MENA (The Healthcare Industry in the MENA Region and Its Policy Implications for Korean Companies)

2013 ◽  
Author(s):  
Kwon Hyung Lee ◽  
Sungil Kwak ◽  
Jaeeun Park ◽  
Sung Hyun Son
Keyword(s):  
Policy Implications ◽  
Healthcare Industry ◽  
Mena Region

How does bank liquidity creation affect non-performing loans in the MENA region?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anas Alaoui Mdaghri
Keyword(s):  
Generalized Method Of Moments ◽  
Balance Sheet ◽  
Policy Implications ◽  
Mena Region ◽  
Policy Makers ◽  
Content Type ◽  
Mena Countries ◽  
Negative Effect ◽  
Short And Long Term ◽  
Conventional Banks

PurposeThe study aims to empirically examine the effect of bank liquidity creation on non-performing loans (NPLs) in the Middle East and North Africa (MENA) region.Design/methodology/approachBerger and Bouwman's (2009) three-step methodology was employed to calculate the level of liquidity creation of a selected sample of 111 commercial banks in ten MENA countries from 2010–2017. Next, the two-step system generalized method of moments (GMM) estimator was used to investigate the linkage between bank liquidity creation and NPLs.FindingsThe results demonstrated a significant negative effect of bank liquidity creation on NPLs in the short and long term, implying that liquidity creation through both on- and off-balance sheet activities decreases NPLs. These findings accord with the “economic-enhancing” view. Furthermore, regression analysis investigated whether this relationship remained similar for Islamic and conventional banks. The results showed that liquidity creation diminishes Islamic and conventional bank NPLs.Research limitations/implicationsThe empirical findings raise several significant policy implications. Bank liquidity creation may decrease rather than increase NPLs, although the process of liquidity creation is viewed as risky by rendering banks more illiquid. Therefore, policy-makers should encourage bank liquidity creation to stimulate the economy. In a robust economy, borrowers are more likely to repay their debts, consequently diminishing banks' NPLs.Originality/valueTo the best of the author's knowledge, the current study is the first to provide empirical evidence on the effect of bank liquidity creation on NPLs in MENA countries.

Basel III liquidity regulatory framework and bank liquidity creation in MENA countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anas Alaoui Mdaghri ◽  
Lahsen Oubdi
Keyword(s):  
Negative Impact ◽  
Middle Eastern ◽  
Policy Implications ◽  
Basel Iii ◽  
Bank Capital ◽  
Mena Region ◽  
Content Type ◽  
Dynamic Panel Model ◽  
Mena Countries ◽  
Coverage Ratio

Purpose This paper aims to investigate the potential impact of the Basel III liquidity requirements, namely, the net stable funding ratio (NSFR) and the liquidity coverage ratio (LCR), on bank liquidity creation. Design/methodology/approach The authors developed a dynamic panel model using the Quasi-Maximum Likelihood estimation on an unbalanced panel dataset of 129 commercial banks operating in 10 Middle Eastern and North African (MENA) countries from 2009 to 2017. Findings The results show that the NSFR significantly negatively affects liquidity creation. Similarly, the LCR exerts a substantial negative impact on the liquidity creation of the sampled MENA banks. These findings suggest that complying with both liquidity requirements tends to curtail liquidity creation. Moreover, further regression analysis of large and small bank sub-samples uncovered results similar to the overall MENA sample. Research limitations/implications The findings raise interesting policy implications and suggest a trade-off between the benefits of the financial resiliency induced by implementing liquidity requirements and the creation of liquidity essential for promoting economic growth in the region. Originality/value Most empirical research focuses on the relationship between bank capital and liquidity creation. To the knowledge, this paper is the first to provide empirical evidence on the effect of both the NSFR and LCR regulatory liquidity standards on bank liquidity creation in the MENA region.

Oil price uncertainty and equity returns

2016 ◽  
Vol 8 (1) ◽  
pp. 64-79 ◽  
Author(s):  
Aktham Maghyereh ◽  
Basel Awartani
Keyword(s):  
Stock Returns ◽  
Oil Production ◽  
Equity Returns ◽  
Oil Price ◽  
Policy Implications ◽  
Price Uncertainty ◽  
Mena Region ◽  
Stock Market Returns ◽  
Content Type ◽  
The Impact

Purpose This paper aims to examine the impact of oil price uncertainty on the stock market returns of ten oil importing and exporting countries in the Middle East and North Africa (MENA) region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. Design/methodology/approach This paper intuitively applies the generalized autoregressive conditional heteroskedasticity (GARCH)-in-mean vector autoregression (VAR) model using weekly data over the period January 2001-February 2014. Findings The findings indicate that oil uncertainty matters in the determination of real stock returns. There is a negative and significant relationship between oil price uncertainty and real stock returns in all countries in the sample. The influence of oil price risk is more serious in those economies that depend heavily on oil revenues to grow. Practical implications The findings have important implications. For instance, managers should be aware of the linkages between oil price uncertainty and equity returns when they use oil to hedge and diversify equities, particularly in economies where oil is important for economic growth. The policymakers in oil importing countries should encourage companies to improve efficiency in the usage of energy and to resort to alternative sources to avoid fluctuations in earnings and equity prices. In the countries that heavily depend on oil efforts should focus on diversifying the domestic economy away from oil to protect against oil price fluctuations. Originality/value To the best of our knowledge, this is the first attempt to study the influence of oil price uncertainty in the MENA region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. The empirical findings of the paper have valuable policy implications for investors, market participants and policymakers.

scholarly journals State business relations and the dynamics of job flows in Egypt and Turkey

2020 ◽  
Vol 10 (4) ◽  
pp. 519-558
Author(s):  
Oznur Ozdamar ◽  
Eleftherios Giovanis ◽  
Sahizer Samuk
Keyword(s):  
Least Squares ◽  
Political Instability ◽  
Job Creation ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Reverse Causality ◽  
Mena Region ◽  
Firm Level ◽  
Business Relations

Abstract Long-standing challenges concerning unemployment and the role of government have been the dominant underlying themes in the countries of the Middle East and North Africa (MENA) region. Effective State-Business Relations (SBRs) comprise a set of highly responsive and public interactions between the state and the business sector. The aim of this study is to explore the dynamics of net job creation rates in Egypt and Turkey, and the role of the SBRs, including various firm characteristics. The analysis relies on firm-level data derived from the World Bank Enterprise Surveys over the period 2008–2013. We implement the weighted ordinary least squares (OLS). Furthermore, we apply an Instrumental Variables (IV) Approach and the Two-Stage Least Squares (2SLS) method for robustness check, to deal with the potential endogeneity issues coming from the self-reported statements and the possible degree of reverse causality between SBRs and the main outcomes of interest. Our findings suggest four major obstacles to SBRs, with constraints of access to finance and credit and political instability being the common major obstacles in the two countries explored. Corruption and lack of proper infrastructure in electricity in Egypt are found to be the next two main obstacles in SBRs, while tax rates and competition from the informal sector are identified as the other two main obstacles in Turkey. The results show that obstacles in SBRs contribute negatively to the net job creation. According to these findings, policy implications include the need to make SBRs operate more efficiently, investments on proper infrastructure and policies that minimize corruption and political instability.

The internal and external determinants of the intermediation margin of banks across MENA countries

2018 ◽  
Vol 13 (3) ◽  
pp. 280-290 ◽  
Author(s):  
Dorra Talbi ◽  
Khemaies Bougatef
Keyword(s):  
Saudi Arabia ◽  
United Arab Emirates ◽  
Policy Implications ◽  
Mena Region ◽  
Macroeconomic Factors ◽  
Content Type ◽  
Mena Countries ◽  
Current State ◽  
Interest Margins ◽  
Specific Factors

Purpose The purpose of this paper is to conduct a comparative analysis of internal and external determinants of bank’s performance in Middle East and North Africa (MENA) countries. Design/methodology/approach The authors use a static unbalanced annual panel data of banks operating in eight countries pertaining to the MENA region (Tunisia, Bahrain, Egypt, Jordan, Qatar, Lebanon, Kingdom of Saudi Arabia and United Arab Emirates) over the period from 1999 to 2014. Findings The findings reveal that the determinants of intermediation margins in the MENA region differ across countries. Overall, banks interest margins are explained by both bank-specific variables and macroeconomic factors except for Saudi Arabia in which interest margins exclusively depend on bank-specific factors. Originality/value These findings contribute to the clarification and critical analysis of the current state of bank’s performance in some countries located in MENA region, which would have several crucial policy implications.

scholarly journals Small and Medium Enterprises in the Middle East and North Africa Region

2021 ◽  
Vol 16 (5) ◽  
pp. 55
Author(s):  
Khaled Otman
Keyword(s):  
Middle East ◽  
North Africa ◽  
Small And Medium Enterprises ◽  
Policy Implications ◽  
Future Research ◽  
Mena Region ◽  
Access To Finance ◽  
Mena Countries ◽  
Medium Enterprises

In the Middle East and North Africa (MENA) region, Small and Medium Enterprises (SMEs) are now widely recognized as engines of economic development. This paper discusses the importance of SMEs in the MENA economic area and identifies the challenges and barriers facing SMEs in MENA countries. In addition, this study analyses the effects of two 'black swan' Coronavirus disease (COVID-19) phenomena and a decline in oil prices on the economy of MENA in 2020. The current study found that the most significant challenges were identified as lack of access to finance, lack of managerial expertise, inefficiencies of government, lack of a well-trained workforce, inadequate infrastructure, corruption and bureaucratic obstacles. Among these challenges, the lack of access to finance appears to be the major challenge and suggests that future research is required to identify the role of Islamic finance models in the financing of SMEs in MENA countries. This research provides all stakeholders with policy implications intended for enhancing the different features of SME improvement in the MENA region and generally in developing countries.

scholarly journals Determinants of the Intention to Use Smart Healthcare Devices: A Framework and Public Policy Implications

2021 ◽  
Vol 2021 ◽  
pp. 1-7
Author(s):  
Xifeng Lu ◽  
Junyi Hao ◽  
Biaoan Shan ◽  
Anwei Gu
Keyword(s):  
Public Policy ◽  
Digital Technologies ◽  
Policy Implications ◽  
Smart Devices ◽  
Intention To Use ◽  
Healthcare Industry ◽  
Technological Complexity ◽  
Smart Healthcare ◽  
Privacy Risks

Healthcare industry is strongly influenced by new digital technologies. In this context, this study creates a framework and explores determinants of the intention to use smart healthcare devices. Several factors were identified, including usefulness, convenience, novelty, price, technological complexity, and perceived privacy risks of smart devices. Based on the samples from China, we find that usefulness, convenience, and novelty have positive influences on the intention to use smart healthcare devices. However, technological complexity is negatively related to the intention to use smart devices. The results further extend previous researches in the area of the healthcare industry.

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