Determinants of economic growth in the arab countries: a panel data approach

International Journal of Development Research

Volume: 
07
Article ID: 
5354
10 pages
Research Article

Determinants of economic growth in the arab countries: a panel data approach

Dr. Bader S.S. Hamdan and Dr Sunil Narwade

Abstract: 

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.

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