PurposeThe purpose of this article is to examine is to the link between stock markets and economic growth in advanced and emerging economies in the Middle East and North Africa (mena) region.Design/methodology/approachIndices measuring the degree of financial openness and market development are constructed and used to perform various Granger causality tests to identify predictors of current growth rates.FindingsIt is found that the link exists only in the group of high income countries but this relationship is rather weak for the low income MENA economies. Privatization alone, although necessary, is not enough to spur economic growth. The establishment of sound institutions and well‐defined regulatory policies are needed to protect investors’ rights and entice them to invest in real and financial assets in the MENA region.Originality/valueThe paper offers insights into financial integration, regulation and competitiveness in MENA countries.

No abstract

No abstract

The cooperatives governance structure has always been the research priorities in the field of cooperative economics, but so far the issue is still considered as "gray box" or even as "black box". Most of the recent researches focused on the internal governance structure of cooperatives, or take the governance structure of cooperatives as a generalized property rights. Overall, the existing researches lack of the integrated perspective, especially the targeted analytical framework. Therefore, the authors assume that the particularity of cooperatives, in a certain sense, reflected in its membership identity. On this basis, the paper constructed a theoretical analytical framework of cooperatives governance structure which could effectively explain the positioning of existing cooperative types and its evolution trends.