Determinants of economic growth in the arab countries: a panel data approach
International Journal of Development Research
Determinants of economic growth in the arab countries: a panel data approach
Received 29th December, 2016; Received in revised form 27th January, 2017; Accepted 26th February, 2017; Published online 31st March, 2017
Copyright©2017, Dr. Bader S.S. Hamdan and Dr Sunil Narwade. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
This study aimed to estimate the determinants of economic growth in the Arab countries, through a form of panel data such as economic growth measured by GDP as the dependent variable, and a number of independent variables, which includes exports, imports, foreign direct investment, population and Gross capital formation. The required secondary data was collected from official sources of each country under consideration, and World Bank for the period 1995-2013. The study found foreign direct investment had a negative effect on GDP in Arab countries. Exports, imports, population and gross capital formation had a positive effect on gross domestic product in Arab countries. The study recommends that Arab countries need to focus on vocational education, through the holding of professional training courses, because of its important role in raising the productivity of the worker in Arab countries.
