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Regional Integration and Real Convergence: Evidence from MENA Countries

Author

Listed:
  • Péridy, Nicolas

    (Université du Sud Toulon-Var, LEAD)

  • Bagoulla, Corinne

    (Université de Nantes, LEMNA)

Abstract

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.

Suggested Citation

  • Péridy, Nicolas & Bagoulla, Corinne, 2012. "Regional Integration and Real Convergence: Evidence from MENA Countries," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 27, pages 80-114.
    • Handle: RePEc:ris:integr:0561
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    Citations

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    Cited by:

    1. Mushtaq Ahmad Malik & Tariq Masood, 2022. "Dynamics of Output Growth and Convergence in the Middle East and North African Countries: Heterogeneous Panel ARDL Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1444-1469, June.
    2. Mushtaq Ahmad Malik & Tariq Masood, 2020. "Analysis of Growth Accounting and Convergence in MENA Countries: Panel Cointegration Approach," South Asian Journal of Macroeconomics and Public Finance, , vol. 9(2), pages 237-262, December.
    3. Issa, Samah & Girardone, Claudia & Snaith, Stuart, 2022. "Banking competition, convergence and growth across macro-regions of MENA," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 534-549.

    More about this item

    Keywords

    Convergence; Growth; MENA Countries; Panel Data;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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