Analyzing the impact of competition policy on economic prosperity in the MENA region (2013–2023)
In the MENA region, where economic disparities and developmental challenges are prevalent, understanding the impact of competition policy is imperative. As these countries undergo significant economic reforms and strive for sustainable development, this study analyses the nexus between competition p...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2025-01-01
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| Series: | Social Sciences and Humanities Open |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2590291125004747 |
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| Summary: | In the MENA region, where economic disparities and developmental challenges are prevalent, understanding the impact of competition policy is imperative. As these countries undergo significant economic reforms and strive for sustainable development, this study analyses the nexus between competition policy and economic prosperity in 29 countries between 2013 and 2023. Using panel models and Panel-based Feasible Generalized Least Squares (FGLS) in R, with data from the World Bank, the analysis explores how factors related to competition, such as entrepreneurship, financing, and governance, affect economic prosperity. The findings suggest that access to credit for both public and private sectors, along with increased formal training, are vital for fostering economic prosperity. However, an overabundance of new business registrations may lead to excessive competition, highlighting the need for balanced regulations. Additionally, stronger property rights, governance, and regulatory quality are positively linked to economic growth. Ultimately, promoting competition can help reduce economic inequalities and promote balanced prosperity in the MENA region by ensuring credit accessibility, improving formal training, and enhancing property rights and regulatory frameworks. This approach contributes to a more efficient economic environment, stimulates growth, and attracts investment while ensuring regulatory stability. |
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| ISSN: | 2590-2911 |