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[IWS] AfDB: INEQUALITY, ECONOMIC GROWTH, AND POVERTY IN THE MIDDLE EAST AND NORTH AFRICA (MENA) [3 January 2014]

IWS Documented News Service

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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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African Development Bank (ADB)

 

Working Paper 195

INEQUALITY, ECONOMIC GROWTH, AND POVERTY IN THE MIDDLE EAST AND NORTH AFRICA (MENA) [3 January 2014]

Authors: Mthuli Ncube, John Anyanwu, Kjell Hausken

http://www.afdb.org/en/documents/document/working-paper-195-inequality-economic-growth-and-poverty-in-the-middle-east-and-north-africa-mena-60954/

or

http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/Working%20Paper%20195%20-%20Inequality%20Economic%20Growth%20and%20Poverty%20in%20the%20Middle%20East%20and%20North%20Africa%20%28MENA%29.pdf

[full-text, 28 pages]

 

ABSTRACT

In this paper, we have presented the patterns of inequality, growth and income inequality in the MENA region. Using a cross-sectional time series data of MENA countries for the period 1985-2009, we have also investigated the effect of income inequality on key societal development, namely economic growth and poverty, in the region. Our empirical results show that income inequality reduces economic growth and increases poverty in the region. Other factors having significant negative effect on economic growth in the MENA region include previous growth rate, exchange rate, government consumption expenditure or government burden, initial per capita GDP, inflation, and primary education. On the other hand, variables positively and significantly associated with MENA’s economic growth are domestic investment rate, urbanization, infrastructure development, and mineral rent as a percentage of GDP. In addition, apart from income inequality, other factors increasing poverty in the region are foreign direct investment, population growth, inflation rate, and the attainment of only primary education. Poverty-reducing variables in the region include domestic investment, trade openness, exchange rate, income per capita, and oil rents as a percentage of GDP. The policy implications of these results are discussed.

 

 

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