nep-ara New Economics Papers
on MENA - Middle East and North Africa
Issue of 2023‒10‒16
twenty-one papers chosen by
Paul Makdissi, Université d’Ottawa

  1. The Reality and Importance of moving towards Blue Economy: The Experiences of Some Arab Countries By Chafia Kettaf
  2. Resilience of the Algerian wheat sector By Bahia Bouchafaa
  3. The Behavioral Mechanisms of Voluntary Cooperation across Culturally Diverse Societies: Evidence from the US, the UK, Morocco, and Turkey By Till O. Weber; Jonathan F. Schulz; Benjamin Beranek; Fatima Lambarraa-Lehnhardt; Simon Gaechter
  4. Social Responsibility Practices in Commercial Banks: A Case Study of Jordan Ahli Bank By Djaouida Belaa
  5. Knowlege-Economy Dimensions in Promoting Economic Development - Case Study Of Arab Countries - By Abahri Sofiane; Maghnem Mohamed
  6. Trends in Consumers Towards Online Shopping After Coronavirus Pandemic By Mezghiche Djamel; Abdallah M'Hamed
  7. Extending the Frontiers of Financial Development for Sustainability of the MENA States: The Roles of Resource Abundance and Institutional Quality By Stephen T. Onifade; Bright A. Gyamfi; Ilham Haouas; Simplice A. Asongu
  8. Monetary Policy Rule and its Performance under Inflation Targeting in Algeria By Cheddad Azzeddine; Mekidiche Mohammed
  9. Regulation and legal audit quality:Between international standards and the reality of moroccan context By Slimane Bari; Hassane Boujettou
  10. Food insecurity in the world in sustainable agricultural development By Houda Bessachi; Fouad Announ
  11. Does Oil Corrupt? Evidence from a Multivariate VAR in Iran By Mohammad Reza Farzanegan; Reza Zamani
  12. Dynamics of social protection in Morocco: Status and prospects By Ibtissam Boutaleb; Houda Lahmar
  13. Optimization of Electrical Energy Generation Systems in the Mini-grids of Southern Algeria By Dahmani Souria; Aïssa Mouhoubi
  14. The entrepreneurial accompaniment and its role in supporting emerging projects: Case study of the National Fund for Credit Guarantee FGAR By Rial Zouina
  15. Electricity Consumption Forecasting in Algeria using ARIMA and Long Short-Term Memory Neural Network By Sahed Abdelkader; Kahoui Hacene
  16. The Effect of the “Woman Life Freedom” Protests on Life Satisfaction in Iran: Evidence from Survey Data By Mohammad Reza Farzanegan; Sven Fischer
  17. La dimension économique dans le découpage régional au Maroc : analyse de la convergence des régions By Omar Benida; Khalil Allali; Hassan Ramou; Aziz Fadelaoui
  18. The effect of government subsidies on Algeria's general budget deficit during (2000-2020) -analytical measurement study- By Fettouche Fatma
  19. The Role of Modern Models in Predicting Financial Failure of Economic Institutions: An Empirical Study on Saidal group for the Period (2017-2020) By Lamia Haouam
  20. Drivers of Change: How Intra-household Preferences Shape Employment Responses to Gender Reform By Chaza Abou Daher; Erica M. Field; Kendal M. Swanson; Kate H. Vyborny
  21. Kuwait: 2023 Article IV Consultation-Press Release; and Staff Report By International Monetary Fund

  1. By: Chafia Kettaf (UFAS1 - Université Ferhat-Abbas Sétif 1 [Sétif])
    Abstract: Through This research paper we will highlight the conceptual framework of the blue economy, clarify its most important principles, and indicate the importance of the blue economy and its most important sectors. In the end, we will present the endeavors and experiences of some Arab countries in this field, which became clear that, despite the novelty of the term, Arab countries have had successful experiences to some extent in this field.
    Keywords: blue economy sustainable development Arab countries fishing beach tourism. JEL Classification Codes: Q01 Q22 Q56, blue economy, sustainable development, Arab countries, fishing, beach tourism. JEL Classification Codes: Q01, Q22, Q56
    Date: 2023–06–04
  2. By: Bahia Bouchafaa (National Polytechnic School Algiers)
    Abstract: Algeria has experienced these last three years, two shocks that are COVID-19 Russian-Ukrainian conflict , and this affected wheat availability and accessibility ; which revealed the vulnerability of the wheat sector in Algeria to shocks. This article aims to clarify the situation of Algerian wheat sector through measurement of its resilience to shocks in order to find solutions in case of fragility. Our study shown that Algerian wheat sector is vulnerable to shocks. Solution is to try to improve production.
    Keywords: Resilience Shock Supply Value chain Wheat sector. JEL Classification Codes: H40 Q18 R00. Bahia BOUCHFAA, Resilience, Shock, Supply, Value chain, Wheat sector. JEL Classification Codes: H40, Q18, R00. Bahia BOUCHFAA
    Date: 2023–06–04
  3. By: Till O. Weber; Jonathan F. Schulz; Benjamin Beranek; Fatima Lambarraa-Lehnhardt; Simon Gaechter
    Abstract: We examine the role of cooperative preferences, beliefs, and punishments to uncover potential cross-societal differences in voluntary cooperation. Using one-shot public goods experiments in four comparable subject pools from the US and the UK (two similar Western societies) and Morocco and Turkey (two comparable non-Western societies), we find that cooperation is lower in Morocco and Turkey than in the UK and the US. Using the ABC approach – in which cooperative attitudes and beliefs explain cooperation – we show that cooperation is mostly driven by differences in beliefs rather than cooperative preferences or peer punishment, both of which are similar across the four subject pools. Our methodology is generalizable across subject pools and highlights the central role of beliefs in explaining differences in voluntary cooperation within and across culturally, economically, and institutionally diverse societies. Because our behavioral mechanisms correctly predict actual contributions, we argue that our approach provides a suitable methodology for analyzing the determinants of voluntary cooperation of any group of interest.
    Keywords: public goods, voluntary cooperation, ABC method, conditional cooperation, beliefs, punishment, cross-cultural experiments, WEIRD societies
    JEL: C90 H40 C70 D20
    Date: 2023
  4. By: Djaouida Belaa (UFAS1 - Université Ferhat-Abbas Sétif 1 [Sétif])
    Abstract: This study aims to identify the reality of applying social responsibility in commercial banks by focusing on defining the concepts related to them and their relevance to institutions while presenting some of the activities and practices of the Jordan Ahli Bank in this field. The study concluded that the Jordanian official recognizes the importance of the Bank's commitment to its social responsibility towards stakeholders in order to achieve their satisfaction and preserve its image.
    Keywords: Social Responsibility Society Environment Clients Human Resources Jordan Ahli Bank. JEL Classification Codes : L21 L25 G21 M14, Social Responsibility, Society, Environment, Clients, Human Resources, Jordan Ahli Bank. JEL Classification Codes : L21, L25, G21, M14
    Date: 2023–06–04
  5. By: Abahri Sofiane (UMBB - Université M'Hamed Bougara Boumerdes); Maghnem Mohamed (UMBB - Université M'Hamed Bougara Boumerdes)
    Abstract: The current trends of education at the global level in general and the Arab world, in particular, are heading for the development of education towards the knowledge economy, where it has become an inevitability for education systems, which provides opportunities and challenges in the exploitation of technological capabilities, jobs, and new businesses, and this requires a workforce characterized by special qualities such as creativity, and speed of adaptation to external changes, and based on the above, the problem of the study is determined in the concept of the knowledge economy and its dimensions in promoting economic development in Arab.
    Keywords: JEL Classification Codes: F41 O1 O53 O55 Q56, JEL Classification Codes: F41, O1, O53, O55, Q56
    Date: 2023–06–04
  6. By: Mezghiche Djamel (UMBB - Université M'Hamed Bougara Boumerdes); Abdallah M'Hamed (IMT - Institut Mines-Télécom [Paris])
    Abstract: Online marketing has become popular in world in general and the Arab world in particular is witnessing the desirability and satisfaction of the world. However, he did not meet his right in Algeria, which knows of the delay in adopting commercial transactions in the electronic environment despite growing consumer demand for Internet use, their trends towards online shopping. In our view, this may be due to the lack of adequate mechanisms affecting the Algerian user in the adoption of shopping.
    Keywords: Online marketing Coronavirus Pandemic online shopping Online Apps consumer. JEL Classification Codes: D43, F16, G14, L11, Online marketing, Coronavirus Pandemic, online shopping, Online Apps, consumer. JEL Classification Codes: D43
    Date: 2023–06–04
  7. By: Stephen T. Onifade (KTO Karatay University, Konya, Turkey); Bright A. Gyamfi (Ä°stanbul Ticaret University, Turkey); Ilham Haouas (Abu Dhabi, UAE); Simplice A. Asongu (Johannesburg, South Africa)
    Abstract: Resource abundance characterizes economies within the MENA region from North Africa to the Middle East. As such, to improve financial development (FD) for regional economic sustainability, this study provides a comprehensive analysis of the roles of natural resources abundance and institutional quality indicators on the region’s FD while underscoring the inflationary levels and general economic growth trends amidst rising globalization. The adopted empirical strategy (CS-ARDL and AMG) is employed for potential cross-sectional dependency (CD) and slope homogeneity in the regional data spanning over two decades (2000-2020). Unlike the extant literature, two separate regional FD indicators were considered for an insightful analysis namely, banking financial services via domestic credit to private sector, and financial stability via the Z-score values showing the tendencies of default in a country's banking structure. Regardless of the FD indicator, the results reveal that natural resources, growth trends, and inflationary levels significantly spur long-run regional FD thereby invalidating the financial resource curse hypothesis in the region. Furthermore, both institutional quality levels and globalization produced detrimental impacts on FD levels. However, the interaction between institutional quality levels and natural resources shows a desirable FD-stimulating effect in the region, noticeably when FD is proxied by the Z-score. Thus, implying that stronger institutions are crucial for MENA’s overall financial stability vis-Ã -vis reduction in the risk of default in the banking system. Hence, policy recommendations including the strengthening of institutional capacities among others, were suggested to regional authorities towards harnessing resources for sustainable regional FD.
    Keywords: Natural resources, Financial development, Institutions, MENA region, Sustainable growth
    JEL: Q33 P48 E44 O53 O55
    Date: 2023–01
  8. By: Cheddad Azzeddine (maghnia University center, Algeria); Mekidiche Mohammed (maghnia University center, Algeria)
    Abstract: The aim of this study is to reassess the efficacy of inflation targeting in Algeria by utilizing the Autoregressive Distributed Lag Bound Test (ARDL) model to analyze the Taylor rules. Our findings reveal that the implementation of inflation targeting in Algeria's monetary policy does not yield a significant immediate impact on inflation. Nonetheless, there is evidence of a gradual adjustment towards attaining the targeted inflation rate over time.
    Keywords: Monetary Policy Inflation Targeting Taylor rules ARDL model JEL Classification Codes: C22 E17 E43 E52 E58, Monetary Policy, Inflation Targeting, Taylor rules, ARDL model JEL Classification Codes: C22, E17, E43, E52, E58
    Date: 2023–06–04
  9. By: Slimane Bari (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Université Abdelmalek Essaâdi); Hassane Boujettou (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Université Abdelmalek Essaâdi)
    Abstract: Compared with other contexts, such as Europe or the Anglo-Saxon area, studies on audit quality remain limited and relatively unexplored in Morocco. This fact encouraged me to explore this field of research, with the aim of understanding the various aspects of statutory audit quality through an approach that reconciles international standards with the reality of Moroccan practice.This exploration is carried out by adopting a conceptual approach and drawing on a review of existing literature. This article examines different dimensions of audit quality, exploring the agency theories, signaling and contingency. While providing perspectives for understanding the determinants and implications of audit quality, these theories present both points of convergence and divergence. Although they all recognize the importance of auditor independence and the communication of quality signals, they differ in the way they approach these issues.In conclusion, this theoretical article makes a significant contribution by shedding light on the statutory auditing in Morocco. However, it is crucial to emphasize that empirical research is needed to support and enhance the theoretical findings, and to compensate for the lack of specific data in the Moroccan context. This research thus opens up new perspectives for a better understanding and applicationof statutory audit quality in Morocco.
    Abstract: Comparéesà d'autrescontextestelsque l'Europe ou le monde anglo-saxon, les études portant sur la qualité de l'audit légal demeurent rares et relativement peu explorées au Maroc. Ce constat m'a encouragé à explorer cette piste de recherchedont la finalité est de comprendre les divers aspects de la qualité de l'audit légal à travers une approche de conciliation entre les dispositifs inscrits à l'échelle internationale et la réalité de la pratique du pays. Cette exploration est réalisée en adoptant une approche conceptuelle et en s'appuyant sur une revue de la littérature existante. L'article examine différentes dimensions de la qualité de l'audit en explorant les théories de l'agence, de la signalisation et de la contingence. Offrant des perspectives pour comprendre les déterminants et les implications de la qualité de l'audit, ces théories présentent à la fois des points de convergence et de divergence. Elles reconnaissent toutes l'importance de l'indépendance de l'auditeur et de la communication de signaux de qualité, bien que leurs approches diffèrent dans la manière dont elles les abordent. En conclusion, cet article théorique se positionne comme une contribution significative en mettant en lumière les spécificités de l'audit légal au Maroc. Cependant, il est crucial de souligner que des recherches empiriques sont nécessaires pour étayer et enrichir les résultats théoriques, et pour combler le manque de données spécifiques au contexte marocain. Ce travail de recherche ouvre ainsi de nouvelles perspectives pour une meilleure compréhension et application de la qualité de l'audit légal dans le contexte marocain.
    Keywords: Audit légal contexte marocain qualité de l'audit dispositif international d'audit Classification JEL : M42 M49 Type du papier : Article théorique Legal auditing Moroccan context audit quality international audit standards JEL Classification: M42 M49 Paper type: Theoretical Research, Audit légal, contexte marocain, qualité de l'audit, dispositif international d'audit Classification JEL : M42, M49 Type du papier : Article théorique Legal auditing, Moroccan context, audit quality, international audit standards JEL Classification: M42, M49 Paper type: Theoretical Research
    Date: 2023
  10. By: Houda Bessachi (Université Yahia Fares de Médéa); Fouad Announ (Université Yahia Fares de Médéa)
    Abstract: Findings show the necessity to establish effective strategies to face and eliminate climate effects through sustainable management of water resources and land restoration policy that tend to improve land productivity to achieve food security and minimize food gap This study aims to provide a preliminary step towards developing a multidimensional index for the sake of food security dimensions' evaluation. Hence, food security is regarded as a big and difficult challenge in the whole world, basically in Arab countries.
    Keywords: Food security sustainable agricultural development JEL Classification Codes: I10 O10 Q01, Food security, sustainable agricultural development JEL Classification Codes: I10, O10, Q01
    Date: 2023–06–04
  11. By: Mohammad Reza Farzanegan (University of Marburg); Reza Zamani (Allameh Tabatab’i University)
    Abstract: We examine the response of the news-based Corruption Reflection Index (CRI) to positive shocks in oil revenues in Iran. Using annual data from 1962 to 2019, we employ the Vector Autoregressive (VAR) model and analyze impulse response functions. Our findings reveal a positive and significant response of corruption to oil shocks. The key channels through which this relationship operates include inflation, military spending, and the degradation of democratic institutions. Moreover, we provide a case study of clientelism in public investment projects in Iran from 2002 to 2012 and their impact on the public budget.
    Keywords: Corruption; Oil rents, Resource curse; Conflict; Iran; VAR model
    Date: 2023
  12. By: Ibtissam Boutaleb (Faculty of Economics and Management of settat, Hassan First University of Settat, Morocco); Houda Lahmar (Faculty of Economics and Management of settat, Hassan First University of Settat, Morocco)
    Abstract: This article represents a conceptual literature, which focuses on the development of the protective function in Morocco. The importance of the development of social protection stem from the weight of the social issue in the economy as well as the degree of resistance of households against the various social risks. The interest in studying the history of social protection is to know the economic and social impact on households their spending, their dignity and well-being? since the household is not represented only in the status of a worker, on the other hand, it is necessary to be interested in the different sections of society to ensure that the social needs of the population are met. And the close relationship between social protection and growth is in particular to specify the nature of the relationship between the two variables. This article attempts to present the development of social protection following an analytical and comparative approach through the comparison of different theories of social protection to see the advantages and limitations. As well as the analysis of the trajectory of social protection which begins with traditional forms inspired by religion, then it took the form of social insurance with the colonial era in order to meet the needs of the French worker and then a mixed protection system inspired by the Bismarck theory and the biverdge theory. Currently, the political orientation of social security is based on a vision of a social protection system that meets the needs of households according to the life cycle due to the fact that each age group has specific needs and that the need to cover all groups is paramount. On the other hand, social protection in Morocco has undergone multiple reforms, the latest of which is the generalization of social coverage.
    Abstract: Cet article représente une littérature conceptuelle, théorique qui met l'accent sur le développement de la fonction protectrice au Maroc. L'importance du développement de la protection sociale découle du poids de la question sociale dans l'économie ainsi que le degré de résistance des ménages contre les divers risques sociaux. L'intérêt d'étudier l'histoire de la protection sociale est de savoir l'impact économique et social sur les ménages, leur dépense, leur dignité et bien être ; puisque le ménage n'est pas représenté seulement par le statut d'un travailleur. En effet, il faut s'intéresser aux différentes tranches de la société pour veiller à répondre aux besoins sociaux de la population. Ainsi, la relation étroite entre protection sociale et croissance est notamment de préciser la nature de relation entre ces deux variables. Cet article tente de présenter le développement de la protection sociale suivant une approche analytique et comparative à travers la comparaison des différentes théories de la protection sociale, voir les avantages et les limites, pour répondre à la question centrale : quel développement de la protection sociale au Maroc ? Ainsi que l'analyse de la trajectoire de la protection sociale qui débute par des formes traditionnelles inspirées de la religion , ensuite il a pris la forme de l'assurance sociale avec l'ère coloniale afin de répondre aux besoins du travailleur français et puis un système de protection mixe inspirer de la théorie Bismarck et la théorie biverdge .Actuellement l'orientation politique de la sécurité sociale se base sur une vision d'un système de protection sociale qui répond aux besoins des ménages selon le cycle de vie en raison que chaque tranche d'âge à des besoins spécifiques et que la nécessité de couvrir toutes les tranches et primordiale. En revanche la protection sociale au Maroc a subi de multiples réformes dont la dernière : la généralisation de la couverture sociale.
    Keywords: social protection, social cover, insurance, assistance., protection sociale, couverture sociale, assurance, assistance
    Date: 2023
  13. By: Dahmani Souria (Université Abderrahmane Mira [Béjaïa]); Aïssa Mouhoubi (Université Abderrahmane Mira [Béjaïa])
    Abstract: The objective of this paper is to review the electrification modes associated with the Great Algerian South Networks (GSN). The study focuses on the conceptualization of the GSN through the dimensioning of mini-grids. Given the remoteness and difficulties of fuel supply, a series of reforms have been undertaken to promote the energy transition and ensure the development of these regions through the realization of hybrid systems in order to reduce the dependence on fossil fuel sources by ensuring energy savings.
    Keywords: Electricity, hybridization, Great Algerian South Networks, energy transition, renewable energy. JEL Classification Codes: Q42 Q48 R34, renewable energy. JEL Classification Codes: Q42, Q48, R34
    Date: 2023–06–04
  14. By: Rial Zouina (UMBB - Université M'Hamed Bougara Boumerdes)
    Abstract: We present the concepts of entrepreneurship and entrepreneurial accompaniment in Algeria, highlighting the National Fund for Credit Guarantee for Small and Medium Enterprises (FGAR) as one of the mechanisms of entrepreneurial escort by analysing the various statistics and results of this fund. The study concluded with the positive role played by the FGAR in supporting entrepreneurship in Algeria, but the lack of coherence and coordination between the various mechanisms of support and entrepreneurial accompaniment led to the disruption of its development goals.
    Keywords: Entrepreneurship Entrepreneurial Accompaniment the National Fund for Credit Guarantee FGAR Start-ups Small and Medium Enterprises. JEL Classification Codes: L26 M13, Entrepreneurship, Entrepreneurial Accompaniment, the National Fund for Credit Guarantee FGAR, Start-ups, Small and Medium Enterprises. JEL Classification Codes: L26, M13
    Date: 2023–06–04
  15. By: Sahed Abdelkader (Maghnia University Center); Kahoui Hacene (maghnia University center, Algeria)
    Abstract: Forecasting electricity consumption is necessary for electric grid operation and utility resource planning, as well as to improve energy security and grid resilience. Thus, this research aims to investigate the prediction performance of the ARIMA and LSTM neural network model using electricity consumption data during the period 1990 to 2020. The time series for electricity consumption is divided into 70% for training data and 30% for test data. The results showed that the LSTM model provided improved forecasting accuracy than the ARIMA model.
    Keywords: Electricity Consumption ARIMA LSTM Algeria. JEL Classification Codes: Q47, C53, C45, Electricity Consumption, ARIMA, LSTM, Algeria. JEL Classification Codes: Q47
    Date: 2023–06–04
  16. By: Mohammad Reza Farzanegan; Sven Fischer
    Abstract: This study examines the causal effect of the violent “Woman, Life, Freedom” protests in Iran during the last quarter of 2022 on individual life satisfaction. To evaluate the impact, we use two original representative surveys in Iran conducted in 2022. Our results, based on an ordered logit regression analysis for a sample of more than 2, 000 individuals, show that the violent protest environment had a significant and negative effect on life satisfaction in Iran. To determine the exposure of the respondents to protests, we calculated the number of protests within a 25km radius of the respondents’ locations. The protest environment reduced the probability of life satisfaction by 3.7 percentage points. Moreover, we find significant heterogeneity among the respondents with respect to their life satisfaction before and after protests. The largest negative impact of the protests on life satisfaction is observed among women, members of working class, and those with primary and tertiary education. These results are robust to other determinants of individual life satisfaction, such as marital status, employment, perception of corruption, feeling of security, religiosity, and other sociodemographic factors.
    Keywords: protest, violence. life satisfaction, well-being, Woman Life Freedom, survey, Iran
    JEL: D74 F52 H56 I31 N15
    Date: 2023
  17. By: Omar Benida (Institut Agronomique et Vétérinaire Hassan II (CEDoc- IAV); MAROC); Khalil Allali; Hassan Ramou; Aziz Fadelaoui
    Abstract: This article will diagnose the extent to which the latest regional division in Morocco can allow for better convergence along with economic of regions. To do this, we used econometric modeling based on the σ-convergence test and β-convergence estimation. The study period considered is between 2004 and 2019 partitioned over 3 sub-periods of 5 years each. This allowed for 36 observations for absolute beta-convergence and for conditional betaconvergence. The test used is the Hausman test which grants us to test the presence or absence of a correlation between the specific effects and the explanatory variables of the model. The main results of this modeling are (i) the unconditional σ-convergence and beta- convergence do not prove the existence of convergence but rather divergence between regions, (ii) the conditional β-convergence was able to demonstrate convergence between regions. This can be explained by the fact that conditional β-convergence is only a necessary but not a sufficient condition to achieve the decrease in dispersion between regions in the sense of σ-convergence, (iii) the analysis shows that the regional division does not favor a convergence between regions and thus delays a sustainable economic takeoff of regions.
    Keywords: regional wealth regional economic convergence territorial disparities economic models β-convergence Ϭ-convergence, regional wealth, regional economic, economic models, convergence, territorial disparities, β-convergence, Ϭ-convergence, territoriales disparities
    Date: 2023
  18. By: Fettouche Fatma (Université Abdelhafid Boussouf [Mila])
    Abstract: This study examines government subsidy and the Algerian budget deficit from 2000 to 2020. Descriptive analysis visualized the general budget deficit and government subsidy. as well as using standard quantitative analysis to explain government subsidy and budget deficit. Ministry of Finance and General Authority for Treasury publications provided data. The study found that social transfers increase the budget deficit and recommended digitizing the floor for vulnerable groups with low incomes to rationalize government subsidy.
    Keywords: Budget Deficit Government Subsidy Social Transfers Joint Integration. JEL Classification Codes: H60 H70, Budget Deficit, Government Subsidy, Social Transfers, Joint Integration. JEL Classification Codes: H60, H70
    Date: 2023–06–04
  19. By: Lamia Haouam (UBMA - Université Badji Mokhtar Annaba)
    Abstract: This research paper aims to determine the possibility of predicting the financial failure of economic institutions by applying quantitative analysis models to predict financial failure on Saidal group, based on the indicators and financial ratios extracted from financial statements and reports for the study years from 2017 to 2020. This is done using both the Altman and Kida models. One of the most important results obtained is that Saidal group is at risk of financial failure, as indicated by the results of the models, which have shown weaknesses and flaws in the company. Therefore, it is necessary to take the necessary measures and work to improve its financial situation before falling into a state of bankruptcy.
    Keywords: Financial Failure Models for Predicting Financial Failure Altman Model Kida Model. JEL Classification Codes : D22 G33 G17, Financial Failure, Models for Predicting Financial Failure, Altman Model, Kida Model. JEL Classification Codes : D22, G33, G17
    Date: 2023–06–04
  20. By: Chaza Abou Daher; Erica M. Field; Kendal M. Swanson; Kate H. Vyborny
    Abstract: Billions of women still face legal barriers to economic inclusion, yet it is unclear whether lifting these barriers is sufficient to enhance their economic participation. We conduct a field experiment to quantify the impact of a major legal reform - the lifting of the Saudi women's driving ban - on women's employment by randomizing rationed spaces in driver's training. Two years later, women in the treatment group are 61% more likely to drive, 19% more likely to leave the house unchaperoned, and 35% more likely to be employed. However, they are also 19% more likely to require permission to make purchases. These patterns vary systematically with marital status: although physical mobility increases for all women, treatment effects on employment are only observed among never-married and widowed women, who negotiate employment with their fathers. Married and divorced women with children, over whom husbands and ex-husbands have leverage, actually exit the labor force and experience decreased spending autonomy. We posit that these patterns reflect differences in male family members' support for women's employment. They provide evidence that men's resistance to wives' employment poses a binding constraint to female labor force participation when legal restrictions are relaxed, but also that men are more open to granting their daughters economic rights, as has been posited in the literature. The results underscore the importance of intra-household responses to gender reforms, which have the potential to counteract legal gains in women's freedoms, and help explain why potential economic gains from lifting discriminatory laws often go unrealized.
    JEL: J12 J16 J22
    Date: 2023–09
  21. By: International Monetary Fund
    Abstract: Benefiting from high oil prices, Kuwait’s economic recovery continues, and the fiscal and external balances have strengthened. Inflation is contained and external buffers are increasing. However, structural challenges persist. The dominance of oil in Kuwait’s economy coupled with global decarbonization trends underscore the urgency for economic diversification and structural transformation, and the pursuit of fiscal reforms to reinforce sustainability.
    Date: 2023–09–18

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