Sbia
Publications
The aim of this paper is to empirically examine the dynamic relationships between oil revenues, government spending and economic growth in the Kingdom of Bahrain. Oil revenues are the main source of financing government expenditures and imports of good and services. Increasing oil prices in the recent years have boosted public expenditures on social and economic infrastructure. In this paper, we investigate whether the huge government spending has enhanced the pace of economic growth or not. To this end, we use a multivariate cointegration analysis and error-correction model and data for 1960–2010. Overall results suggest that oil revenues remain the principal source for growth and the main channel which finance the government spending.
The aim of this paper is to empirically examine the dynamic relationship between financial deepening, investment activities and economic growth for the case of Tunisia during the period 1961-2010. To this end, we use a multivariate framework based on Vector Error Correction Model and Cointegration techniques. The short-run estimation reveals that finance does not led to economic growth in Tunisia while the long-run results show the opposite conclusion. Further, it was shown that investment is the main engine of growth in the short-run and long-run as well. Our findings could be of great interest for Tunisia new government to draw proper policy responses to promote the role of the financial sector in the economy.
The aim of this paper is to examine the inter-temporal relationship between government revenues and expenditures within a trivariate framework by modeling them together with gross domestic product. Our sample is based on a panel of 6 countries of the Gulf Cooperation Council (GCC) i.e. Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Oman and Bahrain, for the period from 1990 to 2010. We perform an econometric model based on the Toda and Yamamoto procedure. Our empirical results show that government expenditures Granger cause government revenues for Qatar and the United Arab Emirates only, while government revenues Granger cause government expenditures for Saudi Arabia only. We also found a unidirectional causality running from government expenditures to GDP in Bahrain only. Regarding Kuwait, Qatar and Saudi Arabia, GDP Granger cause government revenues while GDP Granger cause government expenditures for Oman and Qatar.
The aim of this paper is to investigate the dynamic relationship between natural resources rents and Algerian economic growth within a trivariate framework by adding trade openness as a third variable. By using cointegration and error correction model techniques, Granger causality tests reveal a bidirectional causal relationship between natural resources rents and economic growth in the short-run and the long-run as well. Moreover, we found a unidirectional causality running from trade to economic growth without any feedback effect.
The aim of this paper is to empirically examine the dynamic relationship between foreign direct investment and economic growth in Tunisia within a multivariate framework. We use annual data for the period 1976-2010 and we perform an econometric model based on cointegration and error correction modeling techniques. The empirical results show that foreign direct investments did not have significant impacts on Tunisian economy; however exports are the main engine for growth.
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The aim of this paper is to empirically examine the relationship between saving and investment for 6 Middle East and North African Countries for the period 1980-2008. To this end, we use panel cointegration analysis and Error Correction Model. The long run estimation reveals causality between investment and saving for the entire sample. The Granger causality tests confirm this result and validate the presence of bidirectional causal relationship between investment and saving. However, the short run estimation shows no causality between the two variables for the entire sample. At the individual level, saving Granger cause investment for Bahrain and Saudi Arabia only.
Frederic Bastiat does not have a popular aura within the scientific community of economists. Nevertheless, he is often considered as close theorist of the Public Choice, especially by his relatively modern analysis on the design of the law and the State. However, instead of moving towards a comparative analysis between the similarities of Bastiat and those authors of Public Choice such as Buchanan, we will attempt a rare analysis based on their differences. This would give us the possibility to provide an explanation of the place of religion in economics through the clear opposition between the theoretical approaches of Bastiat and the Nobel Buchanan. The two modes of reasoning then cover themselves deep antagonism on how to cope with the scientific aspect of the economy. Bien que Frédéric Bastiat ne jouisse pas d'une aura populaire dans le milieu scientifique des économistes, il n'en demeure pas moins qu'il soit souvent mis en avant en tant que proche théoricien du Public Choice. Notamment par ses analyses relativement modernes portant sur la conception de la loi et de l'État. Cependant, au lieu d'aller dans le sens d'une analyse Abstracts - Résumés 6 RSPI 77:1, 2010 comparative entre les ressemblances de Bastiat et celles d'auteurs du Public Choice comme Buchanan, nous tenterons une démarche peu répandue sur leurs dissemblances. En l'occurrence cela nous donnera la possibilité d'établir une explication de la place de la religion en économie via l'opposition manifeste entre les approches théoriques de Bastiat et du Nobel Buchanan. Les deux modes de raisonnement portent alors en elles mêmes des antagonismes profonds sur la manière de s'accommoder de l'aspect scientifique de l'économie. MOTS-CLÉS: Religion; Économie; Public Choice; Buchanan; Bastiat.
Due to the globalisation of the economy and the deregulation, the international banking landscape knew upheavals and rapids structural changes during these last fifteen years. The irruption of the technological innovation, in particular the internet, also looked further into this change making the banking surround an open market to actors who do not have any dealings with the financial world. This new situation accelerated competition and put some banks in difficulties. The objective of this article is to study new dimensions which competition knew these last years and to analyze the new banking environment.
RÉSUMÉ - Sous les effets de la mondialisation de l’économie et de la déréglementation, le paysage bancaire international a
connu des bouleversements et des rapides mutations structurelles au cours de ces quinze dernières années. L’irruption des nouvelles technologies, notamment les réseaux ouvert par l’internet, ont aussi approfondi ce changement faisant de l’environnent bancaire un marché de plus en plus ouvert à des acteurs qui n’ont aucune accointance avec le monde de la finance. Cette situation inédite a accéléré la concurrence et a mis quelques banques en difficultés. L’objectif de cet article est d’étudier les nouvelles dimensions qu’a connu la concurrence ces dernières années et d’analyser le nouvel environnement bancaire hautement risqué, incertain et inquiétant.
