Regional Integration and Real Convergence: Evidence from MENA Countries

• 영문명: Regional Integration and Real Convergence: Evidence from MENA Countries
• 발행기관: 세종대학교 경제통합연구소
• 저자명: Nicolas Pé ridy Corinne Bagoulla
• 간행물 정보: 『Journal of Economic Integration』제27권 제1호, 80~114쪽, 전체 35쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2012.03.31

영문 초록

This article analyses and explains the real convergence process in MENA countries over the past 50 years. It provides a threefold contribution. Firstly, given the recent increasing attention paid to the Euro-Mediterranean area, it focuses on the convergence of MENA countries towards the EU per capita income. Second, it provides an econometric modelling of the determinants of convergence. Finally, it is based on a wide set of convergence indicators applied to various measures of per capita income as well as the Human Development Index (HDI). Results show that despite a lack of s-convergence for the MENA region taken as a whole, the convergence hypothesis is accepted using the g and β-convergence tests, especially for Tunisia, Egypt, Turkey and Morocco. However, there is evidence of divergence for Jordan and Algeria. It is also shown that the convergence process strongly depends on education, R&D, transport and infrastructure as well as public investment. By contrast, there is no direct impact of the regional integration process with the EU, although the EIB loans positively contribute to the convergence process. Finally, trade specialization and firm agglomeration have been detrimental to convergence of MENA countries.

목차

Ⅰ. Introduction

Ⅱ. The Determinants of Convergence between MENA Countries and the EU

Ⅲ. Conclusion and Policy Implications

키워드

Convergence Growth MENA Countries Panel Data