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International Journal of Economics and Financial Research

Online ISSN: 2411-9407
Print ISSN: 2413-8533

Quarterly Published (4 Issues Per Year)

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Volume 3 Number 12 December 2017

Accession to World Trade Organization and its Implications for Trade Diversification and Economic Activity: Evidence from Saudi Arabia

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Authors: Fayq Al Akayleh
Pages: 332-345
Abstract

An important question amongst economists is: what is the impact of accession to the World Trade Organization on the economies of member countries? Using a comparative analysis, econometric approach, and data from Saudi Arabia, this study proves that trade patterns have changed in some areas and remained unchanged in others as a result of accession to the WTO. The study proves that accession to the WTO has resulted in a remarkable increase in trade share and that accession to the WTO has a positive and significant effect on economic activity.

Governance and Economic Growth in Africa

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Authors: Mossadak Anas
Pages: 323-331
Abstract

Good governance is essential for economic development as it enhances the effectiveness of economic policies undertaken by the government. The aim of this paper is to study the relationship between governance and economic growth in Africa. Using the World Bank governance indicators we construct a composite index to resume all the indicators in one variable that will be used to measure the impact of governance on growth. The main result of this study is that a change in the governance index of a unit is likely to produce an increase of 1.7% in real GDP. This result seems to be extremely important considering the shortage of financial resources in Africa. Improving governance seems to be the best and the less expensive way the boost economic growth. Thus, African countries need to strengthen their economic efficiency by promoting results-based fiscal management, improving their doing business environment and investing in education to improve the quality of human factor.