What is it about?
This study investigates the impact of natural resources, financial development, and institutions on economic growth in the MENA region. Using panel data, we find that natural resources are a key driver, but their effectiveness depends on strong financial systems and institutions. Remittances and foreign aid are also important, but their impact is influenced by these factors. Our findings emphasize the need for effective resource management, financial development, and institutional improvement to promote sustainable growth in the region.
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Why is it important?
This study shows the importance of natural resources, financial development and institutions for economic growth in the MENA region. Strong financial systems and institutions are crucial for the effective management of natural resources and ensuring sustainable development. It is therefore important to focus attention on this topic in order to deepen our knowledge in this area.
Perspectives
It was a great pleasure to write this article as I have little experience in analyzing panel data. I enjoyed working with Somayeh Sedighi and learning from her about the MENA region and the application of econometric methods to panel data. We hope that this article will add to the literature on the MENA region and contribute to its understanding, as the region is a very interesting case study and economic science.
Dr. Ibrahim Niftiyev
Azerbaijan State University of Economics (UNEC)
Read the Original
This page is a summary of: Economic Growth through Rent Streams, Financial Development and Institutional Quality in Mena, Finance Theory and Practice, September 2024, Financial University under the Government of the Russian Federation,
DOI: 10.26794/2587-5671-2026-30-4-1706-01.
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