| Description |
1 online resource (27 pages) |
| Series |
IMF Working Papers |
|
IMF Working Papers
|
| Contents |
Cover; Abstract; Contents; I. Introduction; II. Methodology; III. MENA Conditions, Data Sample, and Descriptive Statistics; A. Overview of Key MENA Macroeconomic and Financial Conditions; B. Data Sample; C. Descriptive Statistics; Tables; 1. Summary statistics by country, 2007-2010; 2. Summary statistics by sector, 2007-2010; 3. Summary statistics by region, 2007-2010; 4. Domestic credit provided by banking sector (% of GDP), by country; IV. Estimation results; A. Credit Constraints in MENA; 5. Credit constraints models; 6. Descriptive statistics, ratio of total debt to credit limits (in %) |
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B. Capital Accumulation7. Capital accumulation models; V. Robustness Checks; VI. Conclusions; Appendixes; Appendix; References; References |
| Summary |
We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore's (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical findings point to a large and significant effect of credit conditions on capital accumulation and suggest that continued political unrest worsens credit constraints. The results support the view that financial development measured by a relaxing of financial constraints is key to macroeconomic development |
| Notes |
Description based upon print version of record |
| Bibliography |
Includes bibliographical references |
| Notes |
English |
|
Description based on online resource; title from PDF title page (ebrary, viewed February 5, 2014) |
| Subject |
Credit -- Africa, North -- Econometric models.
|
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Credit -- Middle East -- Econometric models.
|
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Finance, Public.
|
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Saving and investment -- Africa, North -- Econometric models.
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Saving and investment -- Middle East -- Econometric models.
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| Form |
Electronic book
|
| Author |
International Monetary Fund.
|
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Herrala, Risto.
|
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Turk Ariss, Rima.
|
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International Monetary Fund. Middle East Center for Economics and Finance.
|
| ISBN |
1475538693 |
|
1484303350 |
|
1484303571 |
|
9781475538694 |
|
