A panel analysis of the effects of oil consumption, international tourism, environmental quality and political instability on economic growth in MENA region

Anis Omri, Muhammad Shahbaz, Anissa Chaibi and Christophe Rault

No 2015-613, Working Papers from Department of Research, Ipag Business School

Abstract: The aim of this study is to investigate whether oil consumption, international tourism, environmental quality and political instabilty affect economic growth in 18 MENA countries over the period 1995- 2011using both the static (POLS, FE and RE) and dynamic (Diff-GMM and Sys-GMM) panel data approaches. The empirical results show that the increases in oil consumption and international tourist arrivals are the major drivers of economic growth in MENA countries indicating the presence of energy-led-growth (ELG) and tourism-led-growth (TLG) hypotheses in these countries. We also find that economic growth in MENA countries reacts negatively to the environmental degradation and political instability. These empirical insights are of particular interest to policymakers as they help build sound economic policies to sustain economic development.

Keywords: Economic growth; Static and dynamic panel data; MENA countries. (search for similar items in EconPapers)
Pages: pages
Date: 2015-01-01
New Economics Papers: this item is included in nep-ara, nep-ene and nep-env
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Citations: View citations in EconPapers (4)

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