| Titre : | How Do Political and Governance Institutions Affect Private Investment Decisions? An Application to the Middle East and North Africa (2007) |
| Auteurs : | Marie-Ange Veganzones-Varoudakis, Auteur ; Ahmet Faruk Aysan, Auteur |
| Type de document : | Article : Revues - Articles |
| Dans : | Bogazici University Research Papers, Istanbul (n°ISS/EC 2007-05, May 2007) |
| Article en page(s) : | 38 p. |
| Langues: | Anglais |
| Catégories : |
[Eurovoc] FINANCES > investissement et financement > investissement > investissement privé [Eurovoc] GÉOGRAPHIE > géographie politique > monde arabe [Eurovoc] VIE POLITIQUE > pouvoir exécutif et administration publique > exécutif > gouvernance |
| Tags : | governance ; political institutions ; private investment ; Middle East and North Africa |
| Résumé : | This paper shows for a panel of 32 developing countries that political and governance institutions matter for private investment decision. This linkage is empirically verified for a broad number of institutions. This is the case for corruption, quality of bureaucracy, judiciary, security of property rights, regulations and taxation, political stability, as well as political rights and civil liberties. This result is obtained by estimating a simultaneous model of private investment and political and governance quality, where economic policy and other variables explain concurrently both variables. In MENA, the deficiencies in the administration quality, the political instability and the low public accountability contributed significantly to the low investment decisions of the 1980s and the 1990s. This paper shows as well that, although political and governance institutions constitute first order importance for private investment, economic reforms in the form of financial development and trade openness, and human capital affect private investment decision directly, as well as by enhancing the quality of political and governance institutions. |
| Axe de recherche : | Intégration des pays en développement dans l'économie mondialisée |
| En ligne : | https://hal.archives-ouvertes.fr/hal-00229728 |
Documents numériques (1)
 Article (http://ideas.econ.boun.edu.tr/RePEc/pdf/200705.pdf) Adobe Acrobat PDF |
