caa a22 4500 378911872 CHVBK 20180305123543.0 cr unu---uuuuu 161128e20040801xx s 000 0 eng 10.2202/1475-3693.1024 doi (NATIONALLICENCE)gruyter-10.2202/1475-3693.1024 The Causality Issues in the Finance and Growth Nexus: Emperical Evidence from Middle East and North African Countries [Elektronische Daten] [Ghazi Boulila, Mohamed Trabelsi] This paper explores the causality issue between financial development and economic growth in the Middle East and North Africa (MENA) region for different periods ranging from 1960 to 2002. The empirical evidence presented in the paper, either with cointegration techniques or Granger causality tests provides support to the hypothesis that causality is running from the real to the financial sector. Moreover, there is a little support to the view that finance is a leading sector in the determination of long-run growth in the countries of the region. These findings might be associated with four features: (1) the strict control of the financial sector in these countries for long periods of time; (2) the delay in the implementation of financial reforms in these countries; (3) the persisting issues in reform implementation (non-performing loans in particular); and (4) the high information and transaction costs that prevent resource promotion and financial deepening even in the face of financial reform. ©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston JEL Classification: 053 nationallicence E44 nationallicence C32 nationallicence financial development nationallicence growth nationallicence causality and cointegration nationallicence Boulila Ghazi FSEGT, Tunisia aut Trabelsi Mohamed IHEC - Tunisia aut Review of Middle East Economics and Finance De Gruyter 2/2(2004-08-01), 35-50 2:2<35 2004 2 rmeef https://doi.org/10.2202/1475-3693.1024 text/html Onlinezugriff via DOI 1 research article jats NATIONALLICENCE 856 40 https://doi.org/10.2202/1475-3693.1024 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Boulila Ghazi FSEGT, Tunisia aut NATIONALLICENCE 700 1- Trabelsi Mohamed IHEC - Tunisia aut NATIONALLICENCE 773 0- Review of Middle East Economics and Finance De Gruyter 2/2(2004-08-01), 35-50 2:2<35 2004 2 rmeef CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-gruyter