MENA Export Performance and Specialization

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dc.creatorWood, Christina A.
dc.creatorYang, Judy
dc.date2016-04-26T17:05:28Z
dc.date2016-04-26T17:05:28Z
dc.date2016-03
dc.date.accessioned2026-07-01T00:50:38Z
dc.descriptionIndustry and financial profiles of MENA firms may underpin the observation that MENA country exports are below potential and skewed toward low value-added goods that are unable to spur rapid job creation and inclusive growth. To assess this link, the paper combines analysis highlighting external financing as a determinant of export performance, and analysis highlighting sector asset tangibility and governance. Why? Because high value-added sectors tend to have higher shares of intangible assets and to create innovative products requiring substantial research and development or investments, thereby making these sectors more dependent on external financing. Using sector- and firm-level export data with country-level indicators, the results indicate that countries with more developed financial sectors and stronger governance tend to have higher exports from sectors that are more reliant on finance external to the firm, and lower exports from sectors with higher shares of tangible assets. Interestingly, financial sector development boosts exports less in MENA than in non-MENA countries. To foster expansion of higher value exports, the results suggest a critical need for: (i) deeper financial sector development that strengthens market-based systems, such as asset registries and credit reporting agencies, and (ii) strengthening of legal and governance frameworks.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2016/03/26138023/mena-export-performance-specialization-role-financial-sector-development-governance
dc.identifierhttps://hdl.handle.net/10986/24157
dc.identifier10.1596/1813-9450-7616
dc.identifier.urihttp://hdl.handle.net/123456789/411834
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 7616
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectLIVING STANDARDS
dc.subjectLINE OF CREDIT
dc.subjectCAPITAL MARKETS
dc.subjectBORROWER
dc.subjectLINES OF CREDIT
dc.subjectECONOMIC GROWTH
dc.subjectINTANGIBLE ASSETS
dc.subjectFINANCIAL SECTORS
dc.subjectEXPORT SECTORS
dc.subjectINCOME
dc.subjectINTEREST
dc.subjectSAVINGS ACCOUNTS
dc.subjectPROPERTY RIGHTS
dc.subjectEXCHANGE
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectINCOME GROUP
dc.subjectGDP PER CAPITA
dc.subjectGOOD GOVERNANCE
dc.subjectLIQUIDITY
dc.subjectEXPORTS
dc.subjectDEVELOPING COUNTRIES
dc.subjectPOLITICAL ECONOMY
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectINCENTIVES
dc.subjectVARIABLES
dc.subjectBORROWERS
dc.subjectCAPITAL STOCK
dc.subjectPRICE
dc.subjectBENCHMARKS
dc.subjectSECURE PROPERTY RIGHTS
dc.subjectEXTERNAL FINANCE
dc.subjectDEVELOPMENT
dc.subjectLEGAL FRAMEWORKS
dc.subjectMACROECONOMIC STABILITY
dc.subjectINFLUENCE
dc.subjectSAVINGS
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectEXPORT GROWTH
dc.subjectCONTRACT ENFORCEMENT
dc.subjectRISK DIVERSIFICATION
dc.subjectLOW-INCOME COUNTRIES
dc.subjectDEMOCRACY
dc.subjectCORPORATE FINANCE
dc.subjectINTEREST RATES
dc.subjectMIDDLE-INCOME ECONOMIES
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectMARKETS
dc.subjectCAPITAL MARKET
dc.subjectPRIVATE INVESTMENT
dc.subjectAGENCY PROBLEMS
dc.subjectFINANCIAL PRODUCTS
dc.subjectGOVERNANCE INDICATORS
dc.subjectINCOME LEVELS
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectGLOBAL EXPORTS
dc.subjectTRADITIONAL BANKING
dc.subjectCOUNTRY-LEVEL INDICATORS
dc.subjectAGENCY COSTS
dc.subjectINVENTORY
dc.subjectFINANCIAL SYSTEM
dc.subjectREAL ESTATE
dc.subjectLEGAL FRAMEWORK
dc.subjectSAVINGS ACCOUNT
dc.subjectEQUITY
dc.subjectHUMAN CAPITAL
dc.subjectVALUE ADDED
dc.subjectWAGES
dc.subjectGLOBAL MARKET
dc.subjectOWNERSHIP STRUCTURE
dc.subjectECONOMIC OUTCOMES
dc.subjectDOMESTIC MARKETS
dc.subjectINTERNATIONAL TRADE
dc.subjectBARRIERS
dc.subjectVALUE
dc.subjectCOMPETITIVENESS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectCREDIT
dc.subjectCOMPARATIVE ADVANTAGES
dc.subjectFOREIGN INVESTMENT
dc.subjectWORKING CAPITAL
dc.subjectAGRICULTURE
dc.subjectJOB CREATION
dc.subjectSHARES
dc.subjectASSETS
dc.subjectBENCHMARK
dc.subjectSECURITIES
dc.subjectGOVERNANCE INDICATOR
dc.subjectGOVERNANCE
dc.subjectENFORCEMENT
dc.subjectINSURANCE
dc.subjectECONOMIC DEVELOPMENT
dc.subjectTRADE
dc.subjectECONOMIC INTEGRATION
dc.subjectBANK LOAN
dc.subjectGDP
dc.subjectGOODS
dc.subjectINVESTOR
dc.subjectTHEORY
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectINTANGIBLE
dc.subjectLEGAL SYSTEM
dc.subjectFINANCIAL MARKET
dc.subjectBUSINESS CLIMATE
dc.subjectINVESTMENT
dc.subjectSHARE
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectINVESTMENT CLIMATE
dc.subjectCOLLATERAL
dc.subjectFINANCIAL MARKETS
dc.subjectBUSINESS ENVIRONMENT
dc.subjectBANKING
dc.subjectPOLITICAL STABILITY
dc.subjectFINANCIAL INTERMEDIARY
dc.subjectINVESTMENTS
dc.subjectLENDING
dc.subjectWORLD TRADE
dc.subjectEXTERNAL FINANCING
dc.subjectRISK OF EXPROPRIATION
dc.subjectFINANCIAL SYSTEMS
dc.subjectLABOR MARKETS
dc.subjectOUTCOMES
dc.subjectFINANCIAL SECTOR
dc.subjectORGANIZATIONAL CAPITAL
dc.subjectCASH FLOW
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectDEVELOPMENT POLICY
dc.subjectCORPORATE GOVERNANCE
dc.titleMENA Export Performance and Specialization
dc.titleThe Role of Financial Sector Development and Governance
dc.typeWorking Paper
dc.typeDocument de travail
dc.typeDocumento de trabajo

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