Instabilités politiques, guerre et croissance économique : le cas du Liban et des pays du Moyen-Orient

Verne, Jean-François

doi:10.3917/redp.266.1077

Cited by 4 publications

(2 citation statements)

References 19 publications

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“…Since the model is statistically validated, we consider that the PSTAR model has three lags, we start by taking the LnFDI variable as a transition variable. On the other hand, and in reference to Verne (2016), the value of the residual sum of squares (RSS) is included in the calculation of the LMF statistics (equation 12 above), which was developed by Colletaz and Hurlin (2006, p.11) and used for the non-linearity test applied to the PSTAR model defined by equation ( 13) below: From the estimation in Table 6, we now proceed to the estimation of the relation ( 12), via the nonlinear least square method, which gives us the results of Table 7.…”

Section: Pstar Threshold Effect Of Fdi On Economic Growthmentioning

confidence: 99%

Threshold effect of foreign direct investment on economic growth: new evidence from a panel regime switching models

Helali¹,

Kalai²

2021

GBER

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The article contributes to the existing literature by examining the non-linear effect of foreign direct investment (FDI) on the development of the Arab Maghreb Union (AMU) countries during the period 1980-2019. These countries multiply their FDI attraction policies in order to enrich the national externalities offered to local businesses and benefit from some positive effects on their economy in terms of growth, technology, know-how, etc. Using Panel Smooth Transition Regression Model (PSTR) and Panel Smooth Transition Autoregressive Model (PSTAR) models, our findings reveal that the FDI shows opposite effects below and over the estimated threshold. This highlights the asymmetrical effect of unforeseen shocks on its volatility. Policy implications are also discussed.

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Section: Pstar Threshold Effect Of Fdi On Economic Growthmentioning

confidence: 99%

Threshold effect of foreign direct investment on economic growth: new evidence from a panel regime switching models

Helali¹,

Kalai²

2021

GBER

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“…In addition, Lebanon is considered as a country characterized by internationalization of internal conflicts as the Lebanese economy has been repeatedly affected by major local and regional conflicts (Verne, 2016).…”

Section: Lebanon: Economical Backgroundmentioning

confidence: 99%

The Interaction between Policy Mix in Lebanon: Applications of the Nonlinear and Linear ARDL Models

Hachem

2023

IJEFI

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This study investigates the interaction between fiscal and monetary policies in Lebanon over the period 2001 to 2019 by using Autoregressive Distributed Lag (ARDL) and the Nonlinear Autoregressive Distributed Lag (NARDL) model introduced by Pesaran et al. (2001) and Shin et al. (2014) respectively in order to examine simultaneously the short- and long-run symmetric and possible asymmetric interactions between fiscal and monetary tools in Lebanon. The fiscal and monetary rules employed in this study are inspired from Leeper (1991, 2016 and 2018). Based on NARDL and ARDL fiscal and monetary reaction functions, Lebanese fiscal authority acts independently indicating a fiscal dominance. This situation obliged the BDL to neglect its main goal of maintaining price stability in order to support fiscal deficit by creating seigniorage revenue to balance the government accounts which in turns has led to an acceleration of inflation rates even in case of monetary contraction. The fiscal responsiveness to changes in public debt is extremely weak in Lebanon, and even is negative, and this is due to the high levels of public debt (174.3% of GDP in 2019). The empirical results indicate also that while the linear approach provides evidences of the interaction between the fiscal and monetary policies, the nonlinear approach provides more important evidences to determine in which direction this cooperation or conflict occurs between policy mix. Moreover, this paper provides new evidences of the absence of fiscal and monetary discipline rules followed by the fiscal and monetary authorities, which indicates that the policymakers in Lebanon were managing the financial and monetary policies without any specific plan or program and without any future vision or even a framework that allows these policies to be evaluated.

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Threshold Effect of Foreign Direct Investment on Economic Growth: New Evidence From a Panel Regime Switching Models

Kalai¹,

Helali²

2021

Preprint

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Instabilités politiques, guerre et croissance économique : le cas du Liban et des pays du Moyen-Orient

Cited by 4 publications

References 19 publications

Threshold effect of foreign direct investment on economic growth: new evidence from a panel regime switching models

Threshold effect of foreign direct investment on economic growth: new evidence from a panel regime switching models

The Interaction between Policy Mix in Lebanon: Applications of the Nonlinear and Linear ARDL Models

Threshold Effect of Foreign Direct Investment on Economic Growth: New Evidence From a Panel Regime Switching Models

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