the investors .The rationale behind this might be because of religious commitment to get involved in riba (interest)-free investment or might be due to some other contributing factors. Realizing that the majority of global sukuk issuer is from the oil exporting countries, it might be related to the price of crude oil. This study attempts to find out the possible impact of the oil price on the global sukuk index using standard time series techniques. The findings evidence a significant relationship between the crude oil price and the global sukuk index. The US interest rate also influenced the global sukuk index based on the fact that the sukuk is denominated in US dollar and the interest rate had an inverse relationship with the bond price. Thus, crude oil price and the US interest rate should be taken into consideration by the global sukuk issuer as well as the investors. From this study, the investors might take the increase in crude oil prices as a positive signal and be motivated to buy global sukuk especially from the oil producing countries as it would give them a good yield on global sukuk. From the perspective of bond issuers, the appreciation or depreciation of US dollar against other currencies was one of the factors which affected their decision to issue global sukuk or not. An US interest rate affected the exchange rate of US dollar, since an increase in US interest rate led to the appreciation of US dollar in the short term and therefore influenced the global sukuk prices as well. |
| Keywords: | Global sukuk (Islamic bond), oil price, VECM, VDC |
| JEL: | C22 C58 G15 Q43 |
| Date: | 2018–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:100689&r=all |
| By: | Atamanov, Aziz (World Bank); Tandon, Sharad (World Bank); Lopez-Acevedo, Gladys (World Bank); Vergara Bahena, Mexico Alberto (World Bank) |
| Abstract: | This paper identifies gaps in availability, access, and quality of household budget surveys in the Middle East and North Africa region used to measure monetary poverty and evaluates ways to fill these information gaps. Despite improving public access to household budget surveys, the availability and timeliness of welfare data in the Middle East and North Africa region is poor compared to the rest of the world. Closing the data gap requires collection of more HBS data in more countries and improving access to data where it exists. However, when collection of consumption data is not possible, a variety of other second-best strategies can be employed. Using imputation methods can help to measure monetary poverty. Constructing non-monetary poverty and asset indexes from less robust surveys, using non-traditional surveys such as phone surveys, and "big data"—administrative records, social networks and communications data, and geospatial data—can help substitute for, or complement data from existing traditional survey data. |
| Keywords: | Middle East and North Africa, poverty, household budget surveys |
| JEL: | C81 I32 O10 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13363&r=all |
| By: | Petia Koleva (LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique - Université de Paris); Amel Ben Rhouma (LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique - Université de Paris) |
| Abstract: | This paper explores the link between changes in the socio-political context of Tunisia after 2011 and CSR learning. The findings are based upon an in-depth empirical study of 28 CSR actors (big companies, supporting structures, experts, associations and civil society representatives). It appears that companies' adaptation to the new context took the form of a double-loop, constructivist CSR learning. The transformation from informal practices to more explicit forms of management and the change in the weight attributed to various CSR components (environmental, social and governance) are the main features of this adaptation. These developments are the result of individual, group and organizational learning, driven by institutional entrepreneurs. |
| Abstract: | Cette étude explore le lien entre changements socio-politiques et apprentissage de la RSE en Tunisie après 2011. Les résultats reposent sur une étude de terrain menée auprès de 28 acteurs de la RSE (grandes entreprises, structures d'appui, experts, associations et représentants de la société civile). Il apparaît que l'adaptation des entreprises au niveau contexte a pris la forme d'un apprentissage constructiviste en double-boucle de la RSE. L'évolution des pratiques informelles vers des formes de gestion plus explicites ainsi que le changement dans le poids attribué à ses différentes composantes (environnementale, sociale et de gouvernance) sont les principales caractéristiques de cette adaptation. Ces développements résultent d'un apprentissage à plusieurs niveaux (individuel, de groupe et organisationnel) conduit par des entrepreneurs institutionnels. |
| Keywords: | institutional entrepreneurship,transition,learning process,Corporate social responsibility,Tunisia,Responsabilité sociale des entreprises,apprentissage,entrepreneuriat institutionnel,Tunisie |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02615858&r=all |
| By: | Dayioglu-Tayfur, Meltem (Middle East Technical University); Kirdar, Murat G. (Bogazici University) |
| Abstract: | We examine the effects of a compulsory schooling reform on child labor in Turkey, which extended the duration of schooling from 5 to 8 years while substantially improving the schooling infrastructure. We employ four rounds of Child Labor Surveys with a very rich set of outcomes. The reform reduces child labor by 4.8 percentage points (28 percent) for 12- to 17-year-olds and by 1.7 percentage points (81-percent) for 7- to 11-year-olds. For girls, the probability of spending long hours on household chores also reduces. We find that school enrollment and child labor are highly substitutable in rural areas, but not as much in urban areas. The policy effect at first increases but then sharply declines in parental income, which is consistent with the luxury axiom. Favorable effects of the reform on a large range of child labor outcomes suggest that incapacitation effects of a compulsory schooling policy (combined with investment in schooling infrastructure) can be more successful than child labor laws in combatting child labor—as monitoring school enrollment is much easier. |
| Keywords: | child labor, compulsory schooling, costs of schooling, program effect, education policy, Turkey |
| JEL: | H52 I21 J21 J22 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13276&r=all |
| By: | Najiba El Amrani El Idrissi (USMBA - Université Sidi Mohamed Ben Abdellah); Ilham Zerrouk (USMBA - Université Sidi Mohamed Ben Abdellah); Naoual Zerrari (USMBA - Université Sidi Mohamed Ben Abdellah); Salvatore Monni (Roma Tre University) |
| Abstract: | The paper takes place in the research field of the European project "Cluster Development Med" (Horizon 2020) focusing on the innovation and technology in the sustainable development area. Authors suggest a comparative study, which allows selecting the most innovative clusters in Morocco and Italy, and making comparisons between and within them. The analysis defines the weaknesses and strengths in the both examined clusters and embrace three dimensions of cluster activity, so called, "Humain and Material Resources, Activities, Processes and strategies". In this paper, we start by giving a global presentation of Moroccan clusters, their history and geolocation. As a first case of study, we focused on the "Maroc Numeric Cluster" (MNC) manely on its limitations and weaknesses. Thus, in the second case study, we present a cluster that is the beating heart of Italian excellence in the energy sector (Lombardy Energy Cleantech Cluster LE2C). The aim of this paper is to present the LE2C strengths and successful strategies in order to adapt them to the MNC cluster so that it can promote and accelerate again with a successfull proccess. |
| Keywords: | Lombardy Energy Cleantech cluster,Clusters,Maroc Numeric Cluster,Morocco,Italy,Cluster Development Med project |
| Date: | 2020–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02569305&r=all |
| By: | Oguzoglu, Umut (University of Manitoba) |
| Abstract: | This paper investigates the decline in traffic accidents, fatalities and injuries during the months that COVID-19 stay-at-home orders implemented in Turkey. Taking into account the decline in accidents in March and April together, these rates roughly translate to 200 traffic related deaths and 17,600 injuries avoided during the months that stay-at-home orders were in place. The Difference in Difference estimates that exploit variation in quarantine orders among small cities, I also show that stricter rules in April are responsible for the decline of accidents with death or injury by 35 percent, death by 72 percent and injuries by 19 percent. |
| Keywords: | COVID-19, safer-at-home, lockdowns, traffic accidents, fatality, injury, Turkey |
| JEL: | P48 Q53 Q58 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13278&r=all |
| By: | Agbahey, Johanes; Siddig, Khalid; Grethe, Harald |
| Abstract: | Results of general equilibrium models are sensitive to model parameterization and specification. The role of macroeconomic closures and the effect of trade elasticities are documented in the literature, but there is no systematic analysis of the implications of different labor supply specifications for the effect of shocks to labor markets. This study analyzes these implications, using data for the West Bank economy and a general equilibrium model with four different labor market specifications. The findings indicate that increased Palestinian employment in Israel leads to changes in real GDP in the range of -1.8% to +3.4%, depending on the model specification. This wide range of effects on macroeconomic aggregates stems from the definition of the production boundary, the implicit assumptions on the opportunity cost of labor in activities outside the production boundary, and the conditions for a transfer of labor across the boundary. Economic theory indicates that the labor-leisure trade-off is the most consistent framework for modeling labor supply decisions. However, in the absence of data for activities outside the SNA boundary, the full-employment assumption may be the second-best alternative, although it risks overstating the changes in real wage rates. The surplus labor and upward-sloping labor supply curve specifications both tend to understate the increases in wage rates and overstate the welfare gains. |
| Keywords: | Agricultural and Food Policy, Agricultural Finance, Labor and Human Capital, Research Methods/ Statistical Methods |
| Date: | 2020–06–24 |
| URL: | http://d.repec.org/n?u=RePEc:ags:huiawp:303829&r=all |
| By: | Barron, Kai (Wissenschaftszentrum Berlin); Harmgart, Heike (European Bank for Reconstruction and Development); Huck, Steffen (University College London); Schneider, Sebastian (Max Planck Institute for Research on Collective Goods); Sutter, Matthias (Max Planck Institute for Research on Collective Goods) |
| Abstract: | We measure the prevalence of discrimination between Jordanian host and Syrian refugee children attending school in Jordan. Using a simple sharing experiment, we find only little discrimination. Among the Jordanian children, however, we see that those who descended from Palestinian refugees do not discriminate at all, suggesting that a family history of refugee status can generate solidarity with new refugees. We also find that parents' narratives about the refugee crisis are correlated with the degree of discrimination, suggesting that discriminatory preferences are being transmitted through parental attitudes. |
| Keywords: | discrimination, refugees, children, experiment, integration |
| JEL: | C91 D90 J15 C93 J13 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13337&r=all |
| By: | Demirel, Merve (Bilkent University); Okten, Cagla (Bilkent University) |
| Abstract: | We analyze the impact of an increase in compulsory schooling policy on the gender gap in intergenerational educational persistence using the Turkish Adult Education Survey (2012). Prior to the reform there is a gender gap in the association of parents' educational attainment with their offspring's. Daughters exhibit more intergenerational persistence than sons. We show that the education reform that increased compulsory schooling from 5 to 8 years, exposed children born after 1986 to 3 more years of schooling and reduced the effect of parental education on the completion probability of new compulsory schooling (8 years) from 30% to 1% percentage points for sons and from 49% to 11% percentage points for daughters, while the effect of parental education on post-compulsory schooling outcomes of sons and daughters decreased by 12 and 13 percentage points, respectively. The gender gap in intergenerational education transmission has decreased by 8 percentage points in the completion of new compulsory schooling level but remains unchanged at the post-compulsory schooling level after the reform. |
| Keywords: | intergenerational education transmission, gender equality, compulsory schooling |
| JEL: | I20 I24 J16 J62 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13362&r=all |