The nexus between business-investment climate and firm performance in the Middle East and North Africa (MENA) region

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dc.contributor.authorGiovanis, Eleftherios
dc.contributor.authorÖzdamar, Öznur
dc.date.accessioned2023-03-22T19:47:39Z
dc.date.available2023-03-22T19:47:39Z
dc.date.issued2022
dc.departmentBelirleneceken_US
dc.description.abstractPurpose Effective business and investment climate can lead to a higher rate of investment, profits and improved productivity, through the creation of an institutional environment, where the state provides high-quality public goods. This study aims to explore the impact of the business-investment climate on firm performance in a sample of six countries in the Middle East and North Africa (MENA) region and Turkey. Furthermore, we extend our analysis to explore the impact of business-investment climate on the resource misallocation in Egypt and Turkey. Design/methodology/approach The study used fixed effects models to investigate the relationship between the business and investment climate, expressed by the obstacles in state-business relations- and the firm performance, which is measured by the firm's value-added, the labour productivity and the total factor productivity To reduce the endogeneity coming from possible reverse causality and the perceptions about the business climate, an instrumental variables (IV) approach applying the two-stage least squares (2SLS) method was followed. The empirical analysis relies on data derived from the World Bank Enterprise Surveys. Findings Based on estimates, the obstacles in business climate may reduce the firm performance measures by 15-40%. These findings indicate the importance of quality in the business climate and how the improvement in its efficiency can have a very considerable positive impact on firms' performance and thus on the overall economic growth of a country. Originality/value This is the first study exploring the impact of business-investment climate on various measures of the firm performance and the resource misallocation in a large sample of countries in the MENA region.en_US
dc.description.sponsorshipEconomic Research Forum (ERF)en_US
dc.description.sponsorshipThe authors gratefully acknowledge financial support from the Economic Research Forum (ERF) and the grant received under the Structural Change, Resource Misallocation and Growth Dynamics in the MENARegion programme call. We would like to notice that an earlier version published as a discussion working paper from the funded institution the Economic Research Forum (ERF), which is acknowledged in the manuscript and it is available at http://erf.org.eg/publications/the-nexus-between-business-investment-climate-and-firm-performance-in-the-middle-east-and-north-africa-mena-region.This study is an update of the working paper.en_US
dc.identifier.doi10.1108/REPS-09-2020-0138
dc.identifier.endpage285en_US
dc.identifier.issn2356-9980
dc.identifier.issn2631-3561
dc.identifier.issue4en_US
dc.identifier.scopus2-s2.0-85143272951en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage257en_US
dc.identifier.urihttps://doi.org/10.1108/REPS-09-2020-0138
dc.identifier.urihttps://hdl.handle.net/20.500.14034/806
dc.identifier.volume7en_US
dc.identifier.wosWOS:000869865600002en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Ltden_US
dc.relation.journalReview Of Economics And Political Scienceen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectEconomic developmenten_US
dc.subjectGovernanceen_US
dc.subjectMiddle East and North Africa regionen_US
dc.subjectResource misallocationen_US
dc.subjectState business relationsen_US
dc.subjectTotal factor productivityen_US
dc.subjectD73en_US
dc.subjectK15en_US
dc.subjectL5en_US
dc.subjectO1en_US
dc.subjectO57en_US
dc.subjectO43en_US
dc.subjectO49en_US
dc.subjectGrowthen_US
dc.subjectEnvironmenten_US
dc.subjectConstraintsen_US
dc.subjectReformen_US
dc.subjectGlobalizationen_US
dc.subjectDeterminantsen_US
dc.subjectCorruptionen_US
dc.titleThe nexus between business-investment climate and firm performance in the Middle East and North Africa (MENA) regionen_US
dc.typeArticleen_US

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