MEEA Journal-Volume 18

Proceedings of the Middle East Economic Association

2016 Proceedings of the Middle East Economic Association

Issue 1: Selected papers presented in the
14th MEEA International Summer Meeting in Hammamet, Tunisia, March 23-25, 2015
36th Annual Conference of MEEA in San Francisco, California, January 3-6, 2016

Issue 2: Selected papers presented in the
15th International Conference, The Impact of Oil Price Changes on the Economic Growth and
Development in the MENA Countries organized by Doha Institute for Graduate Studies, Doha, Qatar, March 23-25, 2016

Copyright License Agreement

Presentation of the articles in the Topics in Middle Eastern and North African Economies was made possible by a limited license granted to Loyola University Chicago and Middle East Economics Association from the authors who have retained all copyrights in the articles. The articles in this volume shall be cited as follows: (authors/title)Topics in Middle Eastern and North African Economies, electronic journal, Volume 18, Number, Middle East Economic Association and Loyola University Chicago, 2016, http://meea.sites.luc.edu.

ISSN: 2334-282X

Editor and Publisher of Electronic Journal
E. Mine Cinar, Loyola University Chicago, IL, USA

Research Associate
Yu Du, Loyola University Chicago, IL, USA
Tyler James Hienkel, Loyola University Chicago, IL, USA

Editorial Advisory Board for Volume 18
Hassan Aly, Ohio State University and Doha Institute for Graduate Studies,Qatar
Mohammed Benbouziane, University of Tlemcen, Algeria
Claude Berthomieu, University of Nice Sophia-Antipolis, France
Fatma Dogruel, Marmara University, Turkey
Hadi Esfahani, University of Illinois, Urbana-Champaign
Alpay Filiztekin, Sabanci University, Turkey
Hisham Foad, San Diego State University
Shawkat Hammoudeh, Drexel University, Philadelphia
Nathalie Hilmi, Centre Scientifique de Monaco, Pricipality of Monaco
Ali Kutan, Southern Illinois University Edwardsville
Mahdi Majbouri, Babson College
Jeffrey Nugent, University of Southern California
Edward Sayre, University of Southern Mississippi
Rahel Schomaker, Cologne Business School and German University of Administrative Sciences, Germany

Topics in Middle Eastern and North African Economies - Volume 18, Number 1, May 2016

Housing costs and divorce rate in the MENA countries
Hassan Gholipour Fereidouni, Swinburne University of Technology, Australia
Functional income distribution consequences of financial crisis in Turkey
Sinem Sefil, Istanbul Commerce University, Turkey

Decomposing the determinants of interest rates in Turkey and selected emerging markets implementing inflation targeting policies

Erhan Aslanoğlu, Piri Reis University, Turkey

Pınar Deniz,Marmara University, EU Institute,Turkey

Determinants of household education expenditures: Do poor spend less on education?
Bengi Yanik İlhan,Istanbul Kemerburgaz University, Turkey
Ayse Aylin Bayar, Istanbul Technical University,Turkey

Financial development and the oil curse: Evidence from Algeria

Farah Elias Elhannani,University of Tlemcen, Algeria

Abou Bakr Boussalem, University of Mila, Algeria

Mohamed Benbouziane, University of Tlemcen ,Algeria

The impact of governance on economic growth:
The case of Middle Eastern and North African countries

Noha Emara, Rutgers University, New Jersey, USA

I-Ming Chiu, Rutgers University, New Jersey, USA

Productivity change of the Egyptian banking sector: A two stage non-parametric approach
Ammar Jreisat, Al Ain University of Science and Technology, UAE

Hassan Hassan, Al Ain University of Science and Technology, UAE

Sharia law and the transition towards more democracy and a market economy – Restrictions and opportunities
Rahel Schomaker, Cologne Business School and German University of Administrative Sciences, Germany

Children and mothers’ labor force participation in MENA
Mahdi Majbouri, Babson College, Massachusetts, USA

Key Determinants of Innovation in the Algerian SMEs
Benhabib Abderrezzak, Tlemcen University,Algeria
Berrached Wafaa, Tlemcen University,Algeria
Senouci Benabbou, University of Oran, Algeria

An economic analysis of sustainability of a potential GCC economic and monetary union during 2005-2014
Subhadra Ganguli, Ahlia University, Bahrain

Volatility transmission across currencies and commodities with US uncertainty measures
Ahmed A.A. Khalifa, Qatar University, Doha, Qatar
Edoardo Otranto, University of Messina, Messina, Italy
Shawkat Hammoudeh, Drexel University, PA, USA
Sanjay Ramchander, Colorado State University, CO, USA

Plenary Sessions (Powerpoint Slides)

Oil and GCC financial markets: The significance of the oil price collapse
Shawkat Hammoudeh, Drexel University, Philadelphia, USA

Oil price fluctuations and the economies of the GCC
Magda Elsayed Kandil, Central Bank of the United Arab Emirates, UAE

Papers

Asymmetric effect and dynamic relationships between oil prices shocks and exchange rate volatility: Evidence from some selected MENA countries
Riadh El Abed, Laboratoire d’ingénierie financière et économique (LIFE).Tunis, Tunisia
Thouraya Hadj Amor,Monastir University, Tunisia
Ridha Nouira, Monastir University, Tunisia
Christophe Rault, University of Orléans, France

The impact of oil prices on macroeconomic fundamentals, monetary policy and stock market for eight Middle East and North African countries
Kamel Si Mohammed,Ain Temouchent University, Algeria
Abderrezzak Benhabib, Tlemcen University, Algeria
Samir Maliki, Tlemcen University, Algeria

Oil price and inflation in Algeria: A nonlinear ARDL approach
Miloud Lacheheb, Universite Putra Malaysia,Malaysia and Universite Kasdi Merbah, Algeria
Abdalla Sirag, Universiti Putra Malaysia, Malaysia

Energy consumption and economic growth in Egypt: A disaggregated causality analysis with structural breaks
Mesbah Fathy Sharaf, University of Alberta, Canada

Oil rents and economic growth in oil-abundant MENA countries: Governance is the trump card to escape the resource trap
Siham Matallah, University of Tlemcen, Algeria
Amal Matallah, University of Tlemcen, Algeria

Algeria: Comparing the last two oil shocks and policy responses
Jose R. Lopez-Calix, The World Bank
Irum Touqeer, The World Bank

Crude oil price changes: Common trend and common cycle features
Ibrahim A. Onour, University of Khartoum, Sudan

Foreign direct investment, institutions and economic growth: Threshold effect
Trojette Ines, University of Toulon, France

Macroeconomic impacts of oil price shocks on inflation and real exchange rate: Evidence from selected MENA countries
Riadh Brini, University of Carthage and University of Tunis El-Manar, Tunisia
Hatem Jemmali, University of Sousse, Tunisia
Arafet Farroukh, University of Carthage and University of Tunis El-Manar, Tunisia

The effect of oil price shocks on the Saudi manufacturing sector
Abdelhamid A. Mahboub,University of Business and Technology, KSA and Zagazig University, Egypt
Heba E. Ahmed,Qassim University, KSA

Natural resource export revenues and construction activities in OPEC countries
Reza Tajaddini, Swinburne University of Technology, Australia
Hassan Gholipour Fereidouni, Swinburne University of Technology, Australia

On the risk spillover across the oil market, financial markets, and the oil-related CDS sectors: A volatility impulse response approach
Mehmet Balcilar, Eastern Mediterranean University,Turkey; University of Pretoria, South Africa; IPAG Business School, France
Shawkat Hammoudeh, Drexel University, PA, USA and IPAG Business School, France
Elif Akay Toparli, Eastern Mediterranean University, Turkey