INDEX

Note: Page numbers followed by “n” indicated footnotes.

Abuse of political power, 112

Accountability, 74

Accountable governance system, 176

Advanced economies, 35

estimated panel data models for, 128–134, 135–141

heterogeneity of panel data models for, 163–164

relationship between economic growth and public health expenditure, 166

relationship between economic growth and sanitation, 167

Aggregate governance indicator, 161

Aggregate structural reform indicator, 72–73

Arab Aggregate Demand, 44

Arab countries (ACs), 1–2, 19, 39, 172

adopting reforms to diversify economic structures, 71

bureaucracy system, 107

development of financial and banking sector, 71–72

economic reform programmes, 99

estimated panel data models for, 142, 146–154

facing economic shocks and fluctuations, 53

gains from oil, 39

governance and institutions in, 100–102

heterogeneity of panel data models for, 165–166

percentage of oil and tax revenues, 60

politics in Arab states, 2

production structures, 78

societal development in, 81

Arab economics, 39–40

actual and expected GDP of Arab region, 45

Arab economic growth characteristics, 44–46

Arab GDP per capita growth, 41

Arab potential and actual GDP with output gap, 41, 49

Arab’s Chronic Low-Growth Syndrome, 45

GDP growth in Arab region, 46

GDP per capita growth for sub-Arab groups, 50

growth rates of GDP components in Arab region, 51

sub-Arab groups, economic growth pattern in, 43–44

whole region, economic growth pattern in, 40–43

Arab health indicators, 88

Arab institutional reform, 122

Arab Monetary Fund index (AMF index), 76

Arab multidimensional poverty index, 86

Arab oil-exporting countries, 43

Arab Reform

democracy, 102–105

evolution, 46–48

failure to provide inclusive reforms, 119–125

governance and institutions in ACs, 100–102

impact on Arab World, 116–119

inclusive development framework for, 169–178

public administration capacity, 105–109

social aspects of, 82–97

state of law, 109–114

Arab socialism, 101

Arab Spring, 2, 18–19, 40, 62, 162

Arab Stock Markets Combined Index, 77

Arab Sub-groups, 36–37

Arab vulnerable governance system, 123

Arab–Israeli conflict, 102

Armed conflicts, 172

Asian financial crisis, 41–42

Barro-type regression, 17, 23

Between-country disparities, 85

Budget balance, 62

Business reform indicators, 16–17, 27

Central and South Asian countries (CSA), 19

Centralised bureaucratic system in Arab region, 39

Chronic Low-Growth Syndrome, 45, 48

Civil wars, 124–125, 170

Cobb-Douglas production function, 11

Commodity Structure of Arab Exports, 79

Communication tools, 175

Comparative cross-country analysis, 16

Comparative heuristic approach, 16

Confessionalism, 174

Consumer price index, 56

Control of corruption (CC), 111–114, 161

Control variables, 17–18

Corruption, 108

Credibility gap, 175

Crowding effect, 158

Crowding out effect hypothesis, 158

Current accounts (CAs), 54

balance/GDP, 66

Data

balance, 64–66

characteristics, 19

definition, 29

missing, 20–21

sources, 20

sources, 29

Debt relief, 66–68

Democracy, 102, 173

deficit, 123

PS indicator, 103–105

voice and accountability, 102–103

Developing countries

estimated panel data models for, 134, 142–145

heterogeneity of panel data models for, 164–165

relationship between economic growth and public health expenditure, 166

Developing economies, 35

Development, 5–7

Diversification, 74–75

Drinking water, 93–96

Dynamic panel data (DPD), 22

East Asian countries (EAS), 19

Econometric techniques, 21–23

Economic development, 5–7, 169

Economic growth and development, 7

Economic growth pattern

in sub-Arab groups, 43–44

in whole region, 40–43

Economic infrastructure, 161

Economic policies adoption, 42

Economic reforms, 76, 173–175

aggregated indicators of, 24–38

programmes, 99, 115

Economic stabilisation

external stability indicators, 63–70

macroeconomic stability indicators, 54–63

Economic stabilisation policies, 115

Economic stability, 53–54

Economist Intelligence Unit (EIU) Country Data, 20

Economy diversification structure, 77–80

Education sector reform, 90–91

Electricity, 93–96

Empirical model, 17–19

configuration, 127

principal components, 24

Endogenous growth theory. See New growth theory

Estimated panel data models

for ACs, 142–154

for advanced economies, 128–134

for developing countries, 134–142

Estimation approaches, 21–23

European countries (ECS), 19

European sovereign debt crisis, 77

Evolution of Arab reform, 46–48

Exchange rates, 57–59

Explanatory variables, 17–18

definition and sources of data, 29

Export Concentration Index, 78, 158

Export Diversification Index, 78

External debt-to-exports of goods and services, 68

External debts, 54

External demand, 45–46

External stability, 129, 134, 156–157

reform indicators, 16, 26

External stability indicators, 63–64. See also Macroeconomic stability indicators

current account balance/GDP, 66

debt relief, 66–68

external debt-to-exports of goods and services, 68

international reserves, 68–70

international trade and CA balance, 64–66

total Arab exports by subregions, 65

total reserves in months of imports, 69

External stabilization, 121

External sustainability, 53–54

F-statistics, 127

Financial liberalisation, 75–77

Financial reforms, 71–72

Fixed effect, 23, 127–128, 142

Fixed Telephone Subscriptions, 97

Foreign direct investment (FDI), 20, 42, 44, 62, 73–75, 134

Formal social security, 176

Generalised Methods of Moments (GMM), 22–23

Global recession, 42

Governance, 160–162

in ACs, 100–102

aggregated indicators of, 24–38

gap, 100

indicators, 17, 28, 100

Government effectiveness (GE), 105–109, 161

Gross Domestic Product (GDP), 5, 17, 53, 73, 40, 128

Growth, 6–7

Gulf Cooperation Council (GCC), 19, 43, 116, 118, 156

Gulf Cooperation Council Countries (GCCC), 81, 105, 109

governance effectiveness factor, 173

Hausman test, 21, 23, 128

Health expenditures, 89–90

Health sector reform, 87–90

Heterogeneity of panel data models, 127–128

for ACs, 165–166

for advanced economies, 163–164

for developing countries, 164–165

Hodrick–Prescott filter (HP filter), 40n1

Human capital, 86–87, 134, 158–159

aggregated indicators of, 24–38

education sector reform, 90–91

health sector reform, 87–90

indicators, 17, 27, 87

research and innovation, 91–92

Inclusive development framework for Arab Reform, 169–170

economic reform, 173–175

influential factors, 176–177

political and institutional reform, 170–173

social reform, 175–176

Inclusive institutions, 101

Indebted Poor Country (HIPC), 69

Industrial Research Institute report (IRI report), 91

Ineffectual reform plan, 123

Inequality, 82–86

Infant mortality rates, 88–89

Inflation, 55–56

relationship with unemployment, 122

Information and communication technology (ICT), 93, 96–97

Innovation, 91–92

Institutional reform, 170–173

Institutions, 171–172

in ACs, 100–102

indicators, 28

Instrumental Variable technique (IV technique), 21

Internal stabilisation, 121

Internal stability, 129

International Monetary Fund (IMF), 67, 115, 157

International reserves, 68–70

International trade, 64–66

Internet Protocol (VoIP), 97

Kafala system, 86

Kaiser–Meyer–Olkin test (KMO test), 25

Knowledge, 8

Knowledge-based economy, 9

Lacklustre performance in fighting poverty, 83

Lagrange Multiplier test (LM test), 21, 128

Large-scale corruption, 112

Latin America countries (LCN), 19

Least Square Dummy Variable technique (LSDVC technique), 23

Levin–Lin–Chu test (LLC test), 21

Life expectancy at birth, 89–90

Low-Income Countries (LICs), 19, 54–55, 63, 79, 89, 101, 102

Macroeconomic fragility, 120–122

Macroeconomic instability, 129, 134, 146

Macroeconomic stability, 154–156

reform indicators, 16, 18, 25

relationship with structural reform, 117

Macroeconomic stability indicators, 54–55. See also External stability indicators

budget balance, 62

consumer price index, 56

exchange rates, 57–59

prices and inflation, 55–56

public debt, 63

public finance indicators, 59–63

unemployment, 56, 58

MENA region, 85

Millennium Development Goal (MDG), 160

Mobile telephony, 97

Modern economic development theories, 7

neoclassical theory, 7–8

new growth theory, 8–9

NIE theory, 5, 9

underpinning theory of research, 9–10

Modified operationalisation of model, 19

Monetary policy, 174

Natural resources abundance, 170

Neoclassical School, 8

Neoclassical theory, 7–8

New growth theory, 8–9

New Institutional Economics Theory (NIE Theory), 5, 9

Next-generation networks (NGNs), 97

Non-resource-rich countries, 43

North American (NAC), 19

OECD countries, 20–21

Oil dependence ‘resource curse’, 119–120

Oil production, 177

Oil wealth, 105

Open access society, 101

Overstaffing, 108

Panel data methods, 21

Panel unit-root test, 21

Physical infrastructure, 92–93, 159–160

aggregated indicators of, 24–38

basic infrastructure facilities, 93–96

ICT, 96–97

indicators, 17, 28, 94

Political conflict, 124–125

Political reform, 170–173

Political stability (PS), 146, 161

indicator, 103–105

Pooled OLS regression, 128

Population growth rate, 170

Poverty, 82–86

Power concentration, 108

Prices, 55–56

Production productivity frontier (PPF), 12

Public administration capacity, 105

government effectiveness, 105–109

Public debt, 62–63, 155

Public debt-to-GDP ratio, 62

Public expenditure, 61

Public finance indicators, 59–63

Public infrastructure, 92

Public revenues, 59–60

Public-choice theory, 7

Quality of life, 6

Rational fiscal policy, 174

Reform, 16

policy, 169

Reform programme impact on economic growth, 127

panel estimated results, 128–162

testing heterogeneity of panel data, 127–128

Regulatory Quality (RQ), 108–109

Regulatory quality complement, 173

Research, 91–92

approach, 15–17

theoretical model of, 10–12

underpinning theory of, 9–10

Research and development (R&D), 8

Resource abundance, 177

Resource-poor, labour-abundant countries (RPLA countries), 19, 72, 74–75, 79, 87, 89, 92, 102, 116, 118, 120

Resource-poor subgroups, 54

Resource-rich, labour-abundant countries (RRLA countries), 43, 54–56, 63, 58, 69, 74, 87, 101, 102

Resource-rich, labour-importing countries (RRLI countries), 19, 43, 55–56, 58, 69, 74, 76, 87, 89, 102

Rule of Law (RL), 109–111

Sanitation, 93–96

Small-scale corruption, 112–113

Social aspects of Arab Reform

human capital, 86–92

inequality, 82–86

physical infrastructure, 92–97

poverty, 82–86

Social benefit-cost analysis, 160

Social infrastructure, 161

Social reform, 81, 175–176

Social spending, 176

Solow growth model, 17

Solow residual or ignorance of neoclassical growth theory. See Total factor productivity (TFP)

Solow–Swan model, 8, 10

Sponsorship system, 86

Stabilisation, 53

Stagflation, 121

State of Law, 109

control of corruption, 111–114

rule of law, 109–111

State variables, 17, 154

Structural adjustment

policies, 115

programs, 70

strategies, 115

Structural Adjustment Plan (SAP), 67

Structural reforms, 71, 157–158

aggregate structural reform indicator, 72–73

economy diversification structure, 77–80

financial liberalisation, 75–77

foreign direct investment, 73–75

indicators, 16–17, 27

relationship with macroeconomic stability, 117

strategies, 177

Sub-Arab groups

economic growth pattern in, 43–44

GDP per capita growth for, 43

GDP per capita growth for, 50

Sub-Saharan Africa countries (SSF), 19

Tax policy, 176

Tax reforms, 60

Technology, 18n2

Theoretical basis

development, 5–7

growth, 6–7

modern economic development theories, 7

Theoretical model of research, 10–12

Total Arab exports by subregions, 65

Total factor productivity (TFP), 10–12

Total investment, 44

Tourism, 61–62

Transparency, 174

‘Trickle-down’ effect, 7

Two-stage least squares regression analysis (2SLS regression analysis), 21

UNCTADstat, 20

Unemployment, 56, 58, 155–156

relationship with inflation, 122

United Nations Conference on Trade and Development (UNCTAD), 20

Value added tax (VAT), 56

Violent conflicts, 95

Voice and accountability (VA), 102–103

Vulnerable institutions, 122–123

Wars, 95

World Bank, 67, 115

World Development Indicators (WDI), 20

World Health Organisation (WHO), 88, 158

World Inequality Report, 84

World Statistical Database, 20

Worldwide Governance Indicators (WGIs), 20, 99, 101