The Dynamics of Supply-Side Factors in the Arab Countries: 1991-2019
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Determination of economic performance over the long run requires an analysis of the supply-side factors as a priority, rather than the demand-side factors. In this regard, the purpose of this paper is to measure the growth and the contributions of each supply-side factor in the four selected Arab countries from 1991 to 2019, and then, to describe the dynamics of economic growth type of each country by decade. The findings suggest that firstly, even for countries that are in the same sub-region, the types of economic growth are totally different by country. Secondly, the type of economic growth in each country has changed according to their economic policy, and it has appeared that only one country among the selected Arab countries, that is, Morocco, has successfully changed its growth type from input-driven growth into TFP-driven growth for the period, in other words, from extensive growth to intensive growth.
Abstract
Determination of economic performance over the long run requires an analysis of the supply-side factors as a priority, rather than the demand-side factors. In this regard, the purpose of this paper is to measure the growth and the contributions of each supply-side factor in the four selected Arab countries from 1991 to 2019, and then, to describe the dynamics of economic growth type of each country by decade. The findings suggest that firstly, even for countries that are in the same sub-region, the types of economic growth are totally different by country. Secondly, the type of economic growth in each country has changed according to their economic policy, and it has appeared that only one country among the selected Arab countries, that is, Morocco, has successfully changed its growth type from input-driven growth into TFP-driven growth for the period, in other words, from extensive growth to intensive growth.
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