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Orta Doğu ve Kuzey Afrika'da Kapsayıcı Büyüme: Küresel Finansal Krizden Öncesi ve Sonrası

Year 2021, Volume: 9 Issue: 3, 671 - 684, 28.06.2021
https://doi.org/10.18506/anemon.832156

Abstract

Bu çalışmada, Küresel Finansal Kriz öncesi ve sonrasında 16 MENA ülkesinde kapsayıcı büyümeyi etkileyen makroekonomik temeller ve yapısal faktörler incelenmiştir. Panel veri sabit etkiler modeli iki zaman diliminde kullanılmaktadır: 1996-2007 ve 2008-2016. Kapsayıcı büyümenin bir ölçüsü, ekonomik büyüme ile gelir eşitsizliğini bütünleştirerek tanımlanmıştır. Bu şekilde, kişi başına düşen GSYH büyüme oranının ve Gini katsayısındaki değişimin göreli etkileri hesaba katılmıştır. MENA bölgesinde çevresel bozulma, makroekonomik istikrar, mali disiplin, küreselleşme, beşeri sermaye, ortalama yaşam süresi ve teknolojik gelişme gibi çok çeşitli faktörlerin kapsayıcı büyüme performansını önemli ölçüde etkilediği görülmektedir.

References

  • Abdu, M., Buba, A., & Kareem Alhassan, A. (2018). Macroeconomic Stability and Inclusive Growth in Nigeria: A Cointegration Approach. Pakistan Journal of Humanities and Social Sciences, 6(3), 370-389.
  • Agarwal, H. (2012). Recent Trends in Export Led Growth in India: An Empirical Reinvestigation of Constraints and Possible Solutions for Inclusive Economic Development. International Journal of Management Research and Reviews, 2(10), 1864-1874.
  • Ali, I., & Son, H. H. (2007). Measuring inclusive growth. Asian Development Review, 24(1), 11-31.
  • Alvaredo, F., Assouad, L., & Piketty, T. (2019). Measuring lnequality in the Middle East 1990–2016: The World’s Most Unequal Region?. Review of Income and Wealth, 65(4), 685-711.
  • Anand, R., Mishra, M. S., & Peiris, S. J. (2013). Inclusive growth: Measurement and determinants (No. 13-135). International Monetary Fund, 1-27.
  • Aoyagi, C., & Ganelli, G. (2015). Asia's quest for inclusive growth revisited. Journal of Asian Economics, 40, 29-46.
  • Arabiyat, T. S., Mdanat, M., & Samawi, G. (2020). Trade openness, inclusive growth, and inequality: evidence from Jordan. The Journal of Developing Areas, 54(1).
  • Arezki, M. R., & Nabli, M. M. K. (2012). Natural resources, volatility, and inclusive growth: perspectives from the Middle East and North Africa. International Monetary Fund, 1-33.
  • Asongu, S. A., & Odhiambo, N. M. (2020). Governance, CO2 emissions and inclusive human development in sub-Saharan Africa. Energy Exploration & Exploitation, 38(1), 18-36.
  • Boarini, R., F. Murtin and P. Schreyer (2015), "Inclusive Growth: The OECD Measurement Framework", OECD Statistics Working Papers, No. 2015/06, OECD Publishing, Paris, https://doi.org/10.1787/5jrqppxjqhg4-en.
  • Canlas, D. B. (2016). Investing in human capital for inclusive growth: focus on higher education (No. 2016-02). PIDS Discussion Paper Series, 1-17.
  • Cherkaoui, M., Abdelkhalek, T., Angeli, A., Bibi, S., David, S., Douidich, M., ... & MA, M. (2009, September). Growth, inequality, and poverty alleviation policies in the MENA region. In XXVI International Population Conference, Marrakesh, September-October.
  • Dinda, S. (2014). Inclusive growth through creation of human and social capital. International Journal of Social Economics, 878-895.
  • Gyamfi, N.-M., Bokpin, G. A., Aboagye, A. Q. Q., & Ackah, C. G. (2019). Financial Development, Institutional Quality and Inclusive Growth in Africa. Global Business Review, https://doi.org/10.1177/0972150919875367.
  • Hakimian, H., Said, M., Karshenas, M., & Alami, R. (2014). Inclusive growth in MENA: employment and poverty dimensions in a comparative context, 1-157.
  • Ianchovichina, E., & Lundstrom, S. (2009). Inclusive growth analytics: Framework and application. The World Bank, 1-40.
  • Islam, R. (2014, June). Human capital and inclusive growth: The challenges for Bangladesh. In First BEF Conference on Vision (Vol. 2030), 1-36.
  • Jones, C. I., & Klenow, P. J. (2016). Beyond GDP? Welfare across countries and time. American Economic Review, 106(9), 2426-2457.
  • Kumah, F. Y., & Sandy, M. (2013). In search of inclusive growth: The role of economic institutions and policy. Modern Economy, Vol. 4, No. 11, 758-775.
  • Nabi, M. S. (2013). Role of Islamic finance in promoting inclusive economic development. In Global Sustainable Finance Conference, 1-39.
  • Ncube, M., Anyanwu, J. C., & Hausken, K. (2014). Inequality, economic growth and poverty in the Middle East and North Africa (MENA). African Development Review, 26(3), 435-453.
  • NGUYEN, L. P., & PHAM, V. H. T. (2020). Trade of ICT products, government, and economic growth: Evidence from East Asia-Pacific region. The Journal of Asian Finance, Economics, and Business, 7(8), 175-183.
  • Okafor, S. O., Jegbefumwen, K., & Ike, A. N. (2016). Human capital investment for inclusive and sustainable economic development: The Nigerian experience. British Journal of Economics, Finance and Management Sciences, 11(1), 107-121.
  • Oluwadamilola, O., Akinyemi, O., & Adediran, O. (2018). Human capital development and inclusive growth: Implications for achieving SDG-4 in Nigeria. African Population Studies, 32(1), 4088-4096.
  • O’Sullivan, A., Rey, M. E., & Mendez, J. G. (2011). Opportunities and Challenges in the MENA Region. Arab world competitiveness report, 2012, 42-67.
  • Ranieri, R., & Almeida Ramos, R. (2013). Inclusive growth: Building up a concept (No. 104). Working Paper, 1-26. Rodrik, D. (2014). The past, present, and future of economic growth. Challenge, 57(3), 5-39.
  • Roser, M. & Thewissen, S. (2017). The US lags far behind its peers on “inclusive” economic growth. https://www.vox.com/the-big-idea/2017/2/3/14491964/growth-inequality-comparative-us-europe.
  • Stiglitz, J. E. (2012). The price of inequality: How today's divided society endangers our future. WW Norton & Company.
  • Taskin, T. (2014). GDP Growth in Turkey: Inclusive or not. Central Bank Review, 14(2), 31-64.
  • Thewissen, S., Kenworthy, L., Nolan, B., Roser, M., & Smeeding, T. (2015). Rising income inequality and living standards in OECD countries: How does the middle fare? (No. 656). LIS Working Paper Series, 1-30.
  • Thorat, S., & Dubey, A. (2012). Has growth been socially inclusive during 1993-94-2009-10?. Economic and Political Weekly, 43-53.
  • Vellala, P. S., Madala, M. K., & Chhattopadhyay, U. (2014). A theoretical model for inclusive economic growth in Indian context. International Journal of Humanities and Social Science, 4(13), 229-235.
  • World Bank (2009). What is Inclusive Growth? Washington DC: World Bank.
  • Yinusa, O. G., Aworinde, O. B., & Odusanya, I. A. (2020). Institutional quality, financial development and inclusive growth: Asymmetric cointegration approach. International Journal of Management, Economics and Social Sciences (IJMESS), 9(3), 182-205.
  • Zulfiqar, K. (2018). Fiscal Policy for Inclusive Growth: A Case Study of Pakistan. Pakistan Economic and Social Review, 56(1), 21-24.

Inclusive Growth in the Middle East and North Africa: Before and After the Global Financial Crisis

Year 2021, Volume: 9 Issue: 3, 671 - 684, 28.06.2021
https://doi.org/10.18506/anemon.832156

Abstract

In this study the macroeconomic fundamentals and structural factors which affect inclusive growth in 16 MENA countries before and after the Global Financial Crisis are investigated. A panel data fixed effects model is used in two time periods: 1996-2007 and 2008-2016. A measure of inclusive growth is defined by integrating economic growth and income inequality. In this way, the relative impacts of GDP per capita growth rate and change in Gini coefficient are accounted for. A wide range of factors such as environmental degradation, macroeconomic stability, fiscal discipline, globalization, human capital, life expectancy, and technological development appear to significantly affect inclusive growth performance in the MENA region.

References

  • Abdu, M., Buba, A., & Kareem Alhassan, A. (2018). Macroeconomic Stability and Inclusive Growth in Nigeria: A Cointegration Approach. Pakistan Journal of Humanities and Social Sciences, 6(3), 370-389.
  • Agarwal, H. (2012). Recent Trends in Export Led Growth in India: An Empirical Reinvestigation of Constraints and Possible Solutions for Inclusive Economic Development. International Journal of Management Research and Reviews, 2(10), 1864-1874.
  • Ali, I., & Son, H. H. (2007). Measuring inclusive growth. Asian Development Review, 24(1), 11-31.
  • Alvaredo, F., Assouad, L., & Piketty, T. (2019). Measuring lnequality in the Middle East 1990–2016: The World’s Most Unequal Region?. Review of Income and Wealth, 65(4), 685-711.
  • Anand, R., Mishra, M. S., & Peiris, S. J. (2013). Inclusive growth: Measurement and determinants (No. 13-135). International Monetary Fund, 1-27.
  • Aoyagi, C., & Ganelli, G. (2015). Asia's quest for inclusive growth revisited. Journal of Asian Economics, 40, 29-46.
  • Arabiyat, T. S., Mdanat, M., & Samawi, G. (2020). Trade openness, inclusive growth, and inequality: evidence from Jordan. The Journal of Developing Areas, 54(1).
  • Arezki, M. R., & Nabli, M. M. K. (2012). Natural resources, volatility, and inclusive growth: perspectives from the Middle East and North Africa. International Monetary Fund, 1-33.
  • Asongu, S. A., & Odhiambo, N. M. (2020). Governance, CO2 emissions and inclusive human development in sub-Saharan Africa. Energy Exploration & Exploitation, 38(1), 18-36.
  • Boarini, R., F. Murtin and P. Schreyer (2015), "Inclusive Growth: The OECD Measurement Framework", OECD Statistics Working Papers, No. 2015/06, OECD Publishing, Paris, https://doi.org/10.1787/5jrqppxjqhg4-en.
  • Canlas, D. B. (2016). Investing in human capital for inclusive growth: focus on higher education (No. 2016-02). PIDS Discussion Paper Series, 1-17.
  • Cherkaoui, M., Abdelkhalek, T., Angeli, A., Bibi, S., David, S., Douidich, M., ... & MA, M. (2009, September). Growth, inequality, and poverty alleviation policies in the MENA region. In XXVI International Population Conference, Marrakesh, September-October.
  • Dinda, S. (2014). Inclusive growth through creation of human and social capital. International Journal of Social Economics, 878-895.
  • Gyamfi, N.-M., Bokpin, G. A., Aboagye, A. Q. Q., & Ackah, C. G. (2019). Financial Development, Institutional Quality and Inclusive Growth in Africa. Global Business Review, https://doi.org/10.1177/0972150919875367.
  • Hakimian, H., Said, M., Karshenas, M., & Alami, R. (2014). Inclusive growth in MENA: employment and poverty dimensions in a comparative context, 1-157.
  • Ianchovichina, E., & Lundstrom, S. (2009). Inclusive growth analytics: Framework and application. The World Bank, 1-40.
  • Islam, R. (2014, June). Human capital and inclusive growth: The challenges for Bangladesh. In First BEF Conference on Vision (Vol. 2030), 1-36.
  • Jones, C. I., & Klenow, P. J. (2016). Beyond GDP? Welfare across countries and time. American Economic Review, 106(9), 2426-2457.
  • Kumah, F. Y., & Sandy, M. (2013). In search of inclusive growth: The role of economic institutions and policy. Modern Economy, Vol. 4, No. 11, 758-775.
  • Nabi, M. S. (2013). Role of Islamic finance in promoting inclusive economic development. In Global Sustainable Finance Conference, 1-39.
  • Ncube, M., Anyanwu, J. C., & Hausken, K. (2014). Inequality, economic growth and poverty in the Middle East and North Africa (MENA). African Development Review, 26(3), 435-453.
  • NGUYEN, L. P., & PHAM, V. H. T. (2020). Trade of ICT products, government, and economic growth: Evidence from East Asia-Pacific region. The Journal of Asian Finance, Economics, and Business, 7(8), 175-183.
  • Okafor, S. O., Jegbefumwen, K., & Ike, A. N. (2016). Human capital investment for inclusive and sustainable economic development: The Nigerian experience. British Journal of Economics, Finance and Management Sciences, 11(1), 107-121.
  • Oluwadamilola, O., Akinyemi, O., & Adediran, O. (2018). Human capital development and inclusive growth: Implications for achieving SDG-4 in Nigeria. African Population Studies, 32(1), 4088-4096.
  • O’Sullivan, A., Rey, M. E., & Mendez, J. G. (2011). Opportunities and Challenges in the MENA Region. Arab world competitiveness report, 2012, 42-67.
  • Ranieri, R., & Almeida Ramos, R. (2013). Inclusive growth: Building up a concept (No. 104). Working Paper, 1-26. Rodrik, D. (2014). The past, present, and future of economic growth. Challenge, 57(3), 5-39.
  • Roser, M. & Thewissen, S. (2017). The US lags far behind its peers on “inclusive” economic growth. https://www.vox.com/the-big-idea/2017/2/3/14491964/growth-inequality-comparative-us-europe.
  • Stiglitz, J. E. (2012). The price of inequality: How today's divided society endangers our future. WW Norton & Company.
  • Taskin, T. (2014). GDP Growth in Turkey: Inclusive or not. Central Bank Review, 14(2), 31-64.
  • Thewissen, S., Kenworthy, L., Nolan, B., Roser, M., & Smeeding, T. (2015). Rising income inequality and living standards in OECD countries: How does the middle fare? (No. 656). LIS Working Paper Series, 1-30.
  • Thorat, S., & Dubey, A. (2012). Has growth been socially inclusive during 1993-94-2009-10?. Economic and Political Weekly, 43-53.
  • Vellala, P. S., Madala, M. K., & Chhattopadhyay, U. (2014). A theoretical model for inclusive economic growth in Indian context. International Journal of Humanities and Social Science, 4(13), 229-235.
  • World Bank (2009). What is Inclusive Growth? Washington DC: World Bank.
  • Yinusa, O. G., Aworinde, O. B., & Odusanya, I. A. (2020). Institutional quality, financial development and inclusive growth: Asymmetric cointegration approach. International Journal of Management, Economics and Social Sciences (IJMESS), 9(3), 182-205.
  • Zulfiqar, K. (2018). Fiscal Policy for Inclusive Growth: A Case Study of Pakistan. Pakistan Economic and Social Review, 56(1), 21-24.
There are 35 citations in total.

Details

Primary Language English
Journal Section Research Article
Authors

Ece Handan Güleryüz 0000-0003-0692-9112

Publication Date June 28, 2021
Acceptance Date May 18, 2021
Published in Issue Year 2021 Volume: 9 Issue: 3

Cite

APA Güleryüz, E. H. (2021). Inclusive Growth in the Middle East and North Africa: Before and After the Global Financial Crisis. Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi, 9(3), 671-684. https://doi.org/10.18506/anemon.832156

Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi Creative Commons Atıf-GayriTicari 4.0 Uluslararası Lisansı (CC BY NC) ile lisanslanmıştır.