Macroeconomic Vulnerability and Investment Risks in the Middle East and North Africa Region
AbstractIn this paper we assess a country’s investment risk by studying its vulnerability to shocks in macroeconomic variables including GDP growth, infl ation, and unemployment. Based on the criteria of quick stabilization in the impulse responses of the macro variables after a one standard deviation shock, we rank a sample of ten MENA countries as follows: Algeria (least risky), Syria, Malta, Israel, Saudi Arabia, Tunisia, Oman, Jordan, United Arab Emirates and Bahrain (most risky). We conclude that a country’s economic policy appears to be more important than its oil reserves in stabilizing its economy and attracting FDI in the MENA region.
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Bibliographic InfoArticle provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.
Volume (Year): 62 (2009)
Issue (Month): 1 ()
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More information through EDIRC
Vulnerability; Investment Risk; Impulse Response; Macroeconomic Shock;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
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